HY3M.DE vs. FESD.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and FESD.DE (Fidelity Sustainable USD EM Bond UCITS ETF) are both Emerging Markets Bonds funds - HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index while FESD.DE tracks the Fidelity Sustainable USD EM Bond. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.37%/yr vs 1.92%/yr for FESD.DE. A 0.56 correlation means they provide meaningful diversification when combined. HY3M.DE charges 0.40%/yr vs 0.45%/yr for FESD.DE.
Performance
HY3M.DE vs. FESD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HY3M.DE achieves a 6.33% return, which is significantly higher than FESD.DE's 5.96% return.
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
FESD.DE
- 1D
- 0.00%
- 1M
- 0.56%
- 6M
- 5.20%
- YTD
- 5.96%
- 1Y
- 12.79%
- 3Y*
- 7.38%
- 5Y*
- 1.92%
- 10Y*
- —
HY3M.DE vs. FESD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 3.51% |
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF | 5.96% | 0.93% | 9.23% | 5.14% | -13.10% | -8.73% |
Correlation
The correlation between HY3M.DE and FESD.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021 | 0.56 |
The correlation between HY3M.DE and FESD.DE has been stable across timeframes, ranging from 0.54 to 0.57 - a consistent structural relationship.
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Return for Risk
HY3M.DE vs. FESD.DE — Risk / Return Rank
HY3M.DE
FESD.DE
HY3M.DE vs. FESD.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 Fidelity Sustainable USD EM Bond UCITS ETF (FESD.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 | FESD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.38 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 3.46 | -0.05 |
| Martin ratioReturn relative to average drawdown | 10.01 | 9.36 | +0.64 |
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Drawdowns
HY3M.DE vs. FESD.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum FESD.DE drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and FESD.DE.
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Drawdown Indicators
| HY3M.DE | FESD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -22.67% | +1.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.71% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -12.34% | +0.25% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -15.86% | +2.28% |
Current DrawdownCurrent decline from peak | -1.17% | -2.58% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -13.92% | +6.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.37% | -0.32% |
Volatility
HY3M.DE vs. FESD.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.97% compared to Fidelity Sustainable USD EM Bond UCITS ETF (FESD.DE) at 1.54%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than FESD.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 | FESD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 1.54% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 4.93% | +0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 6.75% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.61% | 8.74% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 10.61% | +2.59% |
HY3M.DE vs. FESD.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is lower than FESD.DE's 0.45% expense ratio.
Dividends
HY3M.DE vs. FESD.DE - Dividend Comparison
HY3M.DE has not paid dividends to shareholders, while FESD.DE's dividend yield for the trailing twelve months is around 7.70%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FESD.DE Fidelity Sustainable USD EM Bond UCITS ETF | 7.70% | 6.61% | 6.31% | 5.87% | 5.06% | 2.34% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HY3M.DE and FESD.DE have a correlation of 0.54, 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 FESD.DE.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while FESD.DE tracks Fidelity Sustainable USD EM Bond. They also come from different issuers: VanEck and Fidelity. Their fees differ too: 0.40% for HY3M.DE and 0.45% for FESD.DE.
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