HY3M.DE vs. XUEE.DE
HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) and XUEE.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged) are both Emerging Markets Bonds funds - HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index while XUEE.DE tracks the FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). Both are passively managed. Over the past 3 years, HY3M.DE returned 9.20%/yr vs 6.58%/yr for XUEE.DE. At a correlation of -0.05, they often move in opposite directions. Both charge a 0.40% expense ratio.
Performance
HY3M.DE vs. XUEE.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 XUEE.DE's 1.22% 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*
- —
XUEE.DE
- 1D
- 0.00%
- 1M
- -0.92%
- 6M
- 1.14%
- YTD
- 1.22%
- 1Y
- 8.07%
- 3Y*
- 6.58%
- 5Y*
- —
- 10Y*
- —
HY3M.DE vs. XUEE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 2.08% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 1.22% | 11.07% | 3.86% | 8.04% | -21.68% | 0.04% |
Correlation
The correlation between HY3M.DE and XUEE.DE is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021 | -0.05 |
The correlation between HY3M.DE and XUEE.DE shifts across timeframes, from -0.20 (1 year) to -0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HY3M.DE vs. XUEE.DE — Risk / Return Rank
HY3M.DE
XUEE.DE
HY3M.DE vs. XUEE.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 Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.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 | XUEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 1.95 | +1.16 |
| Martin ratioReturn relative to average drawdown | 9.17 | 7.79 | +1.38 |
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Drawdowns
HY3M.DE vs. XUEE.DE - Drawdown Comparison
The maximum HY3M.DE drawdown since its inception was -21.08%, smaller than the maximum XUEE.DE drawdown of -30.69%. Use the drawdown chart below to compare losses from any high point for HY3M.DE and XUEE.DE.
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Drawdown Indicators
| HY3M.DE | XUEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.08% | -30.69% | +9.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.08% | -4.13% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -12.09% | -8.48% | -3.61% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | — | — |
Current DrawdownCurrent decline from peak | -0.77% | -2.89% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -7.04% | -14.15% | +7.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.03% | +0.01% |
Volatility
HY3M.DE vs. XUEE.DE - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a higher volatility of 1.80% compared to Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged (XUEE.DE) at 1.18%. This indicates that HY3M.DE's price experiences larger fluctuations and is considered to be riskier than XUEE.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 | XUEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.80% | 1.18% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 5.09% | 4.24% | +0.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 5.18% | +1.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.60% | 9.05% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.19% | 9.05% | +4.14% |
HY3M.DE vs. XUEE.DE - Expense Ratio Comparison
Both HY3M.DE and XUEE.DE have an expense ratio of 0.40%.
Dividends
HY3M.DE vs. XUEE.DE - Dividend Comparison
HY3M.DE has not paid dividends to shareholders, while XUEE.DE's dividend yield for the trailing twelve months is around 5.03%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEE.DE Xtrackers II USD Emerging Markets Bond UCITS ETF EUR Hedged | 5.03% | 5.41% | 6.51% | 4.80% | 4.74% |
Frequently Asked Questions
HY3M.DE and XUEE.DE have a correlation of -0.20, 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 XUEE.DE have the same expense ratio: 0.40% per year.
HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while XUEE.DE tracks FTSE Emerging Markets USD Government and Government-Related Bond Select (EUR Hedged). They also come from different issuers: VanEck and Xtrackers.
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