SHYL vs. SHYG
SHYL (Xtrackers Short Duration High Yield Bond ETF) and SHYG (iShares 0-5 Year High Yield Corporate Bond ETF) are both High Yield Bonds funds - SHYL tracks the Solactive USD High Yield Corporates Total Market 0-5 Year Index while SHYG tracks the Markit iBoxx USD Liquid High Yield 0-5 Index. Both are passively managed. Over the past 5 years, SHYL returned 4.84%/yr vs 4.80%/yr for SHYG. Their correlation of 0.92 means they have usually moved in the same direction. SHYL charges 0.20%/yr vs 0.30%/yr for SHYG.
Performance
SHYL vs. SHYG - Performance Comparison
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Returns By Period
In the year-to-date period, SHYL achieves a 1.40% return, which is significantly lower than SHYG's 1.80% return.
SHYL
- 1D
- 0.00%
- 1M
- -0.36%
- 6M
- 1.08%
- YTD
- 1.40%
- 1Y
- 4.67%
- 3Y*
- 7.88%
- 5Y*
- 4.84%
- 10Y*
- —
- ALL TIME*
- 4.74%
SHYG
- 1D
- 0.02%
- 1M
- -0.21%
- 6M
- 1.25%
- YTD
- 1.80%
- 1Y
- 5.03%
- 3Y*
- 7.72%
- 5Y*
- 4.80%
- 10Y*
- 5.01%
- ALL TIME*
- 4.38%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $70.17M | $61.77M | $59.13M | |
| $4.01M | $2.77M | $1.73M |
SHYL vs. SHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHYL Xtrackers Short Duration High Yield Bond ETF | 1.40% | 7.78% | 8.52% | 11.39% | -5.21% | 4.60% | 3.64% | 10.16% | -0.67% |
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 1.80% | 7.94% | 8.17% | 10.38% | -4.71% | 4.60% | 3.15% | 9.93% | -0.27% |
Correlation
The correlation between SHYL and SHYG is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 10, 2018 | 0.92 |
The correlation between SHYL and SHYG has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
SHYL vs. SHYG — Risk / Return Rank
SHYL
SHYG
SHYL vs. SHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Short Duration High Yield Bond ETF (SHYL) and iShares 0-5 Year High Yield Corporate Bond ETF (SHYG). 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 | SHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 2.84 | +0.01 |
| Martin ratioReturn relative to average drawdown | 10.87 | 12.17 | -1.31 |
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Drawdowns
SHYL vs. SHYG - Drawdown Comparison
The maximum SHYL drawdown since its inception was -19.26%, roughly equal to the maximum SHYG drawdown of -19.26%. Use the drawdown chart below to compare losses from any high point for SHYL and SHYG.
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Drawdown Indicators
| SHYL | SHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.26% | -19.26% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -1.59% | -1.75% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.73% | -4.53% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -9.60% | -9.39% | -0.21% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.26% | — |
Current DrawdownCurrent decline from peak | -0.41% | -0.31% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -1.51% | -1.43% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.41% | +0.01% |
Volatility
SHYL vs. SHYG - Volatility Comparison
Xtrackers Short Duration High Yield Bond ETF (SHYL) has a higher volatility of 0.71% compared to iShares 0-5 Year High Yield Corporate Bond ETF (SHYG) at 0.60%. This indicates that SHYL's price experiences larger fluctuations and is considered to be riskier than SHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHYL | SHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.60% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 2.61% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 3.17% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.84% | 5.74% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.64% | 6.39% | +0.25% |
SHYL vs. SHYG - Expense Ratio Comparison
SHYL has a 0.20% expense ratio, which is lower than SHYG's 0.30% expense ratio.
Dividends
SHYL vs. SHYG - Dividend Comparison
SHYL's dividend yield for the trailing twelve months is around 6.94%, less than SHYG's 7.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 6.43% | 7.03% | 6.93% | 6.54% | 5.57% | 4.83% | 5.07% | 5.33% | 5.90% | 5.49% | 5.53% | 5.17% |
SHYL Xtrackers Short Duration High Yield Bond ETF | 6.40% | 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
With a correlation of 0.91, SHYL and SHYG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
SHYL has higher volatility (0.71%) compared to SHYG (0.60%). In terms of maximum drawdown, SHYL dropped -19.26% vs SHYG's -19.26%.
On 5-year performance, SHYL leads with 4.84% vs 4.80% for SHYG. On fees, SHYL is cheaper at 0.20% per year. On volatility, SHYG has been the lower-risk option at 0.60%. 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 4.84% return vs 4.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHYL is cheaper with a 0.20% expense ratio, compared with 0.30% for SHYG.
SHYG has the higher dividend yield at 6.43%, compared with 6.40% for SHYL.
SHYL tracks Solactive USD High Yield Corporates Total Market 0-5 Year Index, while SHYG tracks Markit iBoxx USD Liquid High Yield 0-5 Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.20% for SHYL and 0.30% for SHYG.
SHYG currently has the higher Sharpe Ratio (1.57 vs 1.43), 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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