HYS vs. HYLB
HYS (PIMCO 0-5 Year High Yield Corporate Bond Index ETF) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - HYS tracks the ICE BofA US High Yield Constrained (0-5 Y) while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, HYS returned 5.02%/yr vs 3.93%/yr for HYLB. Their correlation of 0.88 suggests significant overlap in exposure. HYS charges 0.56%/yr vs 0.15%/yr for HYLB.
Performance
HYS vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, HYS achieves a 1.56% return, which is significantly lower than HYLB's 1.67% return.
HYS
- 1D
- 0.01%
- 1M
- 0.62%
- YTD
- 1.56%
- 6M
- 1.72%
- 1Y
- 6.52%
- 3Y*
- 8.76%
- 5Y*
- 5.02%
- 10Y*
- 5.38%
HYLB
- 1D
- -0.11%
- 1M
- 0.46%
- YTD
- 1.67%
- 6M
- 1.81%
- 1Y
- 6.11%
- 3Y*
- 8.96%
- 5Y*
- 3.93%
- 10Y*
- —
HYS vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 1.56% | 8.80% | 8.42% | 11.38% | -5.42% | 4.77% | 3.27% | 10.22% | -1.05% | 5.75% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.67% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between HYS and HYLB is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2016 | 0.88 |
The correlation between HYS and HYLB has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.
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Return for Risk
HYS vs. HYLB — Risk / Return Rank
HYS
HYLB
HYS vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) and Xtrackers USD High Yield Corporate Bond ETF (HYLB). 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.
| HYS | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.32 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 2.70 | +0.77 |
| Martin ratioReturn relative to average drawdown | 14.11 | 11.55 | +2.57 |
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Drawdowns
HYS vs. HYLB - Drawdown Comparison
The maximum HYS drawdown since its inception was -20.91%, smaller than the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for HYS and HYLB.
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Drawdown Indicators
| HYS | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.91% | -22.91% | +2.00% |
Max Drawdown (1Y)Largest decline over 1 year | -1.88% | -2.27% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.98% | -4.51% | -0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -10.61% | -15.54% | +4.93% |
Max Drawdown (10Y)Largest decline over 10 years | -20.91% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | -0.22% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -2.42% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.53% | -0.07% |
Volatility
HYS vs. HYLB - Volatility Comparison
The current volatility for PIMCO 0-5 Year High Yield Corporate Bond Index ETF (HYS) is 0.79%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.06%. This indicates that HYS experiences smaller price fluctuations and is considered to be less risky than HYLB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYS | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.06% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 3.02% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 3.77% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.27% | 7.48% | -1.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.83% | 8.16% | -1.33% |
HYS vs. HYLB - Expense Ratio Comparison
HYS has a 0.56% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
HYS vs. HYLB - Dividend Comparison
HYS's dividend yield for the trailing twelve months is around 7.34%, more than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYS PIMCO 0-5 Year High Yield Corporate Bond Index ETF | 7.34% | 7.20% | 7.43% | 6.44% | 5.01% | 3.74% | 4.52% | 4.98% | 4.64% | 5.01% | 5.13% | 5.22% |
Frequently Asked Questions
With a correlation of 0.91, HYS and HYLB 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.
HYLB has higher volatility (1.06%) compared to HYS (0.79%). In terms of maximum drawdown, HYS dropped -20.91% vs HYLB's -22.91%.
On 5-year performance, HYS leads with 5.02% vs 3.93% for HYLB. On fees, HYLB is cheaper at 0.15% per year. On volatility, HYS has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYS has performed better with a 5.02% return vs 3.93%. 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 0.56% for HYS.
HYS has the higher dividend yield at 7.34%, compared with 6.48% for HYLB.
HYS tracks ICE BofA US High Yield Constrained (0-5 Y), while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: PIMCO and DWS. Their fees differ too: 0.56% for HYS and 0.15% for HYLB.
HYS currently has the higher Sharpe Ratio (1.89 vs 1.63), 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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