HYEM vs. YLD
HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) and YLD (Principal Active High Yield ETF) are both High Yield Bonds funds. HYEM is passively managed, while YLD is actively managed. Over the past 10 years, HYEM returned 4.63%/yr vs 5.77%/yr for YLD. At a 0.31 correlation, their price movements are largely independent. HYEM charges 0.40%/yr vs 0.39%/yr for YLD.
Performance
HYEM vs. YLD - Performance Comparison
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Returns By Period
In the year-to-date period, HYEM achieves a 3.97% return, which is significantly higher than YLD's 3.27% return. Over the past 10 years, HYEM has underperformed YLD with an annualized return of 4.63%, while YLD has yielded a comparatively higher 5.77% annualized return.
HYEM
- 1D
- -0.15%
- 1M
- 0.66%
- YTD
- 3.97%
- 6M
- 3.83%
- 1Y
- 8.96%
- 3Y*
- 10.22%
- 5Y*
- 2.91%
- 10Y*
- 4.63%
YLD
- 1D
- -0.10%
- 1M
- 0.37%
- YTD
- 3.27%
- 6M
- 3.18%
- 1Y
- 6.36%
- 3Y*
- 8.97%
- 5Y*
- 4.87%
- 10Y*
- 5.77%
HYEM vs. YLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.97% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
YLD Principal Active High Yield ETF | 3.27% | 6.55% | 9.19% | 12.93% | -8.78% | 9.17% | 1.50% | 13.58% | -3.30% | 9.12% |
Correlation
The correlation between HYEM and YLD 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 | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 9, 2015 | 0.31 |
The correlation between HYEM and YLD shifts across timeframes, from 0.31 (all time) to 0.45 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYEM vs. YLD — Risk / Return Rank
HYEM
YLD
HYEM vs. YLD - 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 Principal Active High Yield ETF (YLD). 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 | YLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.27 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 3.23 | +0.07 |
| Martin ratioReturn relative to average drawdown | 13.39 | 11.06 | +2.33 |
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Drawdowns
HYEM vs. YLD - Drawdown Comparison
The maximum HYEM drawdown since its inception was -30.96%, which is greater than YLD's maximum drawdown of -28.34%. Use the drawdown chart below to compare losses from any high point for HYEM and YLD.
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Drawdown Indicators
| HYEM | YLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -28.34% | -2.62% |
Max Drawdown (1Y)Largest decline over 1 year | -2.73% | -1.98% | -0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -5.23% | -5.62% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -26.29% | -13.89% | -12.40% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | -28.34% | -2.62% |
Current DrawdownCurrent decline from peak | -0.49% | -0.10% | -0.39% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -2.69% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.58% | +0.09% |
Volatility
HYEM vs. YLD - Volatility Comparison
The current volatility for VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) is 1.14%, while Principal Active High Yield ETF (YLD) has a volatility of 1.21%. This indicates that HYEM experiences smaller price fluctuations and is considered to be less risky than YLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYEM | YLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.21% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 3.54% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.40% | 4.41% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.50% | 6.40% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.27% | 8.20% | +1.07% |
HYEM vs. YLD - Expense Ratio Comparison
HYEM has a 0.40% expense ratio, which is higher than YLD's 0.39% expense ratio.
Dividends
HYEM vs. YLD - Dividend Comparison
HYEM's dividend yield for the trailing twelve months is around 6.52%, less than YLD's 7.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.52% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
YLD Principal Active High Yield ETF | 7.24% | 7.33% | 7.12% | 6.46% | 6.51% | 3.92% | 4.40% | 4.81% | 5.42% | 6.28% | 4.47% | 2.56% |
Frequently Asked Questions
HYEM and YLD 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.
YLD has higher volatility (1.21%) compared to HYEM (1.14%). In terms of maximum drawdown, HYEM dropped -30.96% vs YLD's -28.34%.
On 10-year performance, YLD leads with 5.77% vs 4.63% for HYEM. On fees, YLD is cheaper at 0.39% 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, YLD has performed better with a 5.77% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
YLD is cheaper with a 0.39% expense ratio, compared with 0.40% for HYEM.
YLD has the higher dividend yield at 7.24%, compared with 6.52% for HYEM.
They also come from different issuers: VanEck and Principal. Their fees differ too: 0.40% for HYEM and 0.39% for YLD.
HYEM currently has the higher Sharpe Ratio (2.04 vs 1.45), 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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