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IAGG vs. EMHC
Performance
Return for Risk
Dividends
Drawdowns
Volatility

IAGG vs. EMHC

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core International Aggregate Bond ETF (IAGG) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC).

IAGG and EMHC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IAGG is a passively managed fund by iShares that tracks the performance of the Bloomberg Global Aggregate ex USD 10% Issuer Capped (Hedged) Index. It was launched on Nov 10, 2015. EMHC is a passively managed fund by State Street that tracks the performance of the Bloomberg Emerging USD Bond Core Index - Benchmark TR Net. It was launched on Apr 6, 2021. Both IAGG and EMHC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IAGG vs. EMHC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core International Aggregate Bond ETF (IAGG) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC). The values are adjusted to include any dividend payments, if applicable.

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IAGG vs. EMHC - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IAGG
iShares Core International Aggregate Bond ETF		0.27%3.26%4.51%8.49%-10.86%0.38%
EMHC
SPDR Bloomberg Emerging Markets USD Bond ETF		-1.69%14.07%3.52%10.06%-17.75%1.68%

Returns By Period

In the year-to-date period, IAGG achieves a 0.27% return, which is significantly higher than EMHC's -1.69% return.

IAGG

1D
0.46%
1M
-1.61%
YTD
0.27%
6M
0.89%
1Y
3.40%
3Y*
4.48%
5Y*
0.97%
10Y*
2.23%

EMHC

1D
0.81%
1M
-3.43%
YTD
-1.69%
6M
1.67%
1Y
9.31%
3Y*
7.46%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core International Aggregate Bond ETF

SPDR Bloomberg Emerging Markets USD Bond ETF

Often compared with IAGG:
IAGG vs. BNDXIAGG vs. AGGIAGG vs. IBNDIAGG vs. IUSBIAGG vs. FBIIXIAGG vs. BWXIAGG vs. BND
Often compared with EMHC:
EMHC vs. XEMDEMHC vs. EMBEMHC vs. VEMBXEMHC vs. SPHYEMHC vs. GABFEMHC vs. VEGBXEMHC vs. VWOB

IAGG vs. EMHC - Expense Ratio Comparison

IAGG has a 0.07% expense ratio, which is lower than EMHC's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

EMHC
SPDR Bloomberg Emerging Markets USD Bond ETF
IAGG
iShares Core International Aggregate Bond ETF

Return for Risk

IAGG vs. EMHC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAGG
IAGG Risk / Return Rank: 6969
Overall Rank
IAGG Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IAGG Sortino Ratio Rank: 7575
Sortino Ratio Rank
IAGG Omega Ratio Rank: 6767
Omega Ratio Rank
IAGG Calmar Ratio Rank: 6363
Calmar Ratio Rank
IAGG Martin Ratio Rank: 6868
Martin Ratio Rank
EMHC
EMHC Risk / Return Rank: 7878
Overall Rank
EMHC Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EMHC Sortino Ratio Rank: 7979
Sortino Ratio Rank
EMHC Omega Ratio Rank: 7777
Omega Ratio Rank
EMHC Calmar Ratio Rank: 8080
Calmar Ratio Rank
EMHC Martin Ratio Rank: 8181
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IAGG vs. EMHC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core International Aggregate Bond ETF (IAGG) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC). 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.

IAGGEMHCDifference

Sharpe ratio

Return per unit of total volatility

1.30

1.38

-0.08

Sortino ratio

Return per unit of downside risk

1.84

2.01

-0.17

Omega ratio

Gain probability vs. loss probability

1.23

1.29

-0.05

Calmar ratio

Return relative to maximum drawdown

1.47

2.18

-0.71

Martin ratio

Return relative to average drawdown

6.38

8.84

-2.46

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAGG vs. EMHC - Sharpe Ratio Comparison

The current IAGG Sharpe Ratio is 1.30, which is comparable to the EMHC Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of IAGG and EMHC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

IAGGEMHCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.30

1.38

-0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.22

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.61

0.15

+0.46

Correlation

The correlation between IAGG and EMHC is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IAGG vs. EMHC - Dividend Comparison

IAGG's dividend yield for the trailing twelve months is around 3.29%, less than EMHC's 6.33% yield.

TTM20252024202320222021202020192018201720162015
IAGG
iShares Core International Aggregate Bond ETF		3.29%3.08%4.28%3.55%2.27%1.16%1.95%2.82%3.02%1.74%1.56%0.13%
EMHC
SPDR Bloomberg Emerging Markets USD Bond ETF		6.33%6.16%5.95%5.12%5.11%2.97%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

IAGG vs. EMHC - Drawdown Comparison

The maximum IAGG drawdown since its inception was -13.88%, smaller than the maximum EMHC drawdown of -28.03%. Use the drawdown chart below to compare losses from any high point for IAGG and EMHC.

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Drawdown Indicators

IAGGEMHCDifference

Max Drawdown

Largest peak-to-trough decline

-13.88%

-28.03%

+14.15%

Max Drawdown (1Y)

Largest decline over 1 year

-2.32%

-4.37%

+2.05%

Max Drawdown (5Y)

Largest decline over 5 years

-13.57%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-13.88%

—

—

Current Drawdown

Current decline from peak

-1.61%

-3.44%

+1.83%

Average Drawdown

Average peak-to-trough decline

-2.87%

-10.22%

+7.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

1.08%

-0.54%

Volatility

IAGG vs. EMHC - Volatility Comparison

The current volatility for iShares Core International Aggregate Bond ETF (IAGG) is 1.47%, while SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC) has a volatility of 2.75%. This indicates that IAGG experiences smaller price fluctuations and is considered to be less risky than EMHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAGGEMHCDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.47%

2.75%

-1.28%

Volatility (6M)

Calculated over the trailing 6-month period

1.91%

3.85%

-1.94%

Volatility (1Y)

Calculated over the trailing 1-year period

2.62%

6.76%

-4.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.47%

9.05%

-4.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.03%

9.05%

-5.02%