ERC vs. HYLB

Last updated Jul 11, 2026

ERC (Allspring Multi-Sector Income Fund) is a stock, while HYLB (Xtrackers USD High Yield Corporate Bond ETF) is High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index. Over the past 5 years, ERC returned 2.41%/yr vs 3.87%/yr for HYLB. At a 0.45 correlation, their price movements are largely independent.

Performance

ERC vs. HYLB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Multi-Sector Income Fund (ERC) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ERC achieves a 3.98% return, which is significantly higher than HYLB's 1.93% return.

ERC

• 1D: 0.03%
• 1M: 3.16%
• 6M: 3.21%
• YTD: 3.98%
• 1Y: 6.52%
• 3Y*: 8.56%
• 5Y*: 2.41%
• 10Y*: 6.29%

HYLB

• 1D: -0.11%
• 1M: 0.14%
• 6M: 1.44%
• YTD: 1.93%
• 1Y: 5.87%
• 3Y*: 8.66%
• 5Y*: 3.87%
• 10Y*: —

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

ERC vs. HYLB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ERC Allspring Multi-Sector Income Fund	3.98%	11.10%	6.10%	4.88%	-17.77%	18.77%	4.36%	28.05%	-5.94%	11.99%
HYLB Xtrackers USD High Yield Corporate Bond ETF	1.93%	8.74%	8.14%	12.03%	-10.80%	3.94%	5.04%	14.06%	-1.80%	6.00%

Correlation

The correlation between ERC and HYLB is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Dec 7, 2016	0.45

The correlation between ERC and HYLB shifts across timeframes, from 0.38 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ERC vs. HYLB — Risk / Return Rank

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

ERC

ERC Risk / Return Rank: 64
ERC Sharpe Ratio Rank: 67
ERC Sortino Ratio Rank: 59
ERC Omega Ratio Rank: 59
ERC Calmar Ratio Rank: 65
ERC Martin Ratio Rank: 71

HYLB

HYLB Risk / Return Rank: 63
HYLB Sharpe Ratio Rank: 56
HYLB Sortino Ratio Rank: 62
HYLB Omega Ratio Rank: 62
HYLB Calmar Ratio Rank: 63
HYLB Martin Ratio Rank: 73

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.

ERC vs. HYLB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Multi-Sector Income Fund (ERC) 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.

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.

	ERC	HYLB	Difference
Sharpe ratio: Return per unit of total volatility	0.66	1.54	-0.87
Sortino ratio: Return per unit of downside risk	1.02	2.33	-1.31
Omega ratio: Gain probability vs. loss probability	1.13	1.30	-0.17
Calmar ratio: Return relative to maximum drawdown	0.91	2.52	-1.61
Martin ratio: Return relative to average drawdown	3.06	10.85	-7.78

ERC vs. HYLB - Sharpe Ratio Comparison

The current ERC Sharpe Ratio is 0.66, which is lower than the HYLB Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of ERC and HYLB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ERC vs. HYLB - Drawdown Comparison

The maximum ERC drawdown since its inception was -47.41%, which is greater than HYLB's maximum drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for ERC and HYLB.

Drawdown Indicators

	ERC	HYLB	Difference
Max Drawdown Largest peak-to-trough decline	-47.41%	-22.91%	-24.50%
Max Drawdown (1Y) Largest decline over 1 year	-6.88%	-2.27%	-4.61%
Max Drawdown (3Y) Largest decline over 3 years	-10.04%	-4.51%	-5.53%
Max Drawdown (5Y) Largest decline over 5 years	-33.65%	-15.54%	-18.11%
Max Drawdown (10Y) Largest decline over 10 years	-41.33%	—	—
Current Drawdown Current decline from peak	0.00%	-0.25%	+0.25%
Average Drawdown Average peak-to-trough decline	-6.84%	-2.41%	-4.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	0.53%	+1.50%

Volatility

ERC vs. HYLB - Volatility Comparison

Allspring Multi-Sector Income Fund (ERC) has a higher volatility of 1.49% compared to Xtrackers USD High Yield Corporate Bond ETF (HYLB) at 0.89%. This indicates that ERC'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.

Volatility by Period

	ERC	HYLB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	0.89%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	7.04%	3.02%	+4.02%
Volatility (1Y) Calculated over the trailing 1-year period	9.41%	3.72%	+5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.37%	7.48%	+5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	8.14%	+7.66%

Dividends

ERC vs. HYLB - Dividend Comparison

ERC's dividend yield for the trailing twelve months is around 10.29%, more than HYLB's 6.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERC Allspring Multi-Sector Income Fund	9.50%	9.35%	8.65%	8.44%	10.70%	8.51%	9.51%	9.35%	11.56%	9.66%	8.80%	13.67%
HYLB Xtrackers USD High Yield Corporate Bond ETF	6.51%	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

Can I hold both ERC and HYLB in my portfolio?

ERC and HYLB have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ERC or HYLB?

ERC has higher volatility (1.49%) compared to HYLB (0.89%). In terms of maximum drawdown, ERC dropped -47.41% vs HYLB's -22.91%.

Which has better risk-adjusted returns?

HYLB currently has the higher Sharpe Ratio (1.54 vs 0.66), 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.