VEMY vs. HYGW
VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) and HYGW (iShares High Yield Corporate Bond Buywrite Strategy ETF) are both exchange-traded funds - VEMY is a Emerging Markets Bonds fund actively managed by Virtus, while HYGW is a High Yield Bonds fund tracking the Cboe HYG BuyWrite Index. VEMY is actively managed, while HYGW is passively managed. Over the past 3 years, VEMY returned 15.11%/yr vs 5.70%/yr for HYGW. A 0.55 correlation means they provide meaningful diversification when combined. VEMY charges 0.58%/yr vs 0.69%/yr for HYGW.
Performance
VEMY vs. HYGW - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VEMY achieves a 6.70% return, which is significantly higher than HYGW's 2.12% return.
VEMY
- 1D
- 0.28%
- 1M
- 2.19%
- YTD
- 6.70%
- 6M
- 6.88%
- 1Y
- 18.55%
- 3Y*
- 15.11%
- 5Y*
- —
- 10Y*
- —
HYGW
- 1D
- 0.24%
- 1M
- 0.84%
- YTD
- 2.12%
- 6M
- 2.52%
- 1Y
- 6.56%
- 3Y*
- 5.70%
- 5Y*
- —
- 10Y*
- —
VEMY vs. HYGW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 6.70% | 15.27% | 13.48% | 14.45% | -1.43% |
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 2.12% | 6.19% | 6.99% | 7.31% | -0.28% |
Correlation
The correlation between VEMY and HYGW 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 (All Time) Calculated using the full available price history since Dec 13, 2022 | 0.55 |
The correlation between VEMY and HYGW has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VEMY vs. HYGW — Risk / Return Rank
VEMY
HYGW
VEMY vs. HYGW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) and iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW). 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.
| VEMY | HYGW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.49 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 3.62 | +1.03 |
| Martin ratioReturn relative to average drawdown | 22.07 | 16.51 | +5.56 |
Loading charts...
Drawdowns
VEMY vs. HYGW - Drawdown Comparison
The maximum VEMY drawdown since its inception was -8.77%, which is greater than HYGW's maximum drawdown of -5.49%. Use the drawdown chart below to compare losses from any high point for VEMY and HYGW.
Loading charts...
Drawdown Indicators
| VEMY | HYGW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.77% | -5.49% | -3.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.00% | -1.82% | -2.18% |
Max Drawdown (3Y)Largest decline over 3 years | -6.57% | -3.66% | -2.91% |
Current DrawdownCurrent decline from peak | -0.09% | 0.00% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -0.60% | -0.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 0.40% | +0.44% |
Volatility
VEMY vs. HYGW - Volatility Comparison
Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) has a higher volatility of 1.45% compared to iShares High Yield Corporate Bond Buywrite Strategy ETF (HYGW) at 0.91%. This indicates that VEMY's price experiences larger fluctuations and is considered to be riskier than HYGW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VEMY | HYGW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.45% | 0.91% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.73% | 2.24% | +2.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.08% | 2.87% | +3.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.61% | 4.67% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.61% | 4.67% | +2.94% |
VEMY vs. HYGW - Expense Ratio Comparison
VEMY has a 0.58% expense ratio, which is lower than HYGW's 0.69% expense ratio.
Dividends
VEMY vs. HYGW - Dividend Comparison
VEMY's dividend yield for the trailing twelve months is around 8.31%, less than HYGW's 11.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
HYGW iShares High Yield Corporate Bond Buywrite Strategy ETF | 11.52% | 12.53% | 12.30% | 15.98% | 8.71% |
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF | 8.31% | 8.89% | 10.28% | 9.55% | 0.00% |
Frequently Asked Questions
VEMY and HYGW 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.
VEMY has higher volatility (1.45%) compared to HYGW (0.91%). In terms of maximum drawdown, VEMY dropped -8.77% vs HYGW's -5.49%.
On 3-year performance, VEMY leads with 15.11% vs 5.70% for HYGW. On fees, VEMY is cheaper at 0.58% per year. On volatility, HYGW has been the lower-risk option at 0.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, VEMY has performed better with a 15.11% return vs 5.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEMY is cheaper with a 0.58% expense ratio, compared with 0.69% for HYGW.
HYGW has the higher dividend yield at 11.52%, compared with 8.31% for VEMY.
VEMY is categorized as Emerging Markets Bonds, while HYGW is High Yield Bonds. They also come from different issuers: Virtus and iShares. Their fees differ too: 0.58% for VEMY and 0.69% for HYGW.
VEMY currently has the higher Sharpe Ratio (3.07 vs 2.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for VEMY and HYGW
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