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 -12.53%/yr vs 3.30%/yr for EMB. At a 0.18 correlation, their price movements are largely independent.
Performance
EVH vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, EVH achieves a 20.00% return, which is significantly higher than EMB's 2.18% return. Over the past 10 years, EVH has underperformed EMB with an annualized return of -12.53%, while EMB has yielded a comparatively higher 3.30% annualized return.
EVH
- 1D
- 7.14%
- 1M
- 21.52%
- YTD
- 20.00%
- 6M
- 15.38%
- 1Y
- -54.29%
- 3Y*
- -44.48%
- 5Y*
- -25.74%
- 10Y*
- -12.53%
EMB
- 1D
- -0.15%
- 1M
- 1.57%
- YTD
- 2.18%
- 6M
- 2.21%
- 1Y
- 10.82%
- 3Y*
- 9.37%
- 5Y*
- 1.88%
- 10Y*
- 3.30%
EVH vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVH Evolent Health, Inc. | 20.00% | -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 | 2.18% | 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 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 0.02 (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 | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.81 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.37 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 2.41 | -3.08 |
| Martin ratioReturn relative to average drawdown | -0.96 | 10.26 | -11.22 |
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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 | -81.59% | -4.51% | -77.08% |
Max Drawdown (3Y)Largest decline over 3 years | -93.75% | -7.95% | -85.80% |
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 | -87.92% | -0.49% | -87.43% |
Average DrawdownAverage peak-to-trough decline | -40.76% | -5.04% | -35.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 56.87% | 1.06% | +55.81% |
Volatility
EVH vs. EMB - Volatility Comparison
Evolent Health, Inc. (EVH) has a higher volatility of 24.26% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.78%. 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 | 24.26% | 1.78% | +22.48% |
Volatility (6M)Calculated over the trailing 6-month period | 54.86% | 4.68% | +50.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 76.23% | 5.68% | +70.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.68% | 9.76% | +50.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 63.04% | 9.96% | +53.08% |
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 5.04%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.04% | 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 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EVH has higher volatility (24.26%) compared to EMB (1.78%). In terms of maximum drawdown, EVH dropped -94.54% vs EMB's -34.70%.
EMB currently has the higher Sharpe Ratio (1.91 vs -0.73), 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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