DBEM vs. HYDW
DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both exchange-traded funds - DBEM is a Emerging Markets Equities fund tracking the MSCI EM US Dollar Hedged Index, while HYDW is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Low Beta Index. Both are passively managed. Over the past 5 years, DBEM returned 8.60%/yr vs 3.45%/yr for HYDW. At a 0.46 correlation, their price movements are largely independent. DBEM charges 0.66%/yr vs 0.20%/yr for HYDW.
Performance
DBEM vs. HYDW - Performance Comparison
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Returns By Period
In the year-to-date period, DBEM achieves a 22.75% return, which is significantly higher than HYDW's 1.35% return.
DBEM
- 1D
- -3.04%
- 1M
- -4.10%
- 6M
- 15.35%
- YTD
- 22.75%
- 1Y
- 43.79%
- 3Y*
- 21.35%
- 5Y*
- 8.60%
- 10Y*
- 9.51%
HYDW
- 1D
- -0.17%
- 1M
- 0.16%
- 6M
- 1.17%
- YTD
- 1.35%
- 1Y
- 5.17%
- 3Y*
- 6.86%
- 5Y*
- 3.45%
- 10Y*
- —
DBEM vs. HYDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF | 22.75% | 30.42% | 10.61% | 10.53% | -17.00% | -2.26% | 18.12% | 16.77% | -13.81% |
HYDW Xtrackers Low Beta High Yield Bond ETF | 1.35% | 8.47% | 5.42% | 9.84% | -7.86% | 2.77% | 5.51% | 11.44% | -1.15% |
Correlation
The correlation between DBEM and HYDW is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.46 |
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Return for Risk
DBEM vs. HYDW — Risk / Return Rank
DBEM
HYDW
DBEM vs. HYDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and Xtrackers Low Beta High Yield Bond ETF (HYDW). 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.
| DBEM | HYDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.19 | 2.48 | +1.71 |
| Martin ratioReturn relative to average drawdown | 13.77 | 11.95 | +1.82 |
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Drawdowns
DBEM vs. HYDW - Drawdown Comparison
The maximum DBEM drawdown since its inception was -33.51%, which is greater than HYDW's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for DBEM and HYDW.
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Drawdown Indicators
| DBEM | HYDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.51% | -17.75% | -15.76% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -2.09% | -8.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -3.54% | -11.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.25% | -12.68% | -16.57% |
Max Drawdown (10Y)Largest decline over 10 years | -33.51% | — | — |
Current DrawdownCurrent decline from peak | -9.04% | -0.32% | -8.72% |
Average DrawdownAverage peak-to-trough decline | -11.64% | -1.87% | -9.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.19% | 0.43% | +2.76% |
Volatility
DBEM vs. HYDW - Volatility Comparison
Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) has a higher volatility of 10.57% compared to Xtrackers Low Beta High Yield Bond ETF (HYDW) at 0.58%. This indicates that DBEM's price experiences larger fluctuations and is considered to be riskier than HYDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBEM | HYDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.57% | 0.58% | +9.99% |
Volatility (6M)Calculated over the trailing 6-month period | 19.54% | 2.29% | +17.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.53% | 2.91% | +18.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.87% | 6.41% | +11.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.46% | 6.95% | +10.51% |
DBEM vs. HYDW - Expense Ratio Comparison
DBEM has a 0.66% expense ratio, which is higher than HYDW's 0.20% expense ratio.
Dividends
DBEM vs. HYDW - Dividend Comparison
DBEM's dividend yield for the trailing twelve months is around 2.15%, less than HYDW's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF | 2.15% | 1.84% | 2.48% | 2.55% | 2.65% | 1.77% | 1.74% | 2.59% | 2.85% | 1.51% | 1.59% | 3.49% |
HYDW Xtrackers Low Beta High Yield Bond ETF | 5.75% | 5.75% | 5.35% | 5.69% | 4.78% | 3.30% | 4.45% | 4.56% | 4.42% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBEM and HYDW have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBEM has higher volatility (10.57%) compared to HYDW (0.58%). In terms of maximum drawdown, DBEM dropped -33.51% vs HYDW's -17.75%.
On 5-year performance, DBEM leads with 8.60% vs 3.45% for HYDW. On fees, HYDW is cheaper at 0.20% per year. On volatility, HYDW has been the lower-risk option at 0.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBEM has performed better with a 8.60% return vs 3.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDW is cheaper with a 0.20% expense ratio, compared with 0.66% for DBEM.
HYDW has the higher dividend yield at 5.75%, compared with 2.15% for DBEM.
DBEM is categorized as Emerging Markets Equities, while HYDW is High Yield Bonds. DBEM tracks MSCI EM US Dollar Hedged Index, while HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index. Their fees differ too: 0.66% for DBEM and 0.20% for HYDW.
DBEM currently has the higher Sharpe Ratio (2.05 vs 1.79), 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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