IS3K.DE vs. HY3M.DE
IS3K.DE (iShares USD Short Duration High Yield Corporate Bond UCITS ETF) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both exchange-traded funds - IS3K.DE is a High Yield Bonds fund tracking the iBoxx® USD Liquid High Yield 0-5 Capped, while HY3M.DE is a Emerging Markets Bonds fund tracking the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, IS3K.DE returned 5.27%/yr vs 3.37%/yr for HY3M.DE. A 0.66 correlation means they provide meaningful diversification when combined. IS3K.DE charges 0.45%/yr vs 0.40%/yr for HY3M.DE.
Performance
IS3K.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS3K.DE achieves a 4.98% return, which is significantly lower than HY3M.DE's 6.33% return.
IS3K.DE
- 1D
- 0.20%
- 1M
- 1.54%
- 6M
- 3.17%
- YTD
- 4.98%
- 1Y
- 7.70%
- 3Y*
- 6.67%
- 5Y*
- 5.27%
- 10Y*
- 4.40%
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
IS3K.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IS3K.DE iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 4.98% | -3.41% | 12.68% | 5.21% | 2.20% | 12.74% | -5.49% | 12.34% | 7.58% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
Correlation
The correlation between IS3K.DE and HY3M.DE is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.66 |
The correlation between IS3K.DE and HY3M.DE has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.
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Return for Risk
IS3K.DE vs. HY3M.DE — Risk / Return Rank
IS3K.DE
HY3M.DE
IS3K.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE). 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.
| IS3K.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 3.41 | -0.93 |
| Martin ratioReturn relative to average drawdown | 8.03 | 10.01 | -1.97 |
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Drawdowns
IS3K.DE vs. HY3M.DE - Drawdown Comparison
The maximum IS3K.DE drawdown since its inception was -27.02%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for IS3K.DE and HY3M.DE.
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Drawdown Indicators
| IS3K.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.02% | -21.08% | -5.94% |
Max Drawdown (1Y)Largest decline over 1 year | -3.09% | -3.08% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -11.25% | -12.09% | +0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -11.25% | -13.58% | +2.33% |
Max Drawdown (10Y)Largest decline over 10 years | -17.93% | — | — |
Current DrawdownCurrent decline from peak | -1.45% | -1.17% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -6.51% | -7.04% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.05% | -0.09% |
Volatility
IS3K.DE vs. HY3M.DE - Volatility Comparison
The current volatility for iShares USD Short Duration High Yield Corporate Bond UCITS ETF (IS3K.DE) is 1.47%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.97%. This indicates that IS3K.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IS3K.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.97% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 5.14% | -1.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 6.85% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.09% | 8.61% | -1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.82% | 13.20% | -5.38% |
IS3K.DE vs. HY3M.DE - Expense Ratio Comparison
IS3K.DE has a 0.45% expense ratio, which is higher than HY3M.DE's 0.40% expense ratio.
Dividends
IS3K.DE vs. HY3M.DE - Dividend Comparison
IS3K.DE's dividend yield for the trailing twelve months is around 6.63%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IS3K.DE iShares USD Short Duration High Yield Corporate Bond UCITS ETF | 6.63% | 6.65% | 6.31% | 5.70% | 4.36% | 4.12% | 5.05% | 5.26% | 5.48% | 5.68% | 5.57% | 5.05% |
Frequently Asked Questions
IS3K.DE and HY3M.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HY3M.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HY3M.DE is cheaper with a 0.40% expense ratio, compared with 0.45% for IS3K.DE.
IS3K.DE is categorized as High Yield Bonds, while HY3M.DE is Emerging Markets Bonds. IS3K.DE tracks iBoxx® USD Liquid High Yield 0-5 Capped, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for IS3K.DE and 0.40% for HY3M.DE.
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