VWO vs. HYGI
VWO (Vanguard FTSE Emerging Markets ETF) and HYGI (iShares Inflation Hedged High Yield Bond ETF) are both exchange-traded funds - VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index, while HYGI is a Inflation-Protected Bonds fund tracking the BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. Both are passively managed. At a 0.47 correlation, their price movements are largely independent. VWO charges 0.08%/yr vs 0.52%/yr for HYGI.
Performance
VWO vs. HYGI - Performance Comparison
Loading charts...
Returns By Period
VWO
- 1D
- 0.49%
- 1M
- 1.56%
- 6M
- 7.22%
- YTD
- 10.19%
- 1Y
- 22.36%
- 3Y*
- 16.88%
- 5Y*
- 5.47%
- 10Y*
- 8.32%
HYGI
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VWO vs. HYGI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
VWO Vanguard FTSE Emerging Markets ETF | 10.19% | 25.60% | 10.59% | 9.25% | -2.80% |
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.00% | 6.20% | 9.16% | 11.71% | 0.65% |
Correlation
The correlation between VWO and HYGI is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2022 | 0.47 |
Over the past year, the correlation between VWO and HYGI has dropped to 0.07 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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
VWO vs. HYGI — Risk / Return Rank
VWO
HYGI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
VWO vs. HYGI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets ETF (VWO) and iShares Inflation Hedged High Yield Bond ETF (HYGI). 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.
| VWO | HYGI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | — | — |
| Martin ratioReturn relative to average drawdown | 6.92 | — | — |
Loading charts...
Drawdowns
VWO vs. HYGI - Drawdown Comparison
Loading charts...
Drawdown Indicators
| VWO | HYGI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.68% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -11.17% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.37% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.39% | — | — |
Current DrawdownCurrent decline from peak | -3.38% | — | — |
Average DrawdownAverage peak-to-trough decline | -15.76% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | — | — |
Volatility
VWO vs. HYGI - Volatility Comparison
Loading charts...
Volatility by Period
| VWO | HYGI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.74% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.59% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.13% | — | — |
VWO vs. HYGI - Expense Ratio Comparison
VWO has a 0.08% expense ratio, which is lower than HYGI's 0.52% expense ratio.
Dividends
VWO vs. HYGI - Dividend Comparison
VWO's dividend yield for the trailing twelve months is around 2.34%, while HYGI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGI iShares Inflation Hedged High Yield Bond ETF | 0.50% | 3.41% | 6.08% | 6.22% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VWO Vanguard FTSE Emerging Markets ETF | 2.34% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Frequently Asked Questions
VWO and HYGI have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWO is cheaper with a 0.08% expense ratio, compared with 0.52% for HYGI.
VWO has the higher dividend yield at 2.34%, compared with 0.50% for HYGI.
VWO is categorized as Emerging Markets Equities, while HYGI is Inflation-Protected Bonds. VWO tracks FTSE Emerging Index, while HYGI tracks BlackRock Inflation Hedged High Yield Bond Index - Benchmark TR Gross. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VWO and 0.52% for HYGI.
Find the right allocation for VWO and HYGI
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