EMHY vs. BKHY
Compare and contrast key facts about iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and BNY Mellon High Yield Beta ETF (BKHY).
EMHY and BKHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMHY is a passively managed fund by iShares that tracks the performance of the J.P. Morgan USD Emerging Markets High Yield Bond Index. It was launched on Apr 3, 2012. BKHY is a passively managed fund by The Bank of New York Mellon Corp. that tracks the performance of the Bloomberg US Corporate High Yield Index. It was launched on Apr 24, 2020. Both EMHY and BKHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: EMHY or BKHY.
Key characteristics
| EMHY | BKHY | |
|---|---|---|
| YTD Return | 11.46% | 8.15% |
| 1Y Return | 19.92% | 13.95% |
| 3Y Return (Ann) | 2.30% | 2.72% |
| Sharpe Ratio | 3.00 | 3.05 |
| Sortino Ratio | 4.43 | 4.79 |
| Omega Ratio | 1.57 | 1.60 |
| Calmar Ratio | 1.43 | 2.44 |
| Martin Ratio | 24.34 | 25.73 |
| Ulcer Index | 0.83% | 0.53% |
| Daily Std Dev | 6.75% | 4.51% |
| Max Drawdown | -30.11% | -15.89% |
| Current Drawdown | -1.34% | -0.32% |
Correlation
The correlation between EMHY and BKHY is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
EMHY vs. BKHY - Performance Comparison
In the year-to-date period, EMHY achieves a 11.46% return, which is significantly higher than BKHY's 8.15% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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EMHY vs. BKHY - Expense Ratio Comparison
EMHY has a 0.50% expense ratio, which is higher than BKHY's 0.22% expense ratio.
Risk-Adjusted Performance
EMHY vs. BKHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and BNY Mellon High Yield Beta ETF (BKHY). 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.
Dividends
EMHY vs. BKHY - Dividend Comparison
EMHY's dividend yield for the trailing twelve months is around 6.55%, less than BKHY's 7.01% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 6.55% | 6.73% | 7.08% | 5.59% | 5.44% | 5.72% | 6.80% | 5.59% | 6.43% | 6.99% | 6.37% | 6.03% |
BKHY BNY Mellon High Yield Beta ETF | 7.01% | 8.67% | 6.59% | 6.78% | 4.65% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
EMHY vs. BKHY - Drawdown Comparison
The maximum EMHY drawdown since its inception was -30.11%, which is greater than BKHY's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for EMHY and BKHY. For additional features, visit the drawdowns tool.
Volatility
EMHY vs. BKHY - Volatility Comparison
iShares J.P. Morgan EM High Yield Bond ETF (EMHY) has a higher volatility of 1.70% compared to BNY Mellon High Yield Beta ETF (BKHY) at 0.85%. This indicates that EMHY's price experiences larger fluctuations and is considered to be riskier than BKHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.