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HEEM vs. VYMI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HEEM vs. VYMI

Last updated Aug 2, 2026
Documentation

HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds - HEEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets 100% USD Hedged 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, HEEM returned 9.86%/yr vs 11.09%/yr for VYMI. Their 0.74 correlation means they have sometimes moved together and sometimes differently. HEEM charges 0.72%/yr vs 0.07%/yr for VYMI.

Performance

HEEM vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) 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

The year-to-date returns for both stocks are quite close, with HEEM having a 18.23% return and VYMI slightly lower at 17.41%. Over the past 10 years, HEEM has underperformed VYMI with an annualized return of 9.86%, while VYMI has yielded a comparatively higher 11.09% annualized return.

HEEM

1D
0.85%
1M
-4.02%
6M
9.21%
YTD
18.23%
1Y
40.11%
3Y*
20.86%
5Y*
9.65%
10Y*
9.86%
ALL TIME*
7.84%

VYMI

1D
-0.51%
1M
4.32%
6M
11.07%
YTD
17.41%
1Y
34.68%
3Y*
21.98%
5Y*
14.02%
10Y*
11.09%
ALL TIME*
11.35%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HEEM

iShares Currency Hedged MSCI Emerging Markets ETF
$10.32M$12.63M$6.04M

VYMI

Vanguard International High Dividend Yield ETF
$78.22M$82.35M$92.64M

HEEM vs. VYMI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HEEM
iShares Currency Hedged MSCI Emerging Markets ETF		18.23%34.02%12.59%10.14%-16.85%-1.82%17.94%18.53%-11.09%27.59%
VYMI
Vanguard International High Dividend Yield ETF		17.41%38.05%7.06%17.07%-7.02%15.39%-1.11%18.43%-12.65%22.36%

Correlation

The correlation between HEEM and VYMI is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.61

Correlation (3Y)
Balances recent behavior with more history.

0.66

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.71

Correlation (10Y)
Provides a long-term view across more market conditions.

0.74

Correlation (All Time)
Calculated using the full available price history since Mar 2, 2016

0.74

The correlation between HEEM and VYMI shifts across timeframes, from 0.61 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

HEEM vs. VYMI - Sectors Allocation Comparison

Sectors
HEEM
VYMI

Technology

45.2%
5.3%

Financial Services

18.5%
42.4%

Consumer Cyclical

7.5%
6.0%

Industrials

6.3%
6.1%

Communication Services

6.0%
3.5%

Basic Materials

5.5%
6.5%

Energy

3.2%
7.9%

Consumer Defensive

2.6%
6.7%

Healthcare

2.5%
6.5%

Utilities

1.8%
5.2%

Real Estate

1.0%
1.1%

Technology

HEEM
45.2%
VYMI
5.3%

Financial Services

HEEM
18.5%
VYMI
42.4%

Consumer Cyclical

HEEM
7.5%
VYMI
6.0%

Industrials

HEEM
6.3%
VYMI
6.1%

Communication Services

HEEM
6.0%
VYMI
3.5%

Basic Materials

HEEM
5.5%
VYMI
6.5%

Energy

HEEM
3.2%
VYMI
7.9%

Consumer Defensive

HEEM
2.6%
VYMI
6.7%

Healthcare

HEEM
2.5%
VYMI
6.5%

Utilities

HEEM
1.8%
VYMI
5.2%

Real Estate

HEEM
1.0%
VYMI
1.1%

Compare stocks, funds, or ETFs

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

iShares Currency Hedged MSCI Emerging Markets ETF

Vanguard International High Dividend Yield ETF

Often compared with HEEM:
HEEM vs. HEWJHEEM vs. IEMS.LHEEM vs. IEMGHEEM vs. VWOHEEM vs. AVEMHEEM vs. EDIVHEEM vs. SPEM
Often compared with VYMI:
VYMI vs. VYMVYMI vs. SCHYVYMI vs. SCHDVYMI vs. VIGIVYMI vs. VOOVYMI vs. IDEVVYMI vs. VXUS

Return for Risk

HEEM vs. VYMI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
HEEM
HEEM Risk / Return Rank: 7575
Overall Rank
HEEM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
HEEM Sortino Ratio Rank: 7171
Sortino Ratio Rank
HEEM Omega Ratio Rank: 7878
Omega Ratio Rank
HEEM Calmar Ratio Rank: 7575
Calmar Ratio Rank
HEEM Martin Ratio Rank: 7676
Martin Ratio Rank
VYMI
VYMI Risk / Return Rank: 9191
Overall Rank
VYMI Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
VYMI Sortino Ratio Rank: 9393
Sortino Ratio Rank
VYMI Omega Ratio Rank: 9393
Omega Ratio Rank
VYMI Calmar Ratio Rank: 8787
Calmar Ratio Rank
VYMI Martin Ratio Rank: 8989
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HEEM vs. VYMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) 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.

