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DBND vs. HYG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

DBND vs. HYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Opportunistic Bond ETF (DBND) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). The values are adjusted to include any dividend payments, if applicable.

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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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DBND vs. HYG - Yearly Performance Comparison


2026 (YTD)2025202420232022
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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBND
DBND Risk / Return Rank: 3333
Overall Rank
DBND Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
DBND Sortino Ratio Rank: 3737
Sortino Ratio Rank
DBND Omega Ratio Rank: 3434
Omega Ratio Rank
DBND Calmar Ratio Rank: 3030
Calmar Ratio Rank
DBND Martin Ratio Rank: 2929
Martin Ratio Rank

HYG
HYG Risk / Return Rank: 5454
Overall Rank
HYG Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
HYG Sortino Ratio Rank: 5151
Sortino Ratio Rank
HYG Omega Ratio Rank: 5050
Omega Ratio Rank
HYG Calmar Ratio Rank: 5656
Calmar Ratio Rank
HYG Martin Ratio Rank: 6666
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.


DBNDHYGDifference
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

DBND vs. HYG - Sharpe Ratio Comparison

The current DBND Sharpe Ratio is 1.25, which is comparable to the HYG Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of DBND and HYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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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


DBNDHYGDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-1.80%

-0.12%

-1.68%

Average Drawdown

Average peak-to-trough decline

-2.26%

-3.23%

+0.97%

Ulcer Index

Depth 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


DBNDHYGDifference

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.


PositionTTM20252024202320222021202020192018201720162015
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.

Portfolio Optimizer

Find the right allocation for DBND and HYG

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