HYEM vs. SBIT
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and SBIT (Proshares Ultrashort Bitcoin 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 SBIT is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index (-200%). Both are passively managed. Over the past year, HYEM returned 8.40% vs 124.12% for SBIT. At a correlation of -0.30, they often move in opposite directions. HYEM charges 0.40%/yr vs 0.95%/yr for SBIT.
Performance
HYEM vs. SBIT - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM achieves a 4.07% return, which is significantly lower than SBIT's 44.00% return.
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%
SBIT
- 1D
- 5.38%
- 1M
- 1.44%
- 6M
- 58.27%
- YTD
- 44.00%
- 1Y
- 124.12%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HYEM vs. SBIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 4.07% | 9.24% | 8.83% |
SBIT Proshares Ultrashort Bitcoin ETF | 44.00% | -25.11% | -73.74% |
Correlation
The correlation between HYEM and SBIT is -0.35, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.35 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.30 |
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Return for Risk
HYEM vs. SBIT — Risk / Return Rank
HYEM
SBIT
HYEM vs. SBIT - 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 Proshares Ultrashort Bitcoin ETF (SBIT). 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 | SBIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.50 | ||
| Sortino ratioReturn per unit of downside risk | +0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 2.60 | +0.49 |
| Martin ratioReturn relative to average drawdown | 12.46 | 5.92 | +6.53 |
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Drawdowns
HYEM vs. SBIT - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, smaller than the maximum SBIT drawdown of -91.35%. Use the drawdown chart below to compare losses from any high point for HYEM and SBIT.
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Drawdown Indicators
| HYEM | SBIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -91.35% | +60.39% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -47.94% | +45.21% |
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 | -0.39% | -77.15% | +76.76% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -68.83% | +64.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 21.04% | -20.36% |
Volatility
HYEM vs. SBIT - Volatility Comparison
The current volatility for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) is 1.01%, while Proshares Ultrashort Bitcoin ETF (SBIT) has a volatility of 22.98%. This indicates that HYEM experiences smaller price fluctuations and is considered to be less risky than SBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | SBIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 22.98% | -21.97% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 68.89% | -65.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.41% | 88.51% | -84.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 96.89% | -89.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 96.89% | -87.62% |
HYEM vs. SBIT - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is lower than SBIT's 0.95% expense ratio.
Dividends
HYEM vs. SBIT - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.75%, more than SBIT's 3.97% 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% |
SBIT Proshares Ultrashort Bitcoin ETF | 3.97% | 0.52% | 1.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HYEM and SBIT have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SBIT has higher volatility (22.98%) compared to HYEM (1.01%). In terms of maximum drawdown, HYEM dropped -30.96% vs SBIT's -91.35%.
On 1-year performance, SBIT leads with 124.12% vs 8.40% for HYEM. On fees, HYEM is cheaper at 0.40% per year. On volatility, HYEM has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SBIT has performed better with a 124.12% return vs 8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYEM is cheaper with a 0.40% expense ratio, compared with 0.95% for SBIT.
HYEM has the higher dividend yield at 6.75%, compared with 3.97% for SBIT.
HYEM is categorized as High Yield Bonds, while SBIT is Cryptocurrency. HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index, while SBIT tracks Bloomberg Bitcoin Index (-200%). They also come from different issuers: VanEck and ProShares. Their fees differ too: 0.40% for HYEM and 0.95% for SBIT.
HYEM currently has the higher Sharpe Ratio (1.92 vs 1.41), 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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