HYGI vs. VWOB
HYGI (iShares Inflation Hedged High Yield Bond ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both exchange-traded funds - HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while VWOB is a Emerging Markets Bonds fund tracking the Bloomberg USD Emerging Markets Government RIC Capped Index. Both are passively managed. A 0.63 correlation means they provide meaningful diversification when combined. HYGI charges 0.52%/yr vs 0.15%/yr for VWOB.
Performance
HYGI vs. VWOB - Performance Comparison
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Returns By Period
HYGI
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWOB
- 1D
- 0.16%
- 1M
- 1.34%
- YTD
- 2.08%
- 6M
- 2.45%
- 1Y
- 10.76%
- 3Y*
- 9.31%
- 5Y*
- 2.01%
- 10Y*
- 3.62%
HYGI vs. VWOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
VWOB Vanguard Emerging Markets Government Bond ETF | 2.08% | 13.49% | 5.20% | 10.68% | 1.68% |
Correlation
The correlation between HYGI and VWOB is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.63 |
Over the past year, the correlation between HYGI and VWOB has dropped to 0.19 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
HYGI vs. VWOB — Risk / Return Rank
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VWOB
HYGI vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Inflation Hedged High Yield Bond ETF (HYGI) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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.
| HYGI | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.29 | — |
| Martin ratioReturn relative to average drawdown | — | 9.66 | — |
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Drawdowns
HYGI vs. VWOB - Drawdown Comparison
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Drawdown Indicators
| HYGI | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -26.98% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.48% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.71% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.98% | — |
Current DrawdownCurrent decline from peak | — | 0.00% | — |
Average DrawdownAverage peak-to-trough decline | — | -4.79% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.06% | — |
Volatility
HYGI vs. VWOB - Volatility Comparison
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Volatility by Period
| HYGI | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.90% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.31% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 5.25% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 9.19% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 9.35% | — |
HYGI vs. VWOB - Expense Ratio Comparison
HYGI has a 0.52% expense ratio, which is higher than VWOB's 0.15% expense ratio.
Dividends
HYGI vs. VWOB - Dividend Comparison
HYGI has not paid dividends to shareholders, while VWOB's dividend yield for the trailing twelve months is around 5.82%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.97% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.82% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
HYGI and VWOB have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWOB is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWOB is cheaper with a 0.15% expense ratio, compared with 0.52% for HYGI.
VWOB has the higher dividend yield at 5.82%, compared with 0.97% for HYGI.
HYGI is categorized as Inflation-Protected Bonds, while VWOB is Emerging Markets Bonds. HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross, while VWOB tracks Bloomberg USD Emerging Markets Government RIC Capped Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.52% for HYGI and 0.15% for VWOB.
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