IEMG vs. BBEM
IEMG (iShares Core MSCI Emerging Markets ETF) and BBEM (JPMorgan Betabuilders Emerging Markets Equity ETF) are both Emerging Markets Diversified funds - IEMG tracks the MSCI Emerging Markets Investable Market Index (USD) (Net) while BBEM tracks the Morningstar Emerging Markets Target Market Exposure Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, IEMG returned 22.21%/yr vs 21.70%/yr for BBEM. With a 0.98 correlation, they move nearly in lockstep. IEMG charges 0.09%/yr vs 0.15%/yr for BBEM.
Performance
IEMG vs. BBEM - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IEMG having a 22.14% return and BBEM slightly higher at 22.76%.
IEMG
- 1D
- 0.16%
- 1M
- 1.90%
- YTD
- 22.14%
- 6M
- 22.65%
- 1Y
- 40.36%
- 3Y*
- 22.