SHYL vs. HYDW
SHYL (Xtrackers Short Duration High Yield Bond ETF) and HYDW (Xtrackers Low Beta High Yield Bond ETF) are both High Yield Bonds funds from Deutsche Bank - SHYL tracks the Solactive USD High Yield Corporates Total Market 0-5 Year Index while HYDW tracks the Solactive USD High Yield Corporates Total Market Low Beta Index. Both are passively managed. Over the past 5 years, SHYL returned 4.85%/yr vs 3.52%/yr for HYDW. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.
Performance
SHYL vs. HYDW - Performance Comparison
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Returns By Period
In the year-to-date period, SHYL achieves a 1.05% return, which is significantly higher than HYDW's 0.77% return.
SHYL
- 1D
- -0.25%
- 1M
- -0.29%
- YTD
- 1.05%
- 6M
- 1.43%
- 1Y
- 5.99%
- 3Y*
- 8.22%
- 5Y*
- 4.85%
- 10Y*
- —
HYDW
- 1D
- -0.27%
- 1M
- -0.26%
- YTD
- 0.77%
- 6M
- 1.20%
- 1Y
- 5.37%
- 3Y*
- 6.83%
- 5Y*
- 3.52%
- 10Y*
- —
SHYL vs. HYDW - 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% | -0.84% |
HYDW Xtrackers Low Beta High Yield Bond ETF | 0.77% | 8.47% | 5.42% | 9.84% | -7.86% | 2.77% | 5.51% | 11.44% | -1.08% |
Correlation
The correlation between SHYL and HYDW is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2018 | 0.86 |
The correlation between SHYL and HYDW has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.
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Return for Risk
SHYL vs. HYDW — Risk / Return Rank
SHYL
HYDW
SHYL vs. HYDW - 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 Low Beta High Yield Bond ETF (HYDW). 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 | HYDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.58 | +1.20 |
| Martin ratioReturn relative to average drawdown | 14.88 | 12.28 | +2.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHYL | HYDW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.82 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.83 | 0.55 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.58 | +0.14 |
Drawdowns
SHYL vs. HYDW - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, which is greater than HYDW's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for SHYL and HYDW.
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Drawdown Indicators
| SHYL | HYDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -17.75% | -1.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -2.09% | +0.50% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -3.64% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -12.68% | +3.08% |
Current DrawdownCurrent decline from peak | -0.33% | -0.37% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -1.54% | -1.89% | +0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.40% | 0.44% | -0.04% |
Volatility
SHYL vs. HYDW - Volatility Comparison
Xtrackers Short Duration High Yield Bond ETF (SHYL) has a higher volatility of 0.86% compared to Xtrackers Low Beta High Yield Bond ETF (HYDW) at 0.74%. This indicates that SHYL's price experiences larger fluctuations and is considered to be riskier than HYDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYL | HYDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.86% | 0.74% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 2.28% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.21% | 2.96% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 6.40% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.69% | 6.99% | -0.30% |
SHYL vs. HYDW - Expense Ratio Comparison
Both SHYL and HYDW 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. HYDW - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.94%, more than HYDW's 5.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HYDW Xtrackers Low Beta High Yield Bond ETF | 5.76% | 5.75% | 5.35% | 5.69% | 4.78% | 3.30% | 4.45% | 4.56% | 4.42% |
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% |
Frequently Asked Questions
SHYL and HYDW have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHYL has higher volatility (0.86%) compared to HYDW (0.74%). In terms of maximum drawdown, SHYL dropped -19.26% vs HYDW's -17.75%.
On 5-year performance, SHYL leads with 4.85% vs 3.52% for HYDW. Both ETFs have the same 0.20% expense ratio. On volatility, HYDW 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 4.85% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL and HYDW have the same expense ratio: 0.20% per year.
SHYL has the higher dividend yield at 6.94%, compared with 5.76% for HYDW.
SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while HYDW tracks Solactive USD High Yield Corporates Total Market Low Beta Index.
SHYL currently has the higher Sharpe Ratio (1.88 vs 1.82), 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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