EMCS vs. BHYB
EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and BHYB (Xtrackers USD High Yield BB-B ex Financials ETF) are both exchange-traded funds - EMCS is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Climate Select Index, while BHYB is a High Yield Bonds fund tracking the ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. Both are passively managed. Over the past year, EMCS returned 55.24% vs 6.65% for BHYB. A 0.50 correlation means they provide meaningful diversification when combined. EMCS charges 0.15%/yr vs 0.20%/yr for BHYB.
Performance
EMCS vs. BHYB - Performance Comparison
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Returns By Period
In the year-to-date period, EMCS achieves a 30.08% return, which is significantly higher than BHYB's 2.02% return.
EMCS
- 1D
- -6.03%
- 1M
- 5.49%
- YTD
- 30.08%
- 6M
- 31.16%
- 1Y
- 55.24%
- 3Y*
- 26.52%
- 5Y*
- 7.51%
- 10Y*
- —
BHYB
- 1D
- 0.01%
- 1M
- 0.65%
- YTD
- 2.02%
- 6M
- 2.17%
- 1Y
- 6.65%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMCS vs. BHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF | 30.08% | 38.71% | 10.12% | 10.59% |
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2.02% | 8.90% | 6.44% | 8.23% |
Correlation
The correlation between EMCS and BHYB is 0.57, 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 | 0.57 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2023 | 0.50 |
The correlation between EMCS and BHYB has been stable across timeframes, ranging from 0.50 to 0.57 - a consistent structural relationship.
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Return for Risk
EMCS vs. BHYB — Risk / Return Rank
EMCS
BHYB
EMCS vs. BHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and Xtrackers USD High Yield BB-B ex Financials ETF (BHYB). 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.
| EMCS | BHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.39 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.88 | 2.94 | +0.94 |
| Martin ratioReturn relative to average drawdown | 14.31 | 13.42 | +0.89 |
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Drawdowns
EMCS vs. BHYB - Drawdown Comparison
The maximum EMCS drawdown since its inception was -44.86%, which is greater than BHYB's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for EMCS and BHYB.
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Drawdown Indicators
| EMCS | BHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.86% | -4.23% | -40.63% |
Max Drawdown (1Y)Largest decline over 1 year | -14.32% | -2.27% | -12.05% |
Max Drawdown (3Y)Largest decline over 3 years | -16.73% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -42.06% | — | — |
Current DrawdownCurrent decline from peak | -6.03% | -0.15% | -5.88% |
Average DrawdownAverage peak-to-trough decline | -16.52% | -0.39% | -16.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 0.50% | +3.37% |
Volatility
EMCS vs. BHYB - Volatility Comparison
Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a higher volatility of 14.09% compared to Xtrackers USD High Yield BB-B ex Financials ETF (BHYB) at 0.89%. This indicates that EMCS's price experiences larger fluctuations and is considered to be riskier than BHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCS | BHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.09% | 0.89% | +13.20% |
Volatility (6M)Calculated over the trailing 6-month period | 23.01% | 2.58% | +20.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.41% | 3.44% | +21.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.33% | 4.68% | +16.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.04% | 4.68% | +17.36% |
EMCS vs. BHYB - Expense Ratio Comparison
EMCS has a 0.15% expense ratio, which is lower than BHYB's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMCS vs. BHYB - Dividend Comparison
EMCS's dividend yield for the trailing twelve months is around 1.46%, less than BHYB's 6.31% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 6.31% | 6.57% | 7.04% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% |
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF | 1.46% | 1.66% | 0.67% | 3.07% | 2.26% | 1.46% | 1.40% | 3.56% |
Frequently Asked Questions
EMCS and BHYB have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMCS has higher volatility (14.09%) compared to BHYB (0.89%). In terms of maximum drawdown, EMCS dropped -44.86% vs BHYB's -4.23%.
On 1-year performance, EMCS leads with 55.24% vs 6.65% for BHYB. On fees, EMCS is cheaper at 0.15% per year. On volatility, BHYB has been the lower-risk option at 0.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMCS has performed better with a 55.24% return vs 6.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMCS is cheaper with a 0.15% expense ratio, compared with 0.20% for BHYB.
BHYB has the higher dividend yield at 6.31%, compared with 1.46% for EMCS.
EMCS is categorized as Emerging Markets Equities, while BHYB is High Yield Bonds. EMCS tracks MSCI Emerging Markets Climate Select Index, while BHYB tracks ICE BofA BB-B Non-FNCL Non-Distressed US HY Constrained Index - Benchmark TR Gross. Their fees differ too: 0.15% for EMCS and 0.20% for BHYB.
EMCS currently has the higher Sharpe Ratio (2.19 vs 1.94), 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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