DBND vs. HYG
DBND (DoubleLine Opportunistic Bond ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both exchange-traded funds - DBND is a Intermediate Core-Plus Bond fund tracking the Bloomberg US Aggregate Bond Index, while HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 3 years, DBND returned 4.42%/yr vs 8.78%/yr for HYG. A 0.51 correlation means they provide meaningful diversification when combined. DBND charges 0.50%/yr vs 0.49%/yr for HYG.
Performance
DBND vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, DBND achieves a -0.21% return, which is significantly lower than HYG's 1.65% return.
DBND
- 1D
- -0.20%
- 1M
- 0.47%
- YTD
- -0.21%
- 6M
- -0.07%
- 1Y
- 4.05%
- 3Y*
- 4.42%
- 5Y*
- —
- 10Y*
- —
HYG
- 1D
- -0.09%
- 1M
- 0.55%
- YTD
- 1.65%
- 6M
- 1.90%
- 1Y
- 6.23%
- 3Y*
- 8.78%
- 5Y*
- 3.77%
- 10Y*
- 5.00%
DBND vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | -0.21% | 7.41% | 3.06% | 6.33% | -5.93% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.65% | 8.59% | 7.97% | 11.54% | -7.25% |
Correlation
The correlation between DBND and HYG is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.51 |
The correlation between DBND and HYG has been stable across timeframes, ranging from 0.51 to 0.61 - a consistent structural relationship.
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Return for Risk
DBND vs. HYG — Risk / Return Rank
DBND
HYG
DBND vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DoubleLine Opportunistic Bond ETF (DBND) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
| DBND | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.31 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 2.67 | -1.24 |
| Martin ratioReturn relative to average drawdown | 3.92 | 11.73 | -7.81 |
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Drawdowns
DBND vs. HYG - Drawdown Comparison
The maximum DBND drawdown since its inception was -9.39%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for DBND and HYG.
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Drawdown Indicators
| DBND | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.39% | -34.25% | +24.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -2.34% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.25% | -4.56% | -1.69% |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.79% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.03% | — |
Current DrawdownCurrent decline from peak | -1.80% | -0.12% | -1.68% |
Average DrawdownAverage peak-to-trough decline | -2.26% | -3.23% | +0.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.03% | 0.53% | +0.50% |
Volatility
DBND vs. HYG - Volatility Comparison
The current volatility for DoubleLine Opportunistic Bond ETF (DBND) is 0.98%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.12%. This indicates that DBND experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBND | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.12% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 3.12% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.26% | 3.89% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.08% | 7.54% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.08% | 8.29% | -3.21% |
DBND vs. HYG - Expense Ratio Comparison
DBND has a 0.50% expense ratio, which is higher than HYG's 0.49% expense ratio.
Dividends
DBND vs. HYG - Dividend Comparison
DBND's dividend yield for the trailing twelve months is around 4.79%, less than HYG's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBND DoubleLine Opportunistic Bond ETF | 4.79% | 4.78% | 5.19% | 4.39% | 2.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
DBND and HYG have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYG has higher volatility (1.12%) compared to DBND (0.98%). In terms of maximum drawdown, DBND dropped -9.39% vs HYG's -34.25%.
On 3-year performance, HYG leads with 8.78% vs 4.42% for DBND. On fees, HYG is cheaper at 0.49% per year. On volatility, DBND has been the lower-risk option at 0.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYG has performed better with a 8.78% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYG is cheaper with a 0.49% expense ratio, compared with 0.50% for DBND.
HYG has the higher dividend yield at 5.90%, compared with 4.79% for DBND.
DBND is categorized as Intermediate Core-Plus Bond, while HYG is High Yield Bonds. DBND tracks Bloomberg US Aggregate Bond Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. They also come from different issuers: DoubleLine and iShares. Their fees differ too: 0.50% for DBND and 0.49% for HYG.
HYG currently has the higher Sharpe Ratio (1.61 vs 1.25), 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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