HY3M.DE vs. JMBA.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and JMBA.DE (JPM USD Emerging Markets Sovereign 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 JMBA.DE tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.37%/yr vs 1.93%/yr for JMBA.DE. A 0.53 correlation means they provide meaningful diversification when combined. HY3M.DE charges 0.40%/yr vs 0.39%/yr for JMBA.DE.
Performance
HY3M.DE vs. JMBA.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 JMBA.DE's 4.33% 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*
- —
JMBA.DE
- 1D
- -0.15%
- 1M
- 0.55%
- 6M
- 3.60%
- YTD
- 4.33%
- 1Y
- 10.91%
- 3Y*
- 6.62%
- 5Y*
- 1.93%
- 10Y*
- —
HY3M.DE vs. JMBA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 1.59% |
JMBA.DE JPM USD Emerging Markets Sovereign Bond UCITS ETF | 4.33% | 0.84% | 7.77% | 5.79% | -10.80% | 5.58% | -4.14% | -7.72% |
Correlation
The correlation between HY3M.DE and JMBA.DE is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.53 |
The correlation between HY3M.DE and JMBA.DE has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.
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Return for Risk
HY3M.DE vs. JMBA.DE — Risk / Return Rank
HY3M.DE
JMBA.DE
HY3M.DE vs. JMBA.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 USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.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 | JMBA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.39 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 3.84 | -0.43 |
| Martin ratioReturn relative to average drawdown | 10.01 | 11.71 | -1.70 |
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Drawdowns
HY3M.DE vs. JMBA.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum JMBA.DE drawdown of -26.66%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and JMBA.DE.
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Drawdown Indicators
| HY3M.DE | JMBA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -26.66% | +5.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.14% | +0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -12.45% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -14.09% | +0.51% |
Current DrawdownCurrent decline from peak | -1.17% | -1.40% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -11.27% | +4.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.03% | +0.02% |
Volatility
HY3M.DE vs. JMBA.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.97% compared to JPM USD Emerging Markets Sovereign Bond UCITS ETF (JMBA.DE) at 1.53%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than JMBA.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 | JMBA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 1.53% | +0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 4.11% | +1.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 6.05% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.61% | 8.43% | +0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 10.70% | +2.50% |
HY3M.DE vs. JMBA.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than JMBA.DE's 0.39% expense ratio.
Dividends
HY3M.DE vs. JMBA.DE - Dividend Comparison
Neither HY3M.DE nor JMBA.DE has paid dividends to shareholders.
Frequently Asked Questions
HY3M.DE and JMBA.DE have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JMBA.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JMBA.DE is cheaper with a 0.39% expense ratio, compared with 0.40% for HY3M.DE.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while JMBA.DE tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.40% for HY3M.DE and 0.39% for JMBA.DE.
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