HYEM.L vs. SDHY.L
HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) and SDHY.L ( iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist) are both High Yield Bonds funds - HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF while SDHY.L tracks the Markit iBoxx USD Liquid High Yield 0-5 Capped Index. Both are passively managed. Over the past 5 years, HYEM.L returned 2.69%/yr vs 4.65%/yr for SDHY.L. At a 0.35 correlation, their price movements are largely independent. HYEM.L charges 0.40%/yr vs 0.45%/yr for SDHY.L.
Performance
HYEM.L vs. SDHY.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 SDHY.L's 2.01% 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*
- —
SDHY.L
- 1D
- 0.30%
- 1M
- 0.14%
- 6M
- 1.88%
- YTD
- 2.01%
- 1Y
- 6.41%
- 3Y*
- 7.37%
- 5Y*
- 4.65%
- 10Y*
- 4.76%
HYEM.L vs. SDHY.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% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 2.01% | 8.90% | 6.50% | 8.75% | -3.27% | 3.42% | 4.07% | 9.61% | 0.14% |
Correlation
The correlation between HYEM.L and SDHY.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.35 |
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Return for Risk
HYEM.L vs. SDHY.L — Risk / Return Rank
HYEM.L
SDHY.L
HYEM.L vs. SDHY.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 $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.35 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 3.49 | -0.96 |
| Martin ratioReturn relative to average drawdown | 9.53 | 15.20 | -5.67 |
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Drawdowns
HYEM.L vs. SDHY.L - Drawdown Comparison
The maximum HYEM.L drawdown since its inception was -27.28%, which is greater than SDHY.L's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for HYEM.L and SDHY.L.
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Drawdown Indicators
| HYEM.L | SDHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.28% | -18.94% | -8.34% |
Max Drawdown (1Y)Largest decline over 1 year | -2.94% | -1.83% | -1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -4.27% | -4.51% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | -8.41% | -18.87% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.94% | — |
Current DrawdownCurrent decline from peak | -0.78% | -0.03% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -5.09% | -1.27% | -3.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.42% | +0.36% |
Volatility
HYEM.L vs. SDHY.L - Volatility Comparison
VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) has a higher volatility of 1.28% compared to iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist (SDHY.L) at 1.01%. This indicates that HYEM.L's price experiences larger fluctuations and is considered to be riskier than SDHY.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 | SDHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.28% | 1.01% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 4.14% | 2.82% | +1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.96% | 3.46% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.98% | 5.47% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.24% | 6.29% | +0.95% |
HYEM.L vs. SDHY.L - Expense Ratio Comparison
HYEM.L has a 0.40% expense ratio, which is lower than SDHY.L's 0.45% expense ratio.
Dividends
HYEM.L vs. SDHY.L - Dividend Comparison
HYEM.L has not paid dividends to shareholders, while SDHY.L's dividend yield for the trailing twelve months is around 6.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SDHY.L iShares $ Short Duration High Yield Corp Bond UCITS ETF USD Dist | 6.73% | 6.59% | 6.41% | 5.64% | 4.31% | 4.24% | 4.80% | 5.26% | 5.48% | 5.42% | 5.68% | 5.05% |
Frequently Asked Questions
HYEM.L and SDHY.L have a correlation of 0.28, 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 0.45% for SDHY.L.
HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF, while SDHY.L tracks Markit iBoxx USD Liquid High Yield 0-5 Capped Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM.L and 0.45% for SDHY.L.
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