IWF vs. HYEM
IWF (iShares Russell 1000 Growth ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both exchange-traded funds - IWF is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index, while HYEM is a High Yield Bonds fund tracking the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 10 years, IWF returned 18.17%/yr vs 4.72%/yr for HYEM. At a 0.37 correlation, their price movements are largely independent. IWF charges 0.18%/yr vs 0.40%/yr for HYEM.
Performance
IWF vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, IWF achieves a 2.87% return, which is significantly lower than HYEM's 3.86% return. Over the past 10 years, IWF has outperformed HYEM with an annualized return of 18.17%, while HYEM has yielded a comparatively lower 4.72% annualized return.
IWF
- 1D
- 0.03%
- 1M
- -2.22%
- YTD
- 2.87%
- 6M
- 3.39%
- 1Y
- 20.40%
- 3Y*
- 22.33%
- 5Y*
- 13.90%
- 10Y*
- 18.17%
HYEM
- 1D
- 0.20%
- 1M
- 0.86%
- YTD
- 3.86%
- 6M
- 4.24%
- 1Y
- 9.18%
- 3Y*
- 10.57%
- 5Y*
- 2.92%
- 10Y*
- 4.72%
IWF vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWF iShares Russell 1000 Growth ETF | 2.87% | 18.33% | 33.12% | 42.59% | -29.31% | 27.43% | 38.25% | 35.86% | -1.67% | 29.95% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.86% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
Correlation
The correlation between IWF 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 | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since May 14, 2012 | 0.37 |
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Return for Risk
IWF vs. HYEM — Risk / Return Rank
IWF
HYEM
IWF vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Growth ETF (IWF) 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.
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.
| IWF | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.42 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 3.44 | -2.28 |
| Martin ratioReturn relative to average drawdown | 3.83 | 14.00 | -10.17 |
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Drawdowns
IWF vs. HYEM - Drawdown Comparison
The maximum IWF drawdown since its inception was -64.25%, which is greater than HYEM's maximum drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for IWF and HYEM.
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Drawdown Indicators
| IWF | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.25% | -30.96% | -33.29% |
Max Drawdown (1Y)Largest decline over 1 year | -16.27% | -2.73% | -13.54% |
Max Drawdown (3Y)Largest decline over 3 years | -23.36% | -5.23% | -18.13% |
Max Drawdown (5Y)Largest decline over 5 years | -32.72% | -26.30% | -6.42% |
Max Drawdown (10Y)Largest decline over 10 years | -32.72% | -30.96% | -1.76% |
Current DrawdownCurrent decline from peak | -5.56% | -0.15% | -5.41% |
Average DrawdownAverage peak-to-trough decline | -22.06% | -4.39% | -17.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.93% | 0.67% | +4.26% |
Volatility
IWF vs. HYEM - Volatility Comparison
iShares Russell 1000 Growth ETF (IWF) has a higher volatility of 5.36% compared to VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) at 1.31%. This indicates that IWF'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
| IWF | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.36% | 1.31% | +4.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.40% | 3.21% | +9.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.95% | 4.36% | +11.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.46% | 7.50% | +13.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.00% | 9.27% | +11.73% |
IWF vs. HYEM - Expense Ratio Comparison
IWF has a 0.18% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
IWF vs. HYEM - Dividend Comparison
IWF's dividend yield for the trailing twelve months is around 0.35%, 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% |
IWF iShares Russell 1000 Growth ETF | 0.35% | 0.36% | 0.46% | 0.67% | 0.91% | 0.49% | 0.66% | 0.99% | 1.27% | 1.10% | 1.43% | 1.37% |
Frequently Asked Questions
IWF 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.
IWF has higher volatility (5.36%) compared to HYEM (1.31%). In terms of maximum drawdown, IWF dropped -64.25% vs HYEM's -30.96%.
On 10-year performance, IWF leads with 18.17% vs 4.72% for HYEM. On fees, IWF is cheaper at 0.18% per year. On volatility, HYEM has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWF has performed better with a 18.17% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWF is cheaper with a 0.18% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.53%, compared with 0.35% for IWF.
IWF is categorized as Large Cap Growth Equities, while HYEM is High Yield Bonds. IWF tracks Russell 1000 Growth Index, 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: 0.18% for IWF and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.15 vs 1.19), 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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