EMB vs. FNMIX
EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) and FNMIX (Fidelity New Markets Income Fund) are both Emerging Markets Bonds funds. Over the past 10 years, EMB returned 3.29%/yr vs 4.04%/yr for FNMIX. A 0.66 correlation means they provide meaningful diversification when combined. EMB charges 0.39%/yr vs 0.80%/yr for FNMIX.
Performance
EMB vs. FNMIX - Performance Comparison
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Returns By Period
In the year-to-date period, EMB achieves a 1.80% return, which is significantly lower than FNMIX's 3.96% return. Over the past 10 years, EMB has underperformed FNMIX with an annualized return of 3.29%, while FNMIX has yielded a comparatively higher 4.04% annualized return.
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%
FNMIX
- 1D
- 0.29%
- 1M
- 1.06%
- YTD
- 3.96%
- 6M
- 4.43%
- 1Y
- 15.89%
- 3Y*
- 12.95%
- 5Y*
- 3.87%
- 10Y*
- 4.04%
EMB vs. FNMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
FNMIX Fidelity New Markets Income Fund | 3.96% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
Correlation
The correlation between EMB and FNMIX is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007 | 0.66 |
The correlation between EMB and FNMIX has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
EMB vs. FNMIX — Risk / Return Rank
EMB
FNMIX
EMB vs. FNMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Fidelity New Markets Income Fund (FNMIX). 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.
| EMB | FNMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.81 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 4.29 | -1.71 |
| Martin ratioReturn relative to average drawdown | 11.01 | 18.79 | -7.77 |
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
| EMB | FNMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 3.73 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.59 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.58 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.80 | -0.37 |
Drawdowns
EMB vs. FNMIX - Drawdown Comparison
The maximum EMB drawdown since its inception was -34.70%, smaller than the maximum FNMIX drawdown of -42.76%. Use the drawdown chart below to compare losses from any high point for EMB and FNMIX.
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Drawdown Indicators
| EMB | FNMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -42.76% | +8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -3.85% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -7.95% | -6.42% | -1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | -27.16% | -1.58% |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | -27.16% | -1.58% |
Current DrawdownCurrent decline from peak | -0.37% | 0.00% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -5.06% | -5.69% | +0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.88% | +0.17% |
Volatility
EMB vs. FNMIX - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) has a higher volatility of 1.85% compared to Fidelity New Markets Income Fund (FNMIX) at 1.60%. This indicates that EMB's price experiences larger fluctuations and is considered to be riskier than FNMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMB | FNMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.85% | 1.60% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 3.59% | +0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.56% | 4.44% | +1.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.75% | 6.62% | +3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.96% | 6.93% | +3.03% |
EMB vs. FNMIX - Expense Ratio Comparison
EMB has a 0.39% expense ratio, which is lower than FNMIX's 0.80% expense ratio.
Dividends
EMB vs. FNMIX - Dividend Comparison
EMB's dividend yield for the trailing twelve months is around 5.06%, more than FNMIX's 4.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FNMIX Fidelity New Markets Income Fund | 4.88% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
Frequently Asked Questions
EMB and FNMIX have a correlation of 0.71, 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 FNMIX (1.60%). In terms of maximum drawdown, EMB dropped -34.70% vs FNMIX's -42.76%.
FNMIX currently has the higher Sharpe Ratio (3.73 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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