SSXF.L vs. HYEM.L
SSXF.L (iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist)) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both exchange-traded funds - SSXF.L is a Corporate Bonds fund tracking the iBoxx Sterling Corporate Bond ex Financials Index, while HYEM.L 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, SSXF.L returned -2.18%/yr vs 3.42%/yr for HYEM.L. At a 0.16 correlation, their price movements are largely independent. SSXF.L charges 0.20%/yr vs 0.40%/yr for HYEM.L.
Performance
SSXF.L vs. HYEM.L - Performance Comparison
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Different Trading Currencies
SSXF.L is traded in EUR, while HYEM.L is traded in USD. To make them comparable, the HYEM.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SSXF.L achieves a -0.24% return, which is significantly lower than HYEM.L's 6.34% return.
SSXF.L
- 1D
- -0.15%
- 1M
- 0.70%
- 6M
- 0.36%
- YTD
- -0.24%
- 1Y
- 3.15%
- 3Y*
- 5.05%
- 5Y*
- -2.18%
- 10Y*
- 0.31%
HYEM.L
- 1D
- 0.03%
- 1M
- 0.28%
- 6M
- 4.32%
- YTD
- 6.34%
- 1Y
- 9.41%
- 3Y*
- 9.22%
- 5Y*
- 3.42%
- 10Y*
- —
SSXF.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | -0.24% | 1.57% | 4.52% | 10.82% | -24.14% | 2.57% | 2.91% | 17.08% | -2.22% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 6.34% | -3.95% | 19.28% | 4.34% | -7.47% | 6.78% | -3.24% | 17.20% | 4.72% |
Correlation
The correlation between SSXF.L and HYEM.L is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.16 |
The correlation between SSXF.L and HYEM.L shifts across timeframes, from 0.03 (1 year) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SSXF.L vs. HYEM.L — Risk / Return Rank
SSXF.L
HYEM.L
SSXF.L vs. HYEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (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.
| SSXF.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.24 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 2.87 | -2.31 |
| Martin ratioReturn relative to average drawdown | 1.25 | 8.56 | -7.31 |
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Drawdowns
SSXF.L vs. HYEM.L - Drawdown Comparison
The maximum SSXF.L drawdown since its inception was -33.80%, which is greater than HYEM.L's maximum drawdown of -21.49%. Use the drawdown chart below to compare losses from any high point for SSXF.L and HYEM.L.
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Drawdown Indicators
| SSXF.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.80% | -21.49% | -12.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.58% | -3.27% | -3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -12.42% | +4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -33.80% | -14.07% | -19.73% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | — | — |
Current DrawdownCurrent decline from peak | -12.47% | -0.54% | -11.93% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -5.16% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 1.09% | +1.85% |
Volatility
SSXF.L vs. HYEM.L - Volatility Comparison
iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) (SSXF.L) has a higher volatility of 1.92% compared to VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L) at 1.34%. This indicates that SSXF.L's price experiences larger fluctuations and is considered to be riskier 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
| SSXF.L | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.92% | 1.34% | +0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 6.03% | 5.39% | +0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.57% | 7.33% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.87% | 9.30% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.83% | 9.39% | +0.44% |
SSXF.L vs. HYEM.L - Expense Ratio Comparison
SSXF.L has a 0.20% expense ratio, which is lower than HYEM.L's 0.40% expense ratio.
Dividends
SSXF.L vs. HYEM.L - Dividend Comparison
SSXF.L's dividend yield for the trailing twelve months is around 2.33%, while HYEM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SSXF.L iShares £ Corp Bond ex-Financials UCITS ETF GBP (Dist) | 2.33% | 4.34% | 3.88% | 3.14% | 3.09% | 2.23% | 2.35% | 2.55% | 2.89% | 2.90% | 3.78% | 2.01% |
Frequently Asked Questions
SSXF.L and HYEM.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SSXF.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SSXF.L is cheaper with a 0.20% expense ratio, compared with 0.40% for HYEM.L.
SSXF.L is categorized as Corporate Bonds, while HYEM.L is Emerging Markets Bonds. SSXF.L tracks iBoxx Sterling Corporate Bond ex Financials Index, while HYEM.L 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: 0.20% for SSXF.L and 0.40% for HYEM.L.
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