BEMB vs. EMHC
BEMB (Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF) and EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) are both Emerging Markets Bonds funds. BEMB is actively managed, while EMHC is passively managed. Over the past 3 years, BEMB returned 8.80%/yr vs 8.74%/yr for EMHC. Their correlation of 0.94 suggests significant overlap in exposure. BEMB charges 0.18%/yr vs 0.23%/yr for EMHC.
Performance
BEMB vs. EMHC - Performance Comparison
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Returns By Period
In the year-to-date period, BEMB achieves a 1.27% return, which is significantly lower than EMHC's 1.57% return.
BEMB
- 1D
- -0.34%
- 1M
- 0.94%
- YTD
- 1.27%
- 6M
- 1.64%
- 1Y
- 9.77%
- 3Y*
- 8.80%
- 5Y*
- —
- 10Y*
- —
EMHC
- 1D
- -0.32%
- 1M
- 1.13%
- YTD
- 1.57%
- 6M
- 1.74%
- 1Y
- 11.54%
- 3Y*
- 8.74%
- 5Y*
- 1.55%
- 10Y*
- —
BEMB vs. EMHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 1.27% | 12.27% | 5.51% | 8.88% |
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 1.57% | 14.07% | 3.52% | 9.07% |
Correlation
The correlation between BEMB and EMHC is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Feb 27, 2023 | 0.94 |
The correlation between BEMB and EMHC has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
BEMB vs. EMHC — Risk / Return Rank
BEMB
EMHC
BEMB vs. EMHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC). 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.
| BEMB | EMHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.41 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 2.65 | +0.03 |
| Martin ratioReturn relative to average drawdown | 11.53 | 11.09 | +0.45 |
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
| BEMB | EMHC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.14 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.45 | 0.22 | +1.24 |
Drawdowns
BEMB vs. EMHC - Drawdown Comparison
The maximum BEMB drawdown since its inception was -6.17%, smaller than the maximum EMHC drawdown of -28.03%. Use the drawdown chart below to compare losses from any high point for BEMB and EMHC.
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Drawdown Indicators
| BEMB | EMHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.17% | -28.03% | +21.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.67% | -4.37% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -7.67% | +1.50% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.03% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.32% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.94% | -9.91% | +8.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 1.04% | -0.19% |
Volatility
BEMB vs. EMHC - Volatility Comparison
The current volatility for Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) is 1.49%, while SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) has a volatility of 1.89%. This indicates that BEMB experiences smaller price fluctuations and is considered to be less risky than EMHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BEMB | EMHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 1.89% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 3.46% | 4.16% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.26% | 5.43% | -1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 9.06% | -3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.88% | 8.96% | -3.08% |
BEMB vs. EMHC - Expense Ratio Comparison
BEMB has a 0.18% expense ratio, which is lower than EMHC's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BEMB vs. EMHC - Dividend Comparison
BEMB's dividend yield for the trailing twelve months is around 6.88%, more than EMHC's 6.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 6.88% | 6.88% | 6.31% | 5.46% | 0.00% | 0.00% |
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 6.11% | 6.16% | 5.95% | 5.12% | 5.11% | 2.97% |
Frequently Asked Questions
With a correlation of 0.93, BEMB and EMHC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EMHC has higher volatility (1.89%) compared to BEMB (1.49%). In terms of maximum drawdown, BEMB dropped -6.17% vs EMHC's -28.03%.
On 3-year performance, BEMB leads with 8.80% vs 8.74% for EMHC. On fees, BEMB is cheaper at 0.18% per year. On volatility, BEMB has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, BEMB has performed better with a 8.80% return vs 8.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BEMB is cheaper with a 0.18% expense ratio, compared with 0.23% for EMHC.
BEMB has the higher dividend yield at 6.88%, compared with 6.11% for EMHC.
They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for BEMB and 0.23% for EMHC.
BEMB currently has the higher Sharpe Ratio (2.30 vs 2.14), 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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