IEMG vs. HYGI

Last updated Jun 9, 2026

IEMG (iShares Core MSCI Emerging Markets ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. IEMG charges 0.09%/yr vs 0.52%/yr for HYGI.

Performance

IEMG vs. HYGI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Emerging Markets ETF (IEMG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

IEMG

• 1D: 1.70%
• 1M: -3.66%
• YTD: 18.97%
• 6M: 20.80%
• 1Y: 40.80%
• 3Y*: 20.51%
• 5Y*: 6.57%
• 10Y*: 9.88%

HYGI

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMG vs. HYGI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IEMG iShares Core MSCI Emerging Markets ETF	18.97%	32.56%	6.50%	11.52%	-2.65%
HYGI iShares Inflation Hedged High Yield Bond ETF	0.00%	6.20%	9.16%	11.71%	0.65%

Correlation

The correlation between IEMG and HYGI is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022	0.49

Over the past year, the correlation between IEMG and HYGI has dropped to 0.14 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

IEMG vs. HYGI - Sectors Allocation Comparison

Sectors	IEMG	HYGI
Technology	35.0%	-
Financial Services	18.4%	-
Consumer Cyclical	9.5%	-
Industrials	9.0%	-
Basic Materials	6.9%	-
Communication Services	6.4%	-
Energy	3.8%	-
Healthcare	3.7%	-
Consumer Defensive	3.3%	-
Utilities	2.2%	99.6%
Real Estate	1.7%	0.4%

Return for Risk

IEMG vs. HYGI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IEMG

IEMG Risk / Return Rank: 67
IEMG Sharpe Ratio Rank: 67
IEMG Sortino Ratio Rank: 61
IEMG Omega Ratio Rank: 71
IEMG Calmar Ratio Rank: 68
IEMG Martin Ratio Rank: 69

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IEMG vs. HYGI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.

	IEMG	HYGI	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.58	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.10	—	—
Martin ratio: Return relative to average drawdown	11.68	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IEMG	HYGI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.99	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	—	—

Drawdowns

Drawdown Indicators

	IEMG	HYGI	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.21%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	—	—
Current Drawdown Current decline from peak	-7.00%	—	—
Average Drawdown Average peak-to-trough decline	-12.97%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	—	—

Volatility

Volatility by Period

	IEMG	HYGI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.33%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.35%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.62%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	—	—

IEMG vs. HYGI - Expense Ratio Comparison

IEMG has a 0.09% expense ratio, which is lower than HYGI's 0.52% expense ratio.

Dividends

IEMG vs. HYGI - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.31%, while HYGI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYGI iShares Inflation Hedged High Yield Bond ETF	0.97%	3.41%	6.08%	6.22%	3.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEMG iShares Core MSCI Emerging Markets ETF	2.31%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%

Frequently Asked Questions

Can I hold both IEMG and HYGI in my portfolio?

IEMG and HYGI have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IEMG or HYGI?

On fees, IEMG is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IEMG or HYGI?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.52% for HYGI.

Which ETF pays a higher dividend yield, IEMG or HYGI?

IEMG has the higher dividend yield at 2.31%, compared with 0.97% for HYGI.

What is the main difference between IEMG and HYGI?

IEMG is categorized as Emerging Markets Diversified, while HYGI is Inflation-Protected Bonds. IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Their fees differ too: 0.09% for IEMG and 0.52% for HYGI.