HYEM vs. MHY
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and MHY (Man Active High Yield ETF) are both High Yield Bonds funds. HYEM is passively managed, while MHY is actively managed. At a 0.44 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.69%/yr for MHY.
Performance
HYEM vs. MHY - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with HYEM having a 4.28% return and MHY slightly lower at 4.09%.
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%
MHY
- 1D
- -0.04%
- 1M
- 1.72%
- YTD
- 4.09%
- 6M
- 4.14%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYEM vs. MHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.28% | 0.73% |
MHY Man Active High Yield ETF | 4.09% | 1.54% |
Correlation
The correlation between HYEM and MHY is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 18, 2025 | 0.44 |
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Return for Risk
HYEM vs. MHY — Risk / Return Rank
HYEM
MHY
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
HYEM vs. MHY - 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 Man Active High Yield ETF (MHY). 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 | MHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.42 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | — | — |
| Martin ratioReturn relative to average drawdown | 14.23 | — | — |
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Drawdowns
HYEM vs. MHY - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, which is greater than MHY's maximum drawdown of -1.58%. Use the drawdown chart below to compare losses from any high point for HYEM and MHY.
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Drawdown Indicators
| HYEM | MHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -1.58% | -29.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | — | — |
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% | -0.04% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -0.29% | -4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | — | — |
Volatility
HYEM vs. MHY - Volatility Comparison
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Volatility by Period
| HYEM | MHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.25% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 2.99% | +1.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.51% | 2.99% | +4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 2.99% | +6.28% |
HYEM vs. MHY - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is lower than MHY's 0.69% expense ratio.
Dividends
HYEM vs. MHY - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.50%, more than MHY's 3.55% 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% |
MHY Man Active High Yield ETF | 3.55% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYEM and MHY 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.
On fees, HYEM is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEM is cheaper with a 0.40% expense ratio, compared with 0.69% for MHY.
HYEM has the higher dividend yield at 6.50%, compared with 3.55% for MHY.
They also come from different issuers: VanEck and Man Group. Their fees differ too: 0.40% for HYEM and 0.69% for MHY.
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