XQUD.DE vs. GHYG
XQUD.DE (Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF) and GHYG (iShares US & Intl High Yield Corp Bond ETF) are both exchange-traded funds - XQUD.DE is a Emerging Markets Bonds fund tracking the iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while GHYG is a High Yield Bonds fund tracking the Markit iBoxx Global Developed Markets High Yield Index. Both are passively managed. Over the past 3 years, XQUD.DE returned 2.35%/yr vs 6.05%/yr for GHYG. A 0.56 correlation means they provide meaningful diversification when combined. XQUD.DE charges 0.45%/yr vs 0.40%/yr for GHYG.
Performance
XQUD.DE vs. GHYG - Performance Comparison
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Different Trading Currencies
XQUD.DE is traded in EUR, while GHYG is traded in USD. To make them comparable, the GHYG values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, XQUD.DE achieves a 1.98% return, which is significantly higher than GHYG's 1.72% return.
XQUD.DE
- 1D
- -0.03%
- 1M
- 1.14%
- YTD
- 1.98%
- 6M
- 1.13%
- 1Y
- 6.03%
- 3Y*
- 2.35%
- 5Y*
- —
- 10Y*
- —
GHYG
- 1D
- -0.18%
- 1M
- 0.98%
- YTD
- 1.72%
- 6M
- 1.68%
- 1Y
- 4.50%
- 3Y*
- 6.05%
- 5Y*
- 4.23%
- 10Y*
- 4.53%
XQUD.DE vs. GHYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 1.98% | -1.36% | 5.23% | 3.70% | -0.16% |
GHYG iShares US & Intl High Yield Corp Bond ETF | 1.72% | -1.93% | 12.84% | 9.90% | 2.13% |
Correlation
The correlation between XQUD.DE and GHYG is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | 0.56 |
The correlation between XQUD.DE and GHYG has been stable across timeframes, ranging from 0.56 to 0.61 - a consistent structural relationship.
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Return for Risk
XQUD.DE vs. GHYG — Risk / Return Rank
XQUD.DE
GHYG
XQUD.DE vs. GHYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) and iShares US & Intl High Yield Corp Bond ETF (GHYG). 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.
| XQUD.DE | GHYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 1.74 | -0.17 |
| Martin ratioReturn relative to average drawdown | 4.64 | 4.86 | -0.22 |
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
| XQUD.DE | GHYG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 0.87 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.59 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.57 | -0.28 |
Drawdowns
XQUD.DE vs. GHYG - Drawdown Comparison
The maximum XQUD.DE drawdown since its inception was -12.01%, smaller than the maximum GHYG drawdown of -26.69%. Use the drawdown chart below to compare losses from any high point for XQUD.DE and GHYG.
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Drawdown Indicators
| XQUD.DE | GHYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.01% | -26.69% | +14.68% |
Max Drawdown (1Y)Largest decline over 1 year | -3.84% | -2.61% | -1.23% |
Max Drawdown (3Y)Largest decline over 3 years | -11.40% | -9.94% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | — | -9.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.69% | — |
Current DrawdownCurrent decline from peak | -2.99% | -2.35% | -0.64% |
Average DrawdownAverage peak-to-trough decline | -5.54% | -3.62% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 0.93% | +0.37% |
Volatility
XQUD.DE vs. GHYG - Volatility Comparison
The current volatility for Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF (XQUD.DE) is 1.12%, while iShares US & Intl High Yield Corp Bond ETF (GHYG) has a volatility of 1.27%. This indicates that XQUD.DE experiences smaller price fluctuations and is considered to be less risky than GHYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XQUD.DE | GHYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 1.27% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 3.74% | 3.65% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.77% | 5.20% | +0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.98% | 7.23% | +0.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.98% | 9.02% | -1.04% |
XQUD.DE vs. GHYG - Expense Ratio Comparison
XQUD.DE has a 0.45% expense ratio, which is higher than GHYG's 0.40% expense ratio.
Dividends
XQUD.DE vs. GHYG - Dividend Comparison
XQUD.DE has not paid dividends to shareholders, while GHYG's dividend yield for the trailing twelve months is around 6.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GHYG iShares US & Intl High Yield Corp Bond ETF | 6.24% | 6.03% | 6.11% | 5.60% | 4.64% | 4.57% | 4.36% | 4.61% | 5.62% | 4.60% | 4.61% | 4.79% |
XQUD.DE Xtrackers ESG USD Emerging Markets Bond Quality Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XQUD.DE and GHYG have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GHYG is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GHYG is cheaper with a 0.40% expense ratio, compared with 0.45% for XQUD.DE.
XQUD.DE is categorized as Emerging Markets Bonds, while GHYG is High Yield Bonds. XQUD.DE tracks iBoxx® MSCI ESG USD Emerging Markets Sovereigns Quality Weighted, while GHYG tracks Markit iBoxx Global Developed Markets High Yield Index. They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.45% for XQUD.DE and 0.40% for GHYG.
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