FAHY.DE vs. HY3M.DE
FAHY.DE (Invesco US High Yield Fallen Angels UCITS ETF Dist) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both exchange-traded funds - FAHY.DE is a High Yield Bonds fund tracking the Bloomberg US Corporate High Yield TR USD, while HY3M.DE is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, FAHY.DE returned 3.02%/yr vs 3.37%/yr for HY3M.DE. A 0.59 correlation means they provide meaningful diversification when combined. FAHY.DE charges 0.45%/yr vs 0.40%/yr for HY3M.DE.
Performance
FAHY.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FAHY.DE achieves a 4.63% return, which is significantly lower than HY3M.DE's 6.33% return.
FAHY.DE
- 1D
- 0.16%
- 1M
- 2.12%
- 6M
- 2.96%
- YTD
- 4.63%
- 1Y
- 7.97%
- 3Y*
- 6.67%
- 5Y*
- 3.02%
- 10Y*
- —
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
FAHY.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 4.63% | -2.30% | 10.83% | 6.42% | -8.70% | 14.53% | -0.82% | 16.15% | 3.21% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
Correlation
The correlation between FAHY.DE and HY3M.DE is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.59 |
The correlation between FAHY.DE and HY3M.DE shifts across timeframes, from 0.55 (5 years) to 0.65 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FAHY.DE vs. HY3M.DE — Risk / Return Rank
FAHY.DE
HY3M.DE
FAHY.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE). 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.
| FAHY.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.28 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 3.41 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.05 | 10.01 | -3.95 |
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Drawdowns
FAHY.DE vs. HY3M.DE - Drawdown Comparison
The maximum FAHY.DE drawdown since its inception was -28.24%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for FAHY.DE and HY3M.DE.
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Drawdown Indicators
| FAHY.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.24% | -21.08% | -7.16% |
Max Drawdown (1Y)Largest decline over 1 year | -3.31% | -3.08% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -12.30% | -12.09% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -12.30% | -13.58% | +1.28% |
Current DrawdownCurrent decline from peak | -0.72% | -1.17% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -7.04% | +1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.05% | +0.26% |
Volatility
FAHY.DE vs. HY3M.DE - Volatility Comparison
Invesco US High Yield Fallen Angels UCITS ETF Dist (FAHY.DE) has a higher volatility of 2.51% compared to VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) at 1.97%. This indicates that FAHY.DE's price experiences larger fluctuations and is considered to be riskier than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAHY.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.51% | 1.97% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.83% | 5.14% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.67% | 6.85% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.46% | 8.61% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.81% | 13.20% | +0.61% |
FAHY.DE vs. HY3M.DE - Expense Ratio Comparison
FAHY.DE has a 0.45% expense ratio, which is higher than HY3M.DE's 0.40% expense ratio.
Dividends
FAHY.DE vs. HY3M.DE - Dividend Comparison
FAHY.DE's dividend yield for the trailing twelve months is around 6.45%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FAHY.DE Invesco US High Yield Fallen Angels UCITS ETF Dist | 6.45% | 6.75% | 6.86% | 6.89% | 5.82% | 4.47% | 6.24% | 6.07% | 6.09% | 5.71% | 1.23% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAHY.DE and HY3M.DE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HY3M.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HY3M.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for FAHY.DE.
FAHY.DE is categorized as High Yield Bonds, while HY3M.DE is Emerging Markets Bonds. FAHY.DE tracks Bloomberg US Corporate High Yield TR USD, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.45% for FAHY.DE and 0.40% for HY3M.DE.
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