HYEM vs. BIZD

Last updated Jun 3, 2026

HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and BIZD (VanEck BDC Income 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 BIZD is a Financials Equities fund tracking the MVIS US Business Development Companies Index. Both are passively managed. Over the past 10 years, HYEM returned 4.66%/yr vs 8.02%/yr for BIZD. At a 0.29 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.42%/yr for BIZD.

Performance

HYEM vs. BIZD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) and VanEck BDC Income ETF (BIZD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYEM achieves a 4.02% return, which is significantly higher than BIZD's -6.86% return. Over the past 10 years, HYEM has underperformed BIZD with an annualized return of 4.66%, while BIZD has yielded a comparatively higher 8.02% annualized return.

HYEM

• 1D: 0.05%
• 1M: 0.96%
• YTD: 4.02%
• 6M: 4.56%
• 1Y: 10.47%
• 3Y*: 11.04%
• 5Y*: 3.09%
• 10Y*: 4.66%

BIZD

• 1D: -0.70%
• 1M: -4.36%
• YTD: -6.86%
• 6M: -6.58%
• 1Y: -10.35%
• 3Y*: 6.08%
• 5Y*: 4.54%
• 10Y*: 8.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYEM vs. BIZD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF	4.02%	9.24%	12.14%	8.35%	-13.39%	-1.31%	6.87%	12.85%	-3.38%	7.94%
BIZD VanEck BDC Income ETF	-6.86%	-4.96%	15.63%	27.02%	-8.51%	36.25%	-7.12%	30.87%	-6.88%	0.36%

Correlation

The correlation between HYEM and BIZD is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Feb 13, 2013	0.29

The correlation between HYEM and BIZD shifts across timeframes, from 0.19 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.

HYEM vs. BIZD - Sectors Allocation Comparison

Sectors	HYEM	BIZD
Industrials	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.0%
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HYEM vs. BIZD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYEM

HYEM Risk / Return Rank: 77
HYEM Sharpe Ratio Rank: 74
HYEM Sortino Ratio Rank: 78
HYEM Omega Ratio Rank: 80
HYEM Calmar Ratio Rank: 75
HYEM Martin Ratio Rank: 79

BIZD

BIZD Risk / Return Rank: 4
BIZD Sharpe Ratio Rank: 4
BIZD Sortino Ratio Rank: 4
BIZD Omega Ratio Rank: 4
BIZD Calmar Ratio Rank: 4
BIZD Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYEM vs. BIZD - 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 VanEck BDC Income ETF (BIZD). 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.

	HYEM	BIZD	Difference
Sharpe ratio Return per unit of total volatility	2.43	-0.58	+3.01
Sortino ratio Return per unit of downside risk	3.55	-0.72	+4.27
Omega ratio Gain probability vs. loss probability	1.48	0.92	+0.56
Calmar ratio Return relative to maximum drawdown	3.84	-0.50	+4.34
Martin ratio Return relative to average drawdown	15.70	-0.88	+16.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HYEM vs. BIZD - Sharpe Ratio Comparison

The current HYEM Sharpe Ratio is 2.43, which is higher than the BIZD Sharpe Ratio of -0.58. The chart below compares the historical Sharpe Ratios of HYEM and BIZD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HYEM	BIZD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	-0.58	+3.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.26	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.37	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.31	+0.23

Drawdowns

HYEM vs. BIZD - Drawdown Comparison

The maximum HYEM drawdown since its inception was -30.96%, smaller than the maximum BIZD drawdown of -55.44%. Use the drawdown chart below to compare losses from any high point for HYEM and BIZD.

Drawdown Indicators

	HYEM	BIZD	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	-55.44%	+24.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.73%	-22.22%	+19.49%
Max Drawdown (3Y) Largest decline over 3 years	-5.23%	-22.56%	+17.33%
Max Drawdown (5Y) Largest decline over 5 years	-26.30%	-22.91%	-3.39%
Max Drawdown (10Y) Largest decline over 10 years	-30.96%	-55.44%	+24.48%
Current Drawdown Current decline from peak	0.00%	-17.39%	+17.39%
Average Drawdown Average peak-to-trough decline	-4.40%	-6.71%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	12.58%	-11.91%

Volatility

HYEM vs. BIZD - Volatility Comparison

The current volatility for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) is 1.40%, while VanEck BDC Income ETF (BIZD) has a volatility of 4.33%. This indicates that HYEM experiences smaller price fluctuations and is considered to be less risky than BIZD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYEM	BIZD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	4.33%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	3.24%	14.61%	-11.37%
Volatility (1Y) Calculated over the trailing 1-year period	4.33%	17.99%	-13.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.49%	17.37%	-9.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.28%	21.73%	-12.45%

HYEM vs. BIZD - Expense Ratio Comparison

HYEM has a 0.40% expense ratio, which is lower than BIZD's 0.42% expense ratio.

Dividends

HYEM vs. BIZD - Dividend Comparison

HYEM's dividend yield for the trailing twelve months is around 6.52%, less than BIZD's 13.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIZD VanEck BDC Income ETF	13.56%	11.78%	10.94%	10.96%	11.21%	8.14%	10.39%	9.13%	10.88%	9.13%	8.51%	9.12%
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF	6.52%	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

Can I hold both HYEM and BIZD in my portfolio?

HYEM and BIZD have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYEM or BIZD?

BIZD has higher volatility (4.33%) compared to HYEM (1.40%). In terms of maximum drawdown, HYEM dropped -30.96% vs BIZD's -55.44%.

Which ETF is better, HYEM or BIZD?

On 10-year performance, BIZD leads with 8.02% vs 4.66% for HYEM. On fees, HYEM is cheaper at 0.40% per year. On volatility, HYEM has been the lower-risk option at 1.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYEM or BIZD?

Over the 10-year period, BIZD has performed better with a 8.02% return vs 4.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYEM or BIZD?

HYEM is cheaper with a 0.40% expense ratio, compared with 0.42% for BIZD.

Which ETF pays a higher dividend yield, HYEM or BIZD?

BIZD has the higher dividend yield at 13.56%, compared with 6.52% for HYEM.

What is the main difference between HYEM and BIZD?

HYEM is categorized as High Yield Bonds, while BIZD is Financials Equities. HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while BIZD tracks MVIS US Business Development Companies Index. Their fees differ too: 0.40% for HYEM and 0.42% for BIZD.

Which has better risk-adjusted returns?

HYEM currently has the higher Sharpe Ratio (2.43 vs -0.58), 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.