XEML vs. BHYB

Last updated Jun 6, 2026

XEML (Xtrackers Europe Market Leaders ETF) and BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) are both exchange-traded funds - XEML is a Europe Equities fund tracking the STOXX Europe Total Market Leaders Index, while BHYB is a High Yield Bonds fund tracking the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. Both are passively managed. A 0.69 correlation means they provide meaningful diversification when combined. XEML charges 0.35%/yr vs 0.20%/yr for BHYB.

Performance

XEML vs. BHYB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Europe Market Leaders ETF (XEML) and Xtrackers USD High Yield BB-B ex Financials ETF (BHYB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with XEML at 1.49% and BHYB at 1.49%.

XEML

• 1D: -1.83%
• 1M: -1.97%
• YTD: 1.49%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BHYB

• 1D: -0.34%
• 1M: -0.17%
• YTD: 1.49%
• 6M: 1.87%
• 1Y: 7.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XEML vs. BHYB - Yearly Performance Comparison

	2026 (YTD)	2025
XEML Xtrackers Europe Market Leaders ETF	1.49%	-0.42%
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	1.49%	0.14%

Correlation

The correlation between XEML and BHYB 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 (All Time) Calculated using the full available price history since Dec 24, 2025	0.69

Return for Risk

XEML vs. BHYB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BHYB

BHYB Risk / Return Rank: 72
BHYB Sharpe Ratio Rank: 67
BHYB Sortino Ratio Rank: 76
BHYB Omega Ratio Rank: 75
BHYB Calmar Ratio Rank: 65
BHYB Martin Ratio Rank: 78

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.

XEML vs. BHYB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Europe Market Leaders ETF (XEML) and Xtrackers USD High Yield BB-B ex Financials ETF (BHYB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XEML	BHYB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	2.08	-1.96

Drawdowns

XEML vs. BHYB - Drawdown Comparison

The maximum XEML drawdown since its inception was -13.49%, which is greater than BHYB's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for XEML and BHYB.

Drawdown Indicators

	XEML	BHYB	Difference
Max Drawdown Largest peak-to-trough decline	-13.49%	-4.23%	-9.26%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.27%	—
Current Drawdown Current decline from peak	-6.81%	-0.40%	-6.41%
Average Drawdown Average peak-to-trough decline	-4.93%	-0.40%	-4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.49%	—

Volatility

Volatility by Period

	XEML	BHYB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.54%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.83%	3.41%	+16.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.83%	4.70%	+15.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.83%	4.70%	+15.13%

XEML vs. BHYB - Expense Ratio Comparison

XEML has a 0.35% expense ratio, which is higher than BHYB's 0.20% expense ratio.

Dividends

XEML vs. BHYB - Dividend Comparison

XEML's dividend yield for the trailing twelve months is around 0.10%, less than BHYB's 6.35% yield.

Position	TTM	2025	2024	2023
BHYB Xtrackers USD High Yield BB-B ex Financials ETF	6.35%	6.57%	7.04%	0.75%
XEML Xtrackers Europe Market Leaders ETF	0.10%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XEML and BHYB in my portfolio?

XEML and BHYB 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 ETF is better, XEML or BHYB?

On fees, BHYB is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XEML or BHYB?

BHYB is cheaper with a 0.20% expense ratio, compared with 0.35% for XEML.

Which ETF pays a higher dividend yield, XEML or BHYB?

BHYB has the higher dividend yield at 6.35%, compared with 0.10% for XEML.

What is the main difference between XEML and BHYB?

XEML is categorized as Europe Equities, while BHYB is High Yield Bonds. XEML tracks STOXX Europe Total Market Leaders Index, while BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. Their fees differ too: 0.35% for XEML and 0.20% for BHYB.