HYXF vs. HYEM
HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - HYXF tracks the Bloomberg MSCI US High Yield Corporate Choice ESG Screened while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 10 years, HYXF returned 5.17%/yr vs 4.63%/yr for HYEM. At a 0.43 correlation, their price movements are largely independent. HYXF charges 0.35%/yr vs 0.40%/yr for HYEM.
Performance
HYXF vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, HYXF achieves a 1.31% return, which is significantly lower than HYEM's 3.97% return. Over the past 10 years, HYXF has outperformed HYEM with an annualized return of 5.17%, while HYEM has yielded a comparatively lower 4.63% annualized return.
HYXF
- 1D
- 0.04%
- 1M
- 0.41%
- YTD
- 1.31%
- 6M
- 1.35%
- 1Y
- 5.06%
- 3Y*
- 8.92%
- 5Y*
- 3.58%
- 10Y*
- 5.17%
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%
HYXF vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.31% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | 6.89% |
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% |
Correlation
The correlation between HYXF and HYEM is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.43 |
The correlation between HYXF and HYEM shifts across timeframes, from 0.43 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HYXF vs. HYEM — Risk / Return Rank
HYXF
HYEM
HYXF vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM). 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.
| HYXF | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.39 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 3.30 | -1.32 |
| Martin ratioReturn relative to average drawdown | 8.84 | 13.39 | -4.55 |
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Drawdowns
HYXF vs. HYEM - Drawdown Comparison
The maximum HYXF drawdown since its inception was -18.75%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for HYXF and HYEM.
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Drawdown Indicators
| HYXF | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.75% | -30.96% | +12.21% |
Max Drawdown (1Y)Largest decline over 1 year | -2.57% | -2.73% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -4.81% | -5.23% | +0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.00% | -26.29% | +10.29% |
Max Drawdown (10Y)Largest decline over 10 years | -18.75% | -30.96% | +12.21% |
Current DrawdownCurrent decline from peak | -0.11% | -0.49% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -4.38% | +1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.67% | -0.10% |
Volatility
HYXF vs. HYEM - Volatility Comparison
The current volatility for iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) is 1.07%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.14%. This indicates that HYXF experiences smaller price fluctuations and is considered to be less risky than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HYXF | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.07% | 1.14% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 3.03% | 3.26% | -0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 4.40% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.05% | 7.50% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.31% | 9.27% | -0.96% |
HYXF vs. HYEM - Expense Ratio Comparison
HYXF has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
HYXF vs. HYEM - Dividend Comparison
HYXF's dividend yield for the trailing twelve months is around 6.07%, less than HYEM's 6.52% 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% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.07% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% | 0.00% |
Frequently Asked Questions
HYXF and HYEM have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.14%) compared to HYXF (1.07%). In terms of maximum drawdown, HYXF dropped -18.75% vs HYEM's -30.96%.
On 10-year performance, HYXF leads with 5.17% vs 4.63% for HYEM. On fees, HYXF is cheaper at 0.35% 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, HYXF has performed better with a 5.17% return vs 4.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYXF is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.52%, compared with 6.07% for HYXF.
HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.35% for HYXF and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.04 vs 1.33), 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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