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VDEM.L vs. EMHY
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VDEM.L vs. EMHY

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard FTSE Emerging Markets UCITS (VDEM.L) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY).

VDEM.L and EMHY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VDEM.L is a passively managed fund by Vanguard that tracks the performance of the FTSE Emerging Index. It was launched on Sep 24, 2019. EMHY is a passively managed fund by iShares that tracks the performance of the J.P. Morgan USD Emerging Markets High Yield Bond Index. It was launched on Apr 3, 2012. Both VDEM.L and EMHY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VDEM.L vs. EMHY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Emerging Markets UCITS (VDEM.L) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY). The values are adjusted to include any dividend payments, if applicable.

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VDEM.L vs. EMHY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VDEM.L
Vanguard FTSE Emerging Markets UCITS		0.80%25.92%12.28%7.28%-17.20%-0.89%14.86%18.83%-12.55%31.59%
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		-1.07%13.70%11.97%11.47%-13.03%-1.91%3.83%12.98%-5.21%8.54%

Returns By Period

In the year-to-date period, VDEM.L achieves a 0.80% return, which is significantly higher than EMHY's -1.07% return. Over the past 10 years, VDEM.L has outperformed EMHY with an annualized return of 7.79%, while EMHY has yielded a comparatively lower 4.63% annualized return.

VDEM.L

1D
2.77%
1M
-4.44%
YTD
0.80%
6M
1.74%
1Y
23.04%
3Y*
13.96%
5Y*
3.79%
10Y*
7.79%

EMHY

1D
0.35%
1M
-2.59%
YTD
-1.07%
6M
2.66%
1Y
10.13%
3Y*
11.28%
5Y*
4.20%
10Y*
4.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Emerging Markets UCITS

iShares J.P. Morgan EM High Yield Bond ETF

Often compared with VDEM.L:
VDEM.L vs. EIMI.LVDEM.L vs. JPEE.LVDEM.L vs. BRIC.LVDEM.L vs. VFEA.DEVDEM.L vs. VUSA.LVDEM.L vs. EEMVDEM.L vs. IHYA.L
Often compared with EMHY:
EMHY vs. HYEMEMHY vs. VWOBEMHY vs. EMBEMHY vs. EMLCEMHY vs. USHYEMHY vs. BKHYEMHY vs. PCY

VDEM.L vs. EMHY - Expense Ratio Comparison

VDEM.L has a 0.22% expense ratio, which is lower than EMHY's 0.50% expense ratio.

EMHY
iShares J.P. Morgan EM High Yield Bond ETF
VDEM.L
Vanguard FTSE Emerging Markets UCITS

Return for Risk

VDEM.L vs. EMHY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VDEM.L
VDEM.L Risk / Return Rank: 6969
Overall Rank
VDEM.L Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
VDEM.L Sortino Ratio Rank: 6868
Sortino Ratio Rank
VDEM.L Omega Ratio Rank: 6565
Omega Ratio Rank
VDEM.L Calmar Ratio Rank: 7575
Calmar Ratio Rank
VDEM.L Martin Ratio Rank: 6767
Martin Ratio Rank
EMHY
EMHY Risk / Return Rank: 7676
Overall Rank
EMHY Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EMHY Sortino Ratio Rank: 7474
Sortino Ratio Rank
EMHY Omega Ratio Rank: 7676
Omega Ratio Rank
EMHY Calmar Ratio Rank: 7676
Calmar Ratio Rank
EMHY Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VDEM.L vs. EMHY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets UCITS (VDEM.L) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY). 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.

VDEM.LEMHYDifference

Sharpe ratio

Return per unit of total volatility

1.32

1.36

-0.04

Sortino ratio

Return per unit of downside risk

1.79

1.94

-0.15

Omega ratio

Gain probability vs. loss probability

1.25

1.30

-0.05

Calmar ratio

Return relative to maximum drawdown

2.16

2.09

+0.07

Martin ratio

Return relative to average drawdown

7.35

9.21

-1.87

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VDEM.L vs. EMHY - Sharpe Ratio Comparison

The current VDEM.L Sharpe Ratio is 1.32, which is comparable to the EMHY Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of VDEM.L and EMHY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VDEM.LEMHYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

1.36

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

0.47

-0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

0.44

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.48

-0.16

Correlation

The correlation between VDEM.L and EMHY is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VDEM.L vs. EMHY - Dividend Comparison

VDEM.L's dividend yield for the trailing twelve months is around 2.25%, less than EMHY's 6.56% yield.

TTM20252024202320222021202020192018201720162015
VDEM.L
Vanguard FTSE Emerging Markets UCITS		2.25%2.34%2.38%2.58%3.27%2.30%1.81%2.33%2.82%2.16%2.40%2.94%
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		6.56%6.52%6.86%6.73%7.08%5.58%5.44%5.72%6.79%5.59%6.43%6.99%

Drawdowns

VDEM.L vs. EMHY - Drawdown Comparison

The maximum VDEM.L drawdown since its inception was -36.63%, which is greater than EMHY's maximum drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for VDEM.L and EMHY.

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Drawdown Indicators

VDEM.LEMHYDifference

Max Drawdown

Largest peak-to-trough decline

-36.63%

-30.11%

-6.52%

Max Drawdown (1Y)

Largest decline over 1 year

-11.70%

-4.92%

-6.78%

Max Drawdown (5Y)

Largest decline over 5 years

-33.40%

-25.83%

-7.57%

Max Drawdown (10Y)

Largest decline over 10 years

-36.35%

-30.11%

-6.24%

Current Drawdown

Current decline from peak

-7.47%

-3.00%

-4.47%

Average Drawdown

Average peak-to-trough decline

-12.81%

-4.95%

-7.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

1.13%

+2.00%

Volatility

VDEM.L vs. EMHY - Volatility Comparison

Vanguard FTSE Emerging Markets UCITS (VDEM.L) has a higher volatility of 6.60% compared to iShares J.P. Morgan EM High Yield Bond ETF (EMHY) at 3.10%. This indicates that VDEM.L's price experiences larger fluctuations and is considered to be riskier than EMHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VDEM.LEMHYDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.60%

3.10%

+3.50%

Volatility (6M)

Calculated over the trailing 6-month period

11.69%

4.20%

+7.49%

Volatility (1Y)

Calculated over the trailing 1-year period

17.46%

7.51%

+9.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.56%

9.07%

+8.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.66%

10.65%

+8.01%