HYDW vs. DGZ
HYDW (Xtrackers Low Beta High Yield Bond ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - HYDW is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Low Beta Index, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, HYDW returned 3.52%/yr vs -10.10%/yr for DGZ. At a correlation of -0.10, they often move in opposite directions. HYDW charges 0.20%/yr vs 0.75%/yr for DGZ.
Performance
HYDW vs. DGZ - Performance Comparison
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Returns By Period
In the year-to-date period, HYDW achieves a 0.77% return, which is significantly lower than DGZ's 2.40% return.
HYDW
- 1D
- -0.27%
- 1M
- -0.26%
- YTD
- 0.77%
- 6M
- 1.20%
- 1Y
- 5.37%
- 3Y*
- 6.83%
- 5Y*
- 3.52%
- 10Y*
- —
DGZ
- 1D
- 2.19%
- 1M
- 0.85%
- YTD
- 2.40%
- 6M
- 4.65%
- 1Y
- -16.19%
- 3Y*
- -16.58%
- 5Y*
- -10.10%
- 10Y*
- -8.70%
HYDW vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYDW Xtrackers Low Beta High Yield Bond ETF | 0.77% | 8.47% | 5.42% | 9.84% | -7.86% | 2.77% | 5.51% | 11.44% | -1.08% |
DGZ DB Gold Short Exchange Traded Notes | 2.40% | -32.55% | -16.46% | -4.75% | 4.93% | 1.53% | -20.80% | -13.42% | 6.29% |
Correlation
The correlation between HYDW and DGZ is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018 | -0.10 |
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Return for Risk
HYDW vs. DGZ — Risk / Return Rank
HYDW
DGZ
HYDW vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Low Beta High Yield Bond ETF (HYDW) and DB Gold Short Exchange Traded Notes (DGZ). 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.
| HYDW | DGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.01 | +0.35 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | -0.42 | +3.00 |
| Martin ratioReturn relative to average drawdown | 12.28 | -0.74 | +13.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYDW | DGZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.82 | -0.24 | +2.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | -0.29 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | -0.32 | +0.89 |
Drawdowns
HYDW vs. DGZ - Drawdown Comparison
The maximum HYDW drawdown since its inception was -17.75%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for HYDW and DGZ.
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Drawdown Indicators
| HYDW | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.75% | -86.32% | +68.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -38.32% | +36.23% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -59.54% | +55.90% |
Max Drawdown (5Y)Largest decline over 5 years | -12.68% | -61.54% | +48.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.49% | — |
Current DrawdownCurrent decline from peak | -0.37% | -82.46% | +82.09% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -57.75% | +55.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 21.89% | -21.45% |
Volatility
HYDW vs. DGZ - Volatility Comparison
The current volatility for Xtrackers Low Beta High Yield Bond ETF (HYDW) is 0.74%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 43.28%. This indicates that HYDW experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDW | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 43.28% | -42.54% |
Volatility (6M)Calculated over the trailing 6-month period | 2.28% | 55.04% | -52.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.96% | 66.45% | -63.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 35.25% | -28.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.99% | 27.42% | -20.43% |
HYDW vs. DGZ - Expense Ratio Comparison
HYDW has a 0.20% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Dividends
HYDW vs. DGZ - Dividend Comparison
HYDW's dividend yield for the trailing twelve months is around 5.76%, while DGZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYDW Xtrackers Low Beta High Yield Bond ETF | 5.76% | 5.75% | 5.35% | 5.69% | 4.78% | 3.30% | 4.45% | 4.56% | 4.42% |
Frequently Asked Questions
HYDW and DGZ have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (43.28%) compared to HYDW (0.74%). In terms of maximum drawdown, HYDW dropped -17.75% vs DGZ's -86.32%.
On 5-year performance, HYDW leads with 3.52% vs -10.10% for DGZ. On fees, HYDW is cheaper at 0.20% per year. On volatility, HYDW has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYDW has performed better with a 3.52% return vs -10.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDW is cheaper with a 0.20% expense ratio, compared with 0.75% for DGZ.
HYDW has the higher dividend yield at 5.76%, compared with 0.00% for DGZ.
HYDW is categorized as High Yield Bonds, while DGZ is Inverse Commodities. HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Their fees differ too: 0.20% for HYDW and 0.75% for DGZ.
HYDW currently has the higher Sharpe Ratio (1.82 vs -0.24), 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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