HYDB vs. EMCB
HYDB (iShares High Yield Bond Factor ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both exchange-traded funds - HYDB is a High Yield Bonds fund tracking the BlackRock High Yield Defensive Bond Index, while EMCB is a Emerging Markets Bonds fund actively managed by WisdomTree. HYDB is passively managed, while EMCB is actively managed. Over the past 5 years, HYDB returned 4.67%/yr vs 2.17%/yr for EMCB. At a 0.34 correlation, their price movements are largely independent. HYDB charges 0.35%/yr vs 0.60%/yr for EMCB.
Performance
HYDB vs. EMCB - Performance Comparison
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Returns By Period
In the year-to-date period, HYDB achieves a 1.32% return, which is significantly lower than EMCB's 2.03% return.
HYDB
- 1D
- -0.21%
- 1M
- 0.39%
- YTD
- 1.32%
- 6M
- 1.87%
- 1Y
- 7.20%
- 3Y*
- 9.11%
- 5Y*
- 4.67%
- 10Y*
- —
EMCB
- 1D
- 0.09%
- 1M
- 0.53%
- YTD
- 2.03%
- 6M
- 2.01%
- 1Y
- 7.19%
- 3Y*
- 7.97%
- 5Y*
- 2.17%
- 10Y*
- 4.20%
HYDB vs. EMCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 1.32% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 2.03% | 8.19% | 7.11% | 8.76% | -12.98% | -0.62% | 8.60% | 13.43% | -3.07% | 4.07% |
Correlation
The correlation between HYDB and EMCB is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2017 | 0.34 |
The correlation between HYDB and EMCB shifts across timeframes, from 0.34 (all time) to 0.44 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYDB vs. EMCB — Risk / Return Rank
HYDB
EMCB
HYDB vs. EMCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares High Yield Bond Factor ETF (HYDB) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.
| HYDB | EMCB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.91 | 1.75 | +0.16 |
Sortino ratioReturn per unit of downside risk | 2.88 | 2.51 | +0.37 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 2.55 | 2.36 | +0.20 |
Martin ratioReturn relative to average drawdown | 11.30 | 8.34 | +2.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HYDB | EMCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.91 | 1.75 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.31 | +0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.46 | +0.25 |
Drawdowns
HYDB vs. EMCB - Drawdown Comparison
The maximum HYDB drawdown since its inception was -21.58%, smaller than the maximum EMCB drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for HYDB and EMCB.
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Drawdown Indicators
| HYDB | EMCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.58% | -22.81% | +1.23% |
Max Drawdown (1Y)Largest decline over 1 year | -2.83% | -3.07% | +0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -5.58% | -4.20% | -1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -14.28% | -21.50% | +7.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.81% | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.64% | +0.43% |
Average DrawdownAverage peak-to-trough decline | -2.39% | -4.23% | +1.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.86% | -0.22% |
Volatility
HYDB vs. EMCB - Volatility Comparison
The current volatility for iShares High Yield Bond Factor ETF (HYDB) is 1.13%, while WisdomTree Emerging Markets Corporate Bond Fund (EMCB) has a volatility of 1.55%. This indicates that HYDB experiences smaller price fluctuations and is considered to be less risky than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYDB | EMCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.13% | 1.55% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 2.93% | 2.89% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 4.16% | -0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.04% | 6.94% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.76% | 8.48% | -0.72% |
HYDB vs. EMCB - Expense Ratio Comparison
HYDB has a 0.35% expense ratio, which is lower than EMCB's 0.60% expense ratio.
Dividends
HYDB vs. EMCB - Dividend Comparison
HYDB's dividend yield for the trailing twelve months is around 7.00%, more than EMCB's 5.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCB WisdomTree Emerging Markets Corporate Bond Fund | 5.35% | 5.47% | 5.29% | 5.09% | 4.04% | 3.43% | 3.85% | 4.17% | 4.20% | 4.04% | 4.08% | 5.09% |
HYDB iShares High Yield Bond Factor ETF | 7.00% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 0.00% | 0.00% |
Frequently Asked Questions
HYDB and EMCB have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMCB has higher volatility (1.55%) compared to HYDB (1.13%). In terms of maximum drawdown, HYDB dropped -21.58% vs EMCB's -22.81%.
On 5-year performance, HYDB leads with 4.67% vs 2.17% for EMCB. On fees, HYDB is cheaper at 0.35% per year. On volatility, HYDB has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYDB has performed better with a 4.67% return vs 2.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDB is cheaper with a 0.35% expense ratio, compared with 0.60% for EMCB.
HYDB has the higher dividend yield at 7.00%, compared with 5.35% for EMCB.
HYDB is categorized as High Yield Bonds, while EMCB is Emerging Markets Bonds. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.35% for HYDB and 0.60% for EMCB.
HYDB currently has the higher Sharpe Ratio (1.91 vs 1.75), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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