HYDW vs. VWEAX

Last updated Jun 23, 2026

HYDW (Xtrackers Low Beta High Yield Bond ETF) and VWEAX (Vanguard High-Yield Corporate Fund Admiral Shares) are both High Yield Bonds funds. HYDW is passively managed, while VWEAX is actively managed. Over the past 5 years, HYDW returned 3.54%/yr vs 4.12%/yr for VWEAX. A 0.59 correlation means they provide meaningful diversification when combined. HYDW charges 0.20%/yr vs 0.12%/yr for VWEAX.

Performance

HYDW vs. VWEAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Low Beta High Yield Bond ETF (HYDW) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYDW achieves a 1.25% return, which is significantly higher than VWEAX's 1.01% return.

HYDW

• 1D: -0.13%
• 1M: 0.47%
• YTD: 1.25%
• 6M: 1.45%
• 1Y: 5.43%
• 3Y*: 7.32%
• 5Y*: 3.54%
• 10Y*: —

VWEAX

• 1D: 0.00%
• 1M: 0.72%
• YTD: 1.01%
• 6M: 1.72%
• 1Y: 6.54%
• 3Y*: 8.14%
• 5Y*: 4.12%
• 10Y*: 5.22%

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

HYDW vs. VWEAX - 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%	-1.15%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	1.01%	9.49%	6.42%	11.79%	-8.95%	3.04%	5.41%	15.92%	-2.97%

Correlation

The correlation between HYDW and VWEAX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.59

The correlation between HYDW and VWEAX has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

Return for Risk

HYDW vs. VWEAX — Risk / Return Rank

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

HYDW

HYDW Risk / Return Rank: 61
HYDW Sharpe Ratio Rank: 56
HYDW Sortino Ratio Rank: 63
HYDW Omega Ratio Rank: 63
HYDW Calmar Ratio Rank: 55
HYDW Martin Ratio Rank: 69

VWEAX

VWEAX Risk / Return Rank: 71
VWEAX Sharpe Ratio Rank: 57
VWEAX Sortino Ratio Rank: 82
VWEAX Omega Ratio Rank: 83
VWEAX Calmar Ratio Rank: 54
VWEAX Martin Ratio Rank: 78

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.

HYDW vs. VWEAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Low Beta High Yield Bond ETF (HYDW) and Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX). 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	VWEAX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.06	-0.21
Sortino ratio: Return per unit of downside risk	2.84	3.56	-0.72
Omega ratio: Gain probability vs. loss probability	1.37	1.50	-0.14
Calmar ratio: Return relative to maximum drawdown	2.61	2.68	-0.07
Martin ratio: Return relative to average drawdown	12.38	13.57	-1.19

HYDW vs. VWEAX - Sharpe Ratio Comparison

The current HYDW Sharpe Ratio is 1.85, which is comparable to the VWEAX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HYDW and VWEAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYDW vs. VWEAX - Drawdown Comparison

The maximum HYDW drawdown since its inception was -17.75%, smaller than the maximum VWEAX drawdown of -30.05%. Use the drawdown chart below to compare losses from any high point for HYDW and VWEAX.

Drawdown Indicators

	HYDW	VWEAX	Difference
Max Drawdown Largest peak-to-trough decline	-17.75%	-30.05%	+12.30%
Max Drawdown (1Y) Largest decline over 1 year	-2.09%	-2.52%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-3.64%	-3.32%	-0.32%
Max Drawdown (5Y) Largest decline over 5 years	-12.68%	-13.77%	+1.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.68%	—
Current Drawdown Current decline from peak	-0.13%	-0.18%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.88%	-2.12%	+0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	0.50%	-0.06%

Volatility

HYDW vs. VWEAX - Volatility Comparison

The current volatility for Xtrackers Low Beta High Yield Bond ETF (HYDW) is 0.67%, while Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) has a volatility of 0.88%. This indicates that HYDW experiences smaller price fluctuations and is considered to be less risky than VWEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYDW	VWEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	0.88%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	2.62%	-0.32%
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	3.29%	-0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.41%	4.92%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.97%	5.27%	+1.70%

HYDW vs. VWEAX - Expense Ratio Comparison

HYDW has a 0.20% expense ratio, which is higher than VWEAX's 0.12% 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

HYDW vs. VWEAX - Dividend Comparison

HYDW's dividend yield for the trailing twelve months is around 5.73%, less than VWEAX's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
VWEAX Vanguard High-Yield Corporate Fund Admiral Shares	6.37%	6.25%	6.20%	5.79%	5.21%	3.49%	4.71%	5.33%	6.07%	5.39%	5.51%	6.53%

Frequently Asked Questions

Can I hold both HYDW and VWEAX in my portfolio?

HYDW and VWEAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYDW or VWEAX?

VWEAX has higher volatility (0.88%) compared to HYDW (0.67%). In terms of maximum drawdown, HYDW dropped -17.75% vs VWEAX's -30.05%.

Which has better risk-adjusted returns?

VWEAX currently has the higher Sharpe Ratio (2.06 vs 1.85), 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.