FSYD vs. HYEM
FSYD (Fidelity Sustainable High Yield ETF) and HYEM (VanEck Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds. FSYD is actively managed, while HYEM is passively managed. Over the past 3 years, FSYD returned 8.88%/yr vs 10.22%/yr for HYEM. Their 0.60 correlation means they have sometimes moved together and sometimes differently. FSYD charges 0.55%/yr vs 0.40%/yr for HYEM.
Performance
FSYD vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, FSYD achieves a 3.26% return, which is significantly lower than HYEM's 4.38% return.
FSYD
- 1D
- 0.23%
- 1M
- -0.28%
- 6M
- 2.16%
- YTD
- 3.26%
- 1Y
- 8.07%
- 3Y*
- 8.88%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.76%
HYEM
- 1D
- 0.15%
- 1M
- 0.25%
- 6M
- 2.70%
- YTD
- 4.38%
- 1Y
- 7.54%
- 3Y*
- 10.22%
- 5Y*
- 3.15%
- 10Y*
- 4.33%
- ALL TIME*
- 4.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.48M | $1.25M | $1.35M | |
| $1.89M | $2.23M | $4.32M |
FSYD vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSYD Fidelity Sustainable High Yield ETF | 3.26% | 9.09% | 8.74% | 12.22% | -6.63% |
HYEM VanEck Emerging Markets High Yield Bond ETF | 4.38% | 9.24% | 12.14% | 8.35% | -9.99% |
Correlation
The correlation between FSYD and HYEM is 0.49, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.49 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Feb 17, 2022 | 0.60 |
The correlation between FSYD and HYEM shifts across timeframes, from 0.49 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FSYD vs. HYEM — Risk / Return Rank
FSYD
HYEM
FSYD vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable High Yield ETF (FSYD) and VanEck Emerging Markets High Yield Bond ETF (HYEM). 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.
| FSYD | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.33 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 2.78 | +0.25 |
| Martin ratioReturn relative to average drawdown | 11.85 | 11.12 | +0.73 |
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Drawdowns
FSYD vs. HYEM - Drawdown Comparison
The maximum FSYD drawdown since its inception was -12.11%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for FSYD and HYEM.
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Drawdown Indicators
| FSYD | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.11% | -30.96% | +18.85% |
Max Drawdown (1Y)Largest decline over 1 year | -2.67% | -2.73% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -5.49% | -5.23% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.29% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -0.51% | -0.10% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -2.33% | -4.35% | +2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.68% | 0.00% |
Volatility
FSYD vs. HYEM - Volatility Comparison
Fidelity Sustainable High Yield ETF (FSYD) has a higher volatility of 0.82% compared to VanEck Emerging Markets High Yield Bond ETF (HYEM) at 0.72%. This indicates that FSYD's price experiences larger fluctuations and is considered to be riskier than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSYD | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 0.72% | +0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 3.23% | 3.16% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.10% | 4.40% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.73% | 7.50% | +0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.73% | 9.26% | -1.53% |
FSYD vs. HYEM - Expense Ratio Comparison
FSYD has a 0.55% expense ratio, which is higher than HYEM's 0.40% expense ratio.
Dividends
FSYD vs. HYEM - Dividend Comparison
FSYD's dividend yield for the trailing twelve months is around 6.38%, less than HYEM's 6.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSYD Fidelity Sustainable High Yield ETF | 6.38% | 6.49% | 6.47% | 6.70% | 5.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYEM VanEck Emerging Markets High Yield Bond ETF | 6.79% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
Frequently Asked Questions
FSYD and HYEM have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSYD has higher volatility (0.82%) compared to HYEM (0.72%). In terms of maximum drawdown, FSYD dropped -12.11% vs HYEM's -30.96%.
On 3-year performance, HYEM leads with 10.22% vs 8.88% for FSYD. On fees, HYEM is cheaper at 0.40% per year. On volatility, HYEM has been the lower-risk option at 0.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYEM has performed better with a 10.22% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYEM is cheaper with a 0.40% expense ratio, compared with 0.55% for FSYD.
HYEM has the higher dividend yield at 6.79%, compared with 6.38% for FSYD.
They also come from different issuers: Fidelity and VanEck. Their fees differ too: 0.55% for FSYD and 0.40% for HYEM.
FSYD currently has the higher Sharpe Ratio (1.98 vs 1.72), 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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