HYLE.DE vs. HY3M.DE
HYLE.DE (iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both exchange-traded funds - HYLE.DE is a High Yield Bonds fund tracking the iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while HY3M.DE is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, HYLE.DE returned 2.09%/yr vs 3.45%/yr for HY3M.DE. At a correlation of -0.02, they often move in opposite directions. HYLE.DE charges 0.55%/yr vs 0.40%/yr for HY3M.DE.
Performance
HYLE.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HYLE.DE achieves a 0.84% return, which is significantly lower than HY3M.DE's 6.76% return.
HYLE.DE
- 1D
- -0.23%
- 1M
- -0.16%
- 6M
- 0.61%
- YTD
- 0.84%
- 1Y
- 3.38%
- 3Y*
- 6.03%
- 5Y*
- 2.09%
- 10Y*
- —
HY3M.DE
- 1D
- 0.18%
- 1M
- 0.99%
- 6M
- 4.21%
- YTD
- 6.76%
- 1Y
- 9.61%
- 3Y*
- 9.20%
- 5Y*
- 3.45%
- 10Y*
- —
HYLE.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 0.84% | 5.99% | 5.32% | 9.83% | -10.71% | 3.04% | 2.41% | 3.61% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 8.08% |
Correlation
The correlation between HYLE.DE and HY3M.DE is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019 | -0.02 |
The correlation between HYLE.DE and HY3M.DE shifts across timeframes, from -0.13 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HYLE.DE vs. HY3M.DE — Risk / Return Rank
HYLE.DE
HY3M.DE
HYLE.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE). 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.
| HYLE.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.26 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 3.11 | -1.95 |
| Martin ratioReturn relative to average drawdown | 5.22 | 9.17 | -3.95 |
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Drawdowns
HYLE.DE vs. HY3M.DE - Drawdown Comparison
The maximum HYLE.DE drawdown since its inception was -22.51%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for HYLE.DE and HY3M.DE.
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Drawdown Indicators
| HYLE.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.51% | -21.08% | -1.43% |
Max Drawdown (1Y)Largest decline over 1 year | -2.91% | -3.08% | +0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.96% | -12.09% | +8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -15.44% | -13.58% | -1.86% |
Current DrawdownCurrent decline from peak | -0.47% | -0.77% | +0.30% |
Average DrawdownAverage peak-to-trough decline | -3.46% | -7.04% | +3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 1.04% | -0.39% |
Volatility
HYLE.DE vs. HY3M.DE - Volatility Comparison
The current volatility for iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist (HYLE.DE) is 0.83%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.80%. This indicates that HYLE.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYLE.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.83% | 1.80% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 3.09% | 5.09% | -2.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 6.74% | -2.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.97% | 8.60% | -2.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.25% | 13.19% | -4.94% |
HYLE.DE vs. HY3M.DE - Expense Ratio Comparison
HYLE.DE has a 0.55% expense ratio, which is higher than HY3M.DE's 0.40% expense ratio.
Dividends
HYLE.DE vs. HY3M.DE - Dividend Comparison
HYLE.DE's dividend yield for the trailing twelve months is around 6.90%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HYLE.DE iShares Global High Yield Corporate Bond UCITS ETF (EUR Hedged) Dist | 6.90% | 5.34% | 5.38% | 4.76% | 4.17% | 3.83% | 4.50% | 1.75% |
Frequently Asked Questions
HYLE.DE and HY3M.DE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HY3M.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HY3M.DE is cheaper with a 0.40% expense ratio, compared with 0.55% for HYLE.DE.
HYLE.DE is categorized as High Yield Bonds, while HY3M.DE is Emerging Markets Bonds. HYLE.DE tracks iBoxx® Global Developed Markets Liquid High Yield Capped (EUR Hedged), while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.55% for HYLE.DE and 0.40% for HY3M.DE.
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