HYDW vs. HYGV
HYDW (Xtrackers Low Beta High Yield Bond ETF) and HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) are both High Yield Bonds funds - HYDW tracks the Solactive USD High Yield Corporates Total Market Low Beta Index while HYGV tracks the Northern Trust High Yield Value-Scored US Corporate Bond Index. Both are passively managed. Over the past 5 years, HYDW returned 3.54%/yr vs 3.42%/yr for HYGV. Their correlation of 0.89 suggests significant overlap in exposure. HYDW charges 0.20%/yr vs 0.37%/yr for HYGV.
Performance
HYDW vs. HYGV - Performance Comparison
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Returns By Period
In the year-to-date period, HYDW achieves a 1.25% return, which is significantly lower than HYGV's 1.78% return.
HYDW
- 1D
- -0.13%
- 1M
- 0.47%
- YTD
- 1.25%
- 6M
- 1.45%
- 1Y
- 5.43%
- 3Y*
- 7.32%
- 5Y*
- 3.54%
- 10Y*
- —
HYGV
- 1D
- -0.10%
- 1M
- 0.69%
- YTD
- 1.78%
- 6M
- 2.06%
- 1Y
- 6.62%
- 3Y*
- 8.63%
- 5Y*
- 3.42%
- 10Y*
- —
HYDW vs. HYGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYDW Xtrackers Low Beta High Yield Bond ETF | 1.25% | 8.47% | 5.42% | 9.84% | -7.86% | 2.77% | 5.51% | 11.44% | -0.48% |
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 1.78% | 7.92% | 8.02% | 12.11% | -12.60% | 5.93% | 8.01% | 15.76% | -4.15% |
Correlation
The correlation between HYDW and HYGV is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018 | 0.89 |
The correlation between HYDW and HYGV has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
HYDW vs. HYGV — Risk / Return Rank
HYDW
HYGV
HYDW vs. HYGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Low Beta High Yield Bond ETF (HYDW) and FlexShares High Yield Value-Scored US Bond Index Fund (HYGV). 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.
| HYDW | HYGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.47 | +0.13 |
| Martin ratioReturn relative to average drawdown | 12.38 | 10.65 | +1.73 |
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Drawdowns
HYDW vs. HYGV - Drawdown Comparison
The maximum HYDW drawdown since its inception was -17.75%, smaller than the maximum HYGV drawdown of -23.47%. Use the drawdown chart below to compare losses from any high point for HYDW and HYGV.
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Drawdown Indicators
| HYDW | HYGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.75% | -23.47% | +5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.09% | -2.68% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -5.56% | +1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -12.68% | -17.12% | +4.44% |
Current DrawdownCurrent decline from peak | -0.13% | -0.17% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.88% | -3.30% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.44% | 0.62% | -0.18% |
Volatility
HYDW vs. HYGV - Volatility Comparison
The current volatility for Xtrackers Low Beta High Yield Bond ETF (HYDW) is 0.67%, while FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) has a volatility of 1.04%. This indicates that HYDW experiences smaller price fluctuations and is considered to be less risky than HYGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDW | HYGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 1.04% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 2.30% | 3.10% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.95% | 3.89% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.41% | 7.60% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.97% | 9.17% | -2.20% |
HYDW vs. HYGV - Expense Ratio Comparison
HYDW has a 0.20% expense ratio, which is lower than HYGV's 0.37% expense ratio.
Dividends
HYDW vs. HYGV - Dividend Comparison
HYDW's dividend yield for the trailing twelve months is around 5.73%, less than HYGV's 7.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYDW Xtrackers Low Beta High Yield Bond ETF | 5.73% | 5.75% | 5.35% | 5.69% | 4.78% | 3.30% | 4.45% | 4.56% | 4.42% |
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.38% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% |
Frequently Asked Questions
HYDW and HYGV have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYGV has higher volatility (1.04%) compared to HYDW (0.67%). In terms of maximum drawdown, HYDW dropped -17.75% vs HYGV's -23.47%.
On 5-year performance, HYDW leads with 3.54% vs 3.42% for HYGV. On fees, HYDW is cheaper at 0.20% per year. On volatility, HYDW has been the lower-risk option at 0.67%. 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 3.54% return vs 3.42%. 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 0.37% for HYGV.
HYGV has the higher dividend yield at 7.38%, compared with 5.73% for HYDW.
HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index, while HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index. They also come from different issuers: Deutsche Bank and Northern Trust. Their fees differ too: 0.20% for HYDW and 0.37% for HYGV.
HYDW currently has the higher Sharpe Ratio (1.85 vs 1.71), 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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