BSJX vs. HYEM
BSJX (Invesco BulletShares 2033 High Yield Corporate Bond ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - BSJX tracks the IVZ BulletShares USD High Yield Corporate Bond 2033 Index while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past year, BSJX returned 6.19% vs 9.28% for HYEM. At a 0.50 correlation, their price movements are largely independent. BSJX charges 0.42%/yr vs 0.40%/yr for HYEM.
Performance
BSJX vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, BSJX achieves a 1.51% return, which is significantly lower than HYEM's 4.12% return.
BSJX
- 1D
- 0.04%
- 1M
- 0.53%
- YTD
- 1.51%
- 6M
- 1.47%
- 1Y
- 6.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYEM
- 1D
- -0.15%
- 1M
- 1.11%
- YTD
- 4.12%
- 6M
- 3.98%
- 1Y
- 9.28%
- 3Y*
- 10.30%
- 5Y*
- 2.94%
- 10Y*
- 4.62%
BSJX vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BSJX Invesco BulletShares 2033 High Yield Corporate Bond ETF | 1.51% | 5.46% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.12% | 5.93% |
Correlation
The correlation between BSJX and HYEM is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025 | 0.50 |
The correlation between BSJX and HYEM has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
BSJX vs. HYEM — Risk / Return Rank
BSJX
HYEM
BSJX vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2033 High Yield Corporate Bond ETF (BSJX) and VanEck Vectors 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.
| BSJX | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.41 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 3.42 | -1.59 |
| Martin ratioReturn relative to average drawdown | 8.19 | 13.89 | -5.71 |
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Drawdowns
BSJX vs. HYEM - Drawdown Comparison
The maximum BSJX drawdown since its inception was -3.40%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for BSJX and HYEM.
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Drawdown Indicators
| BSJX | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.40% | -30.96% | +27.56% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -2.73% | -0.67% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.23% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -0.17% | -0.35% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -0.44% | -4.38% | +3.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.76% | 0.67% | +0.09% |
Volatility
BSJX vs. HYEM - Volatility Comparison
The current volatility for Invesco BulletShares 2033 High Yield Corporate Bond ETF (BSJX) is 1.09%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.15%. This indicates that BSJX experiences smaller price fluctuations and is considered to be less risky than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSJX | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.09% | 1.15% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 3.25% | +0.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.34% | 4.40% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.30% | 7.50% | -3.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.30% | 9.27% | -4.97% |
BSJX vs. HYEM - Expense Ratio Comparison
BSJX has a 0.42% expense ratio, which is higher than HYEM's 0.40% expense ratio.
Dividends
BSJX vs. HYEM - Dividend Comparison
BSJX's dividend yield for the trailing twelve months is around 6.89%, more than HYEM's 6.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSJX Invesco BulletShares 2033 High Yield Corporate Bond ETF | 6.89% | 4.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.51% | 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
BSJX and HYEM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.15%) compared to BSJX (1.09%). In terms of maximum drawdown, BSJX dropped -3.40% vs HYEM's -30.96%.
On 1-year performance, HYEM leads with 9.28% vs 6.19% for BSJX. On fees, HYEM is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HYEM has performed better with a 9.28% return vs 6.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYEM is cheaper with a 0.40% expense ratio, compared with 0.42% for BSJX.
BSJX has the higher dividend yield at 6.89%, compared with 6.51% for HYEM.
BSJX tracks IVZ BulletShares USD High Yield Corporate Bond 2033 Index, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.42% for BSJX and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.12 vs 1.44), 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.
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