HDEF vs. SHYL
HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and SHYL (Xtrackers Short Duration High Yield Bond ETF) are both exchange-traded funds - HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE 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. Over the past 5 years, HDEF returned 9.83%/yr vs 4.87%/yr for SHYL. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
HDEF vs. SHYL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HDEF achieves a 3.99% return, which is significantly higher than SHYL's 1.15% return.
HDEF
- 1D
- -0.96%
- 1M
- -1.35%
- YTD
- 3.99%
- 6M
- 6.18%
- 1Y
- 15.90%
- 3Y*
- 16.39%
- 5Y*
- 9.83%
- 10Y*
- 8.59%
SHYL
- 1D
- -0.20%
- 1M
- 0.16%
- YTD
- 1.15%
- 6M
- 1.57%
- 1Y
- 6.04%
- 3Y*
- 8.28%
- 5Y*
- 4.87%
- 10Y*
- —
HDEF vs. SHYL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 3.99% | 33.01% | 2.85% | 18.53% | -2.51% | 6.95% | -1.90% | 25.02% | -15.62% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 1.15% | 7.78% | 8.52% | 11.39% | -5.21% | 4.60% | 3.64% | 10.16% | -0.67% |
Correlation
The correlation between HDEF and SHYL is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.58 |
The correlation between HDEF and SHYL has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HDEF vs. SHYL — Risk / Return Rank
HDEF
SHYL
HDEF vs. SHYL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) 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.
| HDEF | SHYL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 3.81 | -1.82 |
| Martin ratioReturn relative to average drawdown | 6.16 | 15.01 | -8.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HDEF | SHYL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 1.90 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 0.84 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.72 | -0.27 |
Drawdowns
HDEF vs. SHYL - Drawdown Comparison
The maximum HDEF drawdown since its inception was -36.43%, which is greater than SHYL's maximum drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for HDEF and SHYL.
Loading charts...
Drawdown Indicators
| HDEF | SHYL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.43% | -19.26% | -17.17% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -1.59% | -6.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -4.73% | -6.42% |
Max Drawdown (5Y)Largest decline over 5 years | -23.63% | -9.60% | -14.03% |
Max Drawdown (10Y)Largest decline over 10 years | -36.43% | — | — |
Current DrawdownCurrent decline from peak | -5.69% | -0.23% | -5.46% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -1.54% | -3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 0.40% | +2.19% |
Volatility
HDEF vs. SHYL - Volatility Comparison
Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) has a higher volatility of 3.75% compared to Xtrackers Short Duration High Yield Bond ETF (SHYL) at 0.85%. This indicates that HDEF's price experiences larger fluctuations and is considered to be riskier than SHYL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HDEF | SHYL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 0.85% | +2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 2.45% | +6.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.67% | 3.20% | +8.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.14% | 5.84% | +8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.24% | 6.69% | +9.55% |
HDEF vs. SHYL - Expense Ratio Comparison
Both HDEF 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
HDEF vs. SHYL - Dividend Comparison
HDEF's dividend yield for the trailing twelve months is around 3.65%, less than SHYL's 6.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 3.65% | 3.88% | 4.53% | 4.38% | 5.41% | 4.76% | 3.93% | 4.20% | 3.55% | 3.38% | 9.53% | 1.87% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 6.94% | 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
HDEF and SHYL have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDEF has higher volatility (3.75%) compared to SHYL (0.85%). In terms of maximum drawdown, HDEF dropped -36.43% vs SHYL's -19.26%.
On 5-year performance, HDEF leads with 9.83% vs 4.87% for SHYL. Both ETFs have the same 0.20% expense ratio. On volatility, SHYL has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HDEF has performed better with a 9.83% return vs 4.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HDEF and SHYL have the same expense ratio: 0.20% per year.
SHYL has the higher dividend yield at 6.94%, compared with 3.65% for HDEF.
HDEF is categorized as Foreign Large Cap Equities, while SHYL is High Yield Bonds. HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index.
SHYL currently has the higher Sharpe Ratio (1.90 vs 1.37), 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.
Find the right allocation for HDEF and SHYL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer