36B1.DE vs. HY3M.DE
36B1.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - 36B1.DE tracks the JP Morgan ESG EMBI Global Diversified while HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, 36B1.DE returned 1.88%/yr vs 3.45%/yr for HY3M.DE. A 0.53 correlation means they provide meaningful diversification when combined. 36B1.DE charges 0.45%/yr vs 0.40%/yr for HY3M.DE.
Performance
36B1.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36B1.DE achieves a 4.50% return, which is significantly lower than HY3M.DE's 6.76% return.
36B1.DE
- 1D
- 0.26%
- 1M
- 0.79%
- 6M
- 3.14%
- YTD
- 4.50%
- 1Y
- 10.75%
- 3Y*
- 7.32%
- 5Y*
- 1.88%
- 10Y*
- —
HY3M.DE
- 1D
- 0.18%
- 1M
- 0.99%
- 6M
- 4.21%
- YTD
- 6.76%
- 1Y
- 9.61%
- 3Y*
- 9.20%
- 5Y*
- 3.45%
- 10Y*
- —
36B1.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 4.50% | 0.52% | 11.39% | 6.09% | -13.65% | 5.10% | -3.83% | 1.34% | -1.20% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | 1.35% |
Correlation
The correlation between 36B1.DE and HY3M.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2018 | 0.53 |
The correlation between 36B1.DE and HY3M.DE has been stable across timeframes, ranging from 0.53 to 0.56 - a consistent structural relationship.
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Return for Risk
36B1.DE vs. HY3M.DE — Risk / Return Rank
36B1.DE
HY3M.DE
36B1.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.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.
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.
| 36B1.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.26 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 3.11 | +0.62 |
| Martin ratioReturn relative to average drawdown | 10.56 | 9.17 | +1.39 |
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Drawdowns
36B1.DE vs. HY3M.DE - Drawdown Comparison
The maximum 36B1.DE drawdown since its inception was -22.35%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for 36B1.DE and HY3M.DE.
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Drawdown Indicators
| 36B1.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.35% | -21.08% | -1.27% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -3.08% | +0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -12.32% | -12.09% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.23% | -13.58% | -2.65% |
Current DrawdownCurrent decline from peak | -1.28% | -0.77% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -8.65% | -7.04% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 1.04% | -0.02% |
Volatility
36B1.DE vs. HY3M.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) is 1.29%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.80%. This indicates that 36B1.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36B1.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.80% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 5.09% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.02% | 6.74% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.51% | 8.60% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.17% | 13.19% | -3.02% |
36B1.DE vs. HY3M.DE - Expense Ratio Comparison
36B1.DE has a 0.45% expense ratio, which is higher than HY3M.DE's 0.40% expense ratio.
Dividends
36B1.DE vs. HY3M.DE - Dividend Comparison
36B1.DE's dividend yield for the trailing twelve months is around 5.66%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 5.66% | 5.96% | 5.31% | 5.52% | 5.19% | 3.36% | 3.81% | 2.35% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
36B1.DE and HY3M.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HY3M.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HY3M.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for 36B1.DE.
36B1.DE tracks JP Morgan ESG EMBI Global Diversified, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for 36B1.DE and 0.40% for HY3M.DE.
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