DHYG.L vs. HYEM.L
DHYG.L (iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist)) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - DHYG.L tracks the Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD) while HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 3 years, DHYG.L returned 7.84%/yr vs 8.70%/yr for HYEM.L. At a correlation of -0.03, they often move in opposite directions. DHYG.L charges 0.27%/yr vs 0.40%/yr for HYEM.L.
Performance
DHYG.L vs. HYEM.L - Performance Comparison
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Different Trading Currencies
DHYG.L is traded in GBP, while HYEM.L is traded in USD. To make them comparable, the HYEM.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, DHYG.L achieves a 1.34% return, which is significantly lower than HYEM.L's 3.10% return.
DHYG.L
- 1D
- -0.25%
- 1M
- -0.01%
- 6M
- 1.11%
- YTD
- 1.34%
- 1Y
- 5.43%
- 3Y*
- 7.84%
- 5Y*
- —
- 10Y*
- —
HYEM.L
- 1D
- 0.00%
- 1M
- -1.20%
- 6M
- 2.35%
- YTD
- 3.10%
- 1Y
- 7.12%
- 3Y*
- 8.70%
- 5Y*
- 3.12%
- 10Y*
- —
DHYG.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 1.34% | 8.70% | 7.73% | 10.76% | -13.39% | -0.20% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.10% | 1.22% | 13.85% | 2.19% | -2.51% | -0.80% |
Correlation
The correlation between DHYG.L and HYEM.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2021 | -0.03 |
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Return for Risk
DHYG.L vs. HYEM.L — Risk / Return Rank
DHYG.L
HYEM.L
DHYG.L vs. HYEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L). 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.
| DHYG.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.17 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.71 | +0.41 |
| Martin ratioReturn relative to average drawdown | 8.99 | 4.63 | +4.37 |
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Drawdowns
DHYG.L vs. HYEM.L - Drawdown Comparison
The maximum DHYG.L drawdown since its inception was -17.27%, which is greater than HYEM.L's maximum drawdown of -15.44%. Use the drawdown chart below to compare losses from any high point for DHYG.L and HYEM.L.
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Drawdown Indicators
| DHYG.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.27% | -15.44% | -1.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -4.06% | +1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.39% | -9.01% | +4.62% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.20% | — |
Current DrawdownCurrent decline from peak | -0.48% | -2.59% | +2.11% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -3.64% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.63% | 1.50% | -0.87% |
Volatility
DHYG.L vs. HYEM.L - Volatility Comparison
The current volatility for iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) (DHYG.L) is 0.84%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) has a volatility of 1.74%. This indicates that DHYG.L experiences smaller price fluctuations and is considered to be less risky than HYEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DHYG.L | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.74% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 5.85% | -2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.06% | 7.61% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.88% | 9.99% | -3.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 10.09% | -3.21% |
DHYG.L vs. HYEM.L - Expense Ratio Comparison
DHYG.L has a 0.27% expense ratio, which is lower than HYEM.L's 0.40% expense ratio.
Dividends
DHYG.L vs. HYEM.L - Dividend Comparison
DHYG.L's dividend yield for the trailing twelve months is around 6.81%, while HYEM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DHYG.L iShares $ High Yield Corp Bond ESG SRI UCITS ETF GBP Hedged (Dist) | 6.81% | 6.70% | 7.02% | 6.41% | 6.51% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% |
Frequently Asked Questions
DHYG.L and HYEM.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DHYG.L is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DHYG.L is cheaper with a 0.27% expense ratio, compared with 0.40% for HYEM.L.
DHYG.L tracks Bloomberg MSCI US Corporate High Yield ESG SRI Bond Index (USD), while HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.27% for DHYG.L and 0.40% for HYEM.L.
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