EMB vs. MSD
Compare and contrast key facts about iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Morgan Stanley Emerging Markets Debt Fund, Inc. (MSD).
EMB is a passively managed fund by iShares that tracks the performance of the JPMorgan EMBI Global Core Index. It was launched on Dec 17, 2007.
Performance
EMB vs. MSD - Performance Comparison
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EMB vs. MSD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | -1.21% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
MSD Morgan Stanley Emerging Markets Debt Fund, Inc. | -1.99% | 5.58% | 24.92% | 19.14% | -22.10% | 2.20% | 0.73% | 24.38% | -12.31% | 16.33% |
Returns By Period
In the year-to-date period, EMB achieves a -1.21% return, which is significantly higher than MSD's -1.99% return. Over the past 10 years, EMB has underperformed MSD with an annualized return of 3.23%, while MSD has yielded a comparatively higher 5.47% annualized return.
EMB
- 1D
- 0.41%
- 1M
- -2.76%
- YTD
- -1.21%
- 6M
- 1.22%
- 1Y
- 9.20%
- 3Y*
- 8.49%
- 5Y*
- 1.86%
- 10Y*
- 3.23%
MSD
- 1D
- 1.14%
- 1M
- -6.18%
- YTD
- -1.99%
- 6M
- 0.02%
- 1Y
- -4.31%
- 3Y*
- 15.14%
- 5Y*
- 4.51%
- 10Y*
- 5.47%
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Return for Risk
EMB vs. MSD — Risk / Return Rank
EMB
MSD
EMB vs. MSD - 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 Morgan Stanley Emerging Markets Debt Fund, Inc. (MSD). 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 | MSD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | -0.32 | +1.65 |
Sortino ratioReturn per unit of downside risk | 1.88 | -0.33 | +2.21 |
Omega ratioGain probability vs. loss probability | 1.28 | 0.95 | +0.33 |
Calmar ratioReturn relative to maximum drawdown | 2.12 | -0.29 | +2.41 |
Martin ratioReturn relative to average drawdown | 8.52 | -0.73 | +9.25 |
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 | MSD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | -0.32 | +1.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.33 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.37 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.35 | +0.07 |
Correlation
The correlation between EMB and MSD is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
EMB vs. MSD - Dividend Comparison
EMB's dividend yield for the trailing twelve months is around 5.16%, less than MSD's 9.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.16% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
MSD Morgan Stanley Emerging Markets Debt Fund, Inc. | 9.15% | 9.88% | 11.88% | 10.90% | 7.34% | 4.99% | 4.67% | 5.37% | 6.56% | 5.81% | 6.87% | 7.03% |
Drawdowns
EMB vs. MSD - Drawdown Comparison
The maximum EMB drawdown since its inception was -34.70%, smaller than the maximum MSD drawdown of -58.51%. Use the drawdown chart below to compare losses from any high point for EMB and MSD.
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Drawdown Indicators
| EMB | MSD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -58.51% | +23.81% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -11.53% | +7.02% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | -33.89% | +5.15% |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | -37.50% | +8.76% |
Current DrawdownCurrent decline from peak | -3.10% | -8.67% | +5.57% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -11.33% | +6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.12% | 5.11% | -3.99% |
Volatility
EMB vs. MSD - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) is 3.15%, while Morgan Stanley Emerging Markets Debt Fund, Inc. (MSD) has a volatility of 5.04%. This indicates that EMB experiences smaller price fluctuations and is considered to be less risky than MSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMB | MSD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 5.04% | -1.89% |
Volatility (6M)Calculated over the trailing 6-month period | 4.02% | 7.34% | -3.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.96% | 13.36% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.74% | 13.93% | -4.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.94% | 14.68% | -4.74% |