FLHY vs. HYLB
FLHY (Franklin Liberty High Yield Corporate ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds. FLHY is actively managed, while HYLB is passively managed. Over the past 5 years, FLHY returned 4.75%/yr vs 4.06%/yr for HYLB. Their correlation of 0.87 suggests significant overlap in exposure. FLHY charges 0.40%/yr vs 0.15%/yr for HYLB.
Performance
FLHY vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, FLHY achieves a 1.87% return, which is significantly higher than HYLB's 1.65% return.
FLHY
- 1D
- 0.12%
- 1M
- 0.27%
- YTD
- 1.87%
- 6M
- 2.45%
- 1Y
- 7.53%
- 3Y*
- 9.36%
- 5Y*
- 4.75%
- 10Y*
- —
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
FLHY vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLHY Franklin Liberty High Yield Corporate ETF | 1.87% | 9.26% | 8.70% | 13.40% | -10.45% | 4.27% | 7.77% | 16.39% | -1.31% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.44% |
Correlation
The correlation between FLHY and HYLB is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2018 | 0.87 |
The correlation between FLHY and HYLB has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
FLHY vs. HYLB — Risk / Return Rank
FLHY
HYLB
FLHY vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty High Yield Corporate ETF (FLHY) 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.
| FLHY | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.36 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.00 | +0.11 |
| Martin ratioReturn relative to average drawdown | 14.63 | 12.90 | +1.72 |
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
| FLHY | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.98 | 1.84 | +0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.55 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.58 | +0.15 |
Drawdowns
FLHY vs. HYLB - Drawdown Comparison
The maximum FLHY drawdown since its inception was -22.58%, roughly equal to the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for FLHY and HYLB.
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Drawdown Indicators
| FLHY | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.58% | -22.91% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -2.43% | -2.27% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.49% | -4.51% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -15.19% | -15.54% | +0.35% |
Current DrawdownCurrent decline from peak | -0.06% | -0.09% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -2.43% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.52% | 0.53% | -0.01% |
Volatility
FLHY vs. HYLB - Volatility Comparison
Franklin Liberty High Yield Corporate ETF (FLHY) and Xtrackers USD High Yield Corporate Bond ETF (HYLB) have volatilities of 1.22% and 1.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLHY | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 1.19% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.98% | 2.92% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 3.70% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 7.47% | -0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.11% | 8.18% | -0.07% |
FLHY vs. HYLB - Expense Ratio Comparison
FLHY has a 0.40% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
FLHY vs. HYLB - Dividend Comparison
FLHY's dividend yield for the trailing twelve months is around 6.46%, which matches HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FLHY Franklin Liberty High Yield Corporate ETF | 6.46% | 6.53% | 6.51% | 6.26% | 6.54% | 5.76% | 5.47% | 5.61% | 4.27% | 0.00% | 0.00% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.48% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% |
Frequently Asked Questions
With a correlation of 0.94, FLHY and HYLB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FLHY has higher volatility (1.22%) compared to HYLB (1.19%). In terms of maximum drawdown, FLHY dropped -22.58% vs HYLB's -22.91%.
On 5-year performance, FLHY leads with 4.75% vs 4.06% for HYLB. On fees, HYLB is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLHY has performed better with a 4.75% return vs 4.06%. 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 0.40% for FLHY.
HYLB has the higher dividend yield at 6.48%, compared with 6.46% for FLHY.
They also come from different issuers: Franklin Templeton and DWS. Their fees differ too: 0.40% for FLHY and 0.15% for HYLB.
FLHY currently has the higher Sharpe Ratio (1.98 vs 1.84), 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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