BKHY vs. HYEM
BKHY (BNY Mellon High Yield Beta ETF) and HYEM (VanEck Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - BKHY tracks the Bloomberg US Corporate High Yield Index while HYEM tracks the ICE BofA Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, BKHY returned 4.07%/yr vs 3.17%/yr for HYEM. Their 0.56 correlation means they have sometimes moved together and sometimes differently. BKHY charges 0.22%/yr vs 0.40%/yr for HYEM.
Performance
BKHY vs. HYEM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, BKHY achieves a 2.54% return, which is significantly lower than HYEM's 4.49% return.
BKHY
- 1D
- 0.32%
- 1M
- 0.19%
- 6M
- 1.77%
- YTD
- 2.54%
- 1Y
- 5.76%
- 3Y*
- 8.60%
- 5Y*
- 4.07%
- 10Y*
- —
- ALL TIME*
- 6.55%
HYEM
- 1D
- 0.10%
- 1M
- 0.35%
- 6M
- 2.81%
- YTD
- 4.49%
- 1Y
- 7.49%
- 3Y*
- 10.26%
- 5Y*
- 3.17%
- 10Y*
- 4.34%
- ALL TIME*
- 4.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.29M | $953.81K | $870.21K | |
| $2.00M | $2.24M | $4.33M |
BKHY vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 2.54% | 8.48% | 8.37% | 12.40% | -10.97% | 4.75% | 17.83% |
HYEM VanEck Emerging Markets High Yield Bond ETF | 4.49% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 21.22% |
Correlation
The correlation between BKHY and HYEM is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Apr 24, 2020 | 0.56 |
The correlation between BKHY and HYEM shifts across timeframes, from 0.49 (1 year) to 0.59 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
BKHY vs. HYEM — Risk / Return Rank
BKHY
HYEM
BKHY vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNY Mellon High Yield Beta ETF (BKHY) and VanEck Emerging Markets High Yield Bond ETF (HYEM). 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.
| BKHY | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 2.76 | -0.47 |
| Martin ratioReturn relative to average drawdown | 10.28 | 11.04 | -0.76 |
Loading charts...
Drawdowns
BKHY vs. HYEM - Drawdown Comparison
The maximum BKHY drawdown since its inception was -15.89%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for BKHY and HYEM.
Loading charts...
Drawdown Indicators
| BKHY | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.89% | -30.96% | +15.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -2.73% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -5.23% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -15.89% | -26.29% | +10.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -2.90% | -4.35% | +1.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.68% | -0.12% |
Volatility
BKHY vs. HYEM - Volatility Comparison
BNY Mellon High Yield Beta ETF (BKHY) has a higher volatility of 0.89% compared to VanEck Emerging Markets High Yield Bond ETF (HYEM) at 0.71%. This indicates that BKHY's price experiences larger fluctuations and is considered to be riskier than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| BKHY | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 0.71% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 3.11% | 3.16% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 4.39% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.59% | 7.50% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.28% | 9.26% | -1.98% |
BKHY vs. HYEM - Expense Ratio Comparison
BKHY has a 0.22% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
BKHY vs. HYEM - Dividend Comparison
BKHY's dividend yield for the trailing twelve months is around 7.41%, more than HYEM's 6.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKHY BNY Mellon High Yield Beta ETF | 7.41% | 7.33% | 7.34% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYEM VanEck Emerging Markets High Yield Bond ETF | 6.78% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
Frequently Asked Questions
BKHY and HYEM have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BKHY has higher volatility (0.89%) compared to HYEM (0.71%). In terms of maximum drawdown, BKHY dropped -15.89% vs HYEM's -30.96%.
On 5-year performance, BKHY leads with 4.07% vs 3.17% for HYEM. On fees, BKHY is cheaper at 0.22% per year. On volatility, HYEM has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BKHY has performed better with a 4.07% return vs 3.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BKHY is cheaper with a 0.22% expense ratio, compared with 0.40% for HYEM.
BKHY has the higher dividend yield at 7.41%, compared with 6.78% for HYEM.
BKHY tracks Bloomberg US Corporate High Yield Index, while HYEM tracks ICE BofA Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: BNY Mellon and VanEck. Their fees differ too: 0.22% for BKHY and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (1.71 vs 1.55), 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.
Find the right allocation for BKHY and HYEM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer