JGHY.L vs. HYEM.L
JGHY.L (JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF) are both High Yield Bonds funds. JGHY.L is actively managed, while HYEM.L is passively managed. Over the past 5 years, JGHY.L returned 3.74%/yr vs 2.69%/yr for HYEM.L. At a 0.39 correlation, their price movements are largely independent. JGHY.L charges 0.35%/yr vs 0.40%/yr for HYEM.L.
Performance
JGHY.L vs. HYEM.L - Performance Comparison
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Returns By Period
In the year-to-date period, JGHY.L achieves a 2.09% return, which is significantly lower than HYEM.L's 3.15% return.
JGHY.L
- 1D
- -0.08%
- 1M
- -0.13%
- 6M
- 1.98%
- YTD
- 2.09%
- 1Y
- 7.41%
- 3Y*
- 8.58%
- 5Y*
- 3.74%
- 10Y*
- —
HYEM.L
- 1D
- -0.36%
- 1M
- -0.68%
- 6M
- 2.60%
- YTD
- 3.15%
- 1Y
- 7.88%
- 3Y*
- 9.82%
- 5Y*
- 2.69%
- 10Y*
- —
JGHY.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
JGHY.L JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 2.09% | 11.61% | 6.10% | 11.41% | -10.11% | 1.82% | 6.24% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 3.15% | 8.98% | 11.89% | 7.56% | -12.87% | -0.65% | 4.56% |
Correlation
The correlation between JGHY.L and HYEM.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2020 | 0.39 |
The correlation between JGHY.L and HYEM.L shifts across timeframes, from 0.25 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
JGHY.L vs. HYEM.L — Risk / Return Rank
JGHY.L
HYEM.L
JGHY.L vs. HYEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.L) and VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L). 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.
| JGHY.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | +0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.34 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 2.53 | -0.36 |
| Martin ratioReturn relative to average drawdown | 9.24 | 9.53 | -0.29 |
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Drawdowns
JGHY.L vs. HYEM.L - Drawdown Comparison
The maximum JGHY.L drawdown since its inception was -20.47%, smaller than the maximum HYEM.L drawdown of -27.28%. Use the drawdown chart below to compare losses from any high point for JGHY.L and HYEM.L.
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Drawdown Indicators
| JGHY.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -27.28% | +6.81% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -2.94% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -4.27% | -0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -27.28% | +9.74% |
Current DrawdownCurrent decline from peak | -0.20% | -0.78% | +0.58% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -5.09% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 0.78% | 0.00% |
Volatility
JGHY.L vs. HYEM.L - Volatility Comparison
The current volatility for JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc (JGHY.L) is 0.98%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HYEM.L) has a volatility of 1.28%. This indicates that JGHY.L experiences smaller price fluctuations and is considered to be less risky than HYEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JGHY.L | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.28% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 4.14% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.21% | 4.96% | -0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.55% | 6.98% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 7.24% | +1.17% |
JGHY.L vs. HYEM.L - Expense Ratio Comparison
JGHY.L has a 0.35% expense ratio, which is lower than HYEM.L's 0.40% expense ratio.
Dividends
JGHY.L vs. HYEM.L - Dividend Comparison
Neither JGHY.L nor HYEM.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% |
JGHY.L JPMorgan ETFs (Ireland) ICAV Global High Yield Corporate Bond Multi-Factor Active UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JGHY.L and HYEM.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JGHY.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JGHY.L is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.L.
They also come from different issuers: JPMorgan and VanEck. Their fees differ too: 0.35% for JGHY.L and 0.40% for HYEM.L.
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