QHY vs. HYLB
QHY (WisdomTree U.S. Short-Term Corporate Bond Fund) and HYLB (Xtrackers USD High Yield Corporate Bond ETF) are both High Yield Bonds funds - QHY tracks the WisdomTree U.S. High Yield Corporate Bond Index while HYLB tracks the Solactive USD High Yield Corporates Total Market Index. Both are passively managed. Over the past 5 years, QHY returned 3.22%/yr vs 4.06%/yr for HYLB. Their correlation of 0.84 suggests significant overlap in exposure. QHY charges 0.38%/yr vs 0.15%/yr for HYLB.
Performance
QHY vs. HYLB - Performance Comparison
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Returns By Period
In the year-to-date period, QHY achieves a 1.51% return, which is significantly lower than HYLB's 1.65% return.
QHY
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 1.51%
- 6M
- 1.74%
- 1Y
- 7.04%
- 3Y*
- 8.17%
- 5Y*
- 3.22%
- 10Y*
- 4.96%
HYLB
- 1D
- 0.11%
- 1M
- 0.35%
- YTD
- 1.65%
- 6M
- 2.09%
- 1Y
- 6.78%
- 3Y*
- 8.79%
- 5Y*
- 4.06%
- 10Y*
- —
QHY vs. HYLB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
QHY WisdomTree U.S. Short-Term Corporate Bond Fund | 1.51% | 9.61% | 5.92% | 10.12% | -11.81% | 4.12% | 5.99% | 15.65% | -0.06% | 5.66% |
HYLB Xtrackers USD High Yield Corporate Bond ETF | 1.65% | 8.74% | 8.14% | 12.03% | -10.80% | 3.94% | 5.04% | 14.06% | -1.80% | 6.00% |
Correlation
The correlation between QHY and HYLB is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.84 |
The correlation between QHY and HYLB shifts across timeframes, from 0.84 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
QHY vs. HYLB — Risk / Return Rank
QHY
HYLB
QHY vs. HYLB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Short-Term Corporate Bond Fund (QHY) 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.
| QHY | HYLB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 3.00 | -0.44 |
| Martin ratioReturn relative to average drawdown | 11.61 | 12.90 | -1.29 |
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
| QHY | HYLB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 1.84 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.55 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.58 | +0.03 |
Drawdowns
QHY vs. HYLB - Drawdown Comparison
The maximum QHY drawdown since its inception was -22.74%, roughly equal to the maximum HYLB drawdown of -22.91%. Use the drawdown chart below to compare losses from any high point for QHY and HYLB.
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Drawdown Indicators
| QHY | HYLB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.74% | -22.91% | +0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -2.77% | -2.27% | -0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -4.58% | -4.51% | -0.07% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -15.54% | -0.67% |
Max Drawdown (10Y)Largest decline over 10 years | -22.74% | — | — |
Current DrawdownCurrent decline from peak | -0.03% | -0.09% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -2.75% | -2.43% | -0.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.53% | +0.08% |
Volatility
QHY vs. HYLB - Volatility Comparison
The current volatility for WisdomTree U.S. Short-Term Corporate Bond Fund (QHY) is 1.07%, while Xtrackers USD High Yield Corporate Bond ETF (HYLB) has a volatility of 1.19%. This indicates that QHY 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
| QHY | HYLB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.19% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 2.92% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.64% | 3.70% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.57% | 7.47% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 8.18% | +0.02% |
QHY vs. HYLB - Expense Ratio Comparison
QHY has a 0.38% expense ratio, which is higher than HYLB's 0.15% expense ratio.
Dividends
QHY vs. HYLB - Dividend Comparison
QHY's dividend yield for the trailing twelve months is around 6.25%, less than HYLB's 6.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
QHY WisdomTree U.S. Short-Term Corporate Bond Fund | 6.25% | 6.26% | 6.40% | 6.11% | 5.44% | 4.09% | 4.80% | 5.21% | 5.93% | 6.47% | 4.39% |
Frequently Asked Questions
QHY and HYLB have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYLB has higher volatility (1.19%) compared to QHY (1.07%). In terms of maximum drawdown, QHY dropped -22.74% vs HYLB's -22.91%.
On 5-year performance, HYLB leads with 4.06% vs 3.22% for QHY. On fees, HYLB is cheaper at 0.15% per year. On volatility, QHY has been the lower-risk option at 1.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYLB has performed better with a 4.06% return vs 3.22%. 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 0.38% for QHY.
HYLB has the higher dividend yield at 6.48%, compared with 6.25% for QHY.
QHY tracks WisdomTree U.S. High Yield Corporate Bond Index, while HYLB tracks Solactive USD High Yield Corporates Total Market Index. They also come from different issuers: WisdomTree and DWS. Their fees differ too: 0.38% for QHY and 0.15% for HYLB.
QHY currently has the higher Sharpe Ratio (1.95 vs 1.84), 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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