HDAW vs. SHYL

Last updated Jun 5, 2026

HDAW (Xtrackers MSCI All World ex US High Dividend Yield Equity ETF) and SHYL (Xtrackers Short Duration High Yield Bond ETF) are both exchange-traded funds - HDAW is a Foreign Large Cap Equities fund tracking the MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index, while SHYL is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market 0-5 Year Index. Both are passively managed. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.

Performance

HDAW vs. SHYL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All World ex US High Dividend Yield Equity ETF (HDAW) and Xtrackers Short Duration High Yield Bond ETF (SHYL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HDAW

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHYL

• 1D: 0.15%
• 1M: 0.20%
• YTD: 1.30%
• 6M: 1.76%
• 1Y: 6.02%
• 3Y*: 8.39%
• 5Y*: 4.91%
• 10Y*: —

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

HDAW vs. SHYL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ETF	0.00%	0.00%	6.53%	16.58%	-5.74%	9.73%	-3.67%	22.40%	-14.11%
SHYL Xtrackers Short Duration High Yield Bond ETF	1.30%	7.78%	8.52%	11.39%	-5.21%	4.60%	3.64%	10.16%	-0.67%

Correlation

The correlation between HDAW and SHYL is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.52

The correlation between HDAW and SHYL shifts across timeframes, from 0.31 (3 years) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HDAW vs. SHYL — Risk / Return Rank

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

SHYL

SHYL Risk / Return Rank: 68
SHYL Sharpe Ratio Rank: 56
SHYL Sortino Ratio Rank: 63
SHYL Omega Ratio Rank: 64
SHYL Calmar Ratio Rank: 76
SHYL Martin Ratio Rank: 78

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.

HDAW vs. SHYL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All World ex US High Dividend Yield Equity ETF (HDAW) and Xtrackers Short Duration High Yield Bond ETF (SHYL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HDAW	SHYL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.72	—

Drawdowns

Drawdown Indicators

	HDAW	SHYL	Difference
Max Drawdown Largest peak-to-trough decline	—	-19.26%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-1.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-9.60%	—
Current Drawdown Current decline from peak	—	-0.08%	—
Average Drawdown Average peak-to-trough decline	—	-1.54%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.40%	—

Volatility

Volatility by Period

	HDAW	SHYL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.86%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.45%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.20%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.84%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	6.69%	—

HDAW vs. SHYL - Expense Ratio Comparison

Both HDAW and SHYL have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

HDAW vs. SHYL - Dividend Comparison

HDAW has not paid dividends to shareholders, while SHYL's dividend yield for the trailing twelve months is around 6.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDAW Xtrackers MSCI All World ex US High Dividend Yield Equity ETF	0.00%	0.00%	2.68%	4.85%	7.00%	4.84%	4.27%	3.95%	4.02%	4.09%	2.92%	1.18%
SHYL Xtrackers Short Duration High Yield Bond ETF	6.93%	7.02%	7.26%	6.60%	5.52%	4.65%	6.16%	5.93%	5.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDAW and SHYL in my portfolio?

HDAW and SHYL have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDAW or SHYL?

Both ETFs have the same 0.20% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDAW or SHYL?

HDAW and SHYL have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, HDAW or SHYL?

SHYL has the higher dividend yield at 6.93%, compared with 0.00% for HDAW.

What is the main difference between HDAW and SHYL?

HDAW is categorized as Foreign Large Cap Equities, while SHYL is High Yield Bonds. HDAW tracks MSCI ACWI ex USA High Dividend Yield US Dollar Hedged Index, while SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index.