SHYL vs. AOA

Last updated Apr 2, 2026

Compare and contrast key facts about Xtrackers Short Duration High Yield Bond ETF (SHYL) and iShares Core Aggressive Allocation ETF (AOA).

SHYL and AOA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SHYL is a passively managed fund by Deutsche Bank that tracks the performance of the Solactive USD High Yield Corporates Total Market 0-5 Year Index. It was launched on Jan 10, 2018. AOA is a passively managed fund by iShares that tracks the performance of the S&P Target Risk Aggressive Index. It was launched on Nov 4, 2008. Both SHYL and AOA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SHYL vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Short Duration High Yield Bond ETF (SHYL) and iShares Core Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

SHYL vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SHYL Xtrackers Short Duration High Yield Bond ETF	0.01%	7.78%	8.52%	11.39%	-5.21%	4.60%	3.64%	10.16%	-0.67%
AOA iShares Core Aggressive Allocation ETF	-0.59%	19.59%	13.55%	18.27%	-16.23%	15.42%	12.82%	22.60%	-9.69%

Returns By Period

In the year-to-date period, SHYL achieves a 0.01% return, which is significantly higher than AOA's -0.59% return.

SHYL

• 1D: 0.23%
• 1M: -0.22%
• YTD: 0.01%
• 6M: 1.24%
• 1Y: 6.73%
• 3Y*: 8.03%
• 5Y*: 4.87%
• 10Y*: —

AOA

• 1D: 0.61%
• 1M: -4.11%
• YTD: -0.59%
• 6M: 1.92%
• 1Y: 18.69%
• 3Y*: 14.47%
• 5Y*: 7.97%
• 10Y*: 9.69%

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

SHYL vs. AOA - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is lower than AOA's 0.25% 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%.

AOA

iShares Core Aggressive Allocation ETF

SHYL

Xtrackers Short Duration High Yield Bond ETF

Return for Risk

SHYL vs. AOA — Risk / Return Rank

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

SHYL

SHYL Risk / Return Rank: 75
SHYL Sharpe Ratio Rank: 69
SHYL Sortino Ratio Rank: 72
SHYL Omega Ratio Rank: 82
SHYL Calmar Ratio Rank: 68
SHYL Martin Ratio Rank: 85

AOA

AOA Risk / Return Rank: 75
AOA Sharpe Ratio Rank: 73
AOA Sortino Ratio Rank: 76
AOA Omega Ratio Rank: 75
AOA Calmar Ratio Rank: 74
AOA Martin Ratio Rank: 79

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.

SHYL vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and iShares Core Aggressive Allocation ETF (AOA). 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.

	SHYL	AOA	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.35	-0.08
Sortino ratio Return per unit of downside risk	1.88	1.97	-0.08
Omega ratio Gain probability vs. loss probability	1.33	1.29	+0.04
Calmar ratio Return relative to maximum drawdown	1.82	1.98	-0.16
Martin ratio Return relative to average drawdown	10.59	8.82	+1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYL vs. AOA - Sharpe Ratio Comparison

The current SHYL Sharpe Ratio is 1.27, which is comparable to the AOA Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of SHYL and AOA, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHYL	AOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.35	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.62	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.65	+0.05

Correlation

The correlation between SHYL and AOA is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SHYL vs. AOA - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 7.03%, more than AOA's 2.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SHYL Xtrackers Short Duration High Yield Bond ETF	7.03%	7.02%	7.26%	6.60%	5.52%	4.65%	6.16%	5.93%	5.54%	0.00%	0.00%	0.00%
AOA iShares Core Aggressive Allocation ETF	2.19%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%

Drawdowns

SHYL vs. AOA - Drawdown Comparison

The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum AOA drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for SHYL and AOA.

Drawdown Indicators

	SHYL	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-28.38%	+9.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.80%	-9.62%	+5.82%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-23.62%	+14.02%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.38%	—
Current Drawdown Current decline from peak	-0.49%	-5.18%	+4.69%
Average Drawdown Average peak-to-trough decline	-1.57%	-4.08%	+2.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	2.16%	-1.50%

Volatility

SHYL vs. AOA - Volatility Comparison

The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 1.86%, while iShares Core Aggressive Allocation ETF (AOA) has a volatility of 5.28%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than AOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYL	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	5.28%	-3.42%
Volatility (6M) Calculated over the trailing 6-month period	2.42%	8.34%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	5.32%	13.87%	-8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.81%	12.92%	-7.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	13.51%	-6.77%