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.

HEEMVYMIDifference
Sharpe ratioReturn per unit of total volatility
1.72
2.63

-0.91

Sortino ratioReturn per unit of downside risk
2.29
3.59

-1.30

Omega ratioGain probability vs. loss probability

1.33

1.48

-0.15

Calmar ratioReturn relative to maximum drawdown

2.60

3.43

-0.84

Martin ratioReturn relative to average drawdown

9.49

13.55

-4.06

HEEM vs. VYMI - Sharpe Ratio Comparison

The current HEEM Sharpe Ratio is 1.72, which is lower than the VYMI Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of HEEM 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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Drawdowns

HEEM vs. VYMI - Drawdown Comparison

The maximum HEEM drawdown since its inception was -33.53%, smaller than the maximum VYMI drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for HEEM and VYMI.

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Drawdown Indicators

HEEMVYMIDifference

Max Drawdown

Largest peak-to-trough decline

-33.53%

-40.00%

+6.47%

Max Drawdown (1Y)

Largest decline over 1 year

-15.01%

-10.14%

-4.87%

Max Drawdown (3Y)

Largest decline over 3 years

-15.01%

-12.84%

-2.17%

Max Drawdown (5Y)

Largest decline over 5 years

-28.15%

-24.05%

-4.10%

Max Drawdown (10Y)

Largest decline over 10 years

-33.53%

-40.00%

+6.47%

Current Drawdown

Current decline from peak

-11.28%

-0.51%

-10.77%

Average Drawdown

Average peak-to-trough decline

-11.08%

-6.23%

-4.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.10%

2.56%

+1.54%

Volatility

HEEM vs. VYMI - Volatility Comparison

iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) has a higher volatility of 9.41% compared to Vanguard International High Dividend Yield ETF (VYMI) at 3.62%. This indicates that HEEM's price experiences larger fluctuations and is considered to be riskier 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

HEEMVYMIDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.41%

3.62%

+5.79%

Volatility (6M)

Calculated over the trailing 6-month period

20.67%

11.39%

+9.28%

Volatility (1Y)

Calculated over the trailing 1-year period

22.65%

13.24%

+9.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.03%

14.85%

+3.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.40%

16.55%

+1.85%

HEEM vs. VYMI - Expense Ratio Comparison

HEEM has a 0.72% expense ratio, which is higher than VYMI's 0.07% expense ratio.

Dividends

HEEM vs. VYMI - Dividend Comparison

HEEM's dividend yield for the trailing twelve months is around 3.25%, less than VYMI's 3.48% yield.

PositionTTM20252024202320222021202020192018201720162015
HEEM
iShares Currency Hedged MSCI Emerging Markets ETF		3.25%3.98%2.38%2.75%7.49%1.93%1.49%3.04%2.37%2.05%1.84%6.28%
VYMI
Vanguard International High Dividend Yield ETF		3.48%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

HEEM and VYMI 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.

HEEM has higher volatility (9.41%) compared to VYMI (3.62%). In terms of maximum drawdown, HEEM dropped -33.53% vs VYMI's -40.00%.

On 10-year performance, VYMI leads with 11.09% vs 9.86% for HEEM. On fees, VYMI is cheaper at 0.07% per year. On volatility, VYMI has been the lower-risk option at 3.62%. 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 11.09% return vs 9.86%. 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 0.72% for HEEM.

VYMI has the higher dividend yield at 3.48%, compared with 3.25% for HEEM.

HEEM is categorized as Emerging Markets Equities, while VYMI is Dividend. HEEM tracks MSCI Emerging Markets 100% USD Hedged 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: 0.72% for HEEM and 0.07% for VYMI.

VYMI currently has the higher Sharpe Ratio (2.63 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.

Portfolio Optimizer

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