PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VEFI.AX vs. IHEB.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VEFI.AX vs. IHEB.AX

Last updated Jul 16, 2026
Documentation

VEFI.AX (Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF) and IHEB.AX (iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF) are both Total Bond Market funds - VEFI.AX tracks the Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) Index while IHEB.AX tracks the iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) Index. Both are passively managed. Over the past 5 years, VEFI.AX returned -1.57%/yr vs 1.58%/yr for IHEB.AX. At a 0.39 correlation, their price movements are largely independent.

Performance

VEFI.AX vs. IHEB.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF (VEFI.AX) and iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VEFI.AX achieves a -0.66% return, which is significantly lower than IHEB.AX's 1.27% return.

VEFI.AX

1D
0.26%
1M
-0.30%
6M
0.08%
YTD
-0.66%
1Y
2.09%
3Y*
2.38%
5Y*
-1.57%
10Y*
—

IHEB.AX

1D
0.04%
1M
-0.76%
6M
1.61%
YTD
1.27%
1Y
8.50%
3Y*
8.63%
5Y*
1.58%
10Y*
3.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VEFI.AX vs. IHEB.AX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
VEFI.AX
Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF		-0.66%4.62%0.11%3.80%-13.58%-2.40%5.31%7.21%1.60%
IHEB.AX
iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF		1.27%13.46%6.18%9.22%-17.76%-1.00%7.74%18.63%0.36%

Correlation

The correlation between VEFI.AX and IHEB.AX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.34

Correlation (3Y)
Calculated over the trailing 3-year period

0.50

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 11, 2018

0.39

The correlation between VEFI.AX and IHEB.AX shifts across timeframes, from 0.34 (1 year) to 0.50 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF

iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF

Return for Risk

VEFI.AX vs. IHEB.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VEFI.AX
VEFI.AX Risk / Return Rank: 1919
Overall Rank
VEFI.AX Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
VEFI.AX Sortino Ratio Rank: 1717
Sortino Ratio Rank
VEFI.AX Omega Ratio Rank: 1717
Omega Ratio Rank
VEFI.AX Calmar Ratio Rank: 2121
Calmar Ratio Rank
VEFI.AX Martin Ratio Rank: 2121
Martin Ratio Rank
IHEB.AX
IHEB.AX Risk / Return Rank: 5151
Overall Rank
IHEB.AX Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
IHEB.AX Sortino Ratio Rank: 5353
Sortino Ratio Rank
IHEB.AX Omega Ratio Rank: 5656
Omega Ratio Rank
IHEB.AX Calmar Ratio Rank: 4343
Calmar Ratio Rank
IHEB.AX Martin Ratio Rank: 5151
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.

VEFI.AX vs. IHEB.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF (VEFI.AX) and iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX). 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.

VEFI.AXIHEB.AXDifference
Sharpe ratioReturn per unit of total volatility
0.55
1.50

-0.94

Sortino ratioReturn per unit of downside risk
0.78
2.14

-1.36

Omega ratioGain probability vs. loss probability

1.10

1.28

-0.19

Calmar ratioReturn relative to maximum drawdown

0.78

1.86

-1.08

Martin ratioReturn relative to average drawdown

1.91

7.02

-5.11

VEFI.AX vs. IHEB.AX - Sharpe Ratio Comparison

The current VEFI.AX Sharpe Ratio is 0.55, which is lower than the IHEB.AX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of VEFI.AX and IHEB.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

VEFI.AX vs. IHEB.AX - Drawdown Comparison

The maximum VEFI.AX drawdown since its inception was -18.73%, smaller than the maximum IHEB.AX drawdown of -31.64%. Use the drawdown chart below to compare losses from any high point for VEFI.AX and IHEB.AX.

Loading charts...

Drawdown Indicators

VEFI.AXIHEB.AXDifference

Max Drawdown

Largest peak-to-trough decline

-18.73%

-31.64%

+12.91%

Max Drawdown (1Y)

Largest decline over 1 year

-2.69%

-4.64%

+1.95%

Max Drawdown (3Y)

Largest decline over 3 years

-4.78%

-7.51%

+2.73%

Max Drawdown (5Y)

Largest decline over 5 years

-18.17%

-27.90%

+9.73%

Max Drawdown (10Y)

Largest decline over 10 years

—

-31.64%

—

Current Drawdown

Current decline from peak

-8.99%

-0.80%

-8.19%

Average Drawdown

Average peak-to-trough decline

-7.54%

-6.27%

-1.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.12%

1.24%

-0.12%

Volatility

VEFI.AX vs. IHEB.AX - Volatility Comparison

The current volatility for Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF (VEFI.AX) is 0.97%, while iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF (IHEB.AX) has a volatility of 1.08%. This indicates that VEFI.AX experiences smaller price fluctuations and is considered to be less risky than IHEB.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VEFI.AXIHEB.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.97%

1.08%

-0.11%

Volatility (6M)

Calculated over the trailing 6-month period

2.97%

4.82%

-1.85%

Volatility (1Y)

Calculated over the trailing 1-year period

3.78%

5.75%

-1.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.43%

10.73%

-5.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.64%

12.04%

-6.40%

Dividends

VEFI.AX vs. IHEB.AX - Dividend Comparison

VEFI.AX's dividend yield for the trailing twelve months is around 1.68%, less than IHEB.AX's 6.02% yield.

PositionTTM202520242023202220212020201920182017
IHEB.AX
iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) ETF		6.02%5.74%9.24%5.17%8.58%6.14%9.71%6.51%3.59%6.82%
VEFI.AX
Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) ETF		1.68%2.89%0.97%1.47%0.89%7.18%4.56%1.74%0.00%0.00%

Frequently Asked Questions

VEFI.AX and IHEB.AX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VEFI.AX tracks Vanguard Ethically Conscious Global Aggregate Bond Index (Hedged) Index, while IHEB.AX tracks iShares JP Morgan USD Emerging Markets Bond (AUD Hedged) Index. They also come from different issuers: Vanguard and iShares.

Portfolio Optimizer

Find the right allocation for VEFI.AX and IHEB.AX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer