EMHY vs. EMCB

Last updated Jun 4, 2026

EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both Emerging Markets Bonds funds. EMHY is passively managed, while EMCB is actively managed. Over the past 10 years, EMHY returned 4.73%/yr vs 4.20%/yr for EMCB. At a 0.39 correlation, their price movements are largely independent. EMHY charges 0.50%/yr vs 0.60%/yr for EMCB.

Performance

EMHY vs. EMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMHY achieves a 2.80% return, which is significantly higher than EMCB's 2.03% return. Over the past 10 years, EMHY has outperformed EMCB with an annualized return of 4.73%, while EMCB has yielded a comparatively lower 4.20% annualized return.

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%

EMCB

• 1D: 0.09%
• 1M: 0.53%
• YTD: 2.03%
• 6M: 2.01%
• 1Y: 7.19%
• 3Y*: 7.97%
• 5Y*: 2.17%
• 10Y*: 4.20%

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

EMHY vs. EMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
EMCB WisdomTree Emerging Markets Corporate Bond Fund	2.03%	8.19%	7.11%	8.76%	-12.98%	-0.62%	8.60%	13.43%	-3.07%	9.47%

Correlation

The correlation between EMHY and EMCB is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Apr 4, 2012	0.39

The correlation between EMHY and EMCB shifts across timeframes, from 0.38 (3 years) to 0.53 (5 years), reflecting how their relationship changes across market environments.

EMHY vs. EMCB - Sectors Allocation Comparison

Sectors	EMHY	EMCB
Industrials	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

EMHY vs. EMCB — Risk / Return Rank

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

EMHY

EMHY Risk / Return Rank: 71
EMHY Sharpe Ratio Rank: 69
EMHY Sortino Ratio Rank: 75
EMHY Omega Ratio Rank: 77
EMHY Calmar Ratio Rank: 60
EMHY Martin Ratio Rank: 72

EMCB

EMCB Risk / Return Rank: 51
EMCB Sharpe Ratio Rank: 50
EMCB Sortino Ratio Rank: 51
EMCB Omega Ratio Rank: 57
EMCB Calmar Ratio Rank: 48
EMCB Martin Ratio Rank: 49

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.

EMHY vs. EMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM High Yield Bond ETF (EMHY) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.

	EMHY	EMCB	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.75	+0.56
Sortino ratio: Return per unit of downside risk	3.44	2.51	+0.93
Omega ratio: Gain probability vs. loss probability	1.47	1.35	+0.11
Calmar ratio: Return relative to maximum drawdown	3.00	2.36	+0.64
Martin ratio: Return relative to average drawdown	13.63	8.34	+5.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMHY vs. EMCB - Sharpe Ratio Comparison

The current EMHY Sharpe Ratio is 2.30, which is higher than the EMCB Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of EMHY and EMCB, 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

	EMHY	EMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.75	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.31	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.50	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.46	+0.04

Drawdowns

EMHY vs. EMCB - Drawdown Comparison

The maximum EMHY drawdown since its inception was -30.11%, which is greater than EMCB's maximum drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for EMHY and EMCB.

Drawdown Indicators

	EMHY	EMCB	Difference
Max Drawdown Largest peak-to-trough decline	-30.11%	-22.81%	-7.30%
Max Drawdown (1Y) Largest decline over 1 year	-4.34%	-3.07%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-5.95%	-4.20%	-1.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.83%	-21.50%	-4.33%
Max Drawdown (10Y) Largest decline over 10 years	-30.11%	-22.81%	-7.30%
Current Drawdown Current decline from peak	-0.37%	-0.64%	+0.27%
Average Drawdown Average peak-to-trough decline	-4.90%	-4.23%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.86%	+0.09%

Volatility

EMHY vs. EMCB - Volatility Comparison

iShares J.P. Morgan EM High Yield Bond ETF (EMHY) has a higher volatility of 1.66% compared to WisdomTree Emerging Markets Corporate Bond Fund (EMCB) at 1.55%. This indicates that EMHY's price experiences larger fluctuations and is considered to be riskier than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMHY	EMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	1.55%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	2.89%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	5.65%	4.16%	+1.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.10%	6.94%	+2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.66%	8.48%	+2.18%

EMHY vs. EMCB - Expense Ratio Comparison

EMHY has a 0.50% expense ratio, which is lower than EMCB's 0.60% expense ratio.

Dividends

EMHY vs. EMCB - Dividend Comparison

EMHY's dividend yield for the trailing twelve months is around 6.41%, more than EMCB's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMCB WisdomTree Emerging Markets Corporate Bond Fund	5.35%	5.47%	5.29%	5.09%	4.04%	3.43%	3.85%	4.17%	4.20%	4.04%	4.08%	5.09%
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

Can I hold both EMHY and EMCB in my portfolio?

EMHY and EMCB have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMHY or EMCB?

EMHY has higher volatility (1.66%) compared to EMCB (1.55%). In terms of maximum drawdown, EMHY dropped -30.11% vs EMCB's -22.81%.

Which ETF is better, EMHY or EMCB?

On 10-year performance, EMHY leads with 4.73% vs 4.20% for EMCB. On fees, EMHY is cheaper at 0.50% per year. On volatility, EMCB has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMHY or EMCB?

Over the 10-year period, EMHY has performed better with a 4.73% return vs 4.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMHY or EMCB?

EMHY is cheaper with a 0.50% expense ratio, compared with 0.60% for EMCB.

Which ETF pays a higher dividend yield, EMHY or EMCB?

EMHY has the higher dividend yield at 6.41%, compared with 5.35% for EMCB.

What is the main difference between EMHY and EMCB?

They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for EMHY and 0.60% for EMCB.

Which has better risk-adjusted returns?

EMHY currently has the higher Sharpe Ratio (2.30 vs 1.75), 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.