SHYL vs. HDEF
SHYL (Xtrackers Short Duration High Yield Bond ETF) and HDEF (Xtrackers MSCI EAFE High Dividend Yield 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 HDEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE High Dividend Yield US Dollar Hedged Index. Both are passively managed. Over the past 5 years, SHYL returned 4.85%/yr vs 9.89%/yr for HDEF. A 0.58 correlation means they provide meaningful diversification when combined. Both charge a 0.20% expense ratio.
Performance
SHYL vs. HDEF - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SHYL achieves a 1.05% return, which is significantly lower than HDEF's 4.28% return.
SHYL
- 1D
- -0.25%
- 1M
- -0.29%
- YTD
- 1.05%
- 6M
- 1.43%
- 1Y
- 5.99%
- 3Y*
- 8.22%
- 5Y*
- 4.85%
- 10Y*
- —
HDEF
- 1D
- -0.56%
- 1M
- -3.20%
- YTD
- 4.28%
- 6M
- 6.79%
- 1Y
- 15.66%
- 3Y*
- 16.37%
- 5Y*
- 9.89%
- 10Y*
- 8.53%
SHYL vs. HDEF - 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% |
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 4.28% | 33.01% | 2.85% | 18.53% | -2.51% | 6.95% | -1.90% | 25.02% | -15.62% |
Correlation
The correlation between SHYL and HDEF is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018 | 0.58 |
The correlation between SHYL and HDEF has been stable across timeframes, ranging from 0.51 to 0.58 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SHYL vs. HDEF — Risk / Return Rank
SHYL
HDEF
SHYL vs. HDEF - 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 EAFE High Dividend Yield Equity ETF (HDEF). 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 | HDEF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.25 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 1.96 | +1.82 |
| Martin ratioReturn relative to average drawdown | 14.88 | 5.97 | +8.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SHYL | HDEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.35 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.70 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.45 | +0.27 |
Drawdowns
SHYL vs. HDEF - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum HDEF drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for SHYL and HDEF.
Loading charts...
Drawdown Indicators
| SHYL | HDEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -36.43% | +17.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -8.03% | +6.44% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -11.15% | +6.42% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -23.63% | +14.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.43% | — |
Current DrawdownCurrent decline from peak | -0.33% | -5.42% | +5.09% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -5.04% | +3.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 2.63% | -2.23% |
Volatility
SHYL vs. HDEF - Volatility Comparison
The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.86%, while Xtrackers MSCI EAFE High Dividend Yield Equity ETF (HDEF) has a volatility of 3.50%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than HDEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SHYL | HDEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 3.50% | -2.64% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 9.24% | -6.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 11.69% | -8.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 14.14% | -8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 16.24% | -9.55% |
SHYL vs. HDEF - Expense Ratio Comparison
Both SHYL and HDEF have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SHYL vs. HDEF - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.94%, more than HDEF's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDEF Xtrackers MSCI EAFE High Dividend Yield Equity ETF | 3.64% | 3.88% | 4.53% | 4.38% | 5.41% | 4.76% | 3.93% | 4.20% | 3.55% | 3.38% | 9.53% | 1.87% |
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
SHYL and HDEF have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HDEF has higher volatility (3.50%) compared to SHYL (0.86%). In terms of maximum drawdown, SHYL dropped -19.26% vs HDEF's -36.43%.
On 5-year performance, HDEF leads with 9.89% vs 4.85% for SHYL. Both ETFs have the same 0.20% expense ratio. On volatility, SHYL has been the lower-risk option at 0.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HDEF has performed better with a 9.89% return vs 4.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL and HDEF have the same expense ratio: 0.20% per year.
SHYL has the higher dividend yield at 6.94%, compared with 3.64% for HDEF.
SHYL is categorized as High Yield Bonds, while HDEF is Foreign Large Cap Equities. SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while HDEF tracks MSCI EAFE High Dividend Yield US Dollar Hedged Index.
SHYL currently has the higher Sharpe Ratio (1.88 vs 1.35), 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.
Find the right allocation for SHYL and HDEF
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer