HYEM.L vs. DHYA.L
HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) and DHYA.L (iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc)) are both High Yield Bonds funds - HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF while DHYA.L tracks the Bloomberg US Corporate High Yield TR USD. Both are passively managed. Over the past 5 years, HYEM.L returned 2.69%/yr vs 3.56%/yr for DHYA.L. At a 0.34 correlation, their price movements are largely independent. HYEM.L charges 0.40%/yr vs 0.25%/yr for DHYA.L.
Performance
HYEM.L vs. DHYA.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM.L achieves a 3.15% return, which is significantly higher than DHYA.L's 1.68% return.
HYEM.L
- 1D
- -0.36%
- 1M
- -0.68%
- 6M
- 2.60%
- YTD
- 3.15%
- 1Y
- 7.88%
- 3Y*
- 9.82%
- 5Y*
- 2.69%
- 10Y*
- —
DHYA.L
- 1D
- 0.00%
- 1M
- -0.30%
- 6M
- 1.37%
- YTD
- 1.68%
- 1Y
- 5.89%
- 3Y*
- 8.20%
- 5Y*
- 3.56%
- 10Y*
- —
HYEM.L vs. DHYA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.15% | 8.98% | 11.89% | 7.56% | -12.87% | -0.65% | 18.66% |
DHYA.L iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) | 1.68% | 8.46% | 8.26% | 12.33% | -12.01% | 3.82% | 14.71% |
Correlation
The correlation between HYEM.L and DHYA.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since May 4, 2020 | 0.34 |
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Return for Risk
HYEM.L vs. DHYA.L — Risk / Return Rank
HYEM.L
DHYA.L
HYEM.L vs. DHYA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) and iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.L). 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.
| HYEM.L | DHYA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.27 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.27 | +0.26 |
| Martin ratioReturn relative to average drawdown | 9.53 | 9.92 | -0.40 |
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Drawdowns
HYEM.L vs. DHYA.L - Drawdown Comparison
The maximum HYEM.L drawdown since its inception was -27.28%, which is greater than DHYA.L's maximum drawdown of -16.29%. Use the drawdown chart below to compare losses from any high point for HYEM.L and DHYA.L.
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Drawdown Indicators
| HYEM.L | DHYA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -16.29% | -10.99% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -2.58% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -5.20% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | -16.29% | -10.99% |
Current DrawdownCurrent decline from peak | -0.78% | -0.45% | -0.33% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -3.47% | -1.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.59% | +0.19% |
Volatility
HYEM.L vs. DHYA.L - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) has a higher volatility of 1.28% compared to iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) (DHYA.L) at 0.90%. This indicates that HYEM.L's price experiences larger fluctuations and is considered to be riskier than DHYA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM.L | DHYA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 0.90% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 3.61% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 4.26% | +0.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.98% | 7.33% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.24% | 7.84% | -0.60% |
HYEM.L vs. DHYA.L - Expense Ratio Comparison
HYEM.L has a 0.40% expense ratio, which is higher than DHYA.L's 0.25% expense ratio.
Dividends
HYEM.L vs. DHYA.L - Dividend Comparison
Neither HYEM.L nor DHYA.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DHYA.L iShares USD High Yield Corporate Bond ESG UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% |
Frequently Asked Questions
HYEM.L and DHYA.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DHYA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DHYA.L is cheaper with a 0.25% expense ratio, compared with 0.40% for HYEM.L.
HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF, while DHYA.L tracks Bloomberg US Corporate High Yield TR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM.L and 0.25% for DHYA.L.
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