HYUP vs. PHYD

Last updated Jun 25, 2026

HYUP (Xtrackers High Beta High Yield Bond ETF) and PHYD (Putnam ESG High Yield ETF -) are both High Yield Bonds funds. HYUP is passively managed, while PHYD is actively managed. Over the past 3 years, HYUP returned 10.27%/yr vs 8.72%/yr for PHYD. Their correlation of 0.83 suggests significant overlap in exposure. HYUP charges 0.20%/yr vs 0.55%/yr for PHYD.

Performance

HYUP vs. PHYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers High Beta High Yield Bond ETF (HYUP) and Putnam ESG High Yield ETF - (PHYD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYUP achieves a 1.75% return, which is significantly lower than PHYD's 2.32% return.

HYUP

• 1D: -0.08%
• 1M: 0.34%
• YTD: 1.75%
• 6M: 1.80%
• 1Y: 6.17%
• 3Y*: 10.27%
• 5Y*: 4.24%
• 10Y*: —

PHYD

• 1D: 0.17%
• 1M: -0.19%
• YTD: 2.32%
• 6M: 2.40%
• 1Y: 6.94%
• 3Y*: 8.72%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYUP vs. PHYD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HYUP Xtrackers High Beta High Yield Bond ETF	1.75%	8.83%	10.30%	10.08%
PHYD Putnam ESG High Yield ETF -	2.32%	8.84%	7.35%	8.30%

Correlation

The correlation between HYUP and PHYD is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 20, 2023	0.83

The correlation between HYUP and PHYD has been stable across timeframes, ranging from 0.81 to 0.83 - a consistent structural relationship.

Return for Risk

HYUP vs. PHYD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYUP

HYUP Risk / Return Rank: 49
HYUP Sharpe Ratio Rank: 46
HYUP Sortino Ratio Rank: 50
HYUP Omega Ratio Rank: 49
HYUP Calmar Ratio Rank: 45
HYUP Martin Ratio Rank: 56

PHYD

PHYD Risk / Return Rank: 84
PHYD Sharpe Ratio Rank: 81
PHYD Sortino Ratio Rank: 89
PHYD Omega Ratio Rank: 86
PHYD Calmar Ratio Rank: 79
PHYD Martin Ratio Rank: 83

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYUP vs. PHYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers High Beta High Yield Bond ETF (HYUP) and Putnam ESG High Yield ETF - (PHYD). 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.

	HYUP	PHYD	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.28	-0.83
Sortino ratio: Return per unit of downside risk	2.20	3.62	-1.41
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	2.03	3.66	-1.63
Martin ratio: Return relative to average drawdown	8.63	14.79	-6.16

HYUP vs. PHYD - Sharpe Ratio Comparison

The current HYUP Sharpe Ratio is 1.45, which is lower than the PHYD Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of HYUP and PHYD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYUP vs. PHYD - Drawdown Comparison

The maximum HYUP drawdown since its inception was -24.79%, which is greater than PHYD's maximum drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for HYUP and PHYD.

Drawdown Indicators

	HYUP	PHYD	Difference
Max Drawdown Largest peak-to-trough decline	-24.79%	-4.33%	-20.46%
Max Drawdown (1Y) Largest decline over 1 year	-3.05%	-2.10%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-6.03%	-4.14%	-1.89%
Max Drawdown (5Y) Largest decline over 5 years	-18.06%	—	—
Current Drawdown Current decline from peak	-0.46%	-0.79%	+0.33%
Average Drawdown Average peak-to-trough decline	-3.40%	-0.62%	-2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.52%	+0.20%

Volatility

HYUP vs. PHYD - Volatility Comparison

Xtrackers High Beta High Yield Bond ETF (HYUP) and Putnam ESG High Yield ETF - (PHYD) have volatilities of 1.12% and 1.07%, 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.

Volatility by Period

	HYUP	PHYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	1.07%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	2.57%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	4.27%	3.36%	+0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.29%	4.58%	+3.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.72%	4.58%	+5.14%

HYUP vs. PHYD - Expense Ratio Comparison

HYUP has a 0.20% expense ratio, which is lower than PHYD's 0.55% expense ratio.

Dividends

HYUP vs. PHYD - Dividend Comparison

HYUP's dividend yield for the trailing twelve months is around 7.32%, less than PHYD's 8.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HYUP Xtrackers High Beta High Yield Bond ETF	7.32%	7.44%	7.78%	7.48%	7.15%	6.19%	6.89%	6.77%	6.98%
PHYD Putnam ESG High Yield ETF -	8.52%	6.63%	6.80%	6.15%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYUP and PHYD in my portfolio?

HYUP and PHYD have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYUP or PHYD?

HYUP has higher volatility (1.12%) compared to PHYD (1.07%). In terms of maximum drawdown, HYUP dropped -24.79% vs PHYD's -4.33%.

Which ETF is better, HYUP or PHYD?

On 3-year performance, HYUP leads with 10.27% vs 8.72% for PHYD. On fees, HYUP is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYUP or PHYD?

Over the 3-year period, HYUP has performed better with a 10.27% return vs 8.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYUP or PHYD?

HYUP is cheaper with a 0.20% expense ratio, compared with 0.55% for PHYD.

Which ETF pays a higher dividend yield, HYUP or PHYD?

PHYD has the higher dividend yield at 8.52%, compared with 7.32% for HYUP.

What is the main difference between HYUP and PHYD?

They also come from different issuers: Deutsche Bank and Putnam. Their fees differ too: 0.20% for HYUP and 0.55% for PHYD.

Which has better risk-adjusted returns?

PHYD currently has the higher Sharpe Ratio (2.28 vs 1.45), 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.