HYUP vs. SHY
HYUP (Xtrackers High Beta High Yield Bond ETF) and SHY (iShares 1-3 Year Treasury Bond ETF) 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 SHY is a Government Bonds fund tracking the ICE US Treasury 1-3 Year Index. Both are passively managed. Over the past 5 years, HYUP returned 4.39%/yr vs 1.71%/yr for SHY. At a 0.22 correlation, their price movements are largely independent. HYUP charges 0.20%/yr vs 0.15%/yr for SHY.
Performance
HYUP vs. SHY - Performance Comparison
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Returns By Period
In the year-to-date period, HYUP achieves a 1.63% return, which is significantly higher than SHY's 0.43% return.
HYUP
- 1D
- -0.33%
- 1M
- 0.54%
- YTD
- 1.63%
- 6M
- 2.12%
- 1Y
- 7.43%
- 3Y*
- 10.16%
- 5Y*
- 4.39%
- 10Y*
- —
SHY
- 1D
- -0.05%
- 1M
- 0.08%
- YTD
- 0.43%
- 6M
- 0.69%
- 1Y
- 3.32%
- 3Y*
- 4.03%
- 5Y*
- 1.71%
- 10Y*
- 1.65%
HYUP vs. SHY - 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% |
SHY iShares 1-3 Year Treasury Bond ETF | 0.43% | 4.95% | 3.92% | 4.16% | -3.88% | -0.71% | 3.03% | 3.38% | 1.59% |
Correlation
The correlation between HYUP and SHY is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018 | 0.22 |
Over the past year, HYUP and SHY have become more correlated (0.46) than their long-term average of 0.22, meaning their price movements have been converging.
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Return for Risk
HYUP vs. SHY — Risk / Return Rank
HYUP
SHY
HYUP vs. SHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers High Beta High Yield Bond ETF (HYUP) and iShares 1-3 Year Treasury Bond ETF (SHY). 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 | SHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 2.49 | -0.72 |
Sortino ratioReturn per unit of downside risk | 2.68 | 4.10 | -1.43 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.51 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.75 | -1.30 |
Martin ratioReturn relative to average drawdown | 10.46 | 15.21 | -4.75 |
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 | SHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 2.49 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.87 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.06 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 1.28 | -0.77 |
Drawdowns
HYUP vs. SHY - Drawdown Comparison
The maximum HYUP drawdown since its inception was -24.79%, which is greater than SHY's maximum drawdown of -5.71%. Use the drawdown chart below to compare losses from any high point for HYUP and SHY.
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Drawdown Indicators
| HYUP | SHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.79% | -5.71% | -19.08% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -0.89% | -2.16% |
Max Drawdown (3Y)Largest decline over 3 years | -6.03% | -0.97% | -5.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.06% | -5.71% | -12.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.71% | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.31% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -3.42% | -0.52% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.22% | +0.49% |
Volatility
HYUP vs. SHY - Volatility Comparison
Xtrackers High Beta High Yield Bond ETF (HYUP) has a higher volatility of 1.35% compared to iShares 1-3 Year Treasury Bond ETF (SHY) at 0.35%. This indicates that HYUP's price experiences larger fluctuations and is considered to be riskier than SHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYUP | SHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 0.35% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.35% | 0.92% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.24% | 1.34% | +2.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.27% | 1.98% | +6.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.75% | 1.57% | +8.18% |
HYUP vs. SHY - Expense Ratio Comparison
HYUP has a 0.20% expense ratio, which is higher than SHY's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HYUP vs. SHY - Dividend Comparison
HYUP's dividend yield for the trailing twelve months is around 7.33%, more than SHY's 3.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
SHY iShares 1-3 Year Treasury Bond ETF | 3.68% | 3.81% | 3.92% | 2.99% | 1.30% | 0.26% | 0.94% | 2.12% | 1.72% | 0.98% | 0.71% | 0.54% |
Frequently Asked Questions
HYUP and SHY have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYUP has higher volatility (1.35%) compared to SHY (0.35%). In terms of maximum drawdown, HYUP dropped -24.79% vs SHY's -5.71%.
On 5-year performance, HYUP leads with 4.39% vs 1.71% for SHY. On fees, SHY is cheaper at 0.15% per year. On volatility, SHY has been the lower-risk option at 0.35%. 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 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHY is cheaper with a 0.15% expense ratio, compared with 0.20% for HYUP.
HYUP has the higher dividend yield at 7.33%, compared with 3.68% for SHY.
HYUP is categorized as High Yield Bonds, while SHY is Government Bonds. HYUP tracks Solactive USD High Yield Corporates Total Market High Beta Index, while SHY tracks ICE US Treasury 1-3 Year Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.20% for HYUP and 0.15% for SHY.
SHY currently has the higher Sharpe Ratio (2.49 vs 1.76), 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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