DBEU vs. HYLB
DBEU (Xtrackers MSCI Europe Hedged Equity Fund) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both exchange-traded funds - DBEU is a Europe Equities fund tracking the MSCI Europe US Dollar Hedged Index, while HYLB is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, DBEU returned 11.19%/yr vs 4.04%/yr for HYLB. A 0.59 correlation means they provide meaningful diversification when combined. DBEU charges 0.45%/yr vs 0.15%/yr for HYLB.
Performance
DBEU vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, DBEU achieves a 7.52% return, which is significantly higher than HYLB's 1.53% return.
DBEU
- 1D
- -0.90%
- 1M
- 3.69%
- YTD
- 7.52%
- 6M
- 9.62%
- 1Y
- 17.80%
- 3Y*
- 14.56%
- 5Y*
- 11.19%
- 10Y*
- 11.01%
HYLB
- 1D
- -0.18%
- 1M
- 0.38%
- YTD
- 1.53%
- 6M
- 2.00%
- 1Y
- 6.87%
- 3Y*
- 8.72%
- 5Y*
- 4.04%
- 10Y*
- —
DBEU vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBEU Xtrackers MSCI Europe Hedged Equity Fund | 7.52% | 22.18% | 9.17% | 17.43% | -6.25% | 23.99% | -1.42% | 27.32% | -8.49% | 14.60% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.53% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between DBEU and HYLB is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.59 |
The correlation between DBEU and HYLB has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.
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Return for Risk
DBEU vs. HYLB — Risk / Return Rank
DBEU
HYLB
DBEU vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Europe Hedged Equity Fund (DBEU) 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.
| DBEU | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.82 | 3.04 | -1.21 |
| Martin ratioReturn relative to average drawdown | 7.27 | 13.06 | -5.79 |
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
| DBEU | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.41 | 1.86 | -0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.79 | 0.54 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.58 | 0.00 |
Drawdowns
DBEU vs. HYLB - Drawdown Comparison
The maximum DBEU drawdown since its inception was -34.50%, which is greater than HYLB's maximum drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for DBEU and HYLB.
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Drawdown Indicators
| DBEU | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.50% | -22.91% | -11.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.81% | -2.27% | -7.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -4.51% | -10.84% |
Max Drawdown (5Y)Largest decline over 5 years | -17.67% | -15.54% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -34.50% | — | — |
Current DrawdownCurrent decline from peak | -1.49% | -0.19% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -2.43% | -2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 0.53% | +1.92% |
Volatility
DBEU vs. HYLB - Volatility Comparison
Xtrackers MSCI Europe Hedged Equity Fund (DBEU) has a higher volatility of 4.71% compared to Xtrackers USD High Yield Corporate Bond ETF (HYLB) at 1.20%. This indicates that DBEU's price experiences larger fluctuations and is considered to be riskier than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBEU | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.71% | 1.20% | +3.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 2.93% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.70% | 3.70% | +9.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.32% | 7.47% | +6.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.46% | 8.18% | +8.28% |
DBEU vs. HYLB - Expense Ratio Comparison
DBEU has a 0.45% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
DBEU vs. HYLB - Dividend Comparison
DBEU's dividend yield for the trailing twelve months is around 4.23%, less than HYLB's 6.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEU Xtrackers MSCI Europe Hedged Equity Fund | 4.23% | 4.55% | 0.07% | 3.64% | 1.96% | 1.87% | 2.44% | 2.77% | 3.55% | 2.28% | 9.92% | 5.50% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.49% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% | 0.00% |
Frequently Asked Questions
DBEU and HYLB have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBEU has higher volatility (4.71%) compared to HYLB (1.20%). In terms of maximum drawdown, DBEU dropped -34.50% vs HYLB's -22.91%.
On 5-year performance, DBEU leads with 11.19% vs 4.04% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, HYLB has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBEU has performed better with a 11.19% return vs 4.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.45% for DBEU.
HYLB has the higher dividend yield at 6.49%, compared with 4.23% for DBEU.
DBEU is categorized as Europe Equities, while HYLB is High Yield Bonds. DBEU tracks MSCI Europe US Dollar Hedged Index, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. Their fees differ too: 0.45% for DBEU and 0.15% for HYLB.
HYLB currently has the higher Sharpe Ratio (1.86 vs 1.41), 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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