HYEM.L vs. HYSD.L
HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) and HYSD.L (iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist)) are both exchange-traded funds - HYEM.L is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while HYSD.L is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 3 years, HYEM.L returned 9.90%/yr vs 9.12%/yr for HYSD.L. At a 0.33 correlation, their price movements are largely independent. HYEM.L charges 0.40%/yr vs 0.22%/yr for HYSD.L.
Performance
HYEM.L vs. HYSD.L - Performance Comparison
Loading charts...
Different Trading Currencies
HYEM.L is traded in USD, while HYSD.L is traded in GBP. To make them comparable, the HYSD.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 3.56% return, which is significantly higher than HYSD.L's 1.91% return.
HYEM.L
- 1D
- -0.01%
- 1M
- -0.27%
- 6M
- 2.87%
- YTD
- 3.56%
- 1Y
- 7.93%
- 3Y*
- 9.90%
- 5Y*
- 2.77%
- 10Y*
- —
HYSD.L
- 1D
- -0.21%
- 1M
- 1.52%
- 6M
- 1.83%
- YTD
- 1.91%
- 1Y
- 5.75%
- 3Y*
- 9.12%
- 5Y*
- —
- 10Y*
- —
HYEM.L vs. HYSD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.56% | 8.98% | 11.89% | 7.56% | 4.23% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 1.91% | 16.41% | 5.80% | 17.64% | -4.06% |
Correlation
The correlation between HYEM.L and HYSD.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2022 | 0.33 |
The correlation between HYEM.L and HYSD.L shifts across timeframes, from 0.22 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HYEM.L vs. HYSD.L — Risk / Return Rank
HYEM.L
HYSD.L
HYEM.L vs. HYSD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L) and iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.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 | HYSD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.12 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.69 | 0.89 | +1.80 |
| Martin ratioReturn relative to average drawdown | 10.12 | 2.30 | +7.82 |
Loading charts...
Drawdowns
HYEM.L vs. HYSD.L - Drawdown Comparison
The maximum HYEM.L drawdown since its inception was -27.28%, which is greater than HYSD.L's maximum drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for HYEM.L and HYSD.L.
Loading charts...
Drawdown Indicators
| HYEM.L | HYSD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -20.02% | -7.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -6.47% | +3.53% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -9.26% | +4.99% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | — | — |
Current DrawdownCurrent decline from peak | -0.39% | -1.59% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -3.24% | -1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 2.49% | -1.71% |
Volatility
HYEM.L vs. HYSD.L - Volatility Comparison
The current volatility for VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L) is 1.12%, while iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) (HYSD.L) has a volatility of 2.10%. This indicates that HYEM.L experiences smaller price fluctuations and is considered to be less risky than HYSD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYEM.L | HYSD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 2.10% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 4.12% | 6.56% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.94% | 8.56% | -3.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.98% | 12.07% | -5.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.23% | 12.07% | -4.84% |
HYEM.L vs. HYSD.L - Expense Ratio Comparison
HYEM.L has a 0.40% expense ratio, which is higher than HYSD.L's 0.22% expense ratio.
Dividends
HYEM.L vs. HYSD.L - Dividend Comparison
HYEM.L has not paid dividends to shareholders, while HYSD.L's dividend yield for the trailing twelve months is around 7.39%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% |
HYSD.L iShares Broad $ High Yield Corp Bond UCITS ETF GBP Hedged (Dist) | 7.39% | 7.39% | 7.39% | 5.61% | 0.00% |
Frequently Asked Questions
HYEM.L and HYSD.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYSD.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYSD.L is cheaper with a 0.22% expense ratio, compared with 0.40% for HYEM.L.
HYEM.L is categorized as Emerging Markets Bonds, while HYSD.L is High Yield Bonds. HYEM.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index, while HYSD.L tracks ICE BofA US High Yield Constrained Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM.L and 0.22% for HYSD.L.
Find the right allocation for HYEM.L and HYSD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer