IBHH vs. HYEM
IBHH (iShares iBonds 2028 Term High Yield and Income ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - IBHH tracks the Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 3 years, IBHH returned 8.48%/yr vs 11.00%/yr for HYEM. A 0.54 correlation means they provide meaningful diversification when combined. IBHH charges 0.35%/yr vs 0.40%/yr for HYEM.
Performance
IBHH vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, IBHH achieves a 1.66% return, which is significantly lower than HYEM's 3.92% return.
IBHH
- 1D
- -0.06%
- 1M
- 0.40%
- YTD
- 1.66%
- 6M
- 2.20%
- 1Y
- 6.59%
- 3Y*
- 8.48%
- 5Y*
- —
- 10Y*
- —
HYEM
- 1D
- -0.10%
- 1M
- 1.26%
- YTD
- 3.92%
- 6M
- 4.87%
- 1Y
- 10.30%
- 3Y*
- 11.00%
- 5Y*
- 3.04%
- 10Y*
- 4.65%
IBHH vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 1.66% | 8.02% | 7.53% | 12.87% | -6.70% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.92% | 9.24% | 12.14% | 8.35% | -0.75% |
Correlation
The correlation between IBHH and HYEM is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2022 | 0.54 |
The correlation between IBHH and HYEM shifts across timeframes, from 0.42 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBHH vs. HYEM — Risk / Return Rank
IBHH
HYEM
IBHH vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds 2028 Term High Yield and Income ETF (IBHH) 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.
| IBHH | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.47 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | 3.79 | +1.62 |
| Martin ratioReturn relative to average drawdown | 21.70 | 15.48 | +6.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBHH | HYEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 2.39 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.54 | +0.19 |
Drawdowns
IBHH vs. HYEM - Drawdown Comparison
The maximum IBHH drawdown since its inception was -12.05%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for IBHH and HYEM.
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Drawdown Indicators
| IBHH | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.05% | -30.96% | +18.91% |
Max Drawdown (1Y)Largest decline over 1 year | -1.22% | -2.73% | +1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -4.66% | -5.23% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.10% | +0.03% |
Average DrawdownAverage peak-to-trough decline | -2.30% | -4.40% | +2.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.30% | 0.67% | -0.37% |
Volatility
IBHH vs. HYEM - Volatility Comparison
The current volatility for iShares iBonds 2028 Term High Yield and Income ETF (IBHH) is 0.77%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.33%. This indicates that IBHH 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
| IBHH | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.33% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 2.08% | 3.24% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.82% | 4.33% | -1.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 7.49% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.26% | 9.27% | -2.01% |
IBHH vs. HYEM - Expense Ratio Comparison
IBHH has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
IBHH vs. HYEM - Dividend Comparison
IBHH's dividend yield for the trailing twelve months is around 6.27%, 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% |
IBHH iShares iBonds 2028 Term High Yield and Income ETF | 6.27% | 6.39% | 6.93% | 6.65% | 5.36% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBHH and HYEM have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.33%) compared to IBHH (0.77%). In terms of maximum drawdown, IBHH dropped -12.05% vs HYEM's -30.96%.
On 3-year performance, HYEM leads with 11.00% vs 8.48% for IBHH. On fees, IBHH is cheaper at 0.35% per year. On volatility, IBHH has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYEM has performed better with a 11.00% return vs 8.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBHH 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 6.27% for IBHH.
IBHH tracks Bloomberg 2028 Term High Yield and Income Index - Benchmark TR Gross, 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 IBHH and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.39 vs 2.35), 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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