HYEM vs. IFLN
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and IFLN (Invesco Bloomberg Enhanced Fallen Angels ETF) are both High Yield Bonds funds - HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index while IFLN tracks the Bloomberg US High Yield Enhanced Fallen Angels Index. Both are passively managed. Over the past 10 years, HYEM returned 4.38%/yr vs 4.34%/yr for IFLN. At a 0.45 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.23%/yr for IFLN.
Performance
HYEM vs. IFLN - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM achieves a 4.07% return, which is significantly higher than IFLN's 0.93% return. Both investments have delivered pretty close results over the past 10 years, with HYEM having a 4.38% annualized return and IFLN not far behind at 4.34%.
HYEM
- 1D
- -0.15%
- 1M
- 0.20%
- 6M
- 3.61%
- YTD
- 4.07%
- 1Y
- 8.40%
- 3Y*
- 10.12%
- 5Y*
- 2.95%
- 10Y*
- 4.38%
IFLN
- 1D
- -0.27%
- 1M
- 0.02%
- 6M
- 0.44%
- YTD
- 0.93%
- 1Y
- 5.08%
- 3Y*
- 7.12%
- 5Y*
- 3.43%
- 10Y*
- 4.34%
HYEM vs. IFLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.07% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 0.93% | 8.75% | 5.54% | 11.19% | -8.77% | 3.32% | 5.20% | 13.59% | -2.69% | 5.12% |
Correlation
The correlation between HYEM and IFLN is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 14, 2012 | 0.45 |
The correlation between HYEM and IFLN shifts across timeframes, from 0.45 (all time) to 0.58 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYEM vs. IFLN — Risk / Return Rank
HYEM
IFLN
HYEM vs. IFLN - 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 Invesco Bloomberg Enhanced Fallen Angels ETF (IFLN). 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 | IFLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 1.25 | +1.84 |
| Martin ratioReturn relative to average drawdown | 12.46 | 5.14 | +7.32 |
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Drawdowns
HYEM vs. IFLN - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, smaller than the maximum IFLN drawdown of -44.79%. Use the drawdown chart below to compare losses from any high point for HYEM and IFLN.
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Drawdown Indicators
| HYEM | IFLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -44.79% | +13.83% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -4.08% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -4.08% | -1.15% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -13.76% | -12.53% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | -21.52% | -9.44% |
Current DrawdownCurrent decline from peak | -0.39% | -0.69% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -4.31% | -0.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.99% | -0.31% |
Volatility
HYEM vs. IFLN - Volatility Comparison
VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) and Invesco Bloomberg Enhanced Fallen Angels ETF (IFLN) have volatilities of 1.01% and 0.97%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | IFLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 0.97% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.29% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 3.95% | +0.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 6.38% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 6.86% | +2.41% |
HYEM vs. IFLN - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than IFLN's 0.23% expense ratio.
Dividends
HYEM vs. IFLN - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.75%, more than IFLN's 5.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.75% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 5.87% | 5.48% | 5.69% | 4.68% | 3.52% | 3.37% | 3.90% | 4.03% | 4.44% | 4.14% | 4.58% | 4.69% |
Frequently Asked Questions
HYEM and IFLN have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.01%) compared to IFLN (0.97%). In terms of maximum drawdown, HYEM dropped -30.96% vs IFLN's -44.79%.
On 10-year performance, HYEM leads with 4.38% vs 4.34% for IFLN. On fees, IFLN is cheaper at 0.23% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HYEM has performed better with a 4.38% return vs 4.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IFLN is cheaper with a 0.23% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.75%, compared with 5.87% for IFLN.
HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while IFLN tracks Bloomberg US High Yield Enhanced Fallen Angels Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.40% for HYEM and 0.23% for IFLN.
HYEM currently has the higher Sharpe Ratio (1.92 vs 1.30), 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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