VHYL.L vs. EMNE.DE
VHYL.L (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) and EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) are both exchange-traded funds - VHYL.L is a Dividend fund tracking the FTSE All-World High Dividend Yield Index, while EMNE.DE is a Europe Equities fund tracking the MSCI EMU ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, VHYL.L returned 12.03%/yr vs 10.15%/yr for EMNE.DE. A 0.59 correlation means they provide meaningful diversification when combined. VHYL.L charges 0.29%/yr vs 0.12%/yr for EMNE.DE.
Performance
VHYL.L vs. EMNE.DE - Performance Comparison
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Different Trading Currencies
VHYL.L is traded in GBP, while EMNE.DE is traded in EUR. To make them comparable, the EMNE.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VHYL.L achieves a 13.07% return, which is significantly higher than EMNE.DE's 7.07% return.
VHYL.L
- 1D
- -0.22%
- 1M
- -0.13%
- 6M
- 9.96%
- YTD
- 13.07%
- 1Y
- 25.55%
- 3Y*
- 15.80%
- 5Y*
- 12.03%
- 10Y*
- 9.64%
- ALL TIME*
- 9.35%
EMNE.DE
- 1D
- 0.16%
- 1M
- -4.03%
- 6M
- 6.02%
- YTD
- 7.07%
- 1Y
- 16.61%
- 3Y*
- 14.14%
- 5Y*
- 10.15%
- 10Y*
- —
- ALL TIME*
- 11.20%
VHYL.L vs. EMNE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 13.07% | 18.23% | 11.22% | 5.25% | 5.95% | 19.23% | -3.53% | 11.09% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 7.07% | 28.54% | 5.07% | 16.42% | -7.55% | 14.09% | 7.17% | 14.90% |
Correlation
The correlation between VHYL.L and EMNE.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.59 |
The correlation between VHYL.L and EMNE.DE shifts across timeframes, from 0.59 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VHYL.L vs. EMNE.DE — Risk / Return Rank
VHYL.L
EMNE.DE
VHYL.L vs. EMNE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) and iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
| VHYL.L | EMNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.84 | ||
| Sortino ratioReturn per unit of downside risk | +2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.21 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 1.44 | +2.22 |
| Martin ratioReturn relative to average drawdown | 13.21 | 5.06 | +8.15 |
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Drawdowns
VHYL.L vs. EMNE.DE - Drawdown Comparison
The maximum VHYL.L drawdown since its inception was -27.87%, roughly equal to the maximum EMNE.DE drawdown of -28.65%. Use the drawdown chart below to compare losses from any high point for VHYL.L and EMNE.DE.
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Drawdown Indicators
| VHYL.L | EMNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.87% | -28.65% | +0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.95% | -11.44% | +4.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.79% | -13.12% | +0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -12.79% | -22.68% | +9.89% |
Max Drawdown (10Y)Largest decline over 10 years | -27.87% | — | — |
Current DrawdownCurrent decline from peak | -0.73% | -4.31% | +3.58% |
Average DrawdownAverage peak-to-trough decline | -3.58% | -4.82% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 3.26% | -1.33% |
Volatility
VHYL.L vs. EMNE.DE - Volatility Comparison
The current volatility for Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VHYL.L) is 1.91%, while iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) has a volatility of 4.02%. This indicates that VHYL.L experiences smaller price fluctuations and is considered to be less risky than EMNE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VHYL.L | EMNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 4.02% | -2.11% |
Volatility (6M)Calculated over the trailing 6-month period | 6.92% | 12.72% | -5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.63% | 14.81% | -6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.72% | 16.40% | -5.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.99% | 20.19% | -7.20% |
VHYL.L vs. EMNE.DE - Expense Ratio Comparison
VHYL.L has a 0.29% expense ratio, which is higher than EMNE.DE's 0.12% expense ratio.
Dividends
VHYL.L vs. EMNE.DE - Dividend Comparison
VHYL.L's dividend yield for the trailing twelve months is around 2.53%, more than EMNE.DE's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% |
VHYL.L Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 2.53% | 2.79% | 3.08% | 3.37% | 3.67% | 3.08% | 3.28% | 3.34% | 3.63% | 3.09% | 2.88% | 3.20% |
Frequently Asked Questions
VHYL.L and EMNE.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.29% for VHYL.L.
VHYL.L is categorized as Dividend, while EMNE.DE is Europe Equities. VHYL.L tracks FTSE All-World High Dividend Yield Index, while EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.29% for VHYL.L and 0.12% for EMNE.DE.
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