SHYL vs. CN

Last updated Jun 6, 2026

SHYL (Xtrackers Short Duration High Yield Bond ETF) and CN (Xtrackers MSCI All China Equity 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 CN is a China Equities fund tracking the MSCI China All Shares. Both are passively managed. At a 0.38 correlation, their price movements are largely independent. SHYL charges 0.20%/yr vs 0.50%/yr for CN.

Performance

SHYL vs. CN - Performance Comparison

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

Returns By Period

SHYL

• 1D: -0.25%
• 1M: -0.29%
• YTD: 1.05%
• 6M: 1.43%
• 1Y: 5.99%
• 3Y*: 8.22%
• 5Y*: 4.85%
• 10Y*: —

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHYL vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SHYL Xtrackers Short Duration High Yield Bond ETF	1.05%	7.78%	8.52%	11.39%	-5.21%	4.60%	3.64%	10.16%	-0.67%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-26.25%

Correlation

The correlation between SHYL and CN is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.38

The correlation between SHYL and CN shifts across timeframes, from 0.17 (3 years) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SHYL vs. CN — Risk / Return Rank

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

SHYL

SHYL Risk / Return Rank: 69
SHYL Sharpe Ratio Rank: 58
SHYL Sortino Ratio Rank: 65
SHYL Omega Ratio Rank: 66
SHYL Calmar Ratio Rank: 77
SHYL 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. CN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Xtrackers MSCI All China Equity ETF (CN). 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	CN	Difference
Sharpe ratio: Return per unit of total volatility	1.88	—	—
Sortino ratio: Return per unit of downside risk	2.86	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.78	—	—
Martin ratio: Return relative to average drawdown	14.88	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SHYL	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	—	—

Drawdowns

Drawdown Indicators

	SHYL	CN	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	—	—
Current Drawdown Current decline from peak	-0.33%	—	—
Average Drawdown Average peak-to-trough decline	-1.54%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	—	—

Volatility

Volatility by Period

	SHYL	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	—	—

SHYL vs. CN - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is lower than CN's 0.50% expense ratio.

Dividends

SHYL vs. CN - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 6.94%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
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 CN in my portfolio?

SHYL and CN have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SHYL or CN?

On fees, SHYL is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SHYL or CN?

SHYL is cheaper with a 0.20% expense ratio, compared with 0.50% for CN.

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

SHYL has the higher dividend yield at 6.94%, compared with 0.00% for CN.

What is the main difference between SHYL and CN?

SHYL is categorized as High Yield Bonds, while CN is China Equities. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while CN tracks MSCI China All Shares. Their fees differ too: 0.20% for SHYL and 0.50% for CN.