HY3M.DE vs. GFEA.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and GFEA.DE (VanEck Global Fallen Angel High Yield Bond UCITS ETF) are both exchange-traded funds - HY3M.DE is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while GFEA.DE is a High Yield Bonds fund tracking the ICE Global Fallen Angel High Yield 10% Constrained. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.45%/yr vs 3.62%/yr for GFEA.DE. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.40% expense ratio.
Performance
HY3M.DE vs. GFEA.DE - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with HY3M.DE having a 6.76% return and GFEA.DE slightly lower at 6.46%.
HY3M.DE
- 1D
- 0.18%
- 1M
- 0.99%
- 6M
- 4.21%
- YTD
- 6.76%
- 1Y
- 9.61%
- 3Y*
- 9.20%
- 5Y*
- 3.45%
- 10Y*
- —
GFEA.DE
- 1D
- -0.70%
- 1M
- 0.76%
- 6M
- 4.61%
- YTD
- 6.46%
- 1Y
- 8.22%
- 3Y*
- 7.49%
- 5Y*
- 3.62%
- 10Y*
- —
HY3M.DE vs. GFEA.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% |
GFEA.DE VanEck Global Fallen Angel High Yield Bond UCITS ETF | 6.46% | -2.31% | 12.21% | 6.69% | -7.67% | 10.64% | 6.81% | 16.29% | -16.16% |
Correlation
The correlation between HY3M.DE and GFEA.DE is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
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 HY3M.DE and GFEA.DE has been stable across timeframes, ranging from 0.45 to 0.52 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HY3M.DE vs. GFEA.DE — Risk / Return Rank
HY3M.DE
GFEA.DE
HY3M.DE vs. GFEA.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 Global Fallen Angel High Yield Bond UCITS ETF (GFEA.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 | GFEA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.22 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.34 | -0.23 |
| Martin ratioReturn relative to average drawdown | 9.17 | 10.60 | -1.43 |
Loading charts...
Drawdowns
HY3M.DE vs. GFEA.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum GFEA.DE drawdown of -22.88%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and GFEA.DE.
Loading charts...
Drawdown Indicators
| HY3M.DE | GFEA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -22.88% | +1.80% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.45% | -0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -9.97% | -2.12% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -10.96% | -2.62% |
Current DrawdownCurrent decline from peak | -0.77% | -1.59% | +0.82% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -4.98% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.77% | +0.27% |
Volatility
HY3M.DE vs. GFEA.DE - Volatility Comparison
The current volatility for VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) is 1.80%, while VanEck Global Fallen Angel High Yield Bond UCITS ETF (GFEA.DE) has a volatility of 2.72%. This indicates that HY3M.DE experiences smaller price fluctuations and is considered to be less risky than GFEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HY3M.DE | GFEA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 2.72% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 5.41% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 7.00% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 7.86% | +0.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 10.56% | +2.63% |
HY3M.DE vs. GFEA.DE - Expense Ratio Comparison
Both HY3M.DE and GFEA.DE have an expense ratio of 0.40%.
Dividends
HY3M.DE vs. GFEA.DE - Dividend Comparison
Neither HY3M.DE nor GFEA.DE has paid dividends to shareholders.
Frequently Asked Questions
HY3M.DE and GFEA.DE have a correlation of 0.50, 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.
HY3M.DE and GFEA.DE have the same expense ratio: 0.40% per year.
HY3M.DE is categorized as Emerging Markets Bonds, while GFEA.DE is High Yield Bonds. HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while GFEA.DE tracks ICE Global Fallen Angel High Yield 10% Constrained.
Find the right allocation for HY3M.DE and GFEA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer