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EMHY vs. FLOT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMHY vs. FLOT

Last updated Jun 9, 2026

EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and FLOT (iShares Floating Rate Bond ETF) are both exchange-traded funds - EMHY is a Emerging Markets Bonds fund tracking the J.P. Morgan USD Emerging Markets High Yield Bond Index, while FLOT is a Ultrashort Bond fund tracking the Bloomberg US Floating Rate Note < 5 Years Index. Both are passively managed. Over the past 10 years, EMHY returned 4.59%/yr vs 3.03%/yr for FLOT. At a 0.14 correlation, their price movements are largely independent. EMHY charges 0.50%/yr vs 0.15%/yr for FLOT.

Performance

EMHY vs. FLOT - 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 iShares Floating Rate Bond ETF (FLOT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMHY achieves a 2.47% return, which is significantly higher than FLOT's 1.87% return. Over the past 10 years, EMHY has outperformed FLOT with an annualized return of 4.59%, while FLOT has yielded a comparatively lower 3.03% annualized return.

EMHY

1D
0.00%
1M
-0.15%
YTD
2.47%
6M
3.73%
1Y
12.80%
3Y*
12.59%
5Y*
4.11%
10Y*
4.59%

FLOT

1D
0.00%
1M
0.41%
YTD
1.87%
6M
2.15%
1Y
4.85%
3Y*
5.60%
5Y*
4.20%
10Y*
3.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMHY vs. FLOT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		2.47%13.70%11.97%11.47%-13.03%-1.91%3.83%12.98%-5.21%8.54%
FLOT
iShares Floating Rate Bond ETF		1.87%4.91%6.53%6.43%1.28%0.45%0.87%3.97%1.48%1.65%

Correlation

The correlation between EMHY and FLOT is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.28

Correlation (10Y)
Calculated over the trailing 10-year period

0.18

Correlation (All Time)
Calculated using the full available price history since Apr 4, 2012

0.14

The correlation between EMHY and FLOT shifts across timeframes, from 0.14 (all time) to 0.29 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares J.P. Morgan EM High Yield Bond ETF

iShares Floating Rate Bond ETF

Often compared with EMHY:
EMHY vs. HYEMEMHY vs. VWOBEMHY vs. EMBEMHY vs. EMLCEMHY vs. USHYEMHY vs. PCYEMHY vs. BKHY
Often compared with FLOT:
FLOT vs. SGOVFLOT vs. USFRFLOT vs. FLTRFLOT vs. FLRNFLOT vs. FLOA.LFLOT vs. NEARFLOT vs. IUSB

Return for Risk

EMHY vs. FLOT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMHY
EMHY Risk / Return Rank: 7878
Overall Rank
EMHY Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
EMHY Sortino Ratio Rank: 8383
Sortino Ratio Rank
EMHY Omega Ratio Rank: 8484
Omega Ratio Rank
EMHY Calmar Ratio Rank: 6565
Calmar Ratio Rank
EMHY Martin Ratio Rank: 7777
Martin Ratio Rank
FLOT
FLOT Risk / Return Rank: 9999
Overall Rank
FLOT Sharpe Ratio Rank: 9999
Sharpe Ratio Rank
FLOT Sortino Ratio Rank: 9999
Sortino Ratio Rank
FLOT Omega Ratio Rank: 9999
Omega Ratio Rank
FLOT Calmar Ratio Rank: 9898
Calmar Ratio Rank
FLOT Martin Ratio Rank: 9999
Martin Ratio Rank
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. FLOT - 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 iShares Floating Rate Bond ETF (FLOT). 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.

