DBAW vs. SHYL
DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) and SHYL (Xtrackers Short Duration High Yield Bond ETF) are both exchange-traded funds - DBAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA US Dollar Hedged Index, while SHYL is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market 0-5 Year Index. Both are passively managed. Over the past 5 years, DBAW returned 11.32%/yr vs 4.87%/yr for SHYL. A 0.63 correlation means they provide meaningful diversification when combined. DBAW charges 0.41%/yr vs 0.20%/yr for SHYL.
Performance
DBAW vs. SHYL - Performance Comparison
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Returns By Period
In the year-to-date period, DBAW achieves a 16.12% return, which is significantly higher than SHYL's 1.15% return.
DBAW
- 1D
- -0.51%
- 1M
- 6.28%
- YTD
- 16.12%
- 6M
- 18.39%
- 1Y
- 36.60%
- 3Y*
- 21.15%
- 5Y*
- 11.32%
- 10Y*
- 11.44%
SHYL
- 1D
- -0.20%
- 1M
- 0.16%
- YTD
- 1.15%
- 6M
- 1.57%
- 1Y
- 6.04%
- 3Y*
- 8.28%
- 5Y*
- 4.87%
- 10Y*
- —
DBAW vs. SHYL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 16.12% | 26.47% | 14.35% | 16.26% | -13.35% | 13.08% | 7.44% | 22.96% | -12.73% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 1.15% | 7.78% | 8.52% | 11.39% | -5.21% | 4.60% | 3.64% | 10.16% | -0.67% |
Correlation
The correlation between DBAW and SHYL is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.63 |
The correlation between DBAW and SHYL has been stable across timeframes, ranging from 0.57 to 0.63 - a consistent structural relationship.
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Return for Risk
DBAW vs. SHYL — Risk / Return Rank
DBAW
SHYL
DBAW vs. SHYL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) and Xtrackers Short Duration High Yield Bond ETF (SHYL). 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.
| DBAW | SHYL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.38 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 3.81 | +0.28 |
| Martin ratioReturn relative to average drawdown | 16.97 | 15.01 | +1.96 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBAW | SHYL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.86 | 1.90 | +0.96 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.84 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.75 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.72 | -0.09 |
Drawdowns
DBAW vs. SHYL - Drawdown Comparison
The maximum DBAW drawdown since its inception was -31.44%, which is greater than SHYL's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for DBAW and SHYL.
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Drawdown Indicators
| DBAW | SHYL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.44% | -19.26% | -12.18% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -1.59% | -7.41% |
Max Drawdown (3Y)Largest decline over 3 years | -14.11% | -4.73% | -9.38% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -9.60% | -8.27% |
Max Drawdown (10Y)Largest decline over 10 years | -31.44% | — | — |
Current DrawdownCurrent decline from peak | -0.51% | -0.23% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -1.54% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.16% | 0.40% | +1.76% |
Volatility
DBAW vs. SHYL - Volatility Comparison
Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a higher volatility of 4.71% compared to Xtrackers Short Duration High Yield Bond ETF (SHYL) at 0.85%. This indicates that DBAW's price experiences larger fluctuations and is considered to be riskier than SHYL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBAW | SHYL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 0.85% | +3.86% |
Volatility (6M)Calculated over the trailing 6-month period | 11.00% | 2.45% | +8.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 3.20% | +9.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.74% | 5.84% | +7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.28% | 6.69% | +8.59% |
DBAW vs. SHYL - Expense Ratio Comparison
DBAW has a 0.41% expense ratio, which is higher than SHYL's 0.20% expense ratio.
Dividends
DBAW vs. SHYL - Dividend Comparison
DBAW's dividend yield for the trailing twelve months is around 3.29%, less than SHYL's 6.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 3.29% | 3.83% | 1.70% | 3.45% | 8.81% | 2.05% | 2.08% | 2.91% | 2.93% | 2.41% | 1.99% | 5.74% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 6.94% | 7.02% | 7.26% | 6.60% | 5.52% | 4.65% | 6.16% | 5.93% | 5.54% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBAW and SHYL have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBAW has higher volatility (4.71%) compared to SHYL (0.85%). In terms of maximum drawdown, DBAW dropped -31.44% vs SHYL's -19.26%.
On 5-year performance, DBAW leads with 11.32% vs 4.87% for SHYL. On fees, SHYL is cheaper at 0.20% per year. On volatility, SHYL has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBAW has performed better with a 11.32% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL is cheaper with a 0.20% expense ratio, compared with 0.41% for DBAW.
SHYL has the higher dividend yield at 6.94%, compared with 3.29% for DBAW.
DBAW is categorized as Foreign Large Cap Equities, while SHYL is High Yield Bonds. DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index, while SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index. Their fees differ too: 0.41% for DBAW and 0.20% for SHYL.
DBAW currently has the higher Sharpe Ratio (2.86 vs 1.90), 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.
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