SHYL vs. DZZ
SHYL (Xtrackers Short Duration High Yield Bond ETF) and DZZ (DB Gold Double 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 DZZ is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%). Both are passively managed. Over the past 5 years, SHYL returned 4.82%/yr vs -8.30%/yr for DZZ. At a correlation of -0.13, they often move in opposite directions. SHYL charges 0.20%/yr vs 0.75%/yr for DZZ.
Performance
SHYL vs. DZZ - Performance Comparison
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Returns By Period
In the year-to-date period, SHYL achieves a 1.35% return, which is significantly higher than DZZ's -51.95% return.
SHYL
- 1D
- -0.01%
- 1M
- 0.36%
- YTD
- 1.35%
- 6M
- 1.42%
- 1Y
- 5.22%
- 3Y*
- 8.43%
- 5Y*
- 4.82%
- 10Y*
- —
DZZ
- 1D
- 1.10%
- 1M
- -11.72%
- YTD
- -51.95%
- 6M
- -48.17%
- 1Y
- -1.60%
- 3Y*
- -10.11%
- 5Y*
- -8.30%
- 10Y*
- -9.91%
SHYL vs. DZZ - 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% |
DZZ DB Gold Double Short Exchange Traded Notes | -51.95% | 132.78% | -35.06% | -8.14% | 2.79% | 0.56% | -37.13% | -26.64% | 9.54% |
Correlation
The correlation between SHYL and DZZ is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | -0.13 |
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Return for Risk
SHYL vs. DZZ — Risk / Return Rank
SHYL
DZZ
SHYL vs. DZZ - 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 Double Short Exchange Traded Notes (DZZ). 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 | DZZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.20 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.29 | -0.02 | +3.31 |
| Martin ratioReturn relative to average drawdown | 12.88 | -0.03 | +12.91 |
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Drawdowns
SHYL vs. DZZ - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum DZZ drawdown of -96.64%. Use the drawdown chart below to compare losses from any high point for SHYL and DZZ.
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Drawdown Indicators
| SHYL | DZZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -96.64% | +77.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -81.05% | +79.46% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -81.05% | +76.32% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -81.05% | +71.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -81.05% | — |
Current DrawdownCurrent decline from peak | -0.19% | -95.51% | +95.32% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -82.33% | +80.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 56.45% | -56.04% |
Volatility
SHYL vs. DZZ - Volatility Comparison
The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.74%, while DB Gold Double Short Exchange Traded Notes (DZZ) has a volatility of 15.06%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than DZZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYL | DZZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.74% | 15.06% | -14.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 60.08% | -57.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 169.82% | -166.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.85% | 83.80% | -77.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.67% | 64.05% | -57.38% |
SHYL vs. DZZ - Expense Ratio Comparison
SHYL has a 0.20% expense ratio, which is lower than DZZ's 0.75% expense ratio.
Dividends
SHYL vs. DZZ - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.92%, while DZZ has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DZZ DB Gold Double 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 DZZ have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DZZ has higher volatility (15.06%) compared to SHYL (0.74%). In terms of maximum drawdown, SHYL dropped -19.26% vs DZZ's -96.64%.
On 5-year performance, SHYL leads with 4.82% vs -8.30% for DZZ. 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 -8.30%. 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 DZZ.
SHYL has the higher dividend yield at 6.92%, compared with 0.00% for DZZ.
SHYL is categorized as High Yield Bonds, while DZZ is Leveraged Commodities. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while DZZ tracks Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (-200%). Their fees differ too: 0.20% for SHYL and 0.75% for DZZ.
SHYL currently has the higher Sharpe Ratio (1.63 vs -0.01), 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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