IEMB.L vs. HYEM
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both exchange-traded funds - IEMB.L is a Emerging Markets Bonds fund managed by iShares, while HYEM is a High Yield Bonds fund tracking the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Over the past 10 years, IEMB.L returned 3.32%/yr vs 4.63%/yr for HYEM. At a 0.43 correlation, their price movements are largely independent. IEMB.L charges 0.45%/yr vs 0.40%/yr for HYEM.
Performance
IEMB.L vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, IEMB.L achieves a 1.62% return, which is significantly lower than HYEM's 3.81% return. Over the past 10 years, IEMB.L has underperformed HYEM with an annualized return of 3.32%, while HYEM has yielded a comparatively higher 4.63% annualized return.
IEMB.L
- 1D
- 0.41%
- 1M
- 1.01%
- YTD
- 1.62%
- 6M
- 2.22%
- 1Y
- 11.20%
- 3Y*
- 9.72%
- 5Y*
- 1.91%
- 10Y*
- 3.32%
HYEM
- 1D
- -0.10%
- 1M
- 0.91%
- YTD
- 3.81%
- 6M
- 4.19%
- 1Y
- 10.08%
- 3Y*
- 10.82%
- 5Y*
- 3.02%
- 10Y*
- 4.63%
IEMB.L vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.62% | 13.71% | 5.70% | 10.54% | -18.35% | -2.28% | 5.57% | 16.06% | -5.53% | 9.73% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.81% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
Correlation
The correlation between IEMB.L 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 | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 15, 2012 | 0.43 |
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Return for Risk
IEMB.L vs. HYEM — Risk / Return Rank
IEMB.L
HYEM
IEMB.L vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) 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.
| IEMB.L | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.46 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.71 | -1.13 |
| Martin ratioReturn relative to average drawdown | 10.73 | 15.14 | -4.41 |
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
| IEMB.L | HYEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 2.33 | -0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.40 | -0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.50 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.54 | -0.03 |
Drawdowns
IEMB.L vs. HYEM - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, roughly equal to the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for IEMB.L and HYEM.
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Drawdown Indicators
| IEMB.L | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -30.96% | -1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -2.73% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -5.23% | -2.31% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | -26.30% | -2.32% |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | -30.96% | +2.34% |
Current DrawdownCurrent decline from peak | -0.11% | -0.20% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -4.40% | -0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.67% | +0.37% |
Volatility
IEMB.L vs. HYEM - Volatility Comparison
iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a higher volatility of 2.57% compared to VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) at 1.32%. This indicates that IEMB.L's price experiences larger fluctuations and is considered to be riskier 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
| IEMB.L | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 1.32% | +1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 3.21% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 4.33% | +1.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 7.49% | +1.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 9.27% | -0.02% |
IEMB.L vs. HYEM - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is higher than HYEM's 0.40% expense ratio.
Dividends
IEMB.L vs. HYEM - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, less than HYEM's 6.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.53% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 5.83% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
Frequently Asked Questions
IEMB.L 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.
On fees, HYEM is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYEM is cheaper with a 0.40% expense ratio, compared with 0.45% for IEMB.L.
IEMB.L is categorized as Emerging Markets Bonds, while HYEM is High Yield Bonds. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for IEMB.L and 0.40% for HYEM.
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