HYLB vs. DBEF
HYLB (Xtrackers USD High Yield Corporate Bond ETF) and DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) are both exchange-traded funds - HYLB is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index, while DBEF is a Hedge Fund fund tracking the MSCI EAFE US Dollar Hedged Index. Both are passively managed. Over the past 5 years, HYLB returned 4.06%/yr vs 13.25%/yr for DBEF. A 0.62 correlation means they provide meaningful diversification when combined. HYLB charges 0.15%/yr vs 0.36%/yr for DBEF.
Performance
HYLB vs. DBEF - 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 DBEF's 10.91% return.
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
DBEF
- 1D
- 0.60%
- 1M
- 3.93%
- YTD
- 10.91%
- 6M
- 12.80%
- 1Y
- 25.26%
- 3Y*
- 18.22%
- 5Y*
- 13.25%
- 10Y*
- 12.11%
HYLB vs. DBEF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 10.91% | 23.16% | 13.40% | 20.15% | -5.13% | 19.60% | 2.03% | 24.94% | -9.52% | 16.74% |
Correlation
The correlation between HYLB and DBEF is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.62 |
The correlation between HYLB and DBEF has been stable across timeframes, ranging from 0.58 to 0.62 - a consistent structural relationship.
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Return for Risk
HYLB vs. DBEF — Risk / Return Rank
HYLB
DBEF
HYLB vs. DBEF - 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 MSCI EAFE Hedged Equity ETF (DBEF). 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 | DBEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.38 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 2.70 | +0.30 |
| Martin ratioReturn relative to average drawdown | 12.90 | 11.35 | +1.56 |
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 | DBEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.05 | -0.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.97 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.77 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.55 | +0.03 |
Drawdowns
HYLB vs. DBEF - Drawdown Comparison
The maximum HYLB drawdown since its inception was -22.91%, smaller than the maximum DBEF drawdown of -32.46%. Use the drawdown chart below to compare losses from any high point for HYLB and DBEF.
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Drawdown Indicators
| HYLB | DBEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -32.46% | +9.55% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -9.41% | +7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -14.62% | +10.11% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -14.95% | -0.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.46% | — |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -4.73% | +2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 2.23% | -1.70% |
Volatility
HYLB vs. DBEF - Volatility Comparison
The current volatility for Xtrackers USD High Yield Corporate Bond ETF (HYLB) is 1.19%, while Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) has a volatility of 3.82%. This indicates that HYLB experiences smaller price fluctuations and is considered to be less risky than DBEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLB | DBEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 3.82% | -2.63% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 10.15% | -7.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 12.38% | -8.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 13.74% | -6.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.18% | 15.79% | -7.61% |
HYLB vs. DBEF - Expense Ratio Comparison
HYLB has a 0.15% expense ratio, which is lower than DBEF's 0.36% expense ratio.
Dividends
HYLB vs. DBEF - Dividend Comparison
HYLB's dividend yield for the trailing twelve months is around 6.48%, more than DBEF's 5.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBEF Xtrackers MSCI EAFE Hedged Equity ETF | 5.00% | 5.55% | 1.29% | 4.46% | 15.85% | 2.28% | 2.41% | 3.03% | 3.22% | 2.98% | 2.55% | 3.70% |
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% | 0.00% |
Frequently Asked Questions
HYLB and DBEF have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBEF has higher volatility (3.82%) compared to HYLB (1.19%). In terms of maximum drawdown, HYLB dropped -22.91% vs DBEF's -32.46%.
On 5-year performance, DBEF leads with 13.25% vs 4.06% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, HYLB has been the lower-risk option at 1.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBEF has performed better with a 13.25% return vs 4.06%. 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 0.36% for DBEF.
HYLB has the higher dividend yield at 6.48%, compared with 5.00% for DBEF.
HYLB is categorized as High Yield Bonds, while DBEF is Hedge Fund. HYLB tracks Solactive USD High Yield Corporates Total Market Index, while DBEF tracks MSCI EAFE US Dollar Hedged Index. Their fees differ too: 0.15% for HYLB and 0.36% for DBEF.
DBEF currently has the higher Sharpe Ratio (2.05 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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