HYLB vs. HYG
HYLB (Xtrackers USD High Yield Corporate Bond ETF) and HYG (iShares iBoxx $ High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYLB tracks the Solactive USD High Yield Corporates Total Market Index while HYG tracks the Markit iBoxx USD Liquid High Yield Index. Both are passively managed. Over the past 5 years, HYLB returned 3.99%/yr vs 3.77%/yr for HYG. With a 0.96 correlation, they move nearly in lockstep. HYLB charges 0.15%/yr vs 0.49%/yr for HYG.
Performance
HYLB vs. HYG - Performance Comparison
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Returns By Period
In the year-to-date period, HYLB achieves a 1.79% return, which is significantly higher than HYG's 1.65% return.
HYLB
- 1D
- -0.03%
- 1M
- 0.57%
- YTD
- 1.79%
- 6M
- 2.03%
- 1Y
- 6.49%
- 3Y*
- 9.00%
- 5Y*
- 3.99%
- 10Y*
- —
HYG
- 1D
- -0.09%
- 1M
- 0.55%
- YTD
- 1.65%
- 6M
- 1.90%
- 1Y
- 6.23%
- 3Y*
- 8.78%
- 5Y*
- 3.77%
- 10Y*
- 5.00%
HYLB vs. HYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.79% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.65% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.02% | 6.07% |
Correlation
The correlation between HYLB and HYG is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2016 | 0.96 |
The correlation between HYLB and HYG has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
HYLB vs. HYG — Risk / Return Rank
HYLB
HYG
HYLB vs. HYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield Corporate Bond ETF (HYLB) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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 | HYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.31 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 2.67 | +0.20 |
| Martin ratioReturn relative to average drawdown | 12.26 | 11.73 | +0.53 |
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Drawdowns
HYLB vs. HYG - Drawdown Comparison
The maximum HYLB drawdown since its inception was -22.91%, smaller than the maximum HYG drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for HYLB and HYG.
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Drawdown Indicators
| HYLB | HYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -34.25% | +11.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -2.34% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -4.51% | -4.56% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.54% | -15.79% | +0.25% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.03% | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.12% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -3.23% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.53% | 0.00% |
Volatility
HYLB vs. HYG - Volatility Comparison
The current volatility for Xtrackers USD High Yield Corporate Bond ETF (HYLB) is 1.06%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.12%. This indicates that HYLB experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLB | HYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.12% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 3.12% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.77% | 3.89% | -0.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.48% | 7.54% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.16% | 8.29% | -0.13% |
HYLB vs. HYG - Expense Ratio Comparison
HYLB has a 0.15% expense ratio, which is lower than HYG's 0.49% expense ratio.
Dividends
HYLB vs. HYG - Dividend Comparison
HYLB's dividend yield for the trailing twelve months is around 6.47%, more than HYG's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.90% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
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% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, HYLB and HYG 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.
HYG has higher volatility (1.12%) compared to HYLB (1.06%). In terms of maximum drawdown, HYLB dropped -22.91% vs HYG's -34.25%.
On 5-year performance, HYLB leads with 3.99% vs 3.77% for HYG. 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 3.99% return vs 3.77%. 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 0.49% for HYG.
HYLB has the higher dividend yield at 6.47%, compared with 5.90% for HYG.
HYLB tracks Solactive USD High Yield Corporates Total Market Index, while HYG tracks Markit iBoxx USD Liquid High Yield Index. They also come from different issuers: DWS and iShares. Their fees differ too: 0.15% for HYLB and 0.49% for HYG.
HYLB currently has the higher Sharpe Ratio (1.73 vs 1.61), 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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