EMHC vs. BEMB
EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) and BEMB (Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF) are both Emerging Markets Bonds funds. EMHC is passively managed, while BEMB is actively managed. Over the past 3 years, EMHC returned 8.74%/yr vs 8.80%/yr for BEMB. Their correlation of 0.94 suggests significant overlap in exposure. EMHC charges 0.23%/yr vs 0.18%/yr for BEMB.
Performance
EMHC vs. BEMB - Performance Comparison
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Returns By Period
In the year-to-date period, EMHC achieves a 1.57% return, which is significantly higher than BEMB's 1.27% return.
EMHC
- 1D
- -0.32%
- 1M
- 1.13%
- YTD
- 1.57%
- 6M
- 1.74%
- 1Y
- 11.54%
- 3Y*
- 8.74%
- 5Y*
- 1.55%
- 10Y*
- —
BEMB
- 1D
- -0.34%
- 1M
- 0.94%
- YTD
- 1.27%
- 6M
- 1.64%
- 1Y
- 9.77%
- 3Y*
- 8.80%
- 5Y*
- —
- 10Y*
- —
EMHC vs. BEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 1.57% | 14.07% | 3.52% | 9.07% |
BEMB Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF | 1.27% | 12.27% | 5.51% | 8.88% |
Correlation
The correlation between EMHC and BEMB 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 EMHC and BEMB has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
EMHC vs. BEMB — Risk / Return Rank
EMHC
BEMB
EMHC vs. BEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) and Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB). 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.
| EMHC | BEMB | 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 | 1.41 | 1.45 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.68 | -0.03 |
| Martin ratioReturn relative to average drawdown | 11.09 | 11.53 | -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
| EMHC | BEMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.14 | 2.30 | -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 | 0.22 | 1.45 | -1.24 |
Drawdowns
EMHC vs. BEMB - Drawdown Comparison
The maximum EMHC drawdown since its inception was -28.03%, which is greater than BEMB's maximum drawdown of -6.17%. Use the drawdown chart below to compare losses from any high point for EMHC and BEMB.
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Drawdown Indicators
| EMHC | BEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.03% | -6.17% | -21.86% |
Max Drawdown (1Y)Largest decline over 1 year | -4.37% | -3.67% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -7.67% | -6.17% | -1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -28.03% | — | — |
Current DrawdownCurrent decline from peak | -0.32% | -0.34% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -9.91% | -0.94% | -8.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.85% | +0.19% |
Volatility
EMHC vs. BEMB - Volatility Comparison
SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) has a higher volatility of 1.89% compared to Ishares J.P. Morgan Broad USD Emerging Markets Bond ETF (BEMB) at 1.49%. This indicates that EMHC's price experiences larger fluctuations and is considered to be riskier than BEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHC | BEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 1.49% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 3.46% | +0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 4.26% | +1.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.06% | 5.88% | +3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.96% | 5.88% | +3.08% |
EMHC vs. BEMB - Expense Ratio Comparison
EMHC has a 0.23% expense ratio, which is higher than BEMB's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMHC vs. BEMB - Dividend Comparison
EMHC's dividend yield for the trailing twelve months is around 6.11%, less than BEMB's 6.88% 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, EMHC and BEMB 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, EMHC dropped -28.03% vs BEMB's -6.17%.
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: State Street and iShares. Their fees differ too: 0.23% for EMHC and 0.18% for BEMB.
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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