UC81.L vs. HYEM.L
UC81.L (UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis) and HYEM.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both exchange-traded funds - UC81.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD, 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, UC81.L returned 2.56%/yr vs 3.21%/yr for HYEM.L. A 0.62 correlation means they provide meaningful diversification when combined. UC81.L charges 0.18%/yr vs 0.40%/yr for HYEM.L.
Performance
UC81.L vs. HYEM.L - Performance Comparison
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Different Trading Currencies
UC81.L is traded in GBp, while HYEM.L is traded in USD. To make them comparable, the HYEM.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, UC81.L achieves a 0.09% return, which is significantly lower than HYEM.L's 3.53% return.
UC81.L
- 1D
- -0.60%
- 1M
- -0.63%
- 6M
- -0.31%
- YTD
- 0.09%
- 1Y
- 3.39%
- 3Y*
- 4.33%
- 5Y*
- 2.56%
- 10Y*
- 2.27%
HYEM.L
- 1D
- 0.47%
- 1M
- -0.51%
- 6M
- 2.20%
- YTD
- 3.53%
- 1Y
- 7.42%
- 3Y*
- 8.85%
- 5Y*
- 3.21%
- 10Y*
- —
UC81.L vs. HYEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 0.09% | -0.20% | 6.43% | 0.38% | 4.76% | 0.32% | 1.51% | 4.23% | 11.71% |
HYEM.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.53% | 1.22% | 13.85% | 2.19% | -2.51% | 0.29% | 2.36% | 10.25% | 7.60% |
Correlation
The correlation between UC81.L and HYEM.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.62 |
The correlation between UC81.L and HYEM.L has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.
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Return for Risk
UC81.L vs. HYEM.L — Risk / Return Rank
UC81.L
HYEM.L
UC81.L vs. HYEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.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.
| UC81.L | HYEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.18 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.71 | 1.82 | -1.10 |
| Martin ratioReturn relative to average drawdown | 1.79 | 4.93 | -3.13 |
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Drawdowns
UC81.L vs. HYEM.L - Drawdown Comparison
The maximum UC81.L drawdown since its inception was -36.65%, which is greater than HYEM.L's maximum drawdown of -15.44%. Use the drawdown chart below to compare losses from any high point for UC81.L and HYEM.L.
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Drawdown Indicators
| UC81.L | HYEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.65% | -15.44% | -21.21% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -4.06% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -8.01% | -9.01% | +1.00% |
Max Drawdown (5Y)Largest decline over 5 years | -14.31% | -13.20% | -1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -14.94% | — | — |
Current DrawdownCurrent decline from peak | -2.95% | -2.18% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -13.82% | -3.64% | -10.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.50% | +0.21% |
Volatility
UC81.L vs. HYEM.L - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis (UC81.L) is 1.76%, while VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYEM.L) has a volatility of 1.86%. This indicates that UC81.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
| UC81.L | HYEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.76% | 1.86% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.33% | 5.87% | -1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.80% | 7.63% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.78% | 9.99% | -2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.41% | 10.09% | -1.68% |
UC81.L vs. HYEM.L - Expense Ratio Comparison
UC81.L has a 0.18% expense ratio, which is lower than HYEM.L's 0.40% expense ratio.
Dividends
UC81.L vs. HYEM.L - Dividend Comparison
UC81.L's dividend yield for the trailing twelve months is around 4.69%, 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% |
UC81.L UBS ETF (LU) Bloomberg US Liquid Corporates 1-5 Year UCITS ETF (USD) A-dis | 4.69% | 5.59% | 4.76% | 3.28% | 1.37% | 1.58% | 2.75% | 2.90% | 2.20% | 2.16% | 1.86% | 0.84% |
Frequently Asked Questions
UC81.L and HYEM.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UC81.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UC81.L is cheaper with a 0.18% expense ratio, compared with 0.40% for HYEM.L.
UC81.L is categorized as Corporate Bonds, while HYEM.L is Emerging Markets Bonds. UC81.L tracks Bloomberg US Corp 1-3 Yr TR USD, while HYEM.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: UBS and VanEck. Their fees differ too: 0.18% for UC81.L and 0.40% for HYEM.L.
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