HYGV vs. HYLB
HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYGV tracks the Northern Trust High Yield Value-Scored US Corporate Bond Index while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, HYGV returned 3.52%/yr vs 4.06%/yr for HYLB. Their correlation of 0.93 suggests significant overlap in exposure. HYGV charges 0.37%/yr vs 0.15%/yr for HYLB.
Performance
HYGV vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, HYGV achieves a 1.56% return, which is significantly lower than HYLB's 1.65% return.
HYGV
- 1D
- 0.14%
- 1M
- 0.39%
- YTD
- 1.56%
- 6M
- 1.85%
- 1Y
- 6.88%
- 3Y*
- 8.51%
- 5Y*
- 3.52%
- 10Y*
- —
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
HYGV vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 1.56% | 7.92% | 8.02% | 12.11% | -12.60% | 5.93% | 8.01% | 15.76% | -4.15% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -2.39% |
Correlation
The correlation between HYGV and HYLB is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jul 19, 2018 | 0.93 |
The correlation between HYGV and HYLB has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
HYGV vs. HYLB — Risk / Return Rank
HYGV
HYLB
HYGV vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.
| HYGV | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.36 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 3.00 | -0.43 |
| Martin ratioReturn relative to average drawdown | 11.11 | 12.90 | -1.79 |
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
| HYGV | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.80 | 1.84 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.55 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.58 | -0.03 |
Drawdowns
HYGV vs. HYLB - Drawdown Comparison
The maximum HYGV drawdown since its inception was -23.47%, roughly equal to the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for HYGV and HYLB.
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Drawdown Indicators
| HYGV | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.47% | -22.91% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.68% | -2.27% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | -5.56% | -4.51% | -1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -17.12% | -15.54% | -1.58% |
Current DrawdownCurrent decline from peak | -0.13% | -0.09% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.32% | -2.43% | -0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.62% | 0.53% | +0.09% |
Volatility
HYGV vs. HYLB - Volatility Comparison
FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and Xtrackers USD High Yield Corporate Bond ETF (HYLB) have volatilities of 1.18% and 1.19%, 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.
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Volatility by Period
| HYGV | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 1.19% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 2.92% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.85% | 3.70% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 7.47% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.20% | 8.18% | +1.02% |
HYGV vs. HYLB - Expense Ratio Comparison
HYGV has a 0.37% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
HYGV vs. HYLB - Dividend Comparison
HYGV's dividend yield for the trailing twelve months is around 7.40%, more than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HYGV FlexShares High Yield Value-Scored US Bond Index Fund | 7.40% | 7.48% | 8.20% | 8.77% | 7.64% | 6.07% | 6.18% | 7.95% | 5.63% | 0.00% | 0.00% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.48% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% |
Frequently Asked Questions
With a correlation of 0.96, HYGV and HYLB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HYLB has higher volatility (1.19%) compared to HYGV (1.18%). In terms of maximum drawdown, HYGV dropped -23.47% vs HYLB's -22.91%.
On 5-year performance, HYLB leads with 4.06% vs 3.52% for HYGV. On fees, HYLB is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLB has performed better with a 4.06% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYLB is cheaper with a 0.15% expense ratio, compared with 0.37% for HYGV.
HYGV has the higher dividend yield at 7.40%, compared with 6.48% for HYLB.
HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: Northern Trust and DWS. Their fees differ too: 0.37% for HYGV and 0.15% for HYLB.
HYLB currently has the higher Sharpe Ratio (1.84 vs 1.80), 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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