VIGI vs. HYEM
VIGI (Vanguard International Dividend Appreciation ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both exchange-traded funds - VIGI is a Dividend fund tracking the S&P Global Ex-U.S. Dividend Growers Index, while HYEM is a High Yield Bonds fund tracking the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 10 years, VIGI returned 8.31%/yr vs 4.72%/yr for HYEM. At a 0.43 correlation, their price movements are largely independent. VIGI charges 0.15%/yr vs 0.40%/yr for HYEM.
Performance
VIGI vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, VIGI achieves a 3.10% return, which is significantly lower than HYEM's 3.86% return. Over the past 10 years, VIGI has outperformed HYEM with an annualized return of 8.31%, while HYEM has yielded a comparatively lower 4.72% annualized return.
VIGI
- 1D
- -0.22%
- 1M
- 0.88%
- YTD
- 3.10%
- 6M
- 3.92%
- 1Y
- 6.49%
- 3Y*
- 9.51%
- 5Y*
- 4.27%
- 10Y*
- 8.31%
HYEM
- 1D
- 0.20%
- 1M
- 0.36%
- YTD
- 3.86%
- 6M
- 4.24%
- 1Y
- 9.18%
- 3Y*
- 10.57%
- 5Y*
- 2.92%
- 10Y*
- 4.72%
VIGI vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIGI Vanguard International Dividend Appreciation ETF | 3.10% | 16.88% | 2.73% | 16.30% | -16.79% | 12.51% | 14.66% | 27.53% | -11.50% | 27.97% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.86% | 9.24% | 12.14% | 8.35% | -13.39% | -1.31% | 6.87% | 12.85% | -3.38% | 7.94% |
Correlation
The correlation between VIGI and HYEM is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2016 | 0.43 |
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Return for Risk
VIGI vs. HYEM — Risk / Return Rank
VIGI
HYEM
VIGI vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard International Dividend Appreciation ETF (VIGI) and VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM). 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.
| VIGI | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.49 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.42 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | 3.44 | -2.96 |
| Martin ratioReturn relative to average drawdown | 1.70 | 14.00 | -12.30 |
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Drawdowns
VIGI vs. HYEM - Drawdown Comparison
The maximum VIGI drawdown since its inception was -31.01%, roughly equal to the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for VIGI and HYEM.
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Drawdown Indicators
| VIGI | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.01% | -30.96% | -0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -2.73% | -7.91% |
Max Drawdown (3Y)Largest decline over 3 years | -14.50% | -5.23% | -9.27% |
Max Drawdown (5Y)Largest decline over 5 years | -28.80% | -26.30% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -31.01% | -30.96% | -0.05% |
Current DrawdownCurrent decline from peak | -2.03% | -0.15% | -1.88% |
Average DrawdownAverage peak-to-trough decline | -6.17% | -4.39% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.04% | 0.67% | +2.37% |
Volatility
VIGI vs. HYEM - Volatility Comparison
Vanguard International Dividend Appreciation ETF (VIGI) has a higher volatility of 3.35% compared to VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) at 1.31%. This indicates that VIGI's price experiences larger fluctuations and is considered to be riskier than HYEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIGI | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.35% | 1.31% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 3.21% | +7.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.20% | 4.36% | +8.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.47% | 7.50% | +6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.87% | 9.27% | +6.60% |
VIGI vs. HYEM - Expense Ratio Comparison
VIGI has a 0.15% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
VIGI vs. HYEM - Dividend Comparison
VIGI's dividend yield for the trailing twelve months is around 2.14%, less than HYEM's 6.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 6.53% | 6.67% | 6.34% | 6.27% | 6.47% | 5.33% | 5.56% | 6.14% | 5.71% | 5.86% | 6.25% | 7.64% |
VIGI Vanguard International Dividend Appreciation ETF | 2.14% | 2.14% | 1.93% | 1.92% | 2.06% | 7.02% | 1.29% | 1.83% | 1.99% | 1.75% | 1.05% | 0.00% |
Frequently Asked Questions
VIGI and HYEM have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIGI has higher volatility (3.35%) compared to HYEM (1.31%). In terms of maximum drawdown, VIGI dropped -31.01% vs HYEM's -30.96%.
On 10-year performance, VIGI leads with 8.31% vs 4.72% for HYEM. On fees, VIGI is cheaper at 0.15% per year. On volatility, HYEM has been the lower-risk option at 1.31%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VIGI has performed better with a 8.31% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VIGI is cheaper with a 0.15% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.53%, compared with 2.14% for VIGI.
VIGI is categorized as Dividend, while HYEM is High Yield Bonds. VIGI tracks S&P Global Ex-U.S. Dividend Growers Index, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.15% for VIGI and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.15 vs 0.39), 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.
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