XUEB.DE vs. HY3M.DE
XUEB.DE (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - XUEB.DE tracks the JPM EMBI Global Diversified TR USD while HY3M.DE tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, XUEB.DE returned 2.35%/yr vs 3.45%/yr for HY3M.DE. At a 0.50 correlation, their price movements are largely independent. XUEB.DE charges 0.25%/yr vs 0.40%/yr for HY3M.DE.
Performance
XUEB.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEB.DE achieves a 5.18% return, which is significantly lower than HY3M.DE's 6.76% return.
XUEB.DE
- 1D
- 0.00%
- 1M
- 0.48%
- 6M
- 3.56%
- YTD
- 5.18%
- 1Y
- 12.08%
- 3Y*
- 8.26%
- 5Y*
- 2.35%
- 10Y*
- —
HY3M.DE
- 1D
- 0.18%
- 1M
- 0.99%
- 6M
- 4.21%
- YTD
- 6.76%
- 1Y
- 9.61%
- 3Y*
- 9.20%
- 5Y*
- 3.45%
- 10Y*
- —
XUEB.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
XUEB.DE Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 5.18% | 1.23% | 11.99% | 7.34% | -14.37% | 5.65% | -10.39% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.76% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | 2.46% |
Correlation
The correlation between XUEB.DE and HY3M.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2020 | 0.50 |
The correlation between XUEB.DE and HY3M.DE has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
XUEB.DE vs. HY3M.DE — Risk / Return Rank
XUEB.DE
HY3M.DE
XUEB.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.DE) and VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.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.
| XUEB.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.26 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 3.11 | -2.27 |
| Martin ratioReturn relative to average drawdown | 1.20 | 9.17 | -7.97 |
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Drawdowns
XUEB.DE vs. HY3M.DE - Drawdown Comparison
The maximum XUEB.DE drawdown since its inception was -21.07%, roughly equal to the maximum HY3M.DE drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for XUEB.DE and HY3M.DE.
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Drawdown Indicators
| XUEB.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.07% | -21.08% | +0.01% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -3.08% | -11.25% |
Max Drawdown (3Y)Largest decline over 3 years | -14.33% | -12.09% | -2.24% |
Max Drawdown (5Y)Largest decline over 5 years | -17.41% | -13.58% | -3.83% |
Current DrawdownCurrent decline from peak | -8.83% | -0.77% | -8.06% |
Average DrawdownAverage peak-to-trough decline | -11.21% | -7.04% | -4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.06% | 1.04% | +9.02% |
Volatility
XUEB.DE vs. HY3M.DE - Volatility Comparison
The current volatility for Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.DE) is 1.00%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.80%. This indicates that XUEB.DE experiences smaller price fluctuations and is considered to be less risky than HY3M.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XUEB.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.80% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 3.99% | 5.09% | -1.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.57% | 6.74% | +14.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.71% | 8.60% | +4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.80% | 13.19% | -0.39% |
XUEB.DE vs. HY3M.DE - Expense Ratio Comparison
XUEB.DE has a 0.25% expense ratio, which is lower than HY3M.DE's 0.40% expense ratio.
Dividends
XUEB.DE vs. HY3M.DE - Dividend Comparison
Neither XUEB.DE nor HY3M.DE has paid dividends to shareholders.
Frequently Asked Questions
XUEB.DE and HY3M.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEB.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for HY3M.DE.
XUEB.DE tracks JPM EMBI Global Diversified TR USD, while HY3M.DE tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: Xtrackers and VanEck. Their fees differ too: 0.25% for XUEB.DE and 0.40% for HY3M.DE.
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