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EMHY vs. VYMI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMHY vs. VYMI

Last updated Jun 4, 2026

EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds - EMHY is a Emerging Markets Bonds fund tracking the J.P. Morgan USD Emerging Markets High Yield Bond Index, while VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index. Both are passively managed. Over the past 10 years, EMHY returned 4.73%/yr vs 10.49%/yr for VYMI. A 0.56 correlation means they provide meaningful diversification when combined. EMHY charges 0.50%/yr vs 0.07%/yr for VYMI.

Performance

EMHY vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and Vanguard International High Dividend Yield ETF (VYMI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMHY achieves a 2.80% return, which is significantly lower than VYMI's 11.31% return. Over the past 10 years, EMHY has underperformed VYMI with an annualized return of 4.73%, while VYMI has yielded a comparatively higher 10.49% annualized 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%

VYMI

1D
-1.01%
1M
2.05%
YTD
11.31%
6M
14.77%
1Y
30.23%
3Y*
21.88%
5Y*
11.95%
10Y*
10.49%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMHY vs. VYMI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		2.80%13.70%11.97%11.47%-13.03%-1.91%3.83%12.98%-5.21%8.54%
VYMI
Vanguard International High Dividend Yield ETF		11.31%38.05%7.06%17.07%-7.02%15.39%-1.11%18.43%-12.65%22.36%

Correlation

The correlation between EMHY and VYMI is 0.59, 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

0.59

Correlation (3Y)
Calculated over the trailing 3-year period

0.60

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.56

Correlation (All Time)
Calculated using the full available price history since Mar 3, 2016

0.56

The correlation between EMHY and VYMI has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.

EMHY vs. VYMI - Sectors Allocation Comparison

Sectors
EMHY
VYMI

Industrials

100.0%
6.6%

Basic Materials

-

6.8%

Communication Services

-

4.0%

Consumer Cyclical

-

6.5%

Consumer Defensive

-

7.0%

Energy

-

9.5%

Financial Services

-

41.9%

Healthcare

-

6.6%

Real Estate

-

1.3%

Technology

-

4.3%

Utilities

-

5.6%

Industrials

EMHY
100.0%
VYMI
6.6%

Basic Materials

EMHY

-

VYMI
6.8%

Communication Services

EMHY

-

VYMI
4.0%

Consumer Cyclical

EMHY

-

VYMI
6.5%

Consumer Defensive

EMHY

-

VYMI
7.0%

Energy

EMHY

-

VYMI
9.5%

Financial Services

EMHY

-

VYMI
41.9%

Healthcare

EMHY

-

VYMI
6.6%

Real Estate

EMHY

-

VYMI
1.3%

Technology

EMHY

-

VYMI
4.3%

Utilities

EMHY

-

VYMI
5.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares J.P. Morgan EM High Yield Bond ETF

Vanguard International High Dividend Yield ETF

Often compared with EMHY:
EMHY vs. HYEMEMHY vs. VWOBEMHY vs. EMBEMHY vs. EMLCEMHY vs. USHYEMHY vs. PCYEMHY vs. BKHY
Often compared with VYMI:
VYMI vs. VYMVYMI vs. SCHYVYMI vs. SCHDVYMI vs. VIGIVYMI vs. VOOVYMI vs. IDEVVYMI vs. VT

Return for Risk

EMHY vs. VYMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMHY
EMHY Risk / Return Rank: 7171
Overall Rank
EMHY Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
EMHY Sortino Ratio Rank: 7575
Sortino Ratio Rank
EMHY Omega Ratio Rank: 7777
Omega Ratio Rank
EMHY Calmar Ratio Rank: 6060
Calmar Ratio Rank
EMHY Martin Ratio Rank: 7272
Martin Ratio Rank
VYMI
VYMI Risk / Return Rank: 6666
Overall Rank
VYMI Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VYMI Sortino Ratio Rank: 6868
Sortino Ratio Rank
VYMI Omega Ratio Rank: 6969
Omega Ratio Rank
VYMI Calmar Ratio Rank: 5959
Calmar Ratio Rank
VYMI Martin Ratio Rank: 6464
Martin Ratio Rank
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.

