SHYL vs. SCYB

Last updated Jun 6, 2026

SHYL (Xtrackers Short Duration High Yield Bond ETF) and SCYB (Schwab High Yield Bond ETF) are both High Yield Bonds funds - SHYL tracks the Solactive USD High Yield Corporates Total Market 0-5 Year Index while SCYB tracks the ICE BofA US Cash Pay High Yield Constrained Index. Both are passively managed. Over the past year, SHYL returned 5.99% vs 6.85% for SCYB. Their correlation of 0.90 suggests significant overlap in exposure. SHYL charges 0.20%/yr vs 0.03%/yr for SCYB.

Performance

SHYL vs. SCYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Short Duration High Yield Bond ETF (SHYL) and Schwab High Yield Bond ETF (SCYB). 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 SCYB's 1.33% return.

SHYL

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

SCYB

• 1D: -0.42%
• 1M: -0.31%
• YTD: 1.33%
• 6M: 1.60%
• 1Y: 6.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SHYL vs. SCYB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHYL Xtrackers Short Duration High Yield Bond ETF	1.05%	7.78%	8.52%	6.55%
SCYB Schwab High Yield Bond ETF	1.33%	8.33%	8.15%	6.74%

Correlation

The correlation between SHYL and SCYB is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023	0.90

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

Return for Risk

SHYL vs. SCYB — 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

SCYB

SCYB Risk / Return Rank: 60
SCYB Sharpe Ratio Rank: 55
SCYB Sortino Ratio Rank: 59
SCYB Omega Ratio Rank: 60
SCYB Calmar Ratio Rank: 58
SCYB Martin Ratio Rank: 69

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. SCYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and Schwab High Yield Bond ETF (SCYB). 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	SCYB	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.83	+0.05
Sortino ratio: Return per unit of downside risk	2.86	2.73	+0.13
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio: Return relative to maximum drawdown	3.78	2.82	+0.96
Martin ratio: Return relative to average drawdown	14.88	12.59	+2.30
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. SCYB - Sharpe Ratio Comparison

The current SHYL Sharpe Ratio is 1.88, which is comparable to the SCYB Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of SHYL and SCYB, 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	SCYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.83	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	1.66	-0.95

Drawdowns

SHYL vs. SCYB - Drawdown Comparison

The maximum SHYL drawdown since its inception was -19.26%, which is greater than SCYB's maximum drawdown of -4.92%. Use the drawdown chart below to compare losses from any high point for SHYL and SCYB.

Drawdown Indicators

	SHYL	SCYB	Difference
Max Drawdown Largest peak-to-trough decline	-19.26%	-4.92%	-14.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.59%	-2.44%	+0.85%
Max Drawdown (3Y) Largest decline over 3 years	-4.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.60%	—	—
Current Drawdown Current decline from peak	-0.33%	-0.54%	+0.21%
Average Drawdown Average peak-to-trough decline	-1.54%	-0.52%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.55%	-0.15%

Volatility

SHYL vs. SCYB - Volatility Comparison

The current volatility for Xtrackers Short Duration High Yield Bond ETF (SHYL) is 0.86%, while Schwab High Yield Bond ETF (SCYB) has a volatility of 1.12%. This indicates that SHYL experiences smaller price fluctuations and is considered to be less risky than SCYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHYL	SCYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.86%	1.12%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.46%	2.97%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	3.21%	3.77%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	5.13%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.69%	5.13%	+1.56%

SHYL vs. SCYB - Expense Ratio Comparison

SHYL has a 0.20% expense ratio, which is higher than SCYB's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SHYL vs. SCYB - Dividend Comparison

SHYL's dividend yield for the trailing twelve months is around 6.94%, which matches SCYB's 6.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SCYB Schwab High Yield Bond ETF	6.95%	6.99%	7.06%	3.36%	0.00%	0.00%	0.00%	0.00%	0.00%
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

Can I hold both SHYL and SCYB in my portfolio?

SHYL and SCYB have a correlation of 0.90, 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 SCYB?

SCYB has higher volatility (1.12%) compared to SHYL (0.86%). In terms of maximum drawdown, SHYL dropped -19.26% vs SCYB's -4.92%.

Which ETF is better, SHYL or SCYB?

On 1-year performance, SCYB leads with 6.85% vs 5.99% for SHYL. On fees, SCYB is cheaper at 0.03% per year. 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.

Which ETF has performed better, SHYL or SCYB?

Over the 1-year period, SCYB has performed better with a 6.85% return vs 5.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHYL or SCYB?

SCYB is cheaper with a 0.03% expense ratio, compared with 0.20% for SHYL.

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

SCYB has the higher dividend yield at 6.95%, compared with 6.94% for SHYL.

What is the main difference between SHYL and SCYB?

SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while SCYB tracks ICE BofA US Cash Pay High Yield Constrained Index. They also come from different issuers: Deutsche Bank and Charles Schwab. Their fees differ too: 0.20% for SHYL and 0.03% for SCYB.

Which has better risk-adjusted returns?

SHYL currently has the higher Sharpe Ratio (1.88 vs 1.83), 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.