HYZD vs. HYEM
Compare and contrast key facts about WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM).
HYZD and HYEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HYZD is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree U.S. High Yield Corporate Bond, Zero Duration Index. It was launched on Dec 18, 2013. HYEM is a passively managed fund by VanEck that tracks the performance of the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. It was launched on May 8, 2012. Both HYZD and HYEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HYZD or HYEM.
Key characteristics
| HYZD | HYEM | |
|---|---|---|
| YTD Return | 9.31% | 12.15% |
| 1Y Return | 12.76% | 18.24% |
| 3Y Return (Ann) | 6.15% | 1.73% |
| 5Y Return (Ann) | 4.85% | 2.69% |
| 10Y Return (Ann) | 4.55% | 3.86% |
| Sharpe Ratio | 2.87 | 3.34 |
| Sortino Ratio | 4.41 | 5.14 |
| Omega Ratio | 1.56 | 1.70 |
| Calmar Ratio | 4.80 | 1.26 |
| Martin Ratio | 27.53 | 39.02 |
| Ulcer Index | 0.47% | 0.47% |
| Daily Std Dev | 4.47% | 5.48% |
| Max Drawdown | -25.66% | -30.97% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between HYZD and HYEM is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
HYZD vs. HYEM - Performance Comparison
In the year-to-date period, HYZD achieves a 9.31% return, which is significantly lower than HYEM's 12.15% return. Over the past 10 years, HYZD has outperformed HYEM with an annualized return of 4.55%, while HYEM has yielded a comparatively lower 3.86% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HYZD vs. HYEM - Expense Ratio Comparison
HYZD has a 0.43% expense ratio, which is higher than HYEM's 0.40% expense ratio.
Risk-Adjusted Performance
HYZD vs. HYEM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) 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.
Dividends
HYZD vs. HYEM - Dividend Comparison
HYZD's dividend yield for the trailing twelve months is around 6.09%, which matches HYEM's 6.11% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 6.09% | 5.94% | 5.14% | 4.02% | 5.14% | 5.51% | 5.58% | 4.95% | 5.07% | 4.38% | 3.82% | 0.10% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.11% | 6.28% | 6.47% | 5.34% | 5.56% | 6.15% | 5.71% | 5.87% | 6.25% | 7.64% | 6.77% | 6.14% |
Drawdowns
HYZD vs. HYEM - Drawdown Comparison
The maximum HYZD drawdown since its inception was -25.66%, smaller than the maximum HYEM drawdown of -30.97%. Use the drawdown chart below to compare losses from any high point for HYZD and HYEM. For additional features, visit the drawdowns tool.
Volatility
HYZD vs. HYEM - Volatility Comparison
The current volatility for WisdomTree Interest Rate Hedged High Yield Bond Fund (HYZD) is 1.16%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.98%. This indicates that HYZD 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.