HYDB vs. DCREX
HYDB (iShares High Yield Bond Factor ETF) and DCREX (Dunham Real Estate Stock Fund) are both funds - HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index, while DCREX is a REIT fund managed by Dunham. Over the past 5 years, HYDB returned 4.57%/yr vs -6.48%/yr for DCREX. A 0.56 correlation means they provide meaningful diversification when combined. HYDB charges 0.35%/yr vs 2.37%/yr for DCREX.
Performance
HYDB vs. DCREX - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.47% return, which is significantly lower than DCREX's 11.22% return.
HYDB
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- 1.47%
- 6M
- 1.60%
- 1Y
- 6.31%
- 3Y*
- 9.35%
- 5Y*
- 4.57%
- 10Y*
- —
DCREX
- 1D
- 1.07%
- 1M
- -0.38%
- YTD
- 11.22%
- 6M
- 11.66%
- 1Y
- 6.72%
- 3Y*
- 7.60%
- 5Y*
- -6.48%
- 10Y*
- 1.34%
HYDB vs. DCREX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.47% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
DCREX Dunham Real Estate Stock Fund | 11.22% | -6.83% | 6.05% | 12.43% | -40.12% | 8.93% | 19.66% | 26.09% | -7.29% | 4.19% |
Correlation
The correlation between HYDB and DCREX 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 | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.56 |
The correlation between HYDB and DCREX shifts across timeframes, from 0.50 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYDB vs. DCREX — Risk / Return Rank
HYDB
DCREX
HYDB vs. DCREX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and Dunham Real Estate Stock Fund (DCREX). 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.
| HYDB | DCREX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.11 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 0.92 | +1.32 |
| Martin ratioReturn relative to average drawdown | 9.85 | 1.70 | +8.15 |
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Drawdowns
HYDB vs. DCREX - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum DCREX drawdown of -74.32%. Use the drawdown chart below to compare losses from any high point for HYDB and DCREX.
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Drawdown Indicators
| HYDB | DCREX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -74.32% | +52.74% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -8.36% | +5.53% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -24.95% | +19.37% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -49.40% | +35.12% |
Max Drawdown (10Y)Largest decline over 10 years | — | -49.40% | — |
Current DrawdownCurrent decline from peak | -0.31% | -29.75% | +29.44% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -19.27% | +16.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 4.51% | -3.87% |
Volatility
HYDB vs. DCREX - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.06%, while Dunham Real Estate Stock Fund (DCREX) has a volatility of 4.25%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than DCREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDB | DCREX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 4.25% | -3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 9.17% | -6.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.84% | 13.80% | -9.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 21.49% | -14.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 21.16% | -13.42% |
HYDB vs. DCREX - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is lower than DCREX's 2.37% expense ratio.
Dividends
HYDB vs. DCREX - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 6.99%, more than DCREX's 0.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DCREX Dunham Real Estate Stock Fund | 0.51% | 0.56% | 0.00% | 1.72% | 0.00% | 7.09% | 8.26% | 7.31% | 1.07% | 0.80% | 20.50% | 10.54% |
HYDB iShares High Yield Bond Factor ETF | 6.99% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB and DCREX 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.
DCREX has higher volatility (4.25%) compared to HYDB (1.06%). In terms of maximum drawdown, HYDB dropped -21.58% vs DCREX's -74.32%.
HYDB currently has the higher Sharpe Ratio (1.65 vs 0.56), 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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