PGHY vs. HYEM
Compare and contrast key facts about Invesco Global Short Term High Yield Bond ETF (PGHY) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM).
PGHY and HYEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PGHY is a passively managed fund by Invesco that tracks the performance of the DB Global Short Maturity High Yield Bond Index. It was launched on Jun 20, 2013. HYEM is a passively managed fund by VanEck that tracks the performance of the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. It was launched on May 8, 2012. Both PGHY and HYEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PGHY or HYEM.
Performance
PGHY vs. HYEM - Performance Comparison
Returns By Period
In the year-to-date period, PGHY achieves a 9.44% return, which is significantly lower than HYEM's 12.38% return. Both investments have delivered pretty close results over the past 10 years, with PGHY having a 4.04% annualized return and HYEM not far behind at 3.94%.
PGHY
9.44%
0.28%
5.50%
13.80%
3.68%
4.04%
HYEM
12.38%
0.88%
6.41%
16.13%
2.60%
3.94%
Key characteristics
| PGHY | HYEM | |
|---|---|---|
| Sharpe Ratio | 3.19 | 3.05 |
| Sortino Ratio | 4.92 | 4.71 |
| Omega Ratio | 1.64 | 1.63 |
| Calmar Ratio | 7.33 | 1.37 |
| Martin Ratio | 28.44 | 35.59 |
| Ulcer Index | 0.50% | 0.48% |
| Daily Std Dev | 4.41% | 5.57% |
| Max Drawdown | -20.50% | -30.97% |
| Current Drawdown | -0.05% | -0.05% |
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PGHY vs. HYEM - Expense Ratio Comparison
PGHY has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Correlation
The correlation between PGHY and HYEM is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Risk-Adjusted Performance
PGHY vs. HYEM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Short Term High Yield Bond ETF (PGHY) 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.
Dividends
PGHY vs. HYEM - Dividend Comparison
PGHY's dividend yield for the trailing twelve months is around 7.39%, more than HYEM's 6.10% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGHY Invesco Global Short Term High Yield Bond ETF | 7.39% | 7.86% | 5.12% | 5.18% | 5.45% | 5.33% | 5.45% | 5.52% | 6.26% | 4.59% | 4.40% | 1.90% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.10% | 6.28% | 6.47% | 5.34% | 5.56% | 6.15% | 5.71% | 5.87% | 6.25% | 7.64% | 6.77% | 6.14% |
Drawdowns
PGHY vs. HYEM - Drawdown Comparison
The maximum PGHY drawdown since its inception was -20.50%, smaller than the maximum HYEM drawdown of -30.97%. Use the drawdown chart below to compare losses from any high point for PGHY and HYEM. For additional features, visit the drawdowns tool.
Volatility
PGHY vs. HYEM - Volatility Comparison
The current volatility for Invesco Global Short Term High Yield Bond ETF (PGHY) is 1.08%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 2.23%. This indicates that PGHY experiences smaller price fluctuations and is considered to be less risky than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.