BRHY vs. HYLB

Last updated Jun 25, 2026

BRHY (iShares High Yield Active ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. BRHY is actively managed, while HYLB is passively managed. Over the past year, BRHY returned 6.86% vs 5.85% for HYLB. Their correlation of 0.80 suggests significant overlap in exposure. BRHY charges 0.45%/yr vs 0.15%/yr for HYLB.

Performance

BRHY vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares High Yield Active ETF (BRHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BRHY having a 1.72% return and HYLB slightly lower at 1.70%.

BRHY

• 1D: -0.02%
• 1M: 0.38%
• YTD: 1.72%
• 6M: 1.84%
• 1Y: 6.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYLB

• 1D: 0.03%
• 1M: 0.49%
• YTD: 1.70%
• 6M: 1.67%
• 1Y: 5.85%
• 3Y*: 8.97%
• 5Y*: 3.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BRHY vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BRHY iShares High Yield Active ETF	1.72%	9.74%	5.16%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.70%	8.74%	5.75%

Correlation

The correlation between BRHY and HYLB is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jun 18, 2024	0.80

The correlation between BRHY and HYLB has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

BRHY vs. HYLB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BRHY

BRHY Risk / Return Rank: 74
BRHY Sharpe Ratio Rank: 77
BRHY Sortino Ratio Rank: 82
BRHY Omega Ratio Rank: 82
BRHY Calmar Ratio Rank: 58
BRHY Martin Ratio Rank: 71

HYLB

HYLB Risk / Return Rank: 57
HYLB Sharpe Ratio Rank: 51
HYLB Sortino Ratio Rank: 55
HYLB Omega Ratio Rank: 54
HYLB Calmar Ratio Rank: 58
HYLB Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BRHY vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Active ETF (BRHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BRHY	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.57	+0.57
Sortino ratio: Return per unit of downside risk	3.17	2.37	+0.80
Omega ratio: Gain probability vs. loss probability	1.42	1.31	+0.12
Calmar ratio: Return relative to maximum drawdown	2.49	2.59	-0.09
Martin ratio: Return relative to average drawdown	11.43	11.05	+0.38

BRHY vs. HYLB - Sharpe Ratio Comparison

The current BRHY Sharpe Ratio is 2.14, which is higher than the HYLB Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of BRHY and HYLB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BRHY vs. HYLB - Drawdown Comparison

The maximum BRHY drawdown since its inception was -4.42%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for BRHY and HYLB.

Drawdown Indicators

	BRHY	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-4.42%	-22.91%	+18.49%
Max Drawdown (1Y) Largest decline over 1 year	-2.76%	-2.27%	-0.49%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.54%	—
Current Drawdown Current decline from peak	-0.37%	-0.19%	-0.18%
Average Drawdown Average peak-to-trough decline	-0.39%	-2.42%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.53%	+0.07%

Volatility

BRHY vs. HYLB - Volatility Comparison

iShares High Yield Active ETF (BRHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB) have volatilities of 1.08% and 1.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRHY	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.06%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	2.53%	3.02%	-0.49%
Volatility (1Y) Calculated over the trailing 1-year period	3.23%	3.76%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	7.48%	-3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.01%	8.16%	-4.15%

BRHY vs. HYLB - Expense Ratio Comparison

BRHY has a 0.45% expense ratio, which is higher than HYLB's 0.15% expense ratio.

Dividends

BRHY vs. HYLB - Dividend Comparison

BRHY's dividend yield for the trailing twelve months is around 7.85%, more than HYLB's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BRHY iShares High Yield Active ETF	7.85%	7.97%	4.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.48%	6.29%	6.31%	5.84%	5.53%	4.45%	5.22%	5.71%	5.95%	5.85%	0.27%

Frequently Asked Questions

Can I hold both BRHY and HYLB in my portfolio?

BRHY and HYLB have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRHY or HYLB?

BRHY has higher volatility (1.08%) compared to HYLB (1.06%). In terms of maximum drawdown, BRHY dropped -4.42% vs HYLB's -22.91%.

Which ETF is better, BRHY or HYLB?

On 1-year performance, BRHY leads with 6.86% vs 5.85% for HYLB. On fees, HYLB is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BRHY or HYLB?

Over the 1-year period, BRHY has performed better with a 6.86% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BRHY or HYLB?

HYLB is cheaper with a 0.15% expense ratio, compared with 0.45% for BRHY.

Which ETF pays a higher dividend yield, BRHY or HYLB?

BRHY has the higher dividend yield at 7.85%, compared with 6.48% for HYLB.

What is the main difference between BRHY and HYLB?

They also come from different issuers: iShares and DWS. Their fees differ too: 0.45% for BRHY and 0.15% for HYLB.

Which has better risk-adjusted returns?

BRHY currently has the higher Sharpe Ratio (2.14 vs 1.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.