HYUP vs. DGZ
HYUP (Xtrackers High Beta High Yield Bond ETF) and DGZ (DB Gold Short Exchange Traded Notes) are both exchange-traded funds - HYUP is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market High Beta Index, while DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, HYUP returned 4.39%/yr vs -10.05%/yr for DGZ. At a correlation of -0.09, they often move in opposite directions. HYUP charges 0.20%/yr vs 0.75%/yr for DGZ.
Performance
HYUP vs. DGZ - Performance Comparison
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Returns By Period
In the year-to-date period, HYUP achieves a 1.63% return, which is significantly lower than DGZ's 2.71% return.
HYUP
- 1D
- -0.33%
- 1M
- 0.54%
- YTD
- 1.63%
- 6M
- 2.12%
- 1Y
- 7.43%
- 3Y*
- 10.16%
- 5Y*
- 4.39%
- 10Y*
- —
DGZ
- 1D
- 4.82%
- 1M
- 16.59%
- YTD
- 2.71%
- 6M
- 4.61%
- 1Y
- -15.32%
- 3Y*
- -16.62%
- 5Y*
- -10.05%
- 10Y*
- -8.68%
HYUP vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYUP Xtrackers High Beta High Yield Bond ETF | 1.63% | 8.83% | 10.30% | 14.56% | -13.30% | 5.13% | 5.73% | 16.54% | -3.90% |
DGZ DB Gold Short Exchange Traded Notes | 2.71% | -32.55% | -16.46% | -4.75% | 4.93% | 1.53% | -20.80% | -13.42% | 6.29% |
Correlation
The correlation between HYUP and DGZ is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018 | -0.09 |
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Return for Risk
HYUP vs. DGZ — Risk / Return Rank
HYUP
DGZ
HYUP vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers High Beta High Yield Bond ETF (HYUP) and DB Gold Short Exchange Traded Notes (DGZ). 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.
| HYUP | DGZ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | -0.23 | +1.99 |
Sortino ratioReturn per unit of downside risk | 2.68 | 0.11 | +2.57 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.01 | +0.33 |
Calmar ratioReturn relative to maximum drawdown | 2.45 | -0.40 | +2.85 |
Martin ratioReturn relative to average drawdown | 10.46 | -0.70 | +11.16 |
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
| HYUP | DGZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | -0.23 | +1.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | -0.29 | +0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.32 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | -0.31 | +0.83 |
Drawdowns
HYUP vs. DGZ - Drawdown Comparison
The maximum HYUP drawdown since its inception was -24.79%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for HYUP and DGZ.
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Drawdown Indicators
| HYUP | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.79% | -86.32% | +61.53% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -38.32% | +35.27% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | -59.54% | +53.51% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -61.54% | +43.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.49% | — |
Current DrawdownCurrent decline from peak | -0.36% | -82.41% | +82.05% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -57.74% | +54.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 21.80% | -21.09% |
Volatility
HYUP vs. DGZ - Volatility Comparison
The current volatility for Xtrackers High Beta High Yield Bond ETF (HYUP) is 1.35%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 45.00%. This indicates that HYUP experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYUP | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 45.00% | -43.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 54.96% | -51.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 66.38% | -62.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 35.24% | -26.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.75% | 27.40% | -17.65% |
HYUP vs. DGZ - Expense Ratio Comparison
HYUP has a 0.20% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Dividends
HYUP vs. DGZ - Dividend Comparison
HYUP's dividend yield for the trailing twelve months is around 7.33%, while DGZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYUP Xtrackers High Beta High Yield Bond ETF | 7.33% | 7.44% | 7.78% | 7.48% | 7.15% | 6.19% | 6.89% | 6.77% | 6.98% |
Frequently Asked Questions
HYUP and DGZ have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (45.00%) compared to HYUP (1.35%). In terms of maximum drawdown, HYUP dropped -24.79% vs DGZ's -86.32%.
On 5-year performance, HYUP leads with 4.39% vs -10.05% for DGZ. On fees, HYUP is cheaper at 0.20% per year. On volatility, HYUP has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYUP has performed better with a 4.39% return vs -10.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYUP is cheaper with a 0.20% expense ratio, compared with 0.75% for DGZ.
HYUP has the higher dividend yield at 7.33%, compared with 0.00% for DGZ.
HYUP is categorized as High Yield Bonds, while DGZ is Inverse Commodities. HYUP tracks Solactive USD High Yield Corporates Total Market High Beta Index, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Their fees differ too: 0.20% for HYUP and 0.75% for DGZ.
HYUP currently has the higher Sharpe Ratio (1.76 vs -0.23), 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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