HYLB vs. HYDW
HYLB (Xtrackers USD High Yield Corporate Bond ETF) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both High Yield Bonds funds - HYLB tracks the Solactive USD High Yield Corporates Total Market Index while HYDW tracks the Solactive USD High Yield Corporates Total Market Low Beta Index. Both are passively managed. Over the past 5 years, HYLB returned 3.92%/yr vs 3.50%/yr for HYDW. Their correlation of 0.88 suggests significant overlap in exposure. HYLB charges 0.15%/yr vs 0.20%/yr for HYDW.
Performance
HYLB vs. HYDW - Performance Comparison
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Returns By Period
In the year-to-date period, HYLB achieves a 1.73% return, which is significantly higher than HYDW's 1.34% return.
HYLB
- 1D
- 0.03%
- 1M
- 0.16%
- YTD
- 1.73%
- 6M
- 1.70%
- 1Y
- 5.91%
- 3Y*
- 8.93%
- 5Y*
- 3.92%
- 10Y*
- —
HYDW
- 1D
- 0.05%
- 1M
- 0.35%
- YTD
- 1.34%
- 6M
- 1.39%
- 1Y
- 5.08%
- 3Y*
- 7.27%
- 5Y*
- 3.50%
- 10Y*
- —
HYLB vs. HYDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.73% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -2.05% |
HYDW Xtrackers Low Beta High Yield Bond ETF | 1.34% | 8.47% | 5.42% | 9.84% | -7.86% | 2.77% | 5.51% | 11.44% | -1.15% |
Correlation
The correlation between HYLB and HYDW 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 | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.88 |
The correlation between HYLB and HYDW has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
HYLB vs. HYDW — Risk / Return Rank
HYLB
HYDW
HYLB vs. HYDW - 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 Low Beta High Yield Bond ETF (HYDW). 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.
| HYLB | HYDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.34 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.44 | +0.17 |
| Martin ratioReturn relative to average drawdown | 11.16 | 11.59 | -0.44 |
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Drawdowns
HYLB vs. HYDW - Drawdown Comparison
The maximum HYLB drawdown since its inception was -22.91%, which is greater than HYDW's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for HYLB and HYDW.
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Drawdown Indicators
| HYLB | HYDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -17.75% | -5.16% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -2.09% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -3.64% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -12.68% | -2.86% |
Current DrawdownCurrent decline from peak | -0.16% | -0.04% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -1.88% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.44% | +0.09% |
Volatility
HYLB vs. HYDW - Volatility Comparison
Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a higher volatility of 1.00% compared to Xtrackers Low Beta High Yield Bond ETF (HYDW) at 0.63%. This indicates that HYLB's price experiences larger fluctuations and is considered to be riskier than HYDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLB | HYDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 0.63% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 3.01% | 2.28% | +0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 2.94% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 6.41% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.16% | 6.97% | +1.19% |
HYLB vs. HYDW - Expense Ratio Comparison
HYLB has a 0.15% expense ratio, which is lower than HYDW'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. HYDW - Dividend Comparison
HYLB's dividend yield for the trailing twelve months is around 6.47%, more than HYDW's 5.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 6.47% | 6.29% | 6.31% | 5.84% | 5.53% | 4.45% | 5.22% | 5.71% | 5.95% | 5.85% | 0.27% |
Frequently Asked Questions
HYLB and HYDW 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.
HYLB has higher volatility (1.00%) compared to HYDW (0.63%). In terms of maximum drawdown, HYLB dropped -22.91% vs HYDW's -17.75%.
On 5-year performance, HYLB leads with 3.92% vs 3.50% for HYDW. On fees, HYLB is cheaper at 0.15% per year. On volatility, HYDW has been the lower-risk option at 0.63%. 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 3.92% return vs 3.50%. 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 HYDW.
HYLB has the higher dividend yield at 6.47%, compared with 5.73% for HYDW.
HYLB tracks Solactive USD High Yield Corporates Total Market Index, while HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index. They also come from different issuers: DWS and Deutsche Bank. Their fees differ too: 0.15% for HYLB and 0.20% for HYDW.
HYDW currently has the higher Sharpe Ratio (1.74 vs 1.58), 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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