EMHYFLOTDifference
Sharpe ratioReturn per unit of total volatility
2.27
6.54

-4.27

Sortino ratioReturn per unit of downside risk
3.37
11.79

-8.42

Omega ratioGain probability vs. loss probability

1.46

3.22

-1.77

Calmar ratioReturn relative to maximum drawdown

2.96

11.27

-8.31

Martin ratioReturn relative to average drawdown

13.44

104.83

-91.39

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. FLOT - Sharpe Ratio Comparison

The current EMHY Sharpe Ratio is 2.27, which is lower than the FLOT Sharpe Ratio of 6.54. The chart below compares the historical Sharpe Ratios of EMHY and FLOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EMHYFLOTDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.27

6.54

-4.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.45

2.38

-1.93

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

0.73

-0.30

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.66

-0.16

Drawdowns

EMHY vs. FLOT - Drawdown Comparison

The maximum EMHY drawdown since its inception was -30.11%, which is greater than FLOT's maximum drawdown of -13.54%. Use the drawdown chart below to compare losses from any high point for EMHY and FLOT.

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Drawdown Indicators

EMHYFLOTDifference

Max Drawdown

Largest peak-to-trough decline

-30.11%

-13.54%

-16.57%

Max Drawdown (1Y)

Largest decline over 1 year

-4.34%

-0.43%

-3.91%

Max Drawdown (3Y)

Largest decline over 3 years

-5.95%

-1.57%

-4.38%

Max Drawdown (5Y)

Largest decline over 5 years

-25.83%

-2.36%

-23.47%

Max Drawdown (10Y)

Largest decline over 10 years

-30.11%

-13.54%

-16.57%

Current Drawdown

Current decline from peak

-0.69%

-0.02%

-0.67%

Average Drawdown

Average peak-to-trough decline

-4.89%

-0.21%

-4.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

0.05%

+0.90%

Volatility

EMHY vs. FLOT - Volatility Comparison

iShares J.P. Morgan EM High Yield Bond ETF (EMHY) has a higher volatility of 1.60% compared to iShares Floating Rate Bond ETF (FLOT) at 0.20%. This indicates that EMHY's price experiences larger fluctuations and is considered to be riskier than FLOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMHYFLOTDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.60%

0.20%

+1.40%

Volatility (6M)

Calculated over the trailing 6-month period

4.34%

0.62%

+3.72%

Volatility (1Y)

Calculated over the trailing 1-year period

5.69%

0.75%

+4.94%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.10%

1.77%

+7.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.66%

4.15%

+6.51%

EMHY vs. FLOT - Expense Ratio Comparison

EMHY has a 0.50% expense ratio, which is higher than FLOT's 0.15% expense ratio.

Dividends

EMHY vs. FLOT - Dividend Comparison

EMHY's dividend yield for the trailing twelve months is around 6.43%, more than FLOT's 4.54% yield.

PositionTTM20252024202320222021202020192018201720162015
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		6.43%6.52%6.86%6.73%7.08%5.58%5.44%5.72%6.79%5.59%6.43%6.99%
FLOT
iShares Floating Rate Bond ETF		4.54%4.84%5.82%5.66%2.06%0.43%1.25%2.78%2.41%1.46%0.97%0.53%

Frequently Asked Questions

EMHY and FLOT have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMHY has higher volatility (1.60%) compared to FLOT (0.20%). In terms of maximum drawdown, EMHY dropped -30.11% vs FLOT's -13.54%.

On 10-year performance, EMHY leads with 4.59% vs 3.03% for FLOT. On fees, FLOT is cheaper at 0.15% per year. On volatility, FLOT has been the lower-risk option at 0.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EMHY has performed better with a 4.59% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FLOT is cheaper with a 0.15% expense ratio, compared with 0.50% for EMHY.

EMHY has the higher dividend yield at 6.43%, compared with 4.54% for FLOT.

EMHY is categorized as Emerging Markets Bonds, while FLOT is Ultrashort Bond. EMHY tracks J.P. Morgan USD Emerging Markets High Yield Bond Index, while FLOT tracks Bloomberg US Floating Rate Note < 5 Years Index. Their fees differ too: 0.50% for EMHY and 0.15% for FLOT.

FLOT currently has the higher Sharpe Ratio (6.54 vs 2.27), 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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