AYEM.DE vs. XHYG.DE
AYEM.DE (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) and XHYG.DE (Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D) are both exchange-traded funds - AYEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI ESG Screened, while XHYG.DE is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 5 years, AYEM.DE returned 8.30%/yr vs 2.78%/yr for XHYG.DE. At a 0.49 correlation, their price movements are largely independent. AYEM.DE charges 0.18%/yr vs 0.20%/yr for XHYG.DE.
Performance
AYEM.DE vs. XHYG.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AYEM.DE achieves a 26.90% return, which is significantly higher than XHYG.DE's 1.00% return.
AYEM.DE
- 1D
- -1.29%
- 1M
- 4.35%
- YTD
- 26.90%
- 6M
- 27.17%
- 1Y
- 46.15%
- 3Y*
- 20.23%
- 5Y*
- 8.30%
- 10Y*
- —
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%
AYEM.DE vs. XHYG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 26.90% | 17.51% | 14.02% | 6.81% | -14.64% | 6.10% | 7.92% | 21.67% | 1.83% |
XHYG.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D | 1.00% | 4.63% | 6.16% | 11.48% | -8.51% | 2.12% | 1.72% | 9.91% | -2.85% |
Correlation
The correlation between AYEM.DE and XHYG.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 | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018 | 0.49 |
The correlation between AYEM.DE and XHYG.DE has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.
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Return for Risk
AYEM.DE vs. XHYG.DE — Risk / Return Rank
AYEM.DE
XHYG.DE
AYEM.DE vs. XHYG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.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.
| AYEM.DE | XHYG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.03 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.20 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | 1.22 | +3.08 |
| Martin ratioReturn relative to average drawdown | 15.83 | 5.17 | +10.66 |
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
| AYEM.DE | XHYG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.68 | 0.97 | +1.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.51 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.44 | +0.14 |
Drawdowns
AYEM.DE vs. XHYG.DE - Drawdown Comparison
The maximum AYEM.DE drawdown since its inception was -31.19%, which is greater than XHYG.DE's maximum drawdown of -24.00%. Use the drawdown chart below to compare losses from any high point for AYEM.DE and XHYG.DE.
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Drawdown Indicators
| AYEM.DE | XHYG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -24.00% | -7.19% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -2.81% | -8.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | -3.64% | -15.50% |
Max Drawdown (5Y)Largest decline over 5 years | -23.38% | -14.54% | -8.84% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.00% | — |
Current DrawdownCurrent decline from peak | -2.20% | -0.11% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -8.38% | -2.34% | -6.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 0.67% | +2.33% |
Volatility
AYEM.DE vs. XHYG.DE - Volatility Comparison
iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) has a higher volatility of 7.02% compared to Xtrackers EUR High Yield Corporate Bond UCITS ETF 1D (XHYG.DE) at 1.15%. This indicates that AYEM.DE's price experiences larger fluctuations and is considered to be riskier than XHYG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AYEM.DE | XHYG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 1.15% | +5.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.89% | 3.10% | +11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 3.53% | +14.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 5.45% | +10.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 7.17% | +11.45% |
AYEM.DE vs. XHYG.DE - Expense Ratio Comparison
AYEM.DE has a 0.18% expense ratio, which is lower than XHYG.DE's 0.20% 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
AYEM.DE vs. XHYG.DE - Dividend Comparison
AYEM.DE has not paid dividends to shareholders, while XHYG.DE's dividend yield for the trailing twelve months is around 4.93%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (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
AYEM.DE and XHYG.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, AYEM.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AYEM.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for XHYG.DE.
AYEM.DE is categorized as Emerging Markets Equities, while XHYG.DE is European High Yield Bonds. AYEM.DE tracks MSCI Emerging Markets IMI ESG Screened, while XHYG.DE tracks Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.18% for AYEM.DE and 0.20% for XHYG.DE.
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