HYG vs. EMVL.L
HYG (iShares iBoxx $ High Yield Corporate Bond ETF) and EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) are both exchange-traded funds - HYG is a High Yield Bonds fund tracking the Markit iBoxx USD Liquid High Yield Index, while EMVL.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, HYG returned 3.83%/yr vs 16.74%/yr for EMVL.L. At a 0.40 correlation, their price movements are largely independent. HYG charges 0.49%/yr vs 0.40%/yr for EMVL.L.
Performance
HYG vs. EMVL.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYG achieves a 1.78% return, which is significantly lower than EMVL.L's 45.06% return.
HYG
- 1D
- 0.13%
- 1M
- 1.25%
- YTD
- 1.78%
- 6M
- 2.29%
- 1Y
- 6.95%
- 3Y*
- 8.47%
- 5Y*
- 3.83%
- 10Y*
- 5.03%
EMVL.L
- 1D
- 2.91%
- 1M
- 8.74%
- YTD
- 45.06%
- 6M
- 49.13%
- 1Y
- 82.04%
- 3Y*
- 36.29%
- 5Y*
- 16.74%
- 10Y*
- —
HYG vs. EMVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 1.78% | 8.59% | 7.97% | 11.54% | -10.98% | 3.76% | 4.47% | 14.09% | -2.15% |
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 45.06% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 17.64% | -2.10% |
Correlation
The correlation between HYG and EMVL.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018 | 0.40 |
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Return for Risk
HYG vs. EMVL.L — Risk / Return Rank
HYG
EMVL.L
HYG vs. EMVL.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) and iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L). 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.
| HYG | EMVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.64 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 7.00 | -4.02 |
| Martin ratioReturn relative to average drawdown | 13.11 | 22.34 | -9.23 |
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Drawdowns
HYG vs. EMVL.L - Drawdown Comparison
The maximum HYG drawdown since its inception was -34.25%, roughly equal to the maximum EMVL.L drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for HYG and EMVL.L.
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Drawdown Indicators
| HYG | EMVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.25% | -34.95% | +0.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.34% | -11.65% | +9.31% |
Max Drawdown (3Y)Largest decline over 3 years | -4.56% | -16.42% | +11.86% |
Max Drawdown (5Y)Largest decline over 5 years | -15.79% | -33.55% | +17.76% |
Max Drawdown (10Y)Largest decline over 10 years | -22.03% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.38% | +3.38% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -9.53% | +6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 3.66% | -3.13% |
Volatility
HYG vs. EMVL.L - Volatility Comparison
The current volatility for iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is 1.31%, while iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a volatility of 10.29%. This indicates that HYG experiences smaller price fluctuations and is considered to be less risky than EMVL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYG | EMVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 10.29% | -8.98% |
Volatility (6M)Calculated over the trailing 6-month period | 3.08% | 18.92% | -15.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 21.93% | -18.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.53% | 20.24% | -12.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.29% | 21.19% | -12.90% |
HYG vs. EMVL.L - Expense Ratio Comparison
HYG has a 0.49% expense ratio, which is higher than EMVL.L's 0.40% expense ratio.
Dividends
HYG vs. EMVL.L - Dividend Comparison
HYG's dividend yield for the trailing twelve months is around 5.89%, while EMVL.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.89% | 5.71% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% |
Frequently Asked Questions
HYG and EMVL.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMVL.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMVL.L is cheaper with a 0.40% expense ratio, compared with 0.49% for HYG.
HYG is categorized as High Yield Bonds, while EMVL.L is Emerging Markets Equities. HYG tracks Markit iBoxx USD Liquid High Yield Index, while EMVL.L tracks MSCI EM NR USD. Their fees differ too: 0.49% for HYG and 0.40% for EMVL.L.
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