HDEF vs. USSG

Last updated Jun 4, 2026

HDEF (Xtrackers MSCI EAFE High Dividend Yield Equity ETF) and USSG (Xtrackers MSCI USA ESG Leaders Equity 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 USSG is a Large Cap Growth Equities fund tracking the MSCI USA ESG Leaders. Both are passively managed. Over the past 5 years, HDEF returned 9.83%/yr vs 13.79%/yr for USSG. A 0.63 correlation means they provide meaningful diversification when combined. HDEF charges 0.20%/yr vs 0.10%/yr for USSG.

Performance

HDEF vs. USSG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDEF achieves a 3.99% return, which is significantly lower than USSG's 9.51% 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%

USSG

• 1D: -0.80%
• 1M: 4.67%
• YTD: 9.51%
• 6M: 10.19%
• 1Y: 27.90%
• 3Y*: 22.38%
• 5Y*: 13.79%
• 10Y*: —

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

HDEF vs. USSG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF	3.99%	33.01%	2.85%	18.53%	-2.51%	6.95%	-1.90%	14.38%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	9.51%	18.97%	23.45%	29.17%	-20.33%	31.83%	18.71%	19.24%

Correlation

The correlation between HDEF and USSG is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019	0.63

The correlation between HDEF and USSG shifts across timeframes, from 0.44 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

HDEF vs. USSG - Sectors Allocation Comparison

Sectors	HDEF	USSG
Financial Services	26.9%	10.6%
Consumer Defensive	17.9%	4.2%
Healthcare	14.0%	9.6%
Energy	13.8%	2.1%
Industrials	8.8%	8.1%
Utilities	8.4%	1.1%
Communication Services	4.0%	14.5%
Consumer Cyclical	3.9%	8.6%
Real Estate	0.9%	2.2%
Basic Materials	0.7%	2.1%
Technology	0.6%	36.9%

Return for Risk

HDEF vs. USSG — Risk / Return Rank

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

HDEF

HDEF Risk / Return Rank: 38
HDEF Sharpe Ratio Rank: 38
HDEF Sortino Ratio Rank: 37
HDEF Omega Ratio Rank: 37
HDEF Calmar Ratio Rank: 40
HDEF Martin Ratio Rank: 39

USSG

USSG Risk / Return Rank: 60
USSG Sharpe Ratio Rank: 64
USSG Sortino Ratio Rank: 64
USSG Omega Ratio Rank: 61
USSG Calmar Ratio Rank: 50
USSG Martin Ratio Rank: 60

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.

HDEF vs. USSG - 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 MSCI USA ESG Leaders Equity ETF (USSG). 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	USSG	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.14	-0.77
Sortino ratio: Return per unit of downside risk	1.94	3.00	-1.07
Omega ratio: Gain probability vs. loss probability	1.25	1.38	-0.13
Calmar ratio: Return relative to maximum drawdown	1.99	2.50	-0.51
Martin ratio: Return relative to average drawdown	6.16	10.72	-4.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDEF vs. USSG - Sharpe Ratio Comparison

The current HDEF Sharpe Ratio is 1.37, which is lower than the USSG Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HDEF and USSG, 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

	HDEF	USSG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.14	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.79	-0.09
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	0.84	-0.39

Drawdowns

HDEF vs. USSG - Drawdown Comparison

The maximum HDEF drawdown since its inception was -36.43%, which is greater than USSG's maximum drawdown of -34.10%. Use the drawdown chart below to compare losses from any high point for HDEF and USSG.

Drawdown Indicators

	HDEF	USSG	Difference
Max Drawdown Largest peak-to-trough decline	-36.43%	-34.10%	-2.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.03%	-11.20%	+3.17%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-20.00%	+8.85%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-27.00%	+3.37%
Max Drawdown (10Y) Largest decline over 10 years	-36.43%	—	—
Current Drawdown Current decline from peak	-5.69%	-1.21%	-4.48%
Average Drawdown Average peak-to-trough decline	-5.04%	-5.60%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.61%	-0.02%

Volatility

HDEF vs. USSG - Volatility Comparison

Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) and Xtrackers MSCI USA ESG Leaders Equity ETF (USSG) have volatilities of 3.75% and 3.77%, 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.

Volatility by Period

	HDEF	USSG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	3.77%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	10.04%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	11.67%	13.12%	-1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.14%	17.59%	-3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	20.16%	-3.92%

HDEF vs. USSG - Expense Ratio Comparison

HDEF has a 0.20% expense ratio, which is higher than USSG's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HDEF vs. USSG - Dividend Comparison

HDEF's dividend yield for the trailing twelve months is around 3.65%, more than USSG's 0.95% 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%
USSG Xtrackers MSCI USA ESG Leaders Equity ETF	0.95%	1.02%	1.13%	1.60%	1.52%	1.13%	1.42%	1.21%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HDEF and USSG in my portfolio?

HDEF and USSG have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HDEF or USSG?

USSG has higher volatility (3.77%) compared to HDEF (3.75%). In terms of maximum drawdown, HDEF dropped -36.43% vs USSG's -34.10%.

Which ETF is better, HDEF or USSG?

On 5-year performance, USSG leads with 13.79% vs 9.83% for HDEF. On fees, USSG is cheaper at 0.10% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HDEF or USSG?

Over the 5-year period, USSG has performed better with a 13.79% return vs 9.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HDEF or USSG?

USSG is cheaper with a 0.10% expense ratio, compared with 0.20% for HDEF.

Which ETF pays a higher dividend yield, HDEF or USSG?

HDEF has the higher dividend yield at 3.65%, compared with 0.95% for USSG.

What is the main difference between HDEF and USSG?

HDEF is categorized as Foreign Large Cap Equities, while USSG is Large Cap Growth Equities. HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index, while USSG tracks MSCI USA ESG Leaders. Their fees differ too: 0.20% for HDEF and 0.10% for USSG.

Which has better risk-adjusted returns?

USSG currently has the higher Sharpe Ratio (2.14 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.