XYLD.DE vs. XAT1.DE
XYLD.DE (Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D) and XAT1.DE (Invesco AT1 Capital Bond ETF EUR Hedged Dist) are both Corporate Bonds funds - XYLD.DE tracks the Bloomberg US Corp Bond TR USD while XAT1.DE tracks the Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. Both are passively managed. Over the past 5 years, XYLD.DE returned 2.51%/yr vs 0.67%/yr for XAT1.DE. At a correlation of -0.10, they often move in opposite directions. XYLD.DE charges 0.16%/yr vs 0.39%/yr for XAT1.DE.
Performance
XYLD.DE vs. XAT1.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XYLD.DE achieves a 1.60% return, which is significantly higher than XAT1.DE's 0.23% return.
XYLD.DE
- 1D
- -0.01%
- 1M
- 0.83%
- YTD
- 1.60%
- 6M
- 1.03%
- 1Y
- 1.74%
- 3Y*
- 1.98%
- 5Y*
- 2.51%
- 10Y*
- —
XAT1.DE
- 1D
- -0.09%
- 1M
- -0.65%
- YTD
- 0.23%
- 6M
- 0.90%
- 1Y
- 5.64%
- 3Y*
- 8.79%
- 5Y*
- 0.67%
- 10Y*
- —
XYLD.DE vs. XAT1.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XYLD.DE Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D | 1.60% | -5.84% | 10.46% | 1.93% | -3.25% | 8.11% | 0.18% | 19.31% | 1.11% |
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 0.23% | 8.61% | 8.34% | -0.02% | -12.08% | 2.58% | 5.80% | 15.11% | -0.93% |
Correlation
The correlation between XYLD.DE and XAT1.DE is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2018 | -0.10 |
The correlation between XYLD.DE and XAT1.DE shifts across timeframes, from -0.21 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XYLD.DE vs. XAT1.DE — Risk / Return Rank
XYLD.DE
XAT1.DE
XYLD.DE vs. XAT1.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D (XYLD.DE) and Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.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.
| XYLD.DE | XAT1.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.24 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.52 | 1.55 | -1.03 |
| Martin ratioReturn relative to average drawdown | 1.24 | 6.31 | -5.07 |
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
| XYLD.DE | XAT1.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.32 | 1.15 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.08 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.31 | +0.27 |
Drawdowns
XYLD.DE vs. XAT1.DE - Drawdown Comparison
The maximum XYLD.DE drawdown since its inception was -16.92%, smaller than the maximum XAT1.DE drawdown of -28.95%. Use the drawdown chart below to compare losses from any high point for XYLD.DE and XAT1.DE.
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Drawdown Indicators
| XYLD.DE | XAT1.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.92% | -28.95% | +12.03% |
Max Drawdown (1Y)Largest decline over 1 year | -3.30% | -3.63% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -10.33% | -4.67% | -5.66% |
Max Drawdown (5Y)Largest decline over 5 years | -11.09% | -27.74% | +16.65% |
Current DrawdownCurrent decline from peak | -6.41% | -1.42% | -4.99% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -6.38% | +2.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.40% | 0.89% | +0.51% |
Volatility
XYLD.DE vs. XAT1.DE - Volatility Comparison
The current volatility for Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D (XYLD.DE) is 0.83%, while Invesco AT1 Capital Bond ETF EUR Hedged Dist (XAT1.DE) has a volatility of 1.69%. This indicates that XYLD.DE experiences smaller price fluctuations and is considered to be less risky than XAT1.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYLD.DE | XAT1.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.69% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 4.41% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.44% | 4.91% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.00% | 8.18% | -1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.66% | 10.25% | -2.59% |
XYLD.DE vs. XAT1.DE - Expense Ratio Comparison
XYLD.DE has a 0.16% expense ratio, which is lower than XAT1.DE's 0.39% expense ratio.
Dividends
XYLD.DE vs. XAT1.DE - Dividend Comparison
XYLD.DE's dividend yield for the trailing twelve months is around 3.18%, less than XAT1.DE's 5.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
XAT1.DE Invesco AT1 Capital Bond ETF EUR Hedged Dist | 5.94% | 5.95% | 6.40% | 6.17% | 6.02% | 4.42% | 5.23% | 5.59% | 2.63% |
XYLD.DE Xtrackers USD Corporate Bond Short Duration SRI PAB UCITS ETF 1D | 3.18% | 3.52% | 2.90% | 2.74% | 5.87% | 3.00% | 3.60% | 2.59% | 0.00% |
Frequently Asked Questions
XYLD.DE and XAT1.DE have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XYLD.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XYLD.DE is cheaper with a 0.16% expense ratio, compared with 0.39% for XAT1.DE.
XYLD.DE tracks Bloomberg US Corp Bond TR USD, while XAT1.DE tracks Markit iBoxx USD Contingent Convertible Liquid Developed Market AT1 (8% Issuer Cap) TR Index - USD. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.16% for XYLD.DE and 0.39% for XAT1.DE.
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