UEFS.DE vs. HY3M.DE
UEFS.DE (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - UEFS.DE tracks the Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped while HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, UEFS.DE returned 2.96%/yr vs 3.37%/yr for HY3M.DE. At a 0.48 correlation, their price movements are largely independent. UEFS.DE charges 0.25%/yr vs 0.40%/yr for HY3M.DE.
Performance
UEFS.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, UEFS.DE achieves a 5.74% return, which is significantly lower than HY3M.DE's 6.33% return.
UEFS.DE
- 1D
- 0.12%
- 1M
- 0.96%
- 6M
- 4.73%
- YTD
- 5.74%
- 1Y
- 13.72%
- 3Y*
- 9.67%
- 5Y*
- 2.96%
- 10Y*
- 3.04%
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
UEFS.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 5.74% | 2.26% | 13.85% | 8.27% | -14.71% | 5.65% | -4.63% | 17.08% | 4.91% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | -14.66% |
Correlation
The correlation between UEFS.DE and HY3M.DE is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.48 |
The correlation between UEFS.DE and HY3M.DE has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.
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Return for Risk
UEFS.DE vs. HY3M.DE — Risk / Return Rank
UEFS.DE
HY3M.DE
UEFS.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE). 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.
| UEFS.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.66 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.28 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | 3.41 | +1.26 |
| Martin ratioReturn relative to average drawdown | 14.28 | 10.01 | +4.28 |
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Drawdowns
UEFS.DE vs. HY3M.DE - Drawdown Comparison
The maximum UEFS.DE drawdown since its inception was -24.33%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for UEFS.DE and HY3M.DE.
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Drawdown Indicators
| UEFS.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.33% | -21.08% | -3.25% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -3.08% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -13.71% | -12.09% | -1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -17.81% | -13.58% | -4.23% |
Max Drawdown (10Y)Largest decline over 10 years | -24.33% | — | — |
Current DrawdownCurrent decline from peak | -0.94% | -1.17% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -7.04% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.96% | 1.05% | -0.09% |
Volatility
UEFS.DE vs. HY3M.DE - Volatility Comparison
The current volatility for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist (UEFS.DE) is 1.56%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.97%. This indicates that UEFS.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UEFS.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.56% | 1.97% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 5.14% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.19% | 6.85% | -0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.73% | 8.61% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.92% | 13.20% | -0.28% |
UEFS.DE vs. HY3M.DE - Expense Ratio Comparison
UEFS.DE has a 0.25% expense ratio, which is lower than HY3M.DE's 0.40% expense ratio.
Dividends
UEFS.DE vs. HY3M.DE - Dividend Comparison
UEFS.DE's dividend yield for the trailing twelve months is around 6.39%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UEFS.DE UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) Dist | 6.39% | 7.97% | 6.14% | 6.46% | 6.08% | 4.22% | 5.09% | 4.60% | 4.53% | 4.90% | 2.30% |
Frequently Asked Questions
UEFS.DE and HY3M.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UEFS.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UEFS.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for HY3M.DE.
UEFS.DE tracks Bloomberg Emerging Markets USD Sovereign & Agency 3% Country Capped, while HY3M.DE 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: 0.25% for UEFS.DE and 0.40% for HY3M.DE.
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