HYEM vs. IBHH
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and IBHH (iShares iBonds 2028 Term High Yield and Income ETF) are both High Yield Bonds funds - HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index while IBHH tracks the Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, HYEM returned 10.35%/yr vs 8.78%/yr for IBHH. A 0.54 correlation means they provide meaningful diversification when combined. HYEM charges 0.40%/yr vs 0.35%/yr for IBHH.
Performance
HYEM vs. IBHH - 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 IBHH's 1.85% 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%
IBHH
- 1D
- 0.02%
- 1M
- 0.44%
- YTD
- 1.85%
- 6M
- 2.22%
- 1Y
- 5.85%
- 3Y*
- 8.78%
- 5Y*
- —
- 10Y*
- —
HYEM vs. IBHH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.28% | 9.24% | 12.14% | 8.35% | -1.21% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 1.85% | 8.02% | 7.53% | 12.87% | -6.70% |
Correlation
The correlation between HYEM and IBHH is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2022 | 0.54 |
The correlation between HYEM and IBHH has been stable across timeframes, ranging from 0.44 to 0.54 - a consistent structural relationship.
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Return for Risk
HYEM vs. IBHH — Risk / Return Rank
HYEM
IBHH
HYEM vs. IBHH - 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 iBonds 2028 Term High Yield and Income ETF (IBHH). 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 | IBHH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.40 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 4.80 | -1.30 |
| Martin ratioReturn relative to average drawdown | 14.23 | 19.19 | -4.96 |
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Drawdowns
HYEM vs. IBHH - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, which is greater than IBHH's maximum drawdown of -12.05%. Use the drawdown chart below to compare losses from any high point for HYEM and IBHH.
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Drawdown Indicators
| HYEM | IBHH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -12.05% | -18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -1.22% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -4.66% | -0.57% |
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% | -0.06% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -2.27% | -2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.31% | +0.36% |
Volatility
HYEM vs. IBHH - Volatility Comparison
VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a higher volatility of 1.14% compared to iShares iBonds 2028 Term High Yield and Income ETF (IBHH) at 0.69%. This indicates that HYEM's price experiences larger fluctuations and is considered to be riskier than IBHH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | IBHH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.69% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | 2.11% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 2.79% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 7.22% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 7.22% | +2.05% |
HYEM vs. IBHH - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than IBHH's 0.35% expense ratio.
Dividends
HYEM vs. IBHH - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.50%, more than IBHH's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 6.25% | 6.39% | 6.93% | 6.65% | 5.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYEM and IBHH have a correlation of 0.44, 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 IBHH (0.69%). In terms of maximum drawdown, HYEM dropped -30.96% vs IBHH's -12.05%.
On 3-year performance, HYEM leads with 10.35% vs 8.78% for IBHH. On fees, IBHH is cheaper at 0.35% per year. On volatility, IBHH has been the lower-risk option at 0.69%. 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 8.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHH is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.50%, compared with 6.25% for IBHH.
HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while IBHH tracks Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM and 0.35% for IBHH.
HYEM currently has the higher Sharpe Ratio (2.17 vs 2.10), 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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