SHYL vs. HWHIX

Last updated Jun 6, 2026

SHYL (Xtrackers Short Duration High Yield Bond ETF) and HWHIX (Hotchkis & Wiley High Yield Fund) are both High Yield Bonds funds. Over the past 5 years, SHYL returned 4.85%/yr vs 3.49%/yr for HWHIX. A 0.62 correlation means they provide meaningful diversification when combined. SHYL charges 0.20%/yr vs 0.70%/yr for HWHIX.

Performance

SHYL vs. HWHIX - Performance Comparison

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

Returns By Period

In the year-to-date period, SHYL achieves a 1.05% return, which is significantly lower than HWHIX's 1.11% return.

SHYL

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

HWHIX

• 1D: 0.10%
• 1M: 0.07%
• YTD: 1.11%
• 6M: 1.67%
• 1Y: 5.61%
• 3Y*: 7.56%
• 5Y*: 3.49%
• 10Y*: 4.23%

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

SHYL vs. HWHIX - 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%
HWHIX Hotchkis & Wiley High Yield Fund	1.11%	7.28%	7.23%	12.00%	-11.08%	6.25%	3.85%	9.61%	-3.77%

Correlation

The correlation between SHYL and HWHIX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jan 11, 2018	0.62

The correlation between SHYL and HWHIX has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

Return for Risk

SHYL vs. HWHIX — 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

HWHIX

HWHIX Risk / Return Rank: 41
HWHIX Sharpe Ratio Rank: 35
HWHIX Sortino Ratio Rank: 46
HWHIX Omega Ratio Rank: 43
HWHIX Calmar Ratio Rank: 35
HWHIX Martin Ratio Rank: 46

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. HWHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Hotchkis & Wiley High Yield Fund (HWHIX). 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	HWHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.64	+0.24
Sortino ratio: Return per unit of downside risk	2.86	2.74	+0.12
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	3.78	2.14	+1.64
Martin ratio: Return relative to average drawdown	14.88	9.37	+5.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHYL vs. HWHIX - Sharpe Ratio Comparison

The current SHYL Sharpe Ratio is 1.88, which is comparable to the HWHIX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of SHYL and HWHIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SHYL	HWHIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.64	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.75	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.83	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.79	-0.07

Drawdowns

SHYL vs. HWHIX - Drawdown Comparison

The maximum SHYL drawdown since its inception was -19.26%, smaller than the maximum HWHIX drawdown of -23.03%. Use the drawdown chart below to compare losses from any high point for SHYL and HWHIX.

Drawdown Indicators

	SHYL	HWHIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-23.03%	+3.77%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-2.64%	+1.05%
Max Drawdown (3Y) Largest decline over 3 years	-4.73%	-4.08%	-0.65%
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	-15.02%	+5.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.03%	—
Current Drawdown Current decline from peak	-0.33%	-0.19%	-0.14%
Average Drawdown Average peak-to-trough decline	-1.54%	-3.81%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.60%	-0.20%

Volatility

SHYL vs. HWHIX - Volatility Comparison

The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.86%, while Hotchkis & Wiley High Yield Fund (HWHIX) has a volatility of 1.16%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than HWHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYL	HWHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	1.16%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	2.66%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	3.43%	-0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	4.70%	+1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	5.11%	+1.58%

SHYL vs. HWHIX - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is lower than HWHIX's 0.70% expense ratio.

Dividends

SHYL vs. HWHIX - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 6.94%, more than HWHIX's 6.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWHIX Hotchkis & Wiley High Yield Fund	6.37%	6.24%	6.27%	4.77%	4.03%	4.02%	5.47%	5.92%	6.24%	4.42%	0.00%	0.86%
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 HWHIX in my portfolio?

SHYL and HWHIX have a correlation of 0.69, 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 HWHIX?

HWHIX has higher volatility (1.16%) compared to SHYL (0.86%). In terms of maximum drawdown, SHYL dropped -19.26% vs HWHIX's -23.03%.

Which has better risk-adjusted returns?

SHYL currently has the higher Sharpe Ratio (1.88 vs 1.64), 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.