EMHY vs. XEM-USD
EMHY (iShares J.P. Morgan EM High Yield Bond ETF) is Emerging Markets Bonds fund tracking the J.P. Morgan USD Emerging Markets High Yield Bond Index, while XEM-USD (NEM) is a cryptocurrency. Over the past 5 years, EMHY returned 4.37%/yr vs -68.11%/yr for XEM-USD. At a 0.11 correlation, their price movements are largely independent.
Performance
EMHY vs. XEM-USD - Performance Comparison
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Returns By Period
In the year-to-date period, EMHY achieves a 3.27% return, which is significantly higher than XEM-USD's -60.41% return.
EMHY
- 1D
- -0.04%
- 1M
- -0.06%
- 6M
- 2.99%
- YTD
- 3.27%
- 1Y
- 11.36%
- 3Y*
- 11.73%
- 5Y*
- 4.37%
- 10Y*
- 4.32%
XEM-USD
- 1D
- -4.44%
- 1M
- -12.43%
- 6M
- -52.41%
- YTD
- -60.41%
- 1Y
- -80.54%
- 3Y*
- -74.72%
- 5Y*
- -68.11%
- 10Y*
- —
EMHY vs. XEM-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 3.27% | 13.70% | 11.97% | 11.47% | -13.03% | -1.91% | 3.83% | 12.98% | -5.21% | 2.20% |
XEM-USD NEM | -60.41% | -95.00% | -39.05% | 36.89% | -76.79% | -40.13% | 542.53% | -49.78% | -93.76% | 465.78% |
Correlation
The correlation between EMHY and XEM-USD is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 31, 2017 | 0.11 |
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Return for Risk
EMHY vs. XEM-USD — Risk / Return Rank
EMHY
XEM-USD
EMHY vs. XEM-USD - 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 NEM (XEM-USD). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMHY | XEM-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +4.15 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 0.87 | +0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | -0.91 | +3.54 |
| Martin ratioReturn relative to average drawdown | 11.93 | -1.20 | +13.13 |
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Drawdowns
EMHY vs. XEM-USD - Drawdown Comparison
The maximum EMHY drawdown since its inception was -30.11%, smaller than the maximum XEM-USD drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for EMHY and XEM-USD.
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Drawdown Indicators
| EMHY | XEM-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.11% | -99.98% | +69.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.34% | -88.28% | +83.94% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -99.34% | +93.39% |
Max Drawdown (5Y)Largest decline over 5 years | -25.83% | -99.83% | +74.00% |
Max Drawdown (10Y)Largest decline over 10 years | -30.11% | — | — |
Current DrawdownCurrent decline from peak | -0.57% | -99.97% | +99.40% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -90.18% | +85.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 48.92% | -47.97% |
Volatility
EMHY vs. XEM-USD - Volatility Comparison
The current volatility for iShares J.P. Morgan EM High Yield Bond ETF (EMHY) is 1.05%, while NEM (XEM-USD) has a volatility of 83.50%. This indicates that EMHY experiences smaller price fluctuations and is considered to be less risky than XEM-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHY | XEM-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 83.50% | -82.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 94.45% | -89.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.65% | 116.38% | -110.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.11% | 95.88% | -86.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.64% | 107.22% | -96.58% |
Frequently Asked Questions
EMHY and XEM-USD have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XEM-USD has higher volatility (83.50%) compared to EMHY (1.05%). In terms of maximum drawdown, EMHY dropped -30.11% vs XEM-USD's -99.98%.
EMHY currently has the higher Sharpe Ratio (2.02 vs -0.58), 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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