HYLB vs. BHYB
HYLB (Xtrackers USD High Yield Corporate Bond ETF) and BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) are both High Yield Bonds funds - HYLB tracks the Solactive USD High Yield Corporates Total Market Index while BHYB tracks the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. Both are passively managed. Over the past year, HYLB returned 6.78% vs 7.27% for BHYB. Their correlation of 0.94 suggests significant overlap in exposure. HYLB charges 0.15%/yr vs 0.20%/yr for BHYB.
Performance
HYLB vs. BHYB - Performance Comparison
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Returns By Period
In the year-to-date period, HYLB achieves a 1.65% return, which is significantly lower than BHYB's 1.84% return.
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
BHYB
- 1D
- 0.16%
- 1M
- 0.50%
- YTD
- 1.84%
- 6M
- 2.25%
- 1Y
- 7.27%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLB vs. BHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 8.41% |
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 1.84% | 8.90% | 6.44% | 8.23% |
Correlation
The correlation between HYLB and BHYB is 0.91, 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 | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2023 | 0.94 |
The correlation between HYLB and BHYB has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
HYLB vs. BHYB — Risk / Return Rank
HYLB
BHYB
HYLB vs. BHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield Corporate Bond ETF (HYLB) and Xtrackers USD High Yield BB-B ex Financials ETF (BHYB). 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.
| HYLB | BHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.44 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 3.21 | -0.21 |
| Martin ratioReturn relative to average drawdown | 12.90 | 14.74 | -1.83 |
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
| HYLB | BHYB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.15 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 2.12 | -1.53 |
Drawdowns
HYLB vs. BHYB - Drawdown Comparison
The maximum HYLB drawdown since its inception was -22.91%, which is greater than BHYB's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for HYLB and BHYB.
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Drawdown Indicators
| HYLB | BHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -4.23% | -18.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -2.27% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | — | — |
Current DrawdownCurrent decline from peak | -0.09% | -0.06% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -0.40% | -2.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.49% | +0.04% |
Volatility
HYLB vs. BHYB - Volatility Comparison
Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a higher volatility of 1.19% compared to Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) at 1.02%. This indicates that HYLB's price experiences larger fluctuations and is considered to be riskier than BHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLB | BHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.02% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.52% | +0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 3.40% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 4.70% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.18% | 4.70% | +3.48% |
HYLB vs. BHYB - Expense Ratio Comparison
HYLB has a 0.15% expense ratio, which is lower than BHYB's 0.20% 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%.
Dividends
HYLB vs. BHYB - Dividend Comparison
HYLB's dividend yield for the trailing twelve months is around 6.48%, more than BHYB's 6.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 6.32% | 6.57% | 7.04% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 0.91, HYLB and BHYB 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 BHYB (1.02%). In terms of maximum drawdown, HYLB dropped -22.91% vs BHYB's -4.23%.
On 1-year performance, BHYB leads with 7.27% vs 6.78% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, BHYB has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BHYB has performed better with a 7.27% return vs 6.78%. 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 0.20% for BHYB.
HYLB has the higher dividend yield at 6.48%, compared with 6.32% for BHYB.
HYLB tracks Solactive USD High Yield Corporates Total Market Index, while BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. They also come from different issuers: DWS and Xtrackers. Their fees differ too: 0.15% for HYLB and 0.20% for BHYB.
BHYB currently has the higher Sharpe Ratio (2.15 vs 1.84), 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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