KOKU vs. HYDW

Last updated Jun 6, 2026

KOKU (Xtrackers MSCI Kokusai Equity ETF) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both exchange-traded funds - KOKU is a Large Cap Growth Equities fund tracking the MSCI Kokusai Index (World ex Japan), while HYDW is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market Low Beta Index. Both are passively managed. Over the past 5 years, KOKU returned 11.69%/yr vs 3.52%/yr for HYDW. A 0.68 correlation means they provide meaningful diversification when combined. KOKU charges 0.09%/yr vs 0.20%/yr for HYDW.

Performance

KOKU vs. HYDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Kokusai Equity ETF (KOKU) and Xtrackers Low Beta High Yield Bond ETF (HYDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KOKU achieves a 7.33% return, which is significantly higher than HYDW's 0.77% return.

KOKU

• 1D: -2.72%
• 1M: -0.32%
• YTD: 7.33%
• 6M: 7.81%
• 1Y: 23.41%
• 3Y*: 20.15%
• 5Y*: 11.69%
• 10Y*: —

HYDW

• 1D: -0.27%
• 1M: -0.26%
• YTD: 0.77%
• 6M: 1.20%
• 1Y: 5.37%
• 3Y*: 6.83%
• 5Y*: 3.52%
• 10Y*: —

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

KOKU vs. HYDW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
KOKU Xtrackers MSCI Kokusai Equity ETF	7.33%	21.45%	19.45%	24.23%	-17.83%	23.84%	40.42%
HYDW Xtrackers Low Beta High Yield Bond ETF	0.77%	8.47%	5.42%	9.84%	-7.86%	2.77%	13.18%

Correlation

The correlation between KOKU and HYDW is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.68

The correlation between KOKU and HYDW has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.

Return for Risk

KOKU vs. HYDW — Risk / Return Rank

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

KOKU

KOKU Risk / Return Rank: 60
KOKU Sharpe Ratio Rank: 60
KOKU Sortino Ratio Rank: 59
KOKU Omega Ratio Rank: 59
KOKU Calmar Ratio Rank: 56
KOKU Martin Ratio Rank: 67

HYDW

HYDW Risk / Return Rank: 61
HYDW Sharpe Ratio Rank: 57
HYDW Sortino Ratio Rank: 63
HYDW Omega Ratio Rank: 62
HYDW Calmar Ratio Rank: 55
HYDW Martin Ratio Rank: 69

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.

KOKU vs. HYDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Kokusai Equity ETF (KOKU) and Xtrackers Low Beta High Yield Bond ETF (HYDW). 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.

	KOKU	HYDW	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.82	+0.07
Sortino ratio: Return per unit of downside risk	2.62	2.79	-0.18
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	2.60	2.58	+0.02
Martin ratio: Return relative to average drawdown	11.67	12.28	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KOKU vs. HYDW - Sharpe Ratio Comparison

The current KOKU Sharpe Ratio is 1.89, which is comparable to the HYDW Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of KOKU and HYDW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KOKU	HYDW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.82	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.55	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.58	+0.49

Drawdowns

KOKU vs. HYDW - Drawdown Comparison

The maximum KOKU drawdown since its inception was -25.77%, which is greater than HYDW's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for KOKU and HYDW.

Drawdown Indicators

	KOKU	HYDW	Difference
Max Drawdown Largest peak-to-trough decline	-25.77%	-17.75%	-8.02%
Max Drawdown (1Y) Largest decline over 1 year	-9.04%	-2.09%	-6.95%
Max Drawdown (3Y) Largest decline over 3 years	-17.73%	-3.64%	-14.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.77%	-12.68%	-13.09%
Current Drawdown Current decline from peak	-2.95%	-0.37%	-2.58%
Average Drawdown Average peak-to-trough decline	-4.82%	-1.89%	-2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	0.44%	+1.57%

Volatility

KOKU vs. HYDW - Volatility Comparison

Xtrackers MSCI Kokusai Equity ETF (KOKU) has a higher volatility of 4.06% compared to Xtrackers Low Beta High Yield Bond ETF (HYDW) at 0.74%. This indicates that KOKU's price experiences larger fluctuations and is considered to be riskier than HYDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KOKU	HYDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	0.74%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	2.28%	+7.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	2.96%	+9.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	6.40%	+10.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	6.99%	+9.85%

KOKU vs. HYDW - Expense Ratio Comparison

KOKU has a 0.09% expense ratio, which is lower than HYDW's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

KOKU vs. HYDW - Dividend Comparison

KOKU's dividend yield for the trailing twelve months is around 1.39%, less than HYDW's 5.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HYDW Xtrackers Low Beta High Yield Bond ETF	5.76%	5.75%	5.35%	5.69%	4.78%	3.30%	4.45%	4.56%	4.42%
KOKU Xtrackers MSCI Kokusai Equity ETF	1.39%	1.48%	1.63%	1.76%	1.98%	1.89%	0.55%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KOKU and HYDW in my portfolio?

KOKU and HYDW have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KOKU or HYDW?

KOKU has higher volatility (4.06%) compared to HYDW (0.74%). In terms of maximum drawdown, KOKU dropped -25.77% vs HYDW's -17.75%.

Which ETF is better, KOKU or HYDW?

On 5-year performance, KOKU leads with 11.69% vs 3.52% for HYDW. On fees, KOKU is cheaper at 0.09% per year. On volatility, HYDW has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOKU or HYDW?

Over the 5-year period, KOKU has performed better with a 11.69% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOKU or HYDW?

KOKU is cheaper with a 0.09% expense ratio, compared with 0.20% for HYDW.

Which ETF pays a higher dividend yield, KOKU or HYDW?

HYDW has the higher dividend yield at 5.76%, compared with 1.39% for KOKU.

What is the main difference between KOKU and HYDW?

KOKU is categorized as Large Cap Growth Equities, while HYDW is High Yield Bonds. KOKU tracks MSCI Kokusai Index (World ex Japan), while HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index. Their fees differ too: 0.09% for KOKU and 0.20% for HYDW.

Which has better risk-adjusted returns?

KOKU currently has the higher Sharpe Ratio (1.89 vs 1.82), 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.