HY3M.DE vs. UEFS.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign 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 UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. Both are passively managed. Over the past 5 years, HY3M.DE returned 3.37%/yr vs 2.96%/yr for UEFS.DE. At a 0.48 correlation, their price movements are largely independent. HY3M.DE charges 0.40%/yr vs 0.25%/yr for UEFS.DE.
Performance
HY3M.DE vs. UEFS.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 UEFS.DE's 5.74% 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*
- —
UEFS.DE
- 1D
- 0.12%
- 1M
- 0.96%
- 6M
- 4.73%
- YTD
- 5.74%
- 1Y
- 13.72%
- 3Y*
- 9.67%
- 5Y*
- 2.96%
- 10Y*
- 3.04%
HY3M.DE vs. UEFS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 5.74% | 2.26% | 13.85% | 8.27% | -14.71% | 5.65% | -4.63% | 17.08% | 4.91% |
Correlation
The correlation between HY3M.DE and UEFS.DE is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.48 |
The correlation between HY3M.DE and UEFS.DE has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.
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Return for Risk
HY3M.DE vs. UEFS.DE — Risk / Return Rank
HY3M.DE
UEFS.DE
HY3M.DE vs. UEFS.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 UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.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 | UEFS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.43 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.41 | 4.67 | -1.26 |
| Martin ratioReturn relative to average drawdown | 10.01 | 14.28 | -4.28 |
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Drawdowns
HY3M.DE vs. UEFS.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum UEFS.DE drawdown of -24.33%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and UEFS.DE.
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Drawdown Indicators
| HY3M.DE | UEFS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -24.33% | +3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -2.92% | -0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -13.71% | +1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | -17.81% | +4.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.33% | — |
Current DrawdownCurrent decline from peak | -1.17% | -0.94% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -8.98% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.96% | +0.09% |
Volatility
HY3M.DE vs. UEFS.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.97% compared to UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) at 1.56%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than UEFS.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 | UEFS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 1.56% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 5.14% | 3.81% | +1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.85% | 6.19% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.61% | 8.73% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.20% | 12.92% | +0.28% |
HY3M.DE vs. UEFS.DE - Expense Ratio Comparison
HY3M.DE has a 0.40% expense ratio, which is higher than UEFS.DE's 0.25% expense ratio.
Dividends
HY3M.DE vs. UEFS.DE - Dividend Comparison
HY3M.DE has not paid dividends to shareholders, while UEFS.DE's dividend yield for the trailing twelve months is around 6.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.39% | 7.97% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
HY3M.DE and UEFS.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFS.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for HY3M.DE.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped. They also come from different issuers: VanEck and UBS. Their fees differ too: 0.40% for HY3M.DE and 0.25% for UEFS.DE.
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