EMHY vs. XEMD
EMHY (iShares J.P. Morgan EM High Yield Bond ETF) and XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) are both Emerging Markets Bonds funds - EMHY tracks the J.P. Morgan USD Emerging Markets High Yield Bond Index while XEMD tracks the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EMHY returned 13.15%/yr vs 11.23%/yr for XEMD. Their correlation of 0.90 suggests significant overlap in exposure. EMHY charges 0.50%/yr vs 0.29%/yr for XEMD.
Performance
EMHY vs. XEMD - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMHY having a 2.80% return and XEMD slightly lower at 2.75%.
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%
XEMD
- 1D
- -0.37%
- 1M
- 1.21%
- YTD
- 2.75%
- 6M
- 3.27%
- 1Y
- 11.88%
- 3Y*
- 11.23%
- 5Y*
- —
- 10Y*
- —
EMHY vs. XEMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 2.80% | 13.70% | 11.97% | 11.47% | 6.06% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2.75% | 13.98% | 8.77% | 10.26% | 1.82% |
Correlation
The correlation between EMHY and XEMD is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022 | 0.90 |
The correlation between EMHY and XEMD has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
EMHY vs. XEMD — Risk / Return Rank
EMHY
XEMD
EMHY vs. XEMD - 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 BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD). 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 | XEMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.44 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.51 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 3.39 | -0.39 |
| Martin ratioReturn relative to average drawdown | 13.63 | 15.27 | -1.64 |
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
| EMHY | XEMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.57 | -0.26 |
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 | 1.39 | -0.89 |
Drawdowns
EMHY vs. XEMD - Drawdown Comparison
The maximum EMHY drawdown since its inception was -30.11%, which is greater than XEMD's maximum drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for EMHY and XEMD.
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Drawdown Indicators
| EMHY | XEMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.11% | -10.01% | -20.10% |
Max Drawdown (1Y)Largest decline over 1 year | -4.34% | -3.52% | -0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -5.95% | -4.31% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -25.83% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.11% | — | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.37% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.90% | -1.26% | -3.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.78% | +0.17% |
Volatility
EMHY vs. XEMD - Volatility Comparison
iShares J.P. Morgan EM High Yield Bond ETF (EMHY) has a higher volatility of 1.66% compared to BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) at 1.43%. This indicates that EMHY's price experiences larger fluctuations and is considered to be riskier than XEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHY | XEMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.66% | 1.43% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 4.31% | 3.70% | +0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.65% | 4.66% | +0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.10% | 6.88% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.66% | 6.88% | +3.78% |
EMHY vs. XEMD - Expense Ratio Comparison
EMHY has a 0.50% expense ratio, which is higher than XEMD's 0.29% expense ratio.
Dividends
EMHY vs. XEMD - Dividend Comparison
EMHY's dividend yield for the trailing twelve months is around 6.41%, more than XEMD's 5.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 5.82% | 6.15% | 6.30% | 6.19% | 3.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMHY and XEMD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMHY has higher volatility (1.66%) compared to XEMD (1.43%). In terms of maximum drawdown, EMHY dropped -30.11% vs XEMD's -10.01%.
On 3-year performance, EMHY leads with 13.15% vs 11.23% for XEMD. On fees, XEMD is cheaper at 0.29% per year. On volatility, XEMD has been the lower-risk option at 1.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMHY has performed better with a 13.15% return vs 11.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XEMD is cheaper with a 0.29% expense ratio, compared with 0.50% for EMHY.
EMHY has the higher dividend yield at 6.41%, compared with 5.82% for XEMD.
EMHY tracks J.P. Morgan USD Emerging Markets High Yield Bond Index, while XEMD tracks JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross. They also come from different issuers: iShares and BondBloxx. Their fees differ too: 0.50% for EMHY and 0.29% for XEMD.
XEMD currently has the higher Sharpe Ratio (2.57 vs 2.30), 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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