EMBD vs. MTBA

Last updated Jun 4, 2026

EMBD (Global X Emerging Markets Bond ETF) and MTBA (Simplify MBS ETF) are both exchange-traded funds - EMBD is a Emerging Markets Bonds fund actively managed by Global X, while MTBA is a Mortgage Backed Securities fund actively managed by Simplify. Both are actively managed. Over the past year, EMBD returned 10.34% vs 5.18% for MTBA. A 0.57 correlation means they provide meaningful diversification when combined. EMBD charges 0.39%/yr vs 0.15%/yr for MTBA.

Performance

EMBD vs. MTBA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Emerging Markets Bond ETF (EMBD) and Simplify MBS ETF (MTBA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMBD achieves a 1.27% return, which is significantly higher than MTBA's -0.23% return.

EMBD

• 1D: -0.38%
• 1M: 0.94%
• YTD: 1.27%
• 6M: 2.05%
• 1Y: 10.34%
• 3Y*: 9.44%
• 5Y*: 2.87%
• 10Y*: —

MTBA

• 1D: -0.12%
• 1M: 0.21%
• YTD: -0.23%
• 6M: 0.18%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMBD vs. MTBA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMBD Global X Emerging Markets Bond ETF	1.27%	12.55%	6.76%	8.19%
MTBA Simplify MBS ETF	-0.23%	7.74%	1.99%	3.64%

Correlation

The correlation between EMBD and MTBA is 0.56, 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	0.56
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.57

The correlation between EMBD and MTBA has been stable across timeframes, ranging from 0.56 to 0.57 - a consistent structural relationship.

EMBD vs. MTBA - Sectors Allocation Comparison

Sectors	EMBD	MTBA
Financial Services	0.8%	47.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EMBD vs. MTBA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMBD

EMBD Risk / Return Rank: 52
EMBD Sharpe Ratio Rank: 50
EMBD Sortino Ratio Rank: 54
EMBD Omega Ratio Rank: 50
EMBD Calmar Ratio Rank: 50
EMBD Martin Ratio Rank: 55

MTBA

MTBA Risk / Return Rank: 45
MTBA Sharpe Ratio Rank: 48
MTBA Sortino Ratio Rank: 48
MTBA Omega Ratio Rank: 51
MTBA Calmar Ratio Rank: 37
MTBA Martin Ratio Rank: 39

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMBD vs. MTBA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Bond ETF (EMBD) and Simplify MBS ETF (MTBA). 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.

	EMBD	MTBA	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.68	+0.06
Sortino ratio: Return per unit of downside risk	2.59	2.38	+0.20
Omega ratio: Gain probability vs. loss probability	1.32	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.45	1.84	+0.61
Martin ratio: Return relative to average drawdown	9.52	6.28	+3.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMBD vs. MTBA - Sharpe Ratio Comparison

The current EMBD Sharpe Ratio is 1.73, which is comparable to the MTBA Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of EMBD and MTBA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMBD	MTBA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.68	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	1.30	-0.84

Drawdowns

EMBD vs. MTBA - Drawdown Comparison

The maximum EMBD drawdown since its inception was -24.27%, which is greater than MTBA's maximum drawdown of -3.48%. Use the drawdown chart below to compare losses from any high point for EMBD and MTBA.

Drawdown Indicators

	EMBD	MTBA	Difference
Max Drawdown Largest peak-to-trough decline	-24.27%	-3.48%	-20.79%
Max Drawdown (1Y) Largest decline over 1 year	-4.23%	-2.82%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-7.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.27%	—	—
Current Drawdown Current decline from peak	-0.50%	-1.60%	+1.10%
Average Drawdown Average peak-to-trough decline	-5.88%	-0.79%	-5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	0.83%	+0.26%

Volatility

EMBD vs. MTBA - Volatility Comparison

Global X Emerging Markets Bond ETF (EMBD) has a higher volatility of 1.62% compared to Simplify MBS ETF (MTBA) at 1.33%. This indicates that EMBD's price experiences larger fluctuations and is considered to be riskier than MTBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMBD	MTBA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	1.33%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	4.16%	2.47%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	6.00%	3.10%	+2.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.17%	3.95%	+5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.89%	3.95%	+4.94%

EMBD vs. MTBA - Expense Ratio Comparison

EMBD has a 0.39% expense ratio, which is higher than MTBA's 0.15% expense ratio.

Dividends

EMBD vs. MTBA - Dividend Comparison

EMBD's dividend yield for the trailing twelve months is around 5.69%, less than MTBA's 6.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
EMBD Global X Emerging Markets Bond ETF	5.69%	5.48%	5.83%	5.29%	4.53%	4.99%	3.34%
MTBA Simplify MBS ETF	6.09%	5.98%	6.03%	0.48%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMBD and MTBA in my portfolio?

EMBD and MTBA have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMBD or MTBA?

EMBD has higher volatility (1.62%) compared to MTBA (1.33%). In terms of maximum drawdown, EMBD dropped -24.27% vs MTBA's -3.48%.

Which ETF is better, EMBD or MTBA?

On 1-year performance, EMBD leads with 10.34% vs 5.18% for MTBA. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMBD or MTBA?

Over the 1-year period, EMBD has performed better with a 10.34% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMBD or MTBA?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.39% for EMBD.

Which ETF pays a higher dividend yield, EMBD or MTBA?

MTBA has the higher dividend yield at 6.09%, compared with 5.69% for EMBD.

What is the main difference between EMBD and MTBA?

EMBD is categorized as Emerging Markets Bonds, while MTBA is Mortgage Backed Securities. They also come from different issuers: Global X and Simplify. Their fees differ too: 0.39% for EMBD and 0.15% for MTBA.

Which has better risk-adjusted returns?

EMBD currently has the higher Sharpe Ratio (1.73 vs 1.68), 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.