VanEck Emerging Markets High Yield Bond ETF (HYEM) Performance
HYEM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.4% since Dec 31, 2025
- 1 year
- +4.0% total return
- 5 years
- +3.2% a year
- 10 years
- +3.8% a year
- Since first price
- +4.5% a year since 2012
HYEM trailing returns vs AGG, TLT, SPY
| Period | HYEM total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −1.1% | −1.7% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.5% | −3.2% | −0.4% | −1.0% | +3.2% |
| 6 months | −0.7% | −4.1% | −1.5% | −3.8% | +7.8% |
| YTD | +2.4% | −2.7% | −1.0% | −3.4% | +12.3% |
| 1 year | +4.0% | −2.9% | −1.1% | −6.9% | +14.4% |
| 3 years | +34.7%+10.4%/yr | +10.6% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +16.8%+3.2%/yr | −15.5% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +45.9%+3.8%/yr | −20.9% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionMay 9, 2012 | +89.2%+4.5%/yr | −22.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HYEM vs AGG
From May 9, 2012: HYEM grew to $18,924, AGG to $12,827.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HYEM returns by calendar year
8 of 13 full years positive. Best 2016 (+15.9%), worst 2022 (−13.4%). 2026 is year to date.
HYEM annual returns table
| Year | HYEM | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +2.4% | −3.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +9.2% | −5.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +12.2% | −1.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.4% | −5.8% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.4% | −23.2% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.3% | −5.3% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.9% | −31.0% | +7.5% | +18.2% | +18.3% |
| 2019 | +12.9% | −4.5% | +8.5% | +14.1% | +31.2% |
| 2018 | −3.4% | −7.3% | +0.1% | −1.6% | −4.6% |
| 2017 | +7.9% | −1.6% | +3.6% | +9.2% | +21.7% |
| 2016 | +15.9% | −4.8% | +2.4% | +1.2% | +12.0% |
| 2015 | +3.6% | −7.0% | +0.5% | −1.8% | +1.2% |
| 2014 | −2.4% | −14.0% | +6.0% | +27.3% | +13.5% |
| 2013 | −1.5% | −9.9% | −2.0% | −13.4% | +32.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HYEM largest drawdowns
Now 2.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 12, 2020 | −31.0% | Mar 19, 2020 | Nov 13, 2020 | 36 days | 9 months |
| Jun 24, 2021 | −26.3% | Nov 2, 2022 | Sep 16, 2024 | 1.4 years | 3.2 years |
| Jul 11, 2014 | −14.0% | Dec 16, 2014 | May 13, 2016 | 5 months | 1.8 years |
| May 9, 2013 | −9.9% | Jun 24, 2013 | Apr 1, 2014 | 46 days | 11 months |
| Feb 1, 2018 | −7.3% | Sep 5, 2018 | Feb 5, 2019 | 7 months | 1.0 years |
| Feb 28, 2025 | −5.2% | Apr 8, 2025 | May 16, 2025 | 39 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
HYEM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +9.9% | +2.9% | +3.8% | +4.7% |
| Volatility (annualized) | 5.0% | 8.8% | 9.1% | 8.6% |
| Sharpe ratio | 1.05 | -0.04 | 0.21 | 0.40 |
| Sortino ratio | 1.82 | -0.06 | 0.28 | 0.56 |
| Best month | +4.5% | +10.5% | +10.5% | +10.5% |
| Worst month | −2.5% | −5.9% | −15.2% | −15.2% |
| Best 12 months | +19.2% | +19.2% | +25.4% | +25.4% |
| Worst 12 months | +3.6% | −23.7% | −23.7% | −23.7% |
| Positive months | 78% | 62% | 63% | 63% |
| Beta vs S&P 500 | 0.31 | 0.34 | 0.36 | — |
| Correlation with S&P 500 | 0.75 | 0.61 | 0.61 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HYEM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 162 | −23.7% | +6.6% | +25.4% | 75% |
| 3-year (a year) | 138 | −6.0% | +4.9% | +14.1% | 77% |
| 5-year (a year) | 114 | −2.5% | +3.8% | +7.9% | 94% |
| 10-year (a year) | 54 | +1.3% | +3.5% | +5.4% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
HYEM performance overview
VanEck Emerging Markets High Yield Bond ETF (HYEM) returned +4.0% over the past year and +3.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +4.5% a year, turning $10,000 into about $18,924. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −31.0%, from Feb 12, 2020 to Mar 19, 2020, and it took 8 months to get back to the old high. HYEM finished 8 of its 13 full calendar years with a gain; the best year was 2016 (+15.9%) and the worst 2022 (−13.4%). Volatility has been 8.6% a year.
Related: HYEM chart, HYEM dividends, HYEM bond profile. See the HYEM overview for the latest quote and fund facts.
HYEM performance FAQ
What is the HYEM return over the past year?
HYEM returned +4.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.9%.
What is the average annual return of HYEM?
HYEM has returned +3.2% a year over 5 years, +3.8% a year over 10 years, +4.5% a year since May 9, 2012 (total return, distributions reinvested).
How much would $10,000 invested in HYEM be worth?
$10,000 invested in HYEM at its first recorded close on May 9, 2012 would be worth about $18,924 on October 23, 2026 with distributions reinvested.
What was the worst year for HYEM?
The worst calendar year was 2022, with a total return of −13.4%. The best was 2016 at +15.9%.
What is the biggest drawdown of HYEM?
The largest peak-to-trough decline was −31.0% between February 12, 2020 and March 19, 2020. It recovered to the old high on November 13, 2020, 8 months after the bottom.
How volatile is HYEM?
Over the past 3 years HYEM had an annualized volatility of 5.0% and a Sharpe ratio of 1.05 (excess return over 1–3 month T-bills per unit of risk).