FNMIX vs. EMB
FNMIX (Fidelity New Markets Income Fund) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both Emerging Markets Bonds funds. Over the past 10 years, FNMIX returned 3.39%/yr vs 2.84%/yr for EMB. Their 0.66 correlation means they have sometimes moved together and sometimes differently. FNMIX charges 0.80%/yr vs 0.39%/yr for EMB.
Performance
FNMIX vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, FNMIX achieves a 2.66% return, which is significantly higher than EMB's 0.90% return. Over the past 10 years, FNMIX has outperformed EMB with an annualized return of 3.39%, while EMB has yielded a comparatively lower 2.84% annualized return.
FNMIX
- 1D
- -0.22%
- 1M
- -1.50%
- 6M
- 1.15%
- YTD
- 2.66%
- 1Y
- 10.22%
- 3Y*
- 10.65%
- 5Y*
- 3.44%
- 10Y*
- 3.39%
- ALL TIME*
- 8.35%
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 | |
| $0.00 | $0.00 | $0.00 |
FNMIX vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNMIX Fidelity New Markets Income Fund | 2.66% | 14.86% | 6.80% | 14.00% | -16.09% | -2.42% | 4.62% | 10.93% | -7.77% | 10.16% |
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 FNMIX and EMB is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2007 | 0.66 |
The correlation between FNMIX and EMB has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
FNMIX vs. EMB — Risk / Return Rank
FNMIX
EMB
FNMIX vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity New Markets Income Fund (FNMIX) 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.
| FNMIX | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.24 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.62 | +1.19 |
| Martin ratioReturn relative to average drawdown | 11.63 | 6.59 | +5.03 |
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Drawdowns
FNMIX vs. EMB - Drawdown Comparison
The maximum FNMIX drawdown since its inception was -42.76%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for FNMIX and EMB.
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Drawdown Indicators
| FNMIX | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.76% | -34.70% | -8.06% |
Max Drawdown (1Y)Largest decline over 1 year | -3.85% | -4.51% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -5.87% | -6.91% | +1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.16% | -28.74% | +1.58% |
Max Drawdown (10Y)Largest decline over 10 years | -27.16% | -28.74% | +1.58% |
Current DrawdownCurrent decline from peak | -1.81% | -1.82% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -5.67% | -5.02% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 1.10% | -0.17% |
Volatility
FNMIX vs. EMB - Volatility Comparison
The current volatility for Fidelity New Markets Income Fund (FNMIX) is 0.89%, while iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) has a volatility of 1.40%. This indicates that FNMIX experiences smaller price fluctuations and is considered to be less risky 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
| FNMIX | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.89% | 1.40% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 3.60% | 4.77% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.46% | 5.67% | -1.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.64% | 9.77% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 9.95% | -3.07% |
FNMIX vs. EMB - Expense Ratio Comparison
FNMIX has a 0.80% expense ratio, which is higher than EMB's 0.39% expense ratio.
Dividends
FNMIX vs. EMB - Dividend Comparison
FNMIX's dividend yield for the trailing twelve months is around 4.58%, less than EMB's 5.14% yield.
| 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% |
FNMIX Fidelity New Markets Income Fund | 4.58% | 5.07% | 4.71% | 5.15% | 3.93% | 3.48% | 4.06% | 4.87% | 4.98% | 5.77% | 6.93% | 4.95% |
Frequently Asked Questions
FNMIX and EMB have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMB has higher volatility (1.40%) compared to FNMIX (0.89%). In terms of maximum drawdown, FNMIX dropped -42.76% vs EMB's -34.70%.
FNMIX currently has the higher Sharpe Ratio (2.42 vs 1.28), 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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