HYLD.L vs. HYEM.L
HYLD.L (iShares Global High Yield Corp Bond UCITS ETF) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds - HYLD.L tracks the iShares Global High Yield Corp Bond UCITS ETF while HYEM.L tracks the VanEck Emerging Markets High Yield Bond UCITS ETF. Both are passively managed. Over the past 5 years, HYLD.L returned 3.12%/yr vs 2.69%/yr for HYEM.L. At a 0.36 correlation, their price movements are largely independent. HYLD.L charges 0.50%/yr vs 0.40%/yr for HYEM.L.
Performance
HYLD.L vs. HYEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, HYLD.L achieves a 0.82% return, which is significantly lower than HYEM.L's 3.15% return.
HYLD.L
- 1D
- 0.32%
- 1M
- -0.25%
- 6M
- 0.92%
- YTD
- 0.82%
- 1Y
- 4.53%
- 3Y*
- 7.76%
- 5Y*
- 3.12%
- 10Y*
- 4.32%
HYEM.L
- 1D
- -0.36%
- 1M
- -0.68%
- 6M
- 2.60%
- YTD
- 3.15%
- 1Y
- 7.88%
- 3Y*
- 9.82%
- 5Y*
- 2.69%
- 10Y*
- —
HYLD.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 0.82% | 14.42% | 2.61% | 13.55% | -11.99% | -0.90% | 8.32% | 11.99% | -4.29% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.15% | 8.98% | 11.89% | 7.56% | -12.87% | -0.65% | 5.46% | 14.61% | -1.96% |
Correlation
The correlation between HYLD.L and HYEM.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.36 |
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Return for Risk
HYLD.L vs. HYEM.L — Risk / Return Rank
HYLD.L
HYEM.L
HYLD.L vs. HYEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.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.
| HYLD.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.34 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | 2.53 | -1.55 |
| Martin ratioReturn relative to average drawdown | 3.26 | 9.53 | -6.26 |
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Drawdowns
HYLD.L vs. HYEM.L - Drawdown Comparison
The maximum HYLD.L drawdown since its inception was -23.53%, smaller than the maximum HYEM.L drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for HYLD.L and HYEM.L.
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Drawdown Indicators
| HYLD.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.53% | -27.28% | +3.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.21% | -2.94% | -1.27% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -4.27% | -1.09% |
Max Drawdown (5Y)Largest decline over 5 years | -22.52% | -27.28% | +4.76% |
Max Drawdown (10Y)Largest decline over 10 years | -23.53% | — | — |
Current DrawdownCurrent decline from peak | -0.82% | -0.78% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -5.09% | +1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 0.78% | +0.49% |
Volatility
HYLD.L vs. HYEM.L - Volatility Comparison
iShares Global High Yield Corp Bond UCITS ETF (HYLD.L) has a higher volatility of 1.35% compared to VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) at 1.28%. This indicates that HYLD.L's price experiences larger fluctuations and is considered to be riskier than HYEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLD.L | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 1.28% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 4.14% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 4.96% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.31% | 6.98% | +1.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.57% | 7.24% | +1.33% |
HYLD.L vs. HYEM.L - Expense Ratio Comparison
HYLD.L has a 0.50% expense ratio, which is higher than HYEM.L's 0.40% expense ratio.
Dividends
HYLD.L vs. HYEM.L - Dividend Comparison
HYLD.L's dividend yield for the trailing twelve months is around 7.08%, while HYEM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYLD.L iShares Global High Yield Corp Bond UCITS ETF | 7.08% | 5.32% | 5.61% | 4.70% | 4.01% | 3.95% | 4.42% | 4.77% | 4.98% | 4.73% | 5.08% | 5.31% |
Frequently Asked Questions
HYLD.L and HYEM.L have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HYEM.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEM.L is cheaper with a 0.40% expense ratio, compared with 0.50% for HYLD.L.
HYLD.L tracks iShares Global High Yield Corp Bond UCITS ETF, while HYEM.L tracks VanEck Emerging Markets High Yield Bond UCITS ETF. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.50% for HYLD.L and 0.40% for HYEM.L.
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