SHYL vs. FLHY

Last updated Jun 25, 2026

SHYL (Xtrackers Short Duration High Yield Bond ETF) and FLHY (Franklin Liberty High Yield Corporate ETF) are both High Yield Bonds funds. SHYL is passively managed, while FLHY is actively managed. Over the past 5 years, SHYL returned 4.82%/yr vs 4.57%/yr for FLHY. Their correlation of 0.84 suggests significant overlap in exposure. SHYL charges 0.20%/yr vs 0.40%/yr for FLHY.

Performance

SHYL vs. FLHY - Performance Comparison

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

Returns By Period

In the year-to-date period, SHYL achieves a 1.35% return, which is significantly lower than FLHY's 1.94% return.

SHYL

• 1D: -0.01%
• 1M: 0.36%
• YTD: 1.35%
• 6M: 1.42%
• 1Y: 5.22%
• 3Y*: 8.43%
• 5Y*: 4.82%
• 10Y*: —

FLHY

• 1D: -0.02%
• 1M: 0.42%
• YTD: 1.94%
• 6M: 2.00%
• 1Y: 6.80%
• 3Y*: 9.52%
• 5Y*: 4.57%
• 10Y*: —

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

SHYL vs. FLHY - 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%	-1.36%
FLHY Franklin Liberty High Yield Corporate ETF	1.94%	9.26%	8.70%	13.40%	-10.45%	4.27%	7.77%	16.39%	-1.59%

Correlation

The correlation between SHYL and FLHY is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 1, 2018	0.84

The correlation between SHYL and FLHY has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

SHYL vs. FLHY — Risk / Return Rank

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

SHYL

SHYL Risk / Return Rank: 64
SHYL Sharpe Ratio Rank: 54
SHYL Sortino Ratio Rank: 59
SHYL Omega Ratio Rank: 59
SHYL Calmar Ratio Rank: 73
SHYL Martin Ratio Rank: 76

FLHY

FLHY Risk / Return Rank: 67
FLHY Sharpe Ratio Rank: 60
FLHY Sortino Ratio Rank: 68
FLHY Omega Ratio Rank: 65
FLHY Calmar Ratio Rank: 64
FLHY Martin Ratio Rank: 77

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. FLHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Franklin Liberty High Yield Corporate ETF (FLHY). 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	FLHY	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.78	-0.14
Sortino ratio: Return per unit of downside risk	2.49	2.72	-0.24
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.29	2.81	+0.48
Martin ratio: Return relative to average drawdown	12.88	13.14	-0.26

SHYL vs. FLHY - Sharpe Ratio Comparison

The current SHYL Sharpe Ratio is 1.63, which is comparable to the FLHY Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of SHYL and FLHY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHYL vs. FLHY - Drawdown Comparison

The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum FLHY drawdown of -22.58%. Use the drawdown chart below to compare losses from any high point for SHYL and FLHY.

Drawdown Indicators

	SHYL	FLHY	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-22.58%	+3.32%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-2.43%	+0.84%
Max Drawdown (3Y) Largest decline over 3 years	-4.73%	-4.49%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-15.19%	+5.59%
Current Drawdown Current decline from peak	-0.19%	-0.21%	+0.02%
Average Drawdown Average peak-to-trough decline	-1.53%	-2.53%	+1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.41%	0.52%	-0.11%

Volatility

SHYL vs. FLHY - Volatility Comparison

The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.74%, while Franklin Liberty High Yield Corporate ETF (FLHY) has a volatility of 0.97%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than FLHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYL	FLHY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.97%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.50%	3.04%	-0.54%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	3.85%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.85%	6.95%	-1.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	8.09%	-1.42%

SHYL vs. FLHY - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is lower than FLHY's 0.40% expense ratio.

Dividends

SHYL vs. FLHY - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 6.92%, more than FLHY's 6.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLHY Franklin Liberty High Yield Corporate ETF	6.46%	6.53%	6.51%	6.26%	6.54%	5.76%	5.47%	5.61%	4.27%
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

Can I hold both SHYL and FLHY in my portfolio?

SHYL and FLHY have a correlation of 0.88, 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 FLHY?

FLHY has higher volatility (0.97%) compared to SHYL (0.74%). In terms of maximum drawdown, SHYL dropped -19.26% vs FLHY's -22.58%.

Which ETF is better, SHYL or FLHY?

On 5-year performance, SHYL leads with 4.82% vs 4.57% for FLHY. 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.

Which ETF has performed better, SHYL or FLHY?

Over the 5-year period, SHYL has performed better with a 4.82% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHYL or FLHY?

SHYL is cheaper with a 0.20% expense ratio, compared with 0.40% for FLHY.

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

SHYL has the higher dividend yield at 6.92%, compared with 6.46% for FLHY.

What is the main difference between SHYL and FLHY?

They also come from different issuers: Deutsche Bank and Franklin Templeton. Their fees differ too: 0.20% for SHYL and 0.40% for FLHY.

Which has better risk-adjusted returns?

FLHY currently has the higher Sharpe Ratio (1.78 vs 1.63), 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.