XUEM.DE vs. HY3M.DE
XUEM.DE (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) and HY3M.DE (VanEck Emerging Markets High Yield Bond UCITS ETF) are both Emerging Markets Bonds funds - XUEM.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, XUEM.DE returned 2.37%/yr vs 3.37%/yr for HY3M.DE. A 0.57 correlation means they provide meaningful diversification when combined. XUEM.DE charges 0.25%/yr vs 0.40%/yr for HY3M.DE.
Performance
XUEM.DE vs. HY3M.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XUEM.DE achieves a 5.37% return, which is significantly lower than HY3M.DE's 6.33% return.
XUEM.DE
- 1D
- -0.19%
- 1M
- 0.67%
- 6M
- 4.45%
- YTD
- 5.37%
- 1Y
- 12.57%
- 3Y*
- 8.38%
- 5Y*
- 2.37%
- 10Y*
- —
HY3M.DE
- 1D
- -0.75%
- 1M
- 0.99%
- 6M
- 4.72%
- YTD
- 6.33%
- 1Y
- 9.36%
- 3Y*
- 9.22%
- 5Y*
- 3.37%
- 10Y*
- —
XUEM.DE vs. HY3M.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.37% | 1.05% | 12.16% | 7.17% | -14.21% | 5.47% | -6.15% | 17.95% | -11.62% |
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 6.33% | -3.30% | 18.25% | 4.13% | -7.66% | 7.35% | -3.67% | 17.71% | 2.40% |
Correlation
The correlation between XUEM.DE and HY3M.DE is 0.54, 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 | 0.54 |
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 May 9, 2018 | 0.57 |
The correlation between XUEM.DE and HY3M.DE has been stable across timeframes, ranging from 0.53 to 0.57 - a consistent structural relationship.
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Return for Risk
XUEM.DE vs. HY3M.DE — Risk / Return Rank
XUEM.DE
HY3M.DE
XUEM.DE vs. HY3M.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.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.
| XUEM.DE | HY3M.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.28 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.66 | 3.41 | +1.25 |
| Martin ratioReturn relative to average drawdown | 13.83 | 10.01 | +3.83 |
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Drawdowns
XUEM.DE vs. HY3M.DE - Drawdown Comparison
The maximum XUEM.DE drawdown since its inception was -26.81%, which is greater than HY3M.DE's maximum drawdown of -21.08%. Use the drawdown chart below to compare losses from any high point for XUEM.DE and HY3M.DE.
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Drawdown Indicators
| XUEM.DE | HY3M.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.81% | -21.08% | -5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -2.69% | -3.08% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -12.09% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -17.53% | -13.58% | -3.95% |
Current DrawdownCurrent decline from peak | -1.13% | -1.17% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -10.03% | -7.04% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.91% | 1.05% | -0.14% |
Volatility
XUEM.DE vs. HY3M.DE - Volatility Comparison
The current volatility for Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.DE) is 1.44%, while VanEck Emerging Markets High Yield Bond UCITS ETF (HY3M.DE) has a volatility of 1.97%. This indicates that XUEM.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
| XUEM.DE | HY3M.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.44% | 1.97% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 3.86% | 5.14% | -1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 6.85% | -0.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.72% | 8.61% | +0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.74% | 13.20% | -1.46% |
XUEM.DE vs. HY3M.DE - Expense Ratio Comparison
XUEM.DE has a 0.25% expense ratio, which is lower than HY3M.DE's 0.40% expense ratio.
Dividends
XUEM.DE vs. HY3M.DE - Dividend Comparison
XUEM.DE's dividend yield for the trailing twelve months is around 5.12%, while HY3M.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
HY3M.DE VanEck Emerging Markets High Yield Bond UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XUEM.DE Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.12% | 5.56% | 6.56% | 5.40% | 5.95% | 8.12% | 4.58% | 0.61% |
Frequently Asked Questions
XUEM.DE and HY3M.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.DE is cheaper with a 0.25% expense ratio, compared with 0.40% for HY3M.DE.
XUEM.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 XUEM.DE and 0.40% for HY3M.DE.
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