CPHY vs. HYEM

Last updated Jun 5, 2026

CPHY (F/m Compoundr High Yield Bond ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - CPHY tracks the Nasdaq Compoundr U.S. High Yield Bond Index while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. At a 0.44 correlation, their price movements are largely independent. CPHY charges 0.35%/yr vs 0.40%/yr for HYEM.

Performance

CPHY vs. HYEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in F/m Compoundr High Yield Bond ETF (CPHY) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPHY achieves a 0.42% return, which is significantly lower than HYEM's 3.66% return.

CPHY

• 1D: 0.17%
• 1M: 0.38%
• YTD: 0.42%
• 6M: 0.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYEM

• 1D: -0.15%
• 1M: 0.11%
• YTD: 3.66%
• 6M: 4.19%
• 1Y: 9.57%
• 3Y*: 10.70%
• 5Y*: 2.99%
• 10Y*: 4.57%

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

CPHY vs. HYEM - Yearly Performance Comparison

	2026 (YTD)	2025
CPHY F/m Compoundr High Yield Bond ETF	0.42%	2.31%
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF	3.66%	2.31%

Correlation

The correlation between CPHY and HYEM is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 13, 2025	0.44

Return for Risk

CPHY vs. HYEM — Risk / Return Rank

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

HYEM

HYEM Risk / Return Rank: 74
HYEM Sharpe Ratio Rank: 70
HYEM Sortino Ratio Rank: 75
HYEM Omega Ratio Rank: 77
HYEM Calmar Ratio Rank: 73
HYEM Martin Ratio Rank: 77

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.

CPHY vs. HYEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for F/m Compoundr High Yield Bond ETF (CPHY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CPHY	HYEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.22	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.40	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.54	+0.41

Drawdowns

CPHY vs. HYEM - Drawdown Comparison

The maximum CPHY drawdown since its inception was -2.51%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for CPHY and HYEM.

Drawdown Indicators

	CPHY	HYEM	Difference
Max Drawdown Largest peak-to-trough decline	-2.51%	-30.96%	+28.45%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.23%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.30%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.96%	—
Current Drawdown Current decline from peak	-0.57%	-0.35%	-0.22%
Average Drawdown Average peak-to-trough decline	-0.56%	-4.40%	+3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.67%	—

Volatility

Volatility by Period

	CPHY	HYEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.58%	4.34%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.58%	7.49%	-3.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.58%	9.27%	-5.69%

CPHY vs. HYEM - Expense Ratio Comparison

CPHY has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.

Dividends

CPHY vs. HYEM - Dividend Comparison

CPHY has not paid dividends to shareholders, while HYEM's dividend yield for the trailing twelve months is around 6.54%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPHY F/m Compoundr High Yield Bond ETF	0.00%	0.00%	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	6.54%	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

Can I hold both CPHY and HYEM in my portfolio?

CPHY and HYEM have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPHY or HYEM?

On fees, CPHY is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPHY or HYEM?

CPHY is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.

Which ETF pays a higher dividend yield, CPHY or HYEM?

HYEM has the higher dividend yield at 6.54%, compared with 0.00% for CPHY.

What is the main difference between CPHY and HYEM?

CPHY tracks Nasdaq Compoundr U.S. High Yield Bond Index, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: F/m Investments and VanEck. Their fees differ too: 0.35% for CPHY and 0.40% for HYEM.