EMHY vs. VEMY
EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both Emerging Markets Bonds funds. EMHY is passively managed, while VEMY is actively managed. Over the past 3 years, EMHY returned 13.15%/yr vs 15.75%/yr for VEMY. Their correlation of 0.90 suggests significant overlap in exposure. EMHY charges 0.50%/yr vs 0.58%/yr for VEMY.
Performance
EMHY vs. VEMY - Performance Comparison
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Returns By Period
In the year-to-date period, EMHY achieves a 2.80% return, which is significantly lower than VEMY's 5.89% return.
EMHY
- 1D
- -0.37%
- 1M
- 1.38%
- YTD
- 2.80%
- 6M
- 3.49%
- 1Y
- 12.96%
- 3Y*
- 13.15%
- 5Y*
- 4.25%
- 10Y*
- 4.73%
VEMY
- 1D
- -0.17%
- 1M
- 1.68%
- YTD
- 5.89%
- 6M
- 6.65%
- 1Y
- 18.61%
- 3Y*
- 15.75%
- 5Y*
- —
- 10Y*
- —
EMHY vs. VEMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2.80% | 13.70% | 11.97% | 11.47% | -1.25% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 5.89% | 15.27% | 13.48% | 14.45% | -1.08% |
Correlation
The correlation between EMHY and VEMY is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2022 | 0.90 |
The correlation between EMHY and VEMY has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
EMHY vs. VEMY — Risk / Return Rank
EMHY
VEMY
EMHY vs. VEMY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM High Yield Bond ETF (EMHY) 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.
| EMHY | VEMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.63 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 4.67 | -1.67 |
| Martin ratioReturn relative to average drawdown | 13.63 | 22.18 | -8.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMHY | VEMY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 3.09 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.83 | -1.33 |
Drawdowns
EMHY vs. VEMY - Drawdown Comparison
The maximum EMHY drawdown since its inception was -30.11%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for EMHY and VEMY.
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Drawdown Indicators
| EMHY | VEMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.11% | -8.77% | -21.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.34% | -4.00% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -6.57% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -25.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.11% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.17% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -1.30% | -3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.84% | +0.11% |
Volatility
EMHY vs. VEMY - Volatility Comparison
iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) have volatilities of 1.66% and 1.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHY | VEMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.60% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.31% | 4.65% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.65% | 6.05% | -0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.10% | 7.63% | +1.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.66% | 7.63% | +3.03% |
EMHY vs. VEMY - Expense Ratio Comparison
EMHY has a 0.50% expense ratio, which is lower than VEMY's 0.58% expense ratio.
Dividends
EMHY vs. VEMY - Dividend Comparison
EMHY's dividend yield for the trailing twelve months is around 6.41%, less than VEMY's 8.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 6.41% | 6.52% | 6.86% | 6.73% | 7.08% | 5.58% | 5.44% | 5.72% | 6.79% | 5.59% | 6.43% | 6.99% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.38% | 8.89% | 10.28% | 9.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMHY and VEMY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMHY has higher volatility (1.66%) compared to VEMY (1.60%). In terms of maximum drawdown, EMHY dropped -30.11% vs VEMY's -8.77%.
On 3-year performance, VEMY leads with 15.75% vs 13.15% for EMHY. On fees, EMHY is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VEMY has performed better with a 15.75% return vs 13.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMHY is cheaper with a 0.50% expense ratio, compared with 0.58% for VEMY.
VEMY has the higher dividend yield at 8.38%, compared with 6.41% for EMHY.
They also come from different issuers: iShares and Virtus. Their fees differ too: 0.50% for EMHY and 0.58% for VEMY.
VEMY currently has the higher Sharpe Ratio (3.09 vs 2.30), 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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