HYEM vs. IWF
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and IWF (iShares Russell 1000 Growth 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 IWF is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 10 years, HYEM returned 4.72%/yr vs 18.17%/yr for IWF. At a 0.37 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.18%/yr for IWF.
Performance
HYEM vs. IWF - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM achieves a 3.86% return, which is significantly higher than IWF's 2.87% return. Over the past 10 years, HYEM has underperformed IWF with an annualized return of 4.72%, while IWF has yielded a comparatively higher 18.17% annualized return.
HYEM
- 1D
- 0.20%
- 1M
- 0.86%
- YTD
- 3.86%
- 6M
- 4.24%
- 1Y
- 9.18%
- 3Y*
- 10.57%
- 5Y*
- 2.92%
- 10Y*
- 4.72%
IWF
- 1D
- 0.03%
- 1M
- -2.22%
- YTD
- 2.87%
- 6M
- 3.39%
- 1Y
- 20.40%
- 3Y*
- 22.33%
- 5Y*
- 13.90%
- 10Y*
- 18.17%
HYEM vs. IWF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.86% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
IWF iShares Russell 1000 Growth ETF | 2.87% | 18.33% | 33.12% | 42.59% | -29.31% | 27.43% | 38.25% | 35.86% | -1.67% | 29.95% |
Correlation
The correlation between HYEM and IWF is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 14, 2012 | 0.37 |
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Return for Risk
HYEM vs. IWF — Risk / Return Rank
HYEM
IWF
HYEM vs. IWF - 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 Russell 1000 Growth ETF (IWF). 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 | IWF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.21 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 3.44 | 1.16 | +2.28 |
| Martin ratioReturn relative to average drawdown | 14.00 | 3.83 | +10.17 |
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Drawdowns
HYEM vs. IWF - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, smaller than the maximum IWF drawdown of -64.25%. Use the drawdown chart below to compare losses from any high point for HYEM and IWF.
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Drawdown Indicators
| HYEM | IWF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -64.25% | +33.29% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -16.27% | +13.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -23.36% | +18.13% |
Max Drawdown (5Y)Largest decline over 5 years | -26.30% | -32.72% | +6.42% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | -32.72% | +1.76% |
Current DrawdownCurrent decline from peak | -0.15% | -5.56% | +5.41% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -22.06% | +17.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 4.93% | -4.26% |
Volatility
HYEM vs. IWF - Volatility Comparison
The current volatility for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) is 1.31%, while iShares Russell 1000 Growth ETF (IWF) has a volatility of 5.36%. This indicates that HYEM experiences smaller price fluctuations and is considered to be less risky than IWF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | IWF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 5.36% | -4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 12.40% | -9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.36% | 15.95% | -11.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 21.46% | -13.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 21.00% | -11.73% |
HYEM vs. IWF - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than IWF's 0.18% expense ratio.
Dividends
HYEM vs. IWF - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.53%, more than IWF's 0.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.53% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
IWF iShares Russell 1000 Growth ETF | 0.35% | 0.36% | 0.46% | 0.67% | 0.91% | 0.49% | 0.66% | 0.99% | 1.27% | 1.10% | 1.43% | 1.37% |
Frequently Asked Questions
HYEM and IWF have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWF has higher volatility (5.36%) compared to HYEM (1.31%). In terms of maximum drawdown, HYEM dropped -30.96% vs IWF's -64.25%.
On 10-year performance, IWF leads with 18.17% vs 4.72% for HYEM. On fees, IWF is cheaper at 0.18% per year. On volatility, HYEM has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWF has performed better with a 18.17% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWF is cheaper with a 0.18% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.53%, compared with 0.35% for IWF.
HYEM is categorized as High Yield Bonds, while IWF is Large Cap Growth Equities. HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while IWF tracks Russell 1000 Growth Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.40% for HYEM and 0.18% for IWF.
HYEM currently has the higher Sharpe Ratio (2.15 vs 1.19), 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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