HYEM vs. BEMB
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and BEMB (Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF) are both exchange-traded funds - HYEM is a High Yield Bonds fund tracking the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while BEMB is a Emerging Markets Bonds fund actively managed by iShares. HYEM is passively managed, while BEMB is actively managed. Over the past 3 years, HYEM returned 10.35%/yr vs 8.46%/yr for BEMB. A 0.60 correlation means they provide meaningful diversification when combined. HYEM charges 0.40%/yr vs 0.18%/yr for BEMB.
Performance
HYEM vs. BEMB - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM achieves a 4.28% return, which is significantly higher than BEMB's 1.56% return.
HYEM
- 1D
- -0.15%
- 1M
- 1.26%
- YTD
- 4.28%
- 6M
- 4.29%
- 1Y
- 9.50%
- 3Y*
- 10.35%
- 5Y*
- 2.95%
- 10Y*
- 4.64%
BEMB
- 1D
- -0.11%
- 1M
- 1.20%
- YTD
- 1.56%
- 6M
- 1.82%
- 1Y
- 8.89%
- 3Y*
- 8.46%
- 5Y*
- —
- 10Y*
- —
HYEM vs. BEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.28% | 9.24% | 12.14% | 6.68% |
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 1.56% | 12.27% | 5.51% | 8.88% |
Correlation
The correlation between HYEM and BEMB is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2023 | 0.60 |
The correlation between HYEM and BEMB has been stable across timeframes, ranging from 0.55 to 0.60 - a consistent structural relationship.
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Return for Risk
HYEM vs. BEMB — Risk / Return Rank
HYEM
BEMB
HYEM vs. BEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) and Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB). 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 | BEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.39 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.43 | +1.07 |
| Martin ratioReturn relative to average drawdown | 14.23 | 10.44 | +3.79 |
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Drawdowns
HYEM vs. BEMB - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, which is greater than BEMB's maximum drawdown of -6.17%. Use the drawdown chart below to compare losses from any high point for HYEM and BEMB.
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Drawdown Indicators
| HYEM | BEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -6.17% | -24.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -3.67% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -6.17% | +0.94% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.45% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -0.93% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.85% | -0.18% |
Volatility
HYEM vs. BEMB - Volatility Comparison
The current volatility for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) is 1.14%, while Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) has a volatility of 1.35%. This indicates that HYEM experiences smaller price fluctuations and is considered to be less risky than BEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | BEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.35% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 3.57% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 4.35% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 5.87% | +1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 5.87% | +3.40% |
HYEM vs. BEMB - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than BEMB's 0.18% expense ratio.
Dividends
HYEM vs. BEMB - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.50%, less than BEMB's 6.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 6.86% | 6.88% | 6.31% | 5.46% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.50% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
Frequently Asked Questions
HYEM and BEMB have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BEMB has higher volatility (1.35%) compared to HYEM (1.14%). In terms of maximum drawdown, HYEM dropped -30.96% vs BEMB's -6.17%.
On 3-year performance, HYEM leads with 10.35% vs 8.46% for BEMB. On fees, BEMB is cheaper at 0.18% per year. On volatility, HYEM has been the lower-risk option at 1.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYEM has performed better with a 10.35% return vs 8.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BEMB is cheaper with a 0.18% expense ratio, compared with 0.40% for HYEM.
BEMB has the higher dividend yield at 6.86%, compared with 6.50% for HYEM.
HYEM is categorized as High Yield Bonds, while BEMB is Emerging Markets Bonds. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM and 0.18% for BEMB.
HYEM currently has the higher Sharpe Ratio (2.17 vs 2.06), 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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