HYLE.DE vs. DBZB.DE
HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both exchange-traded funds - HYLE.DE is a High Yield Bonds fund tracking the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 5 years, HYLE.DE returned 2.18%/yr vs -2.54%/yr for DBZB.DE. At a 0.19 correlation, their price movements are largely independent. HYLE.DE charges 0.55%/yr vs 0.25%/yr for DBZB.DE.
Performance
HYLE.DE vs. DBZB.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HYLE.DE achieves a 0.62% return, which is significantly higher than DBZB.DE's -0.71% return.
HYLE.DE
- 1D
- 0.17%
- 1M
- 0.41%
- YTD
- 0.62%
- 6M
- 1.13%
- 1Y
- 4.13%
- 3Y*
- 6.29%
- 5Y*
- 2.18%
- 10Y*
- —
DBZB.DE
- 1D
- 0.15%
- 1M
- 0.28%
- YTD
- -0.71%
- 6M
- -1.15%
- 1Y
- -0.05%
- 3Y*
- 0.76%
- 5Y*
- -2.54%
- 10Y*
- -0.99%
HYLE.DE vs. DBZB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 0.62% | 5.98% | 5.45% | 9.62% | -10.62% | 3.02% | 2.52% | 3.53% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -0.71% | 1.28% | -0.41% | 3.56% | -15.11% | -3.19% | 4.16% | 2.88% |
Correlation
The correlation between HYLE.DE and DBZB.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019 | 0.19 |
Over the past year, HYLE.DE and DBZB.DE have become more correlated (0.44) than their long-term average of 0.19, meaning their price movements have been converging.
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Return for Risk
HYLE.DE vs. DBZB.DE — Risk / Return Rank
HYLE.DE
DBZB.DE
HYLE.DE vs. DBZB.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) and Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE). 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.
| HYLE.DE | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.89 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.00 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.45 | -0.01 | +1.47 |
| Martin ratioReturn relative to average drawdown | 6.60 | -0.04 | +6.64 |
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
| HYLE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | -0.01 | +1.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | -0.47 | +0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.21 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.22 | +0.09 |
Drawdowns
HYLE.DE vs. DBZB.DE - Drawdown Comparison
The maximum HYLE.DE drawdown since its inception was -22.59%, roughly equal to the maximum DBZB.DE drawdown of -21.88%. Use the drawdown chart below to compare losses from any high point for HYLE.DE and DBZB.DE.
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Drawdown Indicators
| HYLE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.59% | -21.88% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.52% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -4.05% | -5.14% | +1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -15.38% | -19.51% | +4.13% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.88% | — |
Current DrawdownCurrent decline from peak | -0.23% | -16.44% | +16.21% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -5.97% | +2.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.26% | -0.63% |
Volatility
HYLE.DE vs. DBZB.DE - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) is 1.06%, while Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) has a volatility of 1.48%. This indicates that HYLE.DE experiences smaller price fluctuations and is considered to be less risky than DBZB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLE.DE | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.48% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.83% | 3.06% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 3.86% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 5.37% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.39% | 4.74% | +3.65% |
HYLE.DE vs. DBZB.DE - Expense Ratio Comparison
HYLE.DE has a 0.55% expense ratio, which is higher than DBZB.DE's 0.25% expense ratio.
Dividends
HYLE.DE vs. DBZB.DE - Dividend Comparison
HYLE.DE's dividend yield for the trailing twelve months is around 5.36%, while DBZB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 5.36% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% |
Frequently Asked Questions
HYLE.DE and DBZB.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBZB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBZB.DE is cheaper with a 0.25% expense ratio, compared with 0.55% for HYLE.DE.
HYLE.DE is categorized as High Yield Bonds, while DBZB.DE is Global Bonds. HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.55% for HYLE.DE and 0.25% for DBZB.DE.
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