HY3M.DE vs. JGHY.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and JGHY.DE (JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc) 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 JGHY.DE is a High Yield Bonds fund actively managed by JPMorgan. HY3M.DE is passively managed, while JGHY.DE is actively managed. Over the past 5 years, HY3M.DE returned 3.45%/yr vs 4.43%/yr for JGHY.DE. A 0.58 correlation means they provide meaningful diversification when combined. HY3M.DE charges 0.40%/yr vs 0.35%/yr for JGHY.DE.
Performance
HY3M.DE vs. JGHY.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 JGHY.DE's 5.12% 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*
- —
JGHY.DE
- 1D
- 0.11%
- 1M
- 1.43%
- 6M
- 3.65%
- YTD
- 5.12%
- 1Y
- 8.71%
- 3Y*
- 7.84%
- 5Y*
- 4.43%
- 10Y*
- —
HY3M.DE vs. JGHY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -5.57% |
JGHY.DE JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 5.12% | -0.68% | 12.22% | 7.50% | -4.77% | 10.40% | -13.43% |
Correlation
The correlation between HY3M.DE and JGHY.DE is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.58 |
The correlation between HY3M.DE and JGHY.DE has been stable across timeframes, ranging from 0.58 to 0.67 - a consistent structural relationship.
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Return for Risk
HY3M.DE vs. JGHY.DE — Risk / Return Rank
HY3M.DE
JGHY.DE
HY3M.DE vs. JGHY.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 JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.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 | JGHY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.74 | -0.63 |
| Martin ratioReturn relative to average drawdown | 9.17 | 12.46 | -3.29 |
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Drawdowns
HY3M.DE vs. JGHY.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum JGHY.DE drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and JGHY.DE.
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Drawdown Indicators
| HY3M.DE | JGHY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -24.72% | +3.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.32% | -0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -10.49% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -10.49% | -3.09% |
Current DrawdownCurrent decline from peak | -0.77% | -0.32% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -6.58% | -0.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.70% | +0.34% |
Volatility
HY3M.DE vs. JGHY.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.80% compared to JPM Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.DE) at 1.04%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than JGHY.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 | JGHY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.04% | +0.76% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 3.00% | +2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 4.54% | +2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 6.56% | +2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 8.78% | +4.41% |
HY3M.DE vs. JGHY.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than JGHY.DE's 0.35% expense ratio.
Dividends
HY3M.DE vs. JGHY.DE - Dividend Comparison
Neither HY3M.DE nor JGHY.DE has paid dividends to shareholders.
Frequently Asked Questions
HY3M.DE and JGHY.DE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGHY.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGHY.DE is cheaper with a 0.35% expense ratio, compared with 0.40% for HY3M.DE.
HY3M.DE is categorized as Emerging Markets Bonds, while JGHY.DE is High Yield Bonds. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.40% for HY3M.DE and 0.35% for JGHY.DE.
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