HYLB vs. PYLD
HYLB (Xtrackers USD High Yield Corporate Bond ETF) and PYLD (PIMCO Multisector Bond Active Exchange-Traded Fund) are both exchange-traded funds - HYLB is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Index, while PYLD is a Multisector Bonds fund actively managed by PIMCO. HYLB is passively managed, while PYLD is actively managed. Over the past year, HYLB returned 6.78% vs 6.91% for PYLD. A 0.64 correlation means they provide meaningful diversification when combined. HYLB charges 0.15%/yr vs 0.55%/yr for PYLD.
Performance
HYLB vs. PYLD - Performance Comparison
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Returns By Period
In the year-to-date period, HYLB achieves a 1.65% return, which is significantly higher than PYLD's 0.98% return.
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
PYLD
- 1D
- 0.04%
- 1M
- 0.49%
- YTD
- 0.98%
- 6M
- 1.43%
- 1Y
- 6.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYLB vs. PYLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 7.91% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 0.98% | 9.57% | 7.69% | 5.60% |
Correlation
The correlation between HYLB and PYLD is 0.70, 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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.64 |
The correlation between HYLB and PYLD has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
HYLB vs. PYLD — Risk / Return Rank
HYLB
PYLD
HYLB vs. PYLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD High Yield Corporate Bond ETF (HYLB) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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 | PYLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.45 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 2.14 | +0.86 |
| Martin ratioReturn relative to average drawdown | 12.90 | 9.76 | +3.14 |
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 | PYLD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.28 | -0.44 |
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 | 2.05 | -1.46 |
Drawdowns
HYLB vs. PYLD - Drawdown Comparison
The maximum HYLB drawdown since its inception was -22.91%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for HYLB and PYLD.
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Drawdown Indicators
| HYLB | PYLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.91% | -4.52% | -18.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.27% | -3.25% | +0.98% |
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% | -0.40% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -0.65% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 0.71% | -0.18% |
Volatility
HYLB vs. PYLD - Volatility Comparison
Xtrackers USD High Yield Corporate Bond ETF (HYLB) and PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) have volatilities of 1.19% and 1.24%, 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
| HYLB | PYLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.24% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.92% | 2.50% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.70% | 3.08% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.47% | 3.98% | +3.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.18% | 3.98% | +4.20% |
HYLB vs. PYLD - Expense Ratio Comparison
HYLB has a 0.15% expense ratio, which is lower than PYLD's 0.55% expense ratio.
Dividends
HYLB vs. PYLD - Dividend Comparison
HYLB's dividend yield for the trailing twelve months is around 6.48%, more than PYLD's 6.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PYLD PIMCO Multisector Bond Active Exchange-Traded Fund | 6.29% | 6.21% | 6.40% | 2.72% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYLB and PYLD have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PYLD has higher volatility (1.24%) compared to HYLB (1.19%). In terms of maximum drawdown, HYLB dropped -22.91% vs PYLD's -4.52%.
On 1-year performance, PYLD leads with 6.91% vs 6.78% for HYLB. 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 1-year period, PYLD has performed better with a 6.91% 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 0.55% for PYLD.
HYLB has the higher dividend yield at 6.48%, compared with 6.29% for PYLD.
HYLB is categorized as High Yield Bonds, while PYLD is Multisector Bonds. They also come from different issuers: DWS and PIMCO. Their fees differ too: 0.15% for HYLB and 0.55% for PYLD.
PYLD currently has the higher Sharpe Ratio (2.28 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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