HY3M.DE vs. EM1C.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and EM1C.DE (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF) are both Emerging Markets Bonds funds from VanEck - HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index while EM1C.DE tracks the JP Morgan GBI-Emerging Markets Global Core. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.45%/yr vs 2.41%/yr for EM1C.DE. At a 0.37 correlation, their price movements are largely independent. HY3M.DE charges 0.40%/yr vs 0.30%/yr for EM1C.DE.
Performance
HY3M.DE vs. EM1C.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HY3M.DE achieves a 6.76% return, which is significantly higher than EM1C.DE's 4.27% return.
HY3M.DE
- 1D
- 0.18%
- 1M
- 0.99%
- 6M
- 4.21%
- YTD
- 6.76%
- 1Y
- 9.61%
- 3Y*
- 9.20%
- 5Y*
- 3.45%
- 10Y*
- —
EM1C.DE
- 1D
- -0.44%
- 1M
- 0.23%
- 6M
- 2.39%
- YTD
- 4.27%
- 1Y
- 8.95%
- 3Y*
- 4.77%
- 5Y*
- 2.41%
- 10Y*
- —
HY3M.DE vs. EM1C.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
EM1C.DE VanEck J.P. Morgan EM Local Currency Bond UCITS ETF | 4.27% | 4.52% | 3.70% | 6.43% | -4.55% | -2.31% | -6.15% | 12.06% | -3.79% |
Correlation
The correlation between HY3M.DE and EM1C.DE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.37 |
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Return for Risk
HY3M.DE vs. EM1C.DE — Risk / Return Rank
HY3M.DE
EM1C.DE
HY3M.DE vs. EM1C.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) and VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EM1C.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.
| HY3M.DE | EM1C.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.33 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.60 | +0.51 |
| Martin ratioReturn relative to average drawdown | 9.17 | 8.74 | +0.43 |
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Drawdowns
HY3M.DE vs. EM1C.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum EM1C.DE drawdown of -23.47%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and EM1C.DE.
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Drawdown Indicators
| HY3M.DE | EM1C.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -23.47% | +2.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.43% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -7.21% | -4.88% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -8.70% | -4.88% |
Current DrawdownCurrent decline from peak | -0.77% | -3.15% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -13.82% | +6.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.02% | +0.02% |
Volatility
HY3M.DE vs. EM1C.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.80% compared to VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EM1C.DE) at 1.12%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than EM1C.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HY3M.DE | EM1C.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.12% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 4.27% | +0.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 5.09% | +1.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 7.04% | +1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 10.10% | +3.09% |
HY3M.DE vs. EM1C.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than EM1C.DE's 0.30% expense ratio.
Dividends
HY3M.DE vs. EM1C.DE - Dividend Comparison
Neither HY3M.DE nor EM1C.DE has paid dividends to shareholders.
Frequently Asked Questions
HY3M.DE and EM1C.DE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EM1C.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EM1C.DE is cheaper with a 0.30% expense ratio, compared with 0.40% for HY3M.DE.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while EM1C.DE tracks JP Morgan GBI-Emerging Markets Global Core. Their fees differ too: 0.40% for HY3M.DE and 0.30% for EM1C.DE.
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