AHYB vs. AVEM

Last updated Jun 4, 2026

AHYB (American Century Select High Yield ETF) and AVEM (Avantis Emerging Markets Equity ETF) are both exchange-traded funds - AHYB is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained (BB), while AVEM is a Foreign Large Cap Equities fund tracking the MSCI Emerging Markets Index. Both are passively managed. Over the past 3 years, AHYB returned 7.88%/yr vs 26.07%/yr for AVEM. A 0.56 correlation means they provide meaningful diversification when combined. AHYB charges 0.45%/yr vs 0.33%/yr for AVEM.

Performance

AHYB vs. AVEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Select High Yield ETF (AHYB) and Avantis Emerging Markets Equity ETF (AVEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHYB achieves a 1.13% return, which is significantly lower than AVEM's 27.59% return.

AHYB

• 1D: -0.23%
• 1M: 0.35%
• YTD: 1.13%
• 6M: 1.68%
• 1Y: 6.54%
• 3Y*: 7.88%
• 5Y*: —
• 10Y*: —

AVEM

• 1D: -1.39%
• 1M: 8.65%
• YTD: 27.59%
• 6M: 29.75%
• 1Y: 55.00%
• 3Y*: 26.07%
• 5Y*: 9.92%
• 10Y*: —

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

AHYB vs. AVEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AHYB American Century Select High Yield ETF	1.13%	8.96%	6.32%	11.69%	-10.26%	0.84%
AVEM Avantis Emerging Markets Equity ETF	27.59%	34.48%	7.49%	15.30%	-18.15%	-0.67%

Correlation

The correlation between AHYB and AVEM is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Nov 19, 2021	0.56

The correlation between AHYB and AVEM has been stable across timeframes, ranging from 0.52 to 0.56 - a consistent structural relationship.

Return for Risk

AHYB vs. AVEM — Risk / Return Rank

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

AHYB

AHYB Risk / Return Rank: 62
AHYB Sharpe Ratio Rank: 59
AHYB Sortino Ratio Rank: 63
AHYB Omega Ratio Rank: 64
AHYB Calmar Ratio Rank: 56
AHYB Martin Ratio Rank: 69

AVEM

AVEM Risk / Return Rank: 82
AVEM Sharpe Ratio Rank: 85
AVEM Sortino Ratio Rank: 80
AVEM Omega Ratio Rank: 83
AVEM Calmar Ratio Rank: 80
AVEM Martin Ratio Rank: 82

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.

AHYB vs. AVEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Select High Yield ETF (AHYB) and Avantis Emerging Markets Equity ETF (AVEM). 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.

	AHYB	AVEM	Difference
Sharpe ratio Return per unit of total volatility	1.96	2.84	-0.88
Sortino ratio Return per unit of downside risk	2.93	3.65	-0.72
Omega ratio Gain probability vs. loss probability	1.39	1.51	-0.13
Calmar ratio Return relative to maximum drawdown	2.73	4.21	-1.48
Martin ratio Return relative to average drawdown	12.73	16.70	-3.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AHYB vs. AVEM - Sharpe Ratio Comparison

The current AHYB Sharpe Ratio is 1.96, which is lower than the AVEM Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of AHYB and AVEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AHYB	AVEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.96	2.84	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.12

Drawdowns

AHYB vs. AVEM - Drawdown Comparison

The maximum AHYB drawdown since its inception was -14.76%, smaller than the maximum AVEM drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for AHYB and AVEM.

Drawdown Indicators

	AHYB	AVEM	Difference
Max Drawdown Largest peak-to-trough decline	-14.76%	-36.05%	+21.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-13.13%	+10.72%
Max Drawdown (3Y) Largest decline over 3 years	-3.89%	-18.02%	+14.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.00%	—
Current Drawdown Current decline from peak	-0.31%	-1.39%	+1.08%
Average Drawdown Average peak-to-trough decline	-3.47%	-10.09%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	3.30%	-2.78%

Volatility

AHYB vs. AVEM - Volatility Comparison

The current volatility for American Century Select High Yield ETF (AHYB) is 1.04%, while Avantis Emerging Markets Equity ETF (AVEM) has a volatility of 8.33%. This indicates that AHYB experiences smaller price fluctuations and is considered to be less risky than AVEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHYB	AVEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	8.33%	-7.29%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	16.72%	-14.16%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	19.45%	-16.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.15%	18.34%	-11.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.15%	20.55%	-13.40%

AHYB vs. AVEM - Expense Ratio Comparison

AHYB has a 0.45% expense ratio, which is higher than AVEM's 0.33% expense ratio.

Dividends

AHYB vs. AVEM - Dividend Comparison

AHYB's dividend yield for the trailing twelve months is around 5.50%, more than AVEM's 1.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AHYB American Century Select High Yield ETF	5.50%	5.80%	5.87%	5.28%	5.06%	0.60%	0.00%	0.00%
AVEM Avantis Emerging Markets Equity ETF	1.98%	2.45%	3.17%	3.06%	2.77%	2.61%	1.60%	0.35%

Frequently Asked Questions

Can I hold both AHYB and AVEM in my portfolio?

AHYB and AVEM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHYB or AVEM?

AVEM has higher volatility (8.33%) compared to AHYB (1.04%). In terms of maximum drawdown, AHYB dropped -14.76% vs AVEM's -36.05%.

Which ETF is better, AHYB or AVEM?

On 3-year performance, AVEM leads with 26.07% vs 7.88% for AHYB. On fees, AVEM is cheaper at 0.33% per year. On volatility, AHYB has been the lower-risk option at 1.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AHYB or AVEM?

Over the 3-year period, AVEM has performed better with a 26.07% return vs 7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AHYB or AVEM?

AVEM is cheaper with a 0.33% expense ratio, compared with 0.45% for AHYB.

Which ETF pays a higher dividend yield, AHYB or AVEM?

AHYB has the higher dividend yield at 5.50%, compared with 1.98% for AVEM.

What is the main difference between AHYB and AVEM?

AHYB is categorized as High Yield Bonds, while AVEM is Foreign Large Cap Equities. AHYB tracks ICE BofA US High Yield Constrained (BB), while AVEM tracks MSCI Emerging Markets Index. Their fees differ too: 0.45% for AHYB and 0.33% for AVEM.

Which has better risk-adjusted returns?

AVEM currently has the higher Sharpe Ratio (2.84 vs 1.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.