HYEM vs. HYDB
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and HYDB (iShares High Yield Bond Factor ETF) are both High Yield Bonds funds - HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index while HYDB tracks the BlackRock High Yield Defensive Bond Index. Both are passively managed. Over the past 5 years, HYEM returned 2.95%/yr vs 4.57%/yr for HYDB. At a 0.47 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.35%/yr for HYDB.
Performance
HYEM vs. HYDB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HYEM achieves a 4.28% return, which is significantly higher than HYDB's 1.47% 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%
HYDB
- 1D
- -0.11%
- 1M
- 0.41%
- YTD
- 1.47%
- 6M
- 1.60%
- 1Y
- 6.31%
- 3Y*
- 9.35%
- 5Y*
- 4.57%
- 10Y*
- —
HYEM vs. HYDB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.28% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 3.02% |
HYDB iShares High Yield Bond Factor ETF | 1.47% | 8.10% | 9.11% | 14.02% | -9.99% | 5.14% | 7.39% | 16.13% | -3.18% | 3.38% |
Correlation
The correlation between HYEM and HYDB is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2017 | 0.47 |
The correlation between HYEM and HYDB shifts across timeframes, from 0.47 (all time) to 0.58 (5 years), 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 vs. HYDB — Risk / Return Rank
HYEM
HYDB
HYEM vs. HYDB - 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 High Yield Bond Factor ETF (HYDB). 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 | HYDB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 2.24 | +1.26 |
| Martin ratioReturn relative to average drawdown | 14.23 | 9.85 | +4.37 |
Loading charts...
Drawdowns
HYEM vs. HYDB - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, which is greater than HYDB's maximum drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for HYEM and HYDB.
Loading charts...
Drawdown Indicators
| HYEM | HYDB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -21.58% | -9.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -2.83% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -5.58% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -14.28% | -12.01% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | — | — |
Current DrawdownCurrent decline from peak | -0.20% | -0.31% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -2.38% | -2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.64% | +0.03% |
Volatility
HYEM vs. HYDB - Volatility Comparison
VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a higher volatility of 1.14% compared to iShares High Yield Bond Factor ETF (HYDB) at 1.06%. This indicates that HYEM's price experiences larger fluctuations and is considered to be riskier than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HYEM | HYDB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.06% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 3.02% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 3.84% | +0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 7.05% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 7.74% | +1.53% |
HYEM vs. HYDB - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than HYDB's 0.35% expense ratio.
Dividends
HYEM vs. HYDB - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.50%, less than HYDB's 6.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYDB iShares High Yield Bond Factor ETF | 6.99% | 7.04% | 6.95% | 7.00% | 6.30% | 4.70% | 5.81% | 5.68% | 6.16% | 2.70% | 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 HYDB have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.14%) compared to HYDB (1.06%). In terms of maximum drawdown, HYEM dropped -30.96% vs HYDB's -21.58%.
On 5-year performance, HYDB leads with 4.57% vs 2.95% for HYEM. On fees, HYDB is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HYDB has performed better with a 4.57% return vs 2.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYDB is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.
HYDB has the higher dividend yield at 6.99%, compared with 6.50% for HYEM.
HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while HYDB tracks BlackRock High Yield Defensive Bond Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM and 0.35% for HYDB.
HYEM currently has the higher Sharpe Ratio (2.17 vs 1.65), 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.
Find the right allocation for HYEM and HYDB
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