SHYL vs. DGZ
SHYL (Xtrackers Short Duration High Yield Bond ETF) and DGZ (DB Gold Short Exchange Traded Notes) 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 DGZ is a Inverse Commodities fund tracking the Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Both are passively managed. Over the past 5 years, SHYL returned 4.82%/yr vs -9.99%/yr for DGZ. At a correlation of -0.09, they often move in opposite directions. SHYL charges 0.20%/yr vs 0.75%/yr for DGZ.
Performance
SHYL vs. DGZ - Performance Comparison
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Returns By Period
In the year-to-date period, SHYL achieves a 1.35% return, which is significantly lower than DGZ's 9.14% return.
SHYL
- 1D
- -0.01%
- 1M
- 0.36%
- YTD
- 1.35%
- 6M
- 1.42%
- 1Y
- 5.22%
- 3Y*
- 8.43%
- 5Y*
- 4.82%
- 10Y*
- —
DGZ
- 1D
- -4.08%
- 1M
- 22.69%
- YTD
- 9.14%
- 6M
- 15.72%
- 1Y
- -10.15%
- 3Y*
- -15.43%
- 5Y*
- -9.99%
- 10Y*
- -7.50%
SHYL vs. DGZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHYL Xtrackers Short Duration High Yield Bond ETF | 1.35% | 7.78% | 8.52% | 11.39% | -5.21% | 4.60% | 3.64% | 10.16% | -0.67% |
DGZ DB Gold Short Exchange Traded Notes | 9.14% | -32.55% | -16.46% | -4.75% | 4.93% | 1.53% | -20.80% | -13.42% | 5.74% |
Correlation
The correlation between SHYL and DGZ is -0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | -0.09 |
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Return for Risk
SHYL vs. DGZ — Risk / Return Rank
SHYL
DGZ
SHYL vs. DGZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and DB Gold Short Exchange Traded Notes (DGZ). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHYL | DGZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.04 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | -0.27 | +3.55 |
| Martin ratioReturn relative to average drawdown | 12.88 | -0.46 | +13.34 |
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Drawdowns
SHYL vs. DGZ - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum DGZ drawdown of -86.32%. Use the drawdown chart below to compare losses from any high point for SHYL and DGZ.
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Drawdown Indicators
| SHYL | DGZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -86.32% | +67.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -38.32% | +36.73% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -59.54% | +54.81% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -61.54% | +51.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.49% | — |
Current DrawdownCurrent decline from peak | -0.19% | -81.30% | +81.11% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -57.80% | +56.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 22.26% | -21.85% |
Volatility
SHYL vs. DGZ - Volatility Comparison
The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.74%, while DB Gold Short Exchange Traded Notes (DGZ) has a volatility of 44.67%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than DGZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYL | DGZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 44.67% | -43.93% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 58.82% | -56.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 69.74% | -66.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 36.54% | -30.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 28.20% | -21.53% |
SHYL vs. DGZ - Expense Ratio Comparison
SHYL has a 0.20% expense ratio, which is lower than DGZ's 0.75% expense ratio.
Dividends
SHYL vs. DGZ - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.92%, while DGZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DGZ DB Gold Short Exchange Traded Notes | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 6.92% | 7.02% | 7.26% | 6.60% | 5.52% | 4.65% | 6.16% | 5.93% | 5.54% |
Frequently Asked Questions
SHYL and DGZ have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DGZ has higher volatility (44.67%) compared to SHYL (0.74%). In terms of maximum drawdown, SHYL dropped -19.26% vs DGZ's -86.32%.
On 5-year performance, SHYL leads with 4.82% vs -9.99% for DGZ. On fees, SHYL is cheaper at 0.20% per year. On volatility, SHYL has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SHYL has performed better with a 4.82% return vs -9.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL is cheaper with a 0.20% expense ratio, compared with 0.75% for DGZ.
SHYL has the higher dividend yield at 6.92%, compared with 0.00% for DGZ.
SHYL is categorized as High Yield Bonds, while DGZ is Inverse Commodities. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while DGZ tracks Deutsche Bank Liquid Commodity Index - Optimum Yield Gold Excess Return (-100%). Their fees differ too: 0.20% for SHYL and 0.75% for DGZ.
SHYL currently has the higher Sharpe Ratio (1.63 vs -0.15), 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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