XHYF vs. HYEM
XHYF (BondBloxx US High Yield Financial & REIT Sector ETF) and HYEM (VanEck Vectors Emerging Markets High Yield Bond ETF) are both High Yield Bonds funds - XHYF tracks the ICE Diversified US Cash Pay High Yield Financial & REIT while HYEM tracks the BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 3 years, XHYF returned 9.29%/yr vs 10.82%/yr for HYEM. A 0.56 correlation means they provide meaningful diversification when combined. XHYF charges 0.35%/yr vs 0.40%/yr for HYEM.
Performance
XHYF vs. HYEM - Performance Comparison
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Returns By Period
In the year-to-date period, XHYF achieves a -0.10% return, which is significantly lower than HYEM's 3.81% return.
XHYF
- 1D
- 0.00%
- 1M
- -0.35%
- YTD
- -0.10%
- 6M
- 0.51%
- 1Y
- 4.79%
- 3Y*
- 9.29%
- 5Y*
- —
- 10Y*
- —
HYEM
- 1D
- -0.10%
- 1M
- 0.91%
- YTD
- 3.81%
- 6M
- 4.19%
- 1Y
- 10.08%
- 3Y*
- 10.82%
- 5Y*
- 3.02%
- 10Y*
- 4.63%
XHYF vs. HYEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XHYF BondBloxx US High Yield Financial & REIT Sector ETF | -0.10% | 8.69% | 8.65% | 13.29% | -7.22% |
HYEM VanEck Vectors Emerging Markets High Yield Bond ETF | 3.81% | 9.24% | 12.14% | 8.35% | -9.87% |
Correlation
The correlation between XHYF and HYEM is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.56 |
Over the past year, the correlation between XHYF and HYEM has dropped to 0.35 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.
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Return for Risk
XHYF vs. HYEM — Risk / Return Rank
XHYF
HYEM
XHYF vs. HYEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx US High Yield Financial & REIT Sector ETF (XHYF) 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.
| XHYF | HYEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -0.95 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.46 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 3.71 | -2.00 |
| Martin ratioReturn relative to average drawdown | 7.44 | 15.14 | -7.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XHYF | HYEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 2.33 | -0.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.40 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.50 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.73 | 0.54 | +0.19 |
Drawdowns
XHYF vs. HYEM - Drawdown Comparison
The maximum XHYF drawdown since its inception was -12.92%, smaller than the maximum HYEM drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for XHYF and HYEM.
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Drawdown Indicators
| XHYF | HYEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.92% | -30.96% | +18.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.73% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -4.19% | -5.23% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.30% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.96% | — |
Current DrawdownCurrent decline from peak | -0.61% | -0.20% | -0.41% |
Average DrawdownAverage peak-to-trough decline | -2.54% | -4.40% | +1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 0.67% | +0.07% |
Volatility
XHYF vs. HYEM - Volatility Comparison
The current volatility for BondBloxx US High Yield Financial & REIT Sector ETF (XHYF) is 0.94%, while VanEck Vectors Emerging Markets High Yield Bond ETF (HYEM) has a volatility of 1.32%. This indicates that XHYF experiences smaller price fluctuations and is considered to be less risky 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
| XHYF | HYEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.32% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 3.21% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.52% | 4.33% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.14% | 7.49% | -0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.14% | 9.27% | -2.13% |
XHYF vs. HYEM - Expense Ratio Comparison
XHYF has a 0.35% expense ratio, which is lower than HYEM's 0.40% expense ratio.
Dividends
XHYF vs. HYEM - Dividend Comparison
XHYF's dividend yield for the trailing twelve months is around 6.27%, 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% |
XHYF BondBloxx US High Yield Financial & REIT Sector ETF | 6.27% | 6.73% | 7.11% | 7.00% | 5.47% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XHYF and HYEM have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYEM has higher volatility (1.32%) compared to XHYF (0.94%). In terms of maximum drawdown, XHYF dropped -12.92% vs HYEM's -30.96%.
On 3-year performance, HYEM leads with 10.82% vs 9.29% for XHYF. On fees, XHYF is cheaper at 0.35% per year. On volatility, XHYF has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HYEM has performed better with a 10.82% return vs 9.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XHYF is cheaper with a 0.35% expense ratio, compared with 0.40% for HYEM.
HYEM has the higher dividend yield at 6.53%, compared with 6.27% for XHYF.
XHYF tracks ICE Diversified US Cash Pay High Yield Financial & REIT, while HYEM tracks BofA Merrill Lynch Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: BondBloxx and VanEck. Their fees differ too: 0.35% for XHYF and 0.40% for HYEM.
HYEM currently has the higher Sharpe Ratio (2.33 vs 1.57), 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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