EIFAX vs. HYDW

Last updated Jun 5, 2026

EIFAX (Eaton Vance Floating-Rate Advantage Fund) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both funds - EIFAX is a Bank Loan fund managed by Eaton Vance, while HYDW is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Low Beta Index. Over the past 5 years, EIFAX returned 4.94%/yr vs 3.58%/yr for HYDW. At a 0.25 correlation, their price movements are largely independent. EIFAX charges 0.47%/yr vs 0.20%/yr for HYDW.

Performance

EIFAX vs. HYDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Floating-Rate Advantage Fund (EIFAX) and Xtrackers Low Beta High Yield Bond ETF (HYDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIFAX achieves a 0.69% return, which is significantly lower than HYDW's 1.04% return.

EIFAX

• 1D: 0.00%
• 1M: 0.59%
• YTD: 0.69%
• 6M: 0.76%
• 1Y: 3.60%
• 3Y*: 7.26%
• 5Y*: 4.94%
• 10Y*: 5.05%

HYDW

• 1D: 0.15%
• 1M: 0.27%
• YTD: 1.04%
• 6M: 1.44%
• 1Y: 5.53%
• 3Y*: 6.99%
• 5Y*: 3.58%
• 10Y*: —

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

EIFAX vs. HYDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EIFAX Eaton Vance Floating-Rate Advantage Fund	0.69%	4.54%	8.91%	11.86%	-2.98%	5.41%	1.90%	9.02%	0.10%
HYDW Xtrackers Low Beta High Yield Bond ETF	1.04%	8.47%	5.42%	9.84%	-7.86%	2.77%	5.51%	11.44%	-1.08%

Correlation

The correlation between EIFAX and HYDW is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018	0.25

Return for Risk

EIFAX vs. HYDW — Risk / Return Rank

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

EIFAX

EIFAX Risk / Return Rank: 36
EIFAX Sharpe Ratio Rank: 26
EIFAX Sortino Ratio Rank: 53
EIFAX Omega Ratio Rank: 63
EIFAX Calmar Ratio Rank: 20
EIFAX Martin Ratio Rank: 19

HYDW

HYDW Risk / Return Rank: 61
HYDW Sharpe Ratio Rank: 56
HYDW Sortino Ratio Rank: 62
HYDW Omega Ratio Rank: 62
HYDW Calmar Ratio Rank: 54
HYDW Martin Ratio Rank: 69

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.

EIFAX vs. HYDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Floating-Rate Advantage Fund (EIFAX) 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.

	EIFAX	HYDW	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.88	-0.43
Sortino ratio: Return per unit of downside risk	3.09	2.89	+0.20
Omega ratio: Gain probability vs. loss probability	1.44	1.37	+0.07
Calmar ratio: Return relative to maximum drawdown	1.63	2.66	-1.03
Martin ratio: Return relative to average drawdown	4.92	12.66	-7.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIFAX vs. HYDW - Sharpe Ratio Comparison

The current EIFAX Sharpe Ratio is 1.45, which is comparable to the HYDW Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of EIFAX and HYDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIFAX	HYDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	1.88	-0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.58	0.56	+1.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.58	+0.61

Drawdowns

EIFAX vs. HYDW - Drawdown Comparison

The maximum EIFAX drawdown since its inception was -40.28%, which is greater than HYDW's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for EIFAX and HYDW.

Drawdown Indicators

	EIFAX	HYDW	Difference
Max Drawdown Largest peak-to-trough decline	-40.28%	-17.75%	-22.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.29%	-2.09%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-3.43%	-3.64%	+0.21%
Max Drawdown (5Y) Largest decline over 5 years	-7.63%	-12.68%	+5.05%
Max Drawdown (10Y) Largest decline over 10 years	-24.22%	—	—
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-2.27%	-1.89%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	0.44%	+0.32%

Volatility

EIFAX vs. HYDW - Volatility Comparison

The current volatility for Eaton Vance Floating-Rate Advantage Fund (EIFAX) is 0.64%, while Xtrackers Low Beta High Yield Bond ETF (HYDW) has a volatility of 0.74%. This indicates that EIFAX experiences smaller price fluctuations and is considered to be less risky than HYDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIFAX	HYDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.74%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	1.96%	2.26%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.57%	2.95%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.14%	6.40%	-3.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	6.99%	-2.54%

EIFAX vs. HYDW - Expense Ratio Comparison

EIFAX has a 0.47% expense ratio, which is higher than HYDW's 0.20% expense ratio.

Dividends

EIFAX vs. HYDW - Dividend Comparison

EIFAX's dividend yield for the trailing twelve months is around 7.61%, more than HYDW's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIFAX Eaton Vance Floating-Rate Advantage Fund	7.61%	8.09%	8.91%	7.02%	5.92%	4.03%	4.51%	5.58%	5.10%	4.46%	5.02%	5.29%
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

Can I hold both EIFAX and HYDW in my portfolio?

EIFAX and HYDW have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIFAX or HYDW?

HYDW has higher volatility (0.74%) compared to EIFAX (0.64%). In terms of maximum drawdown, EIFAX dropped -40.28% vs HYDW's -17.75%.

Which has better risk-adjusted returns?

HYDW currently has the higher Sharpe Ratio (1.88 vs 1.45), 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.