HYEM.L vs. HYEA.L
HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) and HYEA.L (iShares Global High Yield Corporate Bond UCITS ETF) are both High Yield Bonds funds - HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF while HYEA.L tracks the ICE BofA Gbl HY Constnd TR USD. Both are passively managed. Over the past 5 years, HYEM.L returned 2.69%/yr vs 3.07%/yr for HYEA.L. At a 0.30 correlation, their price movements are largely independent. HYEM.L charges 0.40%/yr vs 0.50%/yr for HYEA.L.
Performance
HYEM.L vs. HYEA.L - Performance Comparison
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Different Trading Currencies
HYEM.L is traded in USD, while HYEA.L is traded in EUR. To make them comparable, the HYEA.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HYEM.L achieves a 3.15% return, which is significantly higher than HYEA.L's 0.20% 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*
- —
HYEA.L
- 1D
- 0.00%
- 1M
- -0.56%
- 6M
- 0.41%
- YTD
- 0.20%
- 1Y
- 4.09%
- 3Y*
- 7.58%
- 5Y*
- 3.07%
- 10Y*
- —
HYEM.L vs. HYEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.15% | 8.98% | 11.89% | 7.56% | -12.87% | -0.65% | 5.46% | 14.61% | -1.96% |
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 0.20% | 15.17% | 2.47% | 12.66% | -12.07% | 0.88% | 6.94% | 11.93% | -4.24% |
Correlation
The correlation between HYEM.L and HYEA.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.30 |
The correlation between HYEM.L and HYEA.L shifts across timeframes, from 0.18 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYEM.L vs. HYEA.L — Risk / Return Rank
HYEM.L
HYEA.L
HYEM.L vs. HYEA.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 Global High Yield Corporate Bond UCITS ETF (HYEA.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 | HYEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.13 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 0.86 | +1.68 |
| Martin ratioReturn relative to average drawdown | 9.53 | 2.67 | +6.86 |
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Drawdowns
HYEM.L vs. HYEA.L - Drawdown Comparison
The maximum HYEM.L drawdown since its inception was -27.28%, smaller than the maximum HYEA.L drawdown of -30.15%. Use the drawdown chart below to compare losses from any high point for HYEM.L and HYEA.L.
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Drawdown Indicators
| HYEM.L | HYEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -30.15% | +2.87% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -4.79% | +1.85% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -4.90% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | -22.62% | -4.66% |
Current DrawdownCurrent decline from peak | -0.78% | -1.74% | +0.96% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -8.30% | +3.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 1.54% | -0.76% |
Volatility
HYEM.L vs. HYEA.L - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) and iShares Global High Yield Corporate Bond UCITS ETF (HYEA.L) have volatilities of 1.28% and 1.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM.L | HYEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.29% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 4.07% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 5.68% | -0.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.98% | 8.13% | -1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.24% | 10.07% | -2.83% |
HYEM.L vs. HYEA.L - Expense Ratio Comparison
HYEM.L has a 0.40% expense ratio, which is lower than HYEA.L's 0.50% expense ratio.
Dividends
HYEM.L vs. HYEA.L - Dividend Comparison
Neither HYEM.L nor HYEA.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYEA.L iShares Global High Yield Corporate Bond UCITS ETF | 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 HYEA.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYEM.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEM.L is cheaper with a 0.40% expense ratio, compared with 0.50% for HYEA.L.
HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF, while HYEA.L tracks ICE BofA Gbl HY Constnd TR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM.L and 0.50% for HYEA.L.
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