SHYL vs. BND

Last updated Jun 4, 2026

SHYL (Xtrackers Short Duration High Yield Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - SHYL is a High Yield Bonds fund tracking the Solactive USD High Yield Corporates Total Market 0-5 Year Index, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Both are passively managed. Over the past 5 years, SHYL returned 4.87%/yr vs 0.09%/yr for BND. At a 0.33 correlation, their price movements are largely independent. SHYL charges 0.20%/yr vs 0.03%/yr for BND.

Performance

SHYL vs. BND - Performance Comparison

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

Returns By Period

In the year-to-date period, SHYL achieves a 1.15% return, which is significantly higher than BND's 0.27% return.

SHYL

• 1D: -0.20%
• 1M: 0.16%
• YTD: 1.15%
• 6M: 1.57%
• 1Y: 6.04%
• 3Y*: 8.28%
• 5Y*: 4.87%
• 10Y*: —

BND

• 1D: -0.19%
• 1M: 0.27%
• YTD: 0.27%
• 6M: 0.12%
• 1Y: 5.11%
• 3Y*: 3.96%
• 5Y*: 0.09%
• 10Y*: 1.58%

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

SHYL vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SHYL Xtrackers Short Duration High Yield Bond ETF	1.15%	7.78%	8.52%	11.39%	-5.21%	4.60%	3.64%	10.16%	-0.67%
BND Vanguard Total Bond Market ETF	0.27%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	0.54%

Correlation

The correlation between SHYL and BND is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.33

Over the past year, SHYL and BND have become more correlated (0.55) than their long-term average of 0.33, meaning their price movements have been converging.

Return for Risk

SHYL vs. BND — Risk / Return Rank

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

SHYL

SHYL Risk / Return Rank: 66
SHYL Sharpe Ratio Rank: 55
SHYL Sortino Ratio Rank: 61
SHYL Omega Ratio Rank: 62
SHYL Calmar Ratio Rank: 76
SHYL Martin Ratio Rank: 77

BND

BND Risk / Return Rank: 37
BND Sharpe Ratio Rank: 37
BND Sortino Ratio Rank: 39
BND Omega Ratio Rank: 35
BND Calmar Ratio Rank: 38
BND Martin Ratio Rank: 36

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. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Vanguard Total Bond Market ETF (BND). 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	BND	Difference
Sharpe ratio Return per unit of total volatility	1.90	1.36	+0.54
Sortino ratio Return per unit of downside risk	2.89	2.03	+0.85
Omega ratio Gain probability vs. loss probability	1.38	1.24	+0.14
Calmar ratio Return relative to maximum drawdown	3.81	1.92	+1.89
Martin ratio Return relative to average drawdown	15.01	5.80	+9.21
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. BND - Sharpe Ratio Comparison

The current SHYL Sharpe Ratio is 1.90, which is higher than the BND Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of SHYL and BND, 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

	SHYL	BND	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	1.36	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.01	+0.82
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.59	+0.13

Drawdowns

SHYL vs. BND - Drawdown Comparison

The maximum SHYL drawdown since its inception was -19.26%, roughly equal to the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for SHYL and BND.

Drawdown Indicators

	SHYL	BND	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-18.58%	-0.68%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-2.68%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-4.73%	-5.92%	+1.19%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-17.91%	+8.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.58%	—
Current Drawdown Current decline from peak	-0.23%	-2.37%	+2.14%
Average Drawdown Average peak-to-trough decline	-1.54%	-3.06%	+1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.88%	-0.48%

Volatility

SHYL vs. BND - Volatility Comparison

The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.85%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.23%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYL	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.85%	1.23%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	2.45%	2.66%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	3.78%	-0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	6.02%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	5.53%	+1.16%

SHYL vs. BND - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is higher than BND's 0.03% 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

SHYL vs. BND - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 6.94%, more than BND's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.97%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
SHYL Xtrackers Short Duration High Yield Bond ETF	6.94%	7.02%	7.26%	6.60%	5.52%	4.65%	6.16%	5.93%	5.54%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SHYL and BND in my portfolio?

SHYL and BND have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHYL or BND?

BND has higher volatility (1.23%) compared to SHYL (0.85%). In terms of maximum drawdown, SHYL dropped -19.26% vs BND's -18.58%.

Which ETF is better, SHYL or BND?

On 5-year performance, SHYL leads with 4.87% vs 0.09% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, SHYL has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHYL or BND?

Over the 5-year period, SHYL has performed better with a 4.87% return vs 0.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHYL or BND?

BND is cheaper with a 0.03% expense ratio, compared with 0.20% for SHYL.

Which ETF pays a higher dividend yield, SHYL or BND?

SHYL has the higher dividend yield at 6.94%, compared with 3.97% for BND.

What is the main difference between SHYL and BND?

SHYL is categorized as High Yield Bonds, while BND is Total Bond Market. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while BND tracks Bloomberg U.S. Aggregate Float Adjusted Index. They also come from different issuers: Deutsche Bank and Vanguard. Their fees differ too: 0.20% for SHYL and 0.03% for BND.

Which has better risk-adjusted returns?

SHYL currently has the higher Sharpe Ratio (1.90 vs 1.36), 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.