EVH vs. EMB
EVH (Evolent Health, Inc.) is a stock, while EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) is Emerging Markets Bonds fund tracking the J.P. Morgan EMBI Global Core Index. Over the past 10 years, EVH returned -18.37%/yr vs 2.84%/yr for EMB. Their 0.18 correlation means their historical movements had little consistent relationship.
Performance
EVH vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, EVH achieves a -22.75% return, which is significantly lower than EMB's 0.90% return. Over the past 10 years, EVH has underperformed EMB with an annualized return of -18.37%, while EMB has yielded a comparatively higher 2.84% annualized return.
EVH
- 1D
- -2.83%
- 1M
- -45.88%
- 6M
- -3.74%
- YTD
- -22.75%
- 1Y
- -69.04%
- 3Y*
- -53.33%
- 5Y*
- -33.03%
- 10Y*
- -18.37%
- ALL TIME*
- -14.61%
EMB
- 1D
- -0.14%
- 1M
- -1.60%
- 6M
- 0.59%
- YTD
- 0.90%
- 1Y
- 6.95%
- 3Y*
- 8.45%
- 5Y*
- 1.48%
- 10Y*
- 2.84%
- ALL TIME*
- 4.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $536.38M | $549.68M | $593.36M | |
| $20.23M | $15.99M | $13.23M |
EVH vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVH Evolent Health, Inc. | -22.75% | -64.44% | -65.94% | 17.63% | 1.48% | 72.61% | 77.13% | -54.64% | 62.20% | -16.89% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 0.90% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
Correlation
The correlation between EVH and EMB is 0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2015 | 0.18 |
The correlation between EVH and EMB shifts across timeframes, from 0.05 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EVH vs. EMB — Risk / Return Rank
EVH
EMB
EVH vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Evolent Health, Inc. (EVH) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
| EVH | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.82 | 1.24 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.89 | 1.62 | -2.50 |
| Martin ratioReturn relative to average drawdown | -1.29 | 6.59 | -7.88 |
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Drawdowns
EVH vs. EMB - Drawdown Comparison
The maximum EVH drawdown since its inception was -94.54%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for EVH and EMB.
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Drawdown Indicators
| EVH | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.54% | -34.70% | -59.84% |
Max Drawdown (1Y)Largest decline over 1 year | -78.28% | -4.51% | -73.77% |
Max Drawdown (3Y)Largest decline over 3 years | -93.75% | -6.91% | -86.84% |
Max Drawdown (5Y)Largest decline over 5 years | -94.54% | -28.74% | -65.80% |
Max Drawdown (10Y)Largest decline over 10 years | -94.54% | -28.74% | -65.80% |
Current DrawdownCurrent decline from peak | -92.22% | -1.82% | -90.40% |
Average DrawdownAverage peak-to-trough decline | -41.20% | -5.02% | -36.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 54.04% | 1.10% | +52.94% |
Volatility
EVH vs. EMB - Volatility Comparison
Evolent Health, Inc. (EVH) has a higher volatility of 26.53% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.40%. This indicates that EVH's price experiences larger fluctuations and is considered to be riskier than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EVH | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 26.53% | 1.40% | +25.13% |
Volatility (6M)Calculated over the trailing 6-month period | 61.73% | 4.77% | +56.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 78.11% | 5.67% | +72.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.09% | 9.77% | +52.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.37% | 9.95% | +53.42% |
Dividends
EVH vs. EMB - Dividend Comparison
EVH has not paid dividends to shareholders, while EMB's dividend yield for the trailing twelve months is around 5.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 4.71% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
EVH Evolent Health, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EVH and EMB have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVH has higher volatility (26.53%) compared to EMB (1.40%). In terms of maximum drawdown, EVH dropped -94.54% vs EMB's -34.70%.
EMB currently has the higher Sharpe Ratio (1.28 vs -0.89), 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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