HYDW vs. BKHY
Compare and contrast key facts about Xtrackers Low Beta High Yield Bond ETF (HYDW) and BNY Mellon High Yield Beta ETF (BKHY).
HYDW and BKHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYDW is a passively managed fund by Deutsche Bank that tracks the performance of the Solactive USD High Yield Corporates Total Market Low Beta Index. It was launched on Jan 11, 2018. BKHY is a passively managed fund by The Bank of New York Mellon Corp. that tracks the performance of the Bloomberg US Corporate High Yield Index. It was launched on Apr 24, 2020. Both HYDW and BKHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYDW or BKHY.
Key characteristics
| HYDW | BKHY | |
|---|---|---|
| YTD Return | 5.53% | 8.28% |
| 1Y Return | 10.39% | 14.17% |
| 3Y Return (Ann) | 2.46% | 2.94% |
| Sharpe Ratio | 2.53 | 3.13 |
| Sortino Ratio | 3.98 | 4.96 |
| Omega Ratio | 1.51 | 1.62 |
| Calmar Ratio | 3.01 | 2.62 |
| Martin Ratio | 18.88 | 26.24 |
| Ulcer Index | 0.54% | 0.53% |
| Daily Std Dev | 4.06% | 4.47% |
| Max Drawdown | -17.75% | -15.89% |
| Current Drawdown | -0.81% | -0.53% |
Correlation
The correlation between HYDW and BKHY is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
HYDW vs. BKHY - Performance Comparison
In the year-to-date period, HYDW achieves a 5.53% return, which is significantly lower than BKHY's 8.28% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYDW vs. BKHY - Expense Ratio Comparison
HYDW has a 0.20% expense ratio, which is lower than BKHY's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
HYDW vs. BKHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Low Beta High Yield Bond ETF (HYDW) and BNY Mellon High Yield Beta ETF (BKHY). 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.
Dividends
HYDW vs. BKHY - Dividend Comparison
HYDW's dividend yield for the trailing twelve months is around 5.65%, less than BKHY's 7.00% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
HYDW Xtrackers Low Beta High Yield Bond ETF | 5.65% | 5.69% | 4.78% | 3.30% | 4.46% | 4.56% | 4.42% |
BKHY BNY Mellon High Yield Beta ETF | 7.00% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% |
Drawdowns
HYDW vs. BKHY - Drawdown Comparison
The maximum HYDW drawdown since its inception was -17.75%, which is greater than BKHY's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for HYDW and BKHY. For additional features, visit the drawdowns tool.
Volatility
HYDW vs. BKHY - Volatility Comparison
Xtrackers Low Beta High Yield Bond ETF (HYDW) and BNY Mellon High Yield Beta ETF (BKHY) have volatilities of 1.00% and 1.04%, 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.