BBNTX vs. EMB
BBNTX (Sterling Capital North Carolina Intermediate Tax-Free Fund) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both funds - BBNTX is a Municipal Bonds fund managed by Sterling Capital, while EMB is a Emerging Markets Bonds fund tracking the JPMorgan EMBI Global Core Index. Over the past 10 years, BBNTX returned 1.50%/yr vs 3.29%/yr for EMB. At a 0.20 correlation, their price movements are largely independent. BBNTX charges 0.57%/yr vs 0.39%/yr for EMB.
Performance
BBNTX vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, BBNTX achieves a 0.72% return, which is significantly lower than EMB's 1.80% return. Over the past 10 years, BBNTX has underperformed EMB with an annualized return of 1.50%, while EMB has yielded a comparatively higher 3.29% annualized return.
BBNTX
- 1D
- 0.20%
- 1M
- 0.53%
- YTD
- 0.72%
- 6M
- 1.05%
- 1Y
- 5.00%
- 3Y*
- 3.14%
- 5Y*
- 0.78%
- 10Y*
- 1.50%
EMB
- 1D
- -0.37%
- 1M
- 1.29%
- YTD
- 1.80%
- 6M
- 1.93%
- 1Y
- 11.56%
- 3Y*
- 9.74%
- 5Y*
- 1.86%
- 10Y*
- 3.29%
BBNTX vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BBNTX Sterling Capital North Carolina Intermediate Tax-Free Fund | 0.72% | 5.19% | 0.45% | 3.64% | -5.86% | -0.23% | 4.26% | 6.09% | 0.73% | 3.28% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.80% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
Correlation
The correlation between BBNTX and EMB is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007 | 0.20 |
Over the past year, BBNTX and EMB have become more correlated (0.45) than their long-term average of 0.20, meaning their price movements have been converging.
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Return for Risk
BBNTX vs. EMB — Risk / Return Rank
BBNTX
EMB
BBNTX vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sterling Capital North Carolina Intermediate Tax-Free Fund (BBNTX) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
| BBNTX | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 1.41 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.58 | -0.79 |
| Martin ratioReturn relative to average drawdown | 5.65 | 11.01 | -5.37 |
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
| BBNTX | EMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.39 | 2.09 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.19 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.33 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.22 | 0.44 | +0.79 |
Drawdowns
BBNTX vs. EMB - Drawdown Comparison
The maximum BBNTX drawdown since its inception was -10.25%, smaller than the maximum EMB drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for BBNTX and EMB.
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Drawdown Indicators
| BBNTX | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.25% | -34.70% | +24.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -4.51% | +1.70% |
Max Drawdown (3Y)Largest decline over 3 years | -4.15% | -7.95% | +3.80% |
Max Drawdown (5Y)Largest decline over 5 years | -10.16% | -28.74% | +18.58% |
Max Drawdown (10Y)Largest decline over 10 years | -10.25% | -28.74% | +18.49% |
Current DrawdownCurrent decline from peak | -1.07% | -0.37% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -5.06% | +3.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.05% | -0.16% |
Volatility
BBNTX vs. EMB - Volatility Comparison
The current volatility for Sterling Capital North Carolina Intermediate Tax-Free Fund (BBNTX) is 0.89%, while iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) has a volatility of 1.85%. This indicates that BBNTX experiences smaller price fluctuations and is considered to be less risky than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBNTX | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.85% | -0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 1.75% | 4.52% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.11% | 5.56% | -3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.84% | 9.75% | -6.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.22% | 9.96% | -6.74% |
BBNTX vs. EMB - Expense Ratio Comparison
BBNTX has a 0.57% expense ratio, which is higher than EMB's 0.39% expense ratio.
Dividends
BBNTX vs. EMB - Dividend Comparison
BBNTX's dividend yield for the trailing twelve months is around 2.68%, less than EMB's 5.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBNTX Sterling Capital North Carolina Intermediate Tax-Free Fund | 2.68% | 3.52% | 2.82% | 2.07% | 1.94% | 1.59% | 1.62% | 2.43% | 2.51% | 2.39% | 2.73% | 2.98% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.06% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
Frequently Asked Questions
BBNTX and EMB have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMB has higher volatility (1.85%) compared to BBNTX (0.89%). In terms of maximum drawdown, BBNTX dropped -10.25% vs EMB's -34.70%.
BBNTX currently has the higher Sharpe Ratio (2.39 vs 2.09), 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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