EMBX vs. EMHY
EMBX (VanEck Emerging Markets Bond ETF) and EMHY (iShares J.P. Morgan EM High Yield Bond ETF) are both Emerging Markets Bonds funds. EMBX is actively managed, while EMHY is passively managed. Over the past 10 years, EMBX returned 5.10%/yr vs 4.73%/yr for EMHY. A 0.57 correlation means they provide meaningful diversification when combined. EMBX charges 0.76%/yr vs 0.50%/yr for EMHY.
Performance
EMBX vs. EMHY - Performance Comparison
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Returns By Period
In the year-to-date period, EMBX achieves a 3.49% return, which is significantly higher than EMHY's 2.80% return. Over the past 10 years, EMBX has outperformed EMHY with an annualized return of 5.10%, while EMHY has yielded a comparatively lower 4.73% annualized return.
EMBX
- 1D
- -0.40%
- 1M
- 0.90%
- YTD
- 3.49%
- 6M
- 3.62%
- 1Y
- 15.18%
- 3Y*
- 10.16%
- 5Y*
- 3.88%
- 10Y*
- 5.10%
EMHY
- 1D
- -0.37%
- 1M
- 1.38%
- YTD
- 2.80%
- 6M
- 3.49%
- 1Y
- 12.96%
- 3Y*
- 13.15%
- 5Y*
- 4.25%
- 10Y*
- 4.73%
EMBX vs. EMHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMBX VanEck Emerging Markets Bond ETF | 3.49% | 18.80% | 3.09% | 9.34% | -7.21% | -4.30% | 11.57% | 13.10% | -6.21% | 11.97% |
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2.80% | 13.70% | 11.97% | 11.47% | -13.03% | -1.91% | 3.83% | 12.98% | -5.21% | 8.54% |
Correlation
The correlation between EMBX and EMHY is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 10, 2012 | 0.57 |
The correlation between EMBX and EMHY shifts across timeframes, from 0.57 (all time) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMBX vs. EMHY — Risk / Return Rank
EMBX
EMHY
EMBX vs. EMHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Emerging Markets Bond ETF (EMBX) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY). 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.
| EMBX | EMHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.47 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 3.00 | -0.03 |
| Martin ratioReturn relative to average drawdown | 12.58 | 13.63 | -1.04 |
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
| EMBX | EMHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.66 | 2.30 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.47 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.44 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.50 | +0.02 |
Drawdowns
EMBX vs. EMHY - Drawdown Comparison
The maximum EMBX drawdown since its inception was -25.11%, smaller than the maximum EMHY drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for EMBX and EMHY.
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Drawdown Indicators
| EMBX | EMHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.11% | -30.11% | +5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -5.14% | -4.34% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -7.41% | -5.95% | -1.46% |
Max Drawdown (5Y)Largest decline over 5 years | -24.07% | -25.83% | +1.76% |
Max Drawdown (10Y)Largest decline over 10 years | -25.11% | -30.11% | +5.00% |
Current DrawdownCurrent decline from peak | -0.62% | -0.37% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -7.08% | -4.90% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 0.95% | +0.26% |
Volatility
EMBX vs. EMHY - Volatility Comparison
VanEck Emerging Markets Bond ETF (EMBX) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY) have volatilities of 1.73% and 1.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMBX | EMHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.73% | 1.66% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.77% | 4.31% | +0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.72% | 5.65% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.10% | 9.10% | -3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.65% | 10.66% | -4.01% |
EMBX vs. EMHY - Expense Ratio Comparison
EMBX has a 0.76% expense ratio, which is higher than EMHY's 0.50% expense ratio.
Dividends
EMBX vs. EMHY - Dividend Comparison
EMBX's dividend yield for the trailing twelve months is around 5.91%, less than EMHY's 6.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBX VanEck Emerging Markets Bond ETF | 5.91% | 6.95% | 8.20% | 5.49% | 8.21% | 5.50% | 6.56% | 7.89% | 7.25% | 7.66% | 3.94% | 6.84% |
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 6.41% | 6.52% | 6.86% | 6.73% | 7.08% | 5.58% | 5.44% | 5.72% | 6.79% | 5.59% | 6.43% | 6.99% |
Frequently Asked Questions
EMBX and EMHY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMBX has higher volatility (1.73%) compared to EMHY (1.66%). In terms of maximum drawdown, EMBX dropped -25.11% vs EMHY's -30.11%.
On 10-year performance, EMBX leads with 5.10% vs 4.73% for EMHY. On fees, EMHY is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMBX has performed better with a 5.10% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMHY is cheaper with a 0.50% expense ratio, compared with 0.76% for EMBX.
EMHY has the higher dividend yield at 6.41%, compared with 5.91% for EMBX.
They also come from different issuers: VanEck and iShares. Their fees differ too: 0.76% for EMBX and 0.50% for EMHY.
EMBX currently has the higher Sharpe Ratio (2.66 vs 2.30), 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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