CDX vs. VEMY

Last updated Aug 2, 2026

CDX (Simplify High Yield ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both exchange-traded funds - CDX is a High Yield Bonds fund actively managed by Simplify, while VEMY is a Emerging Markets Bonds fund actively managed by Virtus. Both are actively managed. Over the past 3 years, CDX returned 7.17%/yr vs 13.84%/yr for VEMY. Their 0.40 correlation means their historical movements had little consistent relationship. CDX charges 0.25%/yr vs 0.58%/yr for VEMY.

Performance

CDX vs. VEMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify High Yield ETF (CDX) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CDX achieves a -3.00% return, which is significantly lower than VEMY's 5.65% return.

CDX

• 1D: 0.10%
• 1M: -0.57%
• 6M: -3.06%
• YTD: -3.00%
• 1Y: -3.26%
• 3Y*: 7.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.85%

VEMY

• 1D: 0.04%
• 1M: -0.85%
• 6M: 3.07%
• YTD: 5.65%
• 1Y: 12.83%
• 3Y*: 13.84%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CDX Simplify High Yield ETF	$2.23M	$2.17M	$2.98M
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	$966.52K	$884.39K	$876.68K

CDX vs. VEMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CDX Simplify High Yield ETF	-3.00%	9.51%	7.71%	12.74%	-1.97%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	5.65%	15.27%	13.48%	14.45%	-1.43%

Correlation

The correlation between CDX and VEMY is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.35
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.40

Return for Risk

CDX vs. VEMY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CDX

CDX Risk / Return Rank: 4
CDX Sharpe Ratio Rank: 5
CDX Sortino Ratio Rank: 4
CDX Omega Ratio Rank: 4
CDX Calmar Ratio Rank: 4
CDX Martin Ratio Rank: 0

VEMY

VEMY Risk / Return Rank: 89
VEMY Sharpe Ratio Rank: 88
VEMY Sortino Ratio Rank: 92
VEMY Omega Ratio Rank: 91
VEMY Calmar Ratio Rank: 85
VEMY Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CDX vs. VEMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify High Yield ETF (CDX) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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.

	CDX	VEMY	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	2.15	-2.69
Sortino ratio: Return per unit of downside risk	-0.74	3.32	-4.06
Omega ratio: Gain probability vs. loss probability	0.92	1.43	-0.51
Calmar ratio: Return relative to maximum drawdown	-0.60	3.23	-3.83
Martin ratio: Return relative to average drawdown	-1.44	14.88	-16.32

CDX vs. VEMY - Sharpe Ratio Comparison

The current CDX Sharpe Ratio is -0.54, which is lower than the VEMY Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of CDX and VEMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CDX vs. VEMY - Drawdown Comparison

The maximum CDX drawdown since its inception was -13.24%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for CDX and VEMY.

Drawdown Indicators

	CDX	VEMY	Difference
Max Drawdown Largest peak-to-trough decline	-13.24%	-8.77%	-4.47%
Max Drawdown (1Y) Largest decline over 1 year	-5.37%	-4.00%	-1.37%
Max Drawdown (3Y) Largest decline over 3 years	-8.97%	-6.57%	-2.40%
Current Drawdown Current decline from peak	-7.94%	-1.07%	-6.87%
Average Drawdown Average peak-to-trough decline	-4.44%	-1.27%	-3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.87%	+1.37%

Volatility

CDX vs. VEMY - Volatility Comparison

Simplify High Yield ETF (CDX) has a higher volatility of 2.02% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.13%. This indicates that CDX's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CDX	VEMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	1.13%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	5.16%	4.52%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	6.02%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	7.52%	+3.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.97%	7.52%	+3.45%

CDX vs. VEMY - Expense Ratio Comparison

CDX has a 0.25% expense ratio, which is lower than VEMY's 0.58% expense ratio.

Dividends

CDX vs. VEMY - Dividend Comparison

CDX's dividend yield for the trailing twelve months is around 8.33%, more than VEMY's 8.12% yield.

Position	TTM	2025	2024	2023	2022
CDX Simplify High Yield ETF	8.33%	7.18%	12.60%	5.26%	7.51%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	8.12%	8.89%	10.28%	9.55%	0.00%

Frequently Asked Questions

Can I hold both CDX and VEMY in my portfolio?

CDX and VEMY have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CDX or VEMY?

CDX has higher volatility (2.02%) compared to VEMY (1.13%). In terms of maximum drawdown, CDX dropped -13.24% vs VEMY's -8.77%.

Which ETF is better, CDX or VEMY?

On 3-year performance, VEMY leads with 13.84% vs 7.17% for CDX. On fees, CDX is cheaper at 0.25% per year. On volatility, VEMY has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CDX or VEMY?

Over the 3-year period, VEMY has performed better with a 13.84% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CDX or VEMY?

CDX is cheaper with a 0.25% expense ratio, compared with 0.58% for VEMY.

Which ETF pays a higher dividend yield, CDX or VEMY?

CDX has the higher dividend yield at 8.33%, compared with 8.12% for VEMY.

What is the main difference between CDX and VEMY?

CDX is categorized as High Yield Bonds, while VEMY is Emerging Markets Bonds. They also come from different issuers: Simplify and Virtus. Their fees differ too: 0.25% for CDX and 0.58% for VEMY.

Which has better risk-adjusted returns?

VEMY currently has the higher Sharpe Ratio (2.15 vs -0.54), 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.