DBAW vs. VHYL.AS
DBAW (Xtrackers MSCI All World ex US Hedged Equity ETF) and VHYL.AS (Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing) are both exchange-traded funds - DBAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA US Dollar Hedged Index, while VHYL.AS is a Global Equities fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 10 years, DBAW returned 11.82%/yr vs 10.46%/yr for VHYL.AS. A 0.62 correlation means they provide meaningful diversification when combined. DBAW charges 0.41%/yr vs 0.29%/yr for VHYL.AS.
Performance
DBAW vs. VHYL.AS - Performance Comparison
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Different Trading Currencies
DBAW is traded in USD, while VHYL.AS is traded in EUR. To make them comparable, the VHYL.AS values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, DBAW achieves a 15.48% return, which is significantly higher than VHYL.AS's 12.32% return. Over the past 10 years, DBAW has outperformed VHYL.AS with an annualized return of 11.82%, while VHYL.AS has yielded a comparatively lower 10.46% annualized return.
DBAW
- 1D
- 0.38%
- 1M
- 2.00%
- YTD
- 15.48%
- 6M
- 16.97%
- 1Y
- 35.54%
- 3Y*
- 20.40%
- 5Y*
- 11.16%
- 10Y*
- 11.82%
VHYL.AS
- 1D
- 1.48%
- 1M
- 2.04%
- YTD
- 12.32%
- 6M
- 13.92%
- 1Y
- 27.26%
- 3Y*
- 18.56%
- 5Y*
- 10.72%
- 10Y*
- 10.46%
DBAW vs. VHYL.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 15.48% | 26.47% | 14.35% | 16.26% | -13.35% | 13.08% | 7.44% | 22.96% | -10.38% | 18.79% |
VHYL.AS Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing | 12.32% | 27.49% | 9.55% | 10.41% | -5.85% | 19.14% | -0.72% | 20.52% | -11.34% | 19.64% |
Correlation
The correlation between DBAW and VHYL.AS is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 27, 2014 | 0.62 |
The correlation between DBAW and VHYL.AS has been stable across timeframes, ranging from 0.62 to 0.67 - a consistent structural relationship.
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Return for Risk
DBAW vs. VHYL.AS — Risk / Return Rank
DBAW
VHYL.AS
DBAW vs. VHYL.AS - 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 Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing (VHYL.AS). 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.
| DBAW | VHYL.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.46 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.80 | 3.41 | +0.39 |
| Martin ratioReturn relative to average drawdown | 15.48 | 12.21 | +3.27 |
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Drawdowns
DBAW vs. VHYL.AS - Drawdown Comparison
The maximum DBAW drawdown since its inception was -31.44%, smaller than the maximum VHYL.AS drawdown of -36.02%. Use the drawdown chart below to compare losses from any high point for DBAW and VHYL.AS.
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Drawdown Indicators
| DBAW | VHYL.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.44% | -36.02% | +4.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -7.74% | -1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -14.11% | -13.58% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.87% | -20.99% | +3.12% |
Max Drawdown (10Y)Largest decline over 10 years | -31.44% | -36.02% | +4.58% |
Current DrawdownCurrent decline from peak | -1.06% | 0.00% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -8.87% | +3.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.21% | 2.17% | +0.04% |
Volatility
DBAW vs. VHYL.AS - Volatility Comparison
Xtrackers MSCI All World ex US Hedged Equity ETF (DBAW) has a higher volatility of 5.87% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing (VHYL.AS) at 2.93%. This indicates that DBAW's price experiences larger fluctuations and is considered to be riskier than VHYL.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBAW | VHYL.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.87% | 2.93% | +2.94% |
Volatility (6M)Calculated over the trailing 6-month period | 11.93% | 8.34% | +3.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 10.47% | +3.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.88% | 13.40% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.31% | 14.66% | +0.65% |
DBAW vs. VHYL.AS - Expense Ratio Comparison
DBAW has a 0.41% expense ratio, which is higher than VHYL.AS's 0.29% expense ratio.
Dividends
DBAW vs. VHYL.AS - Dividend Comparison
DBAW's dividend yield for the trailing twelve months is around 3.31%, more than VHYL.AS's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF | 3.31% | 3.83% | 1.70% | 3.45% | 8.81% | 2.05% | 2.08% | 2.91% | 2.93% | 2.41% | 1.99% | 5.74% |
VHYL.AS Vanguard FTSE All-World High Dividend Yield UCITS ETF - (USD) Distributing | 2.46% | 2.85% | 3.04% | 3.41% | 3.78% | 3.03% | 3.08% | 3.24% | 3.68% | 3.13% | 3.02% | 3.25% |
Frequently Asked Questions
DBAW and VHYL.AS have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VHYL.AS is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VHYL.AS is cheaper with a 0.29% expense ratio, compared with 0.41% for DBAW.
DBAW is categorized as Foreign Large Cap Equities, while VHYL.AS is Global Equities. DBAW tracks MSCI ACWI ex USA US Dollar Hedged Index, while VHYL.AS tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: Deutsche Bank and Vanguard. Their fees differ too: 0.41% for DBAW and 0.29% for VHYL.AS.
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