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EMHY vs. NEMD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMHY vs. NEMD

Last updated Jun 4, 2026

EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and NEMD (Neuberger Berman Emerging Markets Debt Hard Currency ETF) are both Emerging Markets Bonds funds. EMHY is passively managed, while NEMD is actively managed. Their correlation of 0.88 suggests significant overlap in exposure. EMHY charges 0.50%/yr vs 0.60%/yr for NEMD.

Performance

EMHY vs. NEMD - 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 Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). 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 2.80% return, which is significantly lower than NEMD's 3.76% 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%

NEMD

1D
-0.39%
1M
1.56%
YTD
3.76%
6M
4.02%
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMHY vs. NEMD - Yearly Performance Comparison

2026 (YTD)2025
EMHY
iShares J.P. Morgan EM High Yield Bond ETF		2.80%5.40%
NEMD
Neuberger Berman Emerging Markets Debt Hard Currency ETF		3.76%7.07%

Correlation

The correlation between EMHY and NEMD is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (All Time)
Calculated using the full available price history since Aug 12, 2025

0.88

EMHY vs. NEMD - Sectors Allocation Comparison

Sectors
EMHY
NEMD

Industrials

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

100.0%

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Industrials

EMHY
100.0%
NEMD

-

Basic Materials

EMHY

-

NEMD

-

Communication Services

EMHY

-

NEMD

-

Consumer Cyclical

EMHY

-

NEMD

-

Consumer Defensive

EMHY

-

NEMD

-

Energy

EMHY

-

NEMD
100.0%

Financial Services

EMHY

-

NEMD

-

Healthcare

EMHY

-

NEMD

-

Real Estate

EMHY

-

NEMD

-

Technology

EMHY

-

NEMD

-

Utilities

EMHY

-

NEMD

-

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iShares J.P. Morgan EM High Yield Bond ETF

Neuberger Berman Emerging Markets Debt Hard Currency ETF

Often compared with EMHY:
EMHY vs. HYEMEMHY vs. VWOBEMHY vs. EMBEMHY vs. EMLCEMHY vs. USHYEMHY vs. PCYEMHY vs. BKHY
Often compared with NEMD:
NEMD vs. NBSDNEMD vs. NBETNEMD vs. GEMDNEMD vs. EMBXNEMD vs. VWOBNEMD vs. NBOSNEMD vs. XEMD

Return for Risk

EMHY vs. NEMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMHY
EMHY Risk / Return Rank: 7171
Overall Rank
EMHY Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
EMHY Sortino Ratio Rank: 7575
Sortino Ratio Rank
EMHY Omega Ratio Rank: 7777
Omega Ratio Rank
EMHY Calmar Ratio Rank: 6060
Calmar Ratio Rank
EMHY Martin Ratio Rank: 7272
Martin Ratio Rank
NEMD
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. NEMD - 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 Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). 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.

EMHYNEMDDifference
Sharpe ratioReturn per unit of total volatility
2.30

—

—

Sortino ratioReturn per unit of downside risk
3.44

—

—

Omega ratioGain probability vs. loss probability

1.47

—

—

Calmar ratioReturn relative to maximum drawdown

3.00

—

—

Martin ratioReturn relative to average drawdown

13.63

—

—

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. NEMD - Sharpe Ratio Comparison

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Sharpe Ratios by Period

EMHYNEMDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.30

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

2.14

-1.64

Drawdowns

EMHY vs. NEMD - Drawdown Comparison

The maximum EMHY drawdown since its inception was -30.11%, which is greater than NEMD's maximum drawdown of -4.43%. Use the drawdown chart below to compare losses from any high point for EMHY and NEMD.

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Drawdown Indicators

EMHYNEMDDifference

Max Drawdown

Largest peak-to-trough decline

-30.11%

-4.43%

-25.68%

Max Drawdown (1Y)

Largest decline over 1 year

-4.34%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-5.95%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-25.83%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-30.11%

—

—

Current Drawdown

Current decline from peak

-0.37%

-0.39%

+0.02%

Average Drawdown

Average peak-to-trough decline

-4.90%

-0.57%

-4.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.95%

—

—

Volatility

EMHY vs. NEMD - Volatility Comparison

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Volatility by Period

EMHYNEMDDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.66%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

4.31%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

5.65%

6.51%

-0.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

9.10%

6.51%

+2.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.66%

6.51%

+4.15%

EMHY vs. NEMD - Expense Ratio Comparison

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

Dividends

EMHY vs. NEMD - Dividend Comparison

EMHY's dividend yield for the trailing twelve months is around 6.41%, more than NEMD's 4.73% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
NEMD
Neuberger Berman Emerging Markets Debt Hard Currency ETF		4.73%2.39%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EMHY and NEMD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMHY is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

EMHY has the higher dividend yield at 6.41%, compared with 4.73% for NEMD.

They also come from different issuers: iShares and Neuberger Berman. Their fees differ too: 0.50% for EMHY and 0.60% for NEMD.

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