HY3M.DE vs. JPBM.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and JPBM.DE (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist)) are both Emerging Markets Bonds funds - HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index while JPBM.DE tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.45%/yr vs 1.94%/yr for JPBM.DE. At a 0.47 correlation, their price movements are largely independent. HY3M.DE charges 0.40%/yr vs 0.39%/yr for JPBM.DE.
Performance
HY3M.DE vs. JPBM.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 JPBM.DE's 4.41% 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*
- —
JPBM.DE
- 1D
- 0.25%
- 1M
- 0.76%
- 6M
- 3.15%
- YTD
- 4.41%
- 1Y
- 10.73%
- 3Y*
- 6.45%
- 5Y*
- 1.94%
- 10Y*
- —
HY3M.DE vs. JPBM.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% |
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 4.41% | 0.87% | 7.74% | 5.71% | -10.77% | 5.50% | -4.06% | 21.24% | 5.16% |
Correlation
The correlation between HY3M.DE and JPBM.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.47 |
The correlation between HY3M.DE and JPBM.DE has been stable across timeframes, ranging from 0.47 to 0.56 - a consistent structural relationship.
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Return for Risk
HY3M.DE vs. JPBM.DE — Risk / Return Rank
HY3M.DE
JPBM.DE
HY3M.DE vs. JPBM.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 JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.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 | JPBM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 3.48 | -0.37 |
| Martin ratioReturn relative to average drawdown | 9.17 | 9.94 | -0.77 |
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Drawdowns
HY3M.DE vs. JPBM.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum JPBM.DE drawdown of -25.94%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and JPBM.DE.
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Drawdown Indicators
| HY3M.DE | JPBM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -25.94% | +4.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -3.07% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -12.49% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -14.10% | +0.52% |
Current DrawdownCurrent decline from peak | -0.77% | -1.43% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -9.22% | +2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.08% | -0.04% |
Volatility
HY3M.DE vs. JPBM.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.80% compared to JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) (JPBM.DE) at 1.30%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than JPBM.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 | JPBM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.30% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 3.99% | +1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 5.81% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 8.48% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 14.84% | -1.65% |
HY3M.DE vs. JPBM.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than JPBM.DE's 0.39% expense ratio.
Dividends
HY3M.DE vs. JPBM.DE - Dividend Comparison
HY3M.DE has not paid dividends to shareholders, while JPBM.DE's dividend yield for the trailing twelve months is around 5.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JPBM.DE JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF - USD (Dist) | 5.80% | 6.24% | 5.67% | 5.42% | 5.58% | 3.96% | 4.40% | 4.40% | 4.04% |
Frequently Asked Questions
HY3M.DE and JPBM.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPBM.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPBM.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 JPBM.DE tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: VanEck and JPMorgan. Their fees differ too: 0.40% for HY3M.DE and 0.39% for JPBM.DE.
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