EMHY vs. VYMI - 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 Vanguard International High Dividend Yield ETF (VYMI). 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.

EMHYVYMIDifference
Sharpe ratioReturn per unit of total volatility
2.30
2.35

-0.04

Sortino ratioReturn per unit of downside risk
3.44
3.20

+0.24

Omega ratioGain probability vs. loss probability

1.47

1.43

+0.04

Calmar ratioReturn relative to maximum drawdown

3.00

2.99

0.00

Martin ratioReturn relative to average drawdown

13.63

11.80

+1.83

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMHY vs. VYMI - Sharpe Ratio Comparison

The current EMHY Sharpe Ratio is 2.30, which is comparable to the VYMI Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of EMHY and VYMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EMHYVYMIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.30

2.35

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.81

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.62

-0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.65

-0.15

Drawdowns

EMHY vs. VYMI - Drawdown Comparison

The maximum EMHY drawdown since its inception was -30.11%, smaller than the maximum VYMI drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for EMHY and VYMI.

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Drawdown Indicators

EMHYVYMIDifference

Max Drawdown

Largest peak-to-trough decline

-30.11%

-40.00%

+9.89%

Max Drawdown (1Y)

Largest decline over 1 year

-4.34%

-10.14%

+5.80%

Max Drawdown (3Y)

Largest decline over 3 years

-5.95%

-12.84%

+6.89%

Max Drawdown (5Y)

Largest decline over 5 years

-25.83%

-24.05%

-1.78%

Max Drawdown (10Y)

Largest decline over 10 years

-30.11%

-40.00%

+9.89%

Current Drawdown

Current decline from peak

-0.37%

-1.40%

+1.03%

Average Drawdown

Average peak-to-trough decline

-4.90%

-6.31%

+1.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

2.57%

-1.62%

Volatility

EMHY vs. VYMI - Volatility Comparison

The current volatility for iShares J.P. Morgan EM High Yield Bond ETF (EMHY) is 1.66%, while Vanguard International High Dividend Yield ETF (VYMI) has a volatility of 4.04%. This indicates that EMHY experiences smaller price fluctuations and is considered to be less risky than VYMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMHYVYMIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.66%

4.04%

-2.38%

Volatility (6M)

Calculated over the trailing 6-month period

4.31%

10.73%

-6.42%

Volatility (1Y)

Calculated over the trailing 1-year period

5.65%

12.94%

-7.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.10%

14.84%

-5.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.66%

16.87%

-6.21%

EMHY vs. VYMI - Expense Ratio Comparison

EMHY has a 0.50% expense ratio, which is higher than VYMI's 0.07% expense ratio.

Dividends

EMHY vs. VYMI - Dividend Comparison

EMHY's dividend yield for the trailing twelve months is around 6.41%, more than VYMI's 3.44% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VYMI
Vanguard International High Dividend Yield ETF		3.44%3.68%4.84%4.58%4.70%4.30%3.22%4.20%4.29%3.21%2.39%0.00%

Frequently Asked Questions

EMHY and VYMI have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VYMI has higher volatility (4.04%) compared to EMHY (1.66%). In terms of maximum drawdown, EMHY dropped -30.11% vs VYMI's -40.00%.

On 10-year performance, VYMI leads with 10.49% vs 4.73% for EMHY. On fees, VYMI is cheaper at 0.07% per year. On volatility, EMHY has been the lower-risk option at 1.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VYMI has performed better with a 10.49% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VYMI is cheaper with a 0.07% expense ratio, compared with 0.50% for EMHY.

EMHY has the higher dividend yield at 6.41%, compared with 3.44% for VYMI.

EMHY is categorized as Emerging Markets Bonds, while VYMI is Dividend. EMHY tracks J.P. Morgan USD Emerging Markets High Yield Bond Index, while VYMI tracks FTSE All-World ex US High Dividend Yield Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for EMHY and 0.07% for VYMI.

VYMI currently has the higher Sharpe Ratio (2.35 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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