IBMQ vs. NEMD

Last updated Jul 14, 2026

IBMQ (iShares iBonds Dec 2028 Term Muni Bond ETF) and NEMD (Neuberger Berman Emerging Markets Debt Hard Currency ETF) are both exchange-traded funds - IBMQ is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Callable-Adjusted Dec 2028 Index, while NEMD is a Emerging Markets Bonds fund actively managed by Neuberger Berman. IBMQ is passively managed, while NEMD is actively managed. At a 0.26 correlation, their price movements are largely independent. IBMQ charges 0.18%/yr vs 0.60%/yr for NEMD.

Performance

IBMQ vs. NEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBMQ achieves a 1.08% return, which is significantly lower than NEMD's 3.89% return.

IBMQ

• 1D: -0.08%
• 1M: 0.23%
• 6M: 0.78%
• YTD: 1.08%
• 1Y: 2.85%
• 3Y*: 2.85%
• 5Y*: 0.43%
• 10Y*: —

NEMD

• 1D: -0.73%
• 1M: -0.53%
• 6M: 3.30%
• YTD: 3.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBMQ vs. NEMD - Yearly Performance Comparison

	2026 (YTD)	2025
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF	1.08%	1.07%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	3.89%	7.10%

Correlation

The correlation between IBMQ and NEMD is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 11, 2025	0.26

Return for Risk

IBMQ vs. NEMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBMQ

IBMQ Risk / Return Rank: 78
IBMQ Sharpe Ratio Rank: 90
IBMQ Sortino Ratio Rank: 92
IBMQ Omega Ratio Rank: 92
IBMQ Calmar Ratio Rank: 64
IBMQ Martin Ratio Rank: 50

NEMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

IBMQ vs. NEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2028 Term Muni Bond ETF (IBMQ) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). 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.

	IBMQ	NEMD	Difference
Sharpe ratio: Return per unit of total volatility	2.41	—	—
Sortino ratio: Return per unit of downside risk	3.61	—	—
Omega ratio: Gain probability vs. loss probability	1.49	—	—
Calmar ratio: Return relative to maximum drawdown	2.54	—	—
Martin ratio: Return relative to average drawdown	6.68	—	—

Drawdowns

IBMQ vs. NEMD - Drawdown Comparison

The maximum IBMQ drawdown since its inception was -15.85%, which is greater than NEMD's maximum drawdown of -4.43%. Use the drawdown chart below to compare losses from any high point for IBMQ and NEMD.

Drawdown Indicators

	IBMQ	NEMD	Difference
Max Drawdown Largest peak-to-trough decline	-15.85%	-4.43%	-11.42%
Max Drawdown (1Y) Largest decline over 1 year	-1.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.51%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.95%	+0.87%
Average Drawdown Average peak-to-trough decline	-3.21%	-0.56%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	—	—

Volatility

Volatility by Period

	IBMQ	NEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.19%	6.55%	-5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	6.55%	-3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.51%	6.55%	-1.04%

IBMQ vs. NEMD - Expense Ratio Comparison

IBMQ has a 0.18% expense ratio, which is lower than NEMD's 0.60% expense ratio.

Dividends

IBMQ vs. NEMD - Dividend Comparison

IBMQ's dividend yield for the trailing twelve months is around 2.44%, less than NEMD's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBMQ iShares iBonds Dec 2028 Term Muni Bond ETF	2.44%	2.43%	2.33%	1.93%	1.25%	1.05%	1.24%	1.03%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	5.25%	2.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBMQ and NEMD in my portfolio?

IBMQ and NEMD have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBMQ or NEMD?

On fees, IBMQ is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBMQ or NEMD?

IBMQ is cheaper with a 0.18% expense ratio, compared with 0.60% for NEMD.

Which ETF pays a higher dividend yield, IBMQ or NEMD?

NEMD has the higher dividend yield at 5.25%, compared with 2.44% for IBMQ.

What is the main difference between IBMQ and NEMD?

IBMQ is categorized as Municipal Bonds, while NEMD is Emerging Markets Bonds. They also come from different issuers: iShares and Neuberger Berman. Their fees differ too: 0.18% for IBMQ and 0.60% for NEMD.