GFEA.DE vs. HY3M.DE
GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both exchange-traded funds - GFEA.DE is a High Yield Bonds fund tracking the ICE Global Fallen Angel High Yield 10% Constrained, 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, GFEA.DE returned 3.70%/yr vs 3.37%/yr for HY3M.DE. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.
Performance
GFEA.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, GFEA.DE achieves a 6.88% return, which is significantly higher than HY3M.DE's 6.33% return.
GFEA.DE
- 1D
- 0.21%
- 1M
- 0.94%
- 6M
- 6.78%
- YTD
- 6.88%
- 1Y
- 8.93%
- 3Y*
- 7.74%
- 5Y*
- 3.70%
- 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*
- —
GFEA.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 6.88% | -2.31% | 12.21% | 6.69% | -7.67% | 10.64% | 6.81% | 16.29% | -16.16% |
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 GFEA.DE and HY3M.DE is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.52 |
The correlation between GFEA.DE and HY3M.DE has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.
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Return for Risk
GFEA.DE vs. HY3M.DE — Risk / Return Rank
GFEA.DE
HY3M.DE
GFEA.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.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.
| GFEA.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.28 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 3.41 | +0.22 |
| Martin ratioReturn relative to average drawdown | 11.55 | 10.01 | +1.55 |
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Drawdowns
GFEA.DE vs. HY3M.DE - Drawdown Comparison
The maximum GFEA.DE drawdown since its inception was -22.88%, 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 GFEA.DE and HY3M.DE.
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Drawdown Indicators
| GFEA.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.88% | -21.08% | -1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.45% | -3.08% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -9.97% | -12.09% | +2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -10.96% | -13.58% | +2.62% |
Current DrawdownCurrent decline from peak | -1.20% | -1.17% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -4.99% | -7.04% | +2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 1.05% | -0.28% |
Volatility
GFEA.DE vs. HY3M.DE - Volatility Comparison
VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a higher volatility of 3.15% compared to VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) at 1.97%. This indicates that GFEA.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
| GFEA.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 1.97% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 5.14% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 6.85% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 8.61% | -0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.56% | 13.20% | -2.64% |
GFEA.DE vs. HY3M.DE - Expense Ratio Comparison
Both GFEA.DE and HY3M.DE have an expense ratio of 0.40%.
Dividends
GFEA.DE vs. HY3M.DE - Dividend Comparison
Neither GFEA.DE nor HY3M.DE has paid dividends to shareholders.
Frequently Asked Questions
GFEA.DE and HY3M.DE have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
GFEA.DE and HY3M.DE have the same expense ratio: 0.40% per year.
GFEA.DE is categorized as High Yield Bonds, while HY3M.DE is Emerging Markets Bonds. GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index.
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