XHYG.DE vs. AYE2.DE
XHYG.DE (Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D) and AYE2.DE (iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc) are both European High Yield Bonds funds - XHYG.DE tracks the Bloomberg Pan Euro HY Euro TR EUR while AYE2.DE tracks the Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. Both are passively managed. Over the past 5 years, XHYG.DE returned 2.78%/yr vs 2.45%/yr for AYE2.DE. Their correlation of 0.84 suggests significant overlap in exposure. XHYG.DE charges 0.20%/yr vs 0.25%/yr for AYE2.DE.
Performance
XHYG.DE vs. AYE2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XHYG.DE achieves a 1.00% return, which is significantly higher than AYE2.DE's 0.71% return.
XHYG.DE
- 1D
- 0.08%
- 1M
- 0.61%
- YTD
- 1.00%
- 6M
- 1.35%
- 1Y
- 3.43%
- 3Y*
- 6.42%
- 5Y*
- 2.78%
- 10Y*
- 3.16%
AYE2.DE
- 1D
- -0.10%
- 1M
- 0.40%
- YTD
- 0.71%
- 6M
- 1.00%
- 1Y
- 4.01%
- 3Y*
- 6.88%
- 5Y*
- 2.45%
- 10Y*
- —
XHYG.DE vs. AYE2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
XHYG.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 1.00% | 4.63% | 6.16% | 11.48% | -8.51% | 0.78% |
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.71% | 5.88% | 6.36% | 10.77% | -10.72% | 0.80% |
Correlation
The correlation between XHYG.DE and AYE2.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 6, 2021 | 0.84 |
The correlation between XHYG.DE and AYE2.DE has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
XHYG.DE vs. AYE2.DE — Risk / Return Rank
XHYG.DE
AYE2.DE
XHYG.DE vs. AYE2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.DE) and iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE). 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.
| XHYG.DE | AYE2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.21 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.21 | +0.01 |
| Martin ratioReturn relative to average drawdown | 5.17 | 5.15 | +0.02 |
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
| XHYG.DE | AYE2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.97 | 1.05 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.45 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.45 | -0.01 |
Drawdowns
XHYG.DE vs. AYE2.DE - Drawdown Comparison
The maximum XHYG.DE drawdown since its inception was -24.00%, which is greater than AYE2.DE's maximum drawdown of -16.48%. Use the drawdown chart below to compare losses from any high point for XHYG.DE and AYE2.DE.
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Drawdown Indicators
| XHYG.DE | AYE2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.00% | -16.48% | -7.52% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -3.10% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -3.69% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -14.54% | -16.48% | +1.94% |
Max Drawdown (10Y)Largest decline over 10 years | -24.00% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.33% | +0.22% |
Average DrawdownAverage peak-to-trough decline | -2.34% | -3.96% | +1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.73% | -0.06% |
Volatility
XHYG.DE vs. AYE2.DE - Volatility Comparison
Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.DE) has a higher volatility of 1.15% compared to iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc (AYE2.DE) at 0.98%. This indicates that XHYG.DE's price experiences larger fluctuations and is considered to be riskier than AYE2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XHYG.DE | AYE2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.98% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.10% | 3.09% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.53% | 3.58% | -0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 5.34% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.17% | 5.26% | +1.91% |
XHYG.DE vs. AYE2.DE - Expense Ratio Comparison
XHYG.DE has a 0.20% expense ratio, which is lower than AYE2.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
XHYG.DE vs. AYE2.DE - Dividend Comparison
XHYG.DE's dividend yield for the trailing twelve months is around 4.93%, while AYE2.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AYE2.DE iShares EUR High Yield Corporate Bond ESG UCITS ETF EUR Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XHYG.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 4.93% | 4.75% | 5.48% | 3.95% | 3.70% | 5.75% | 2.27% | 3.54% | 5.11% | 3.71% | 1.25% |
Frequently Asked Questions
XHYG.DE and AYE2.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XHYG.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XHYG.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for AYE2.DE.
XHYG.DE tracks Bloomberg Pan Euro HY Euro TR EUR, while AYE2.DE tracks Bloomberg MSCI Euro Corporate High Yield Sustainable BB+ SRI Bond. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.20% for XHYG.DE and 0.25% for AYE2.DE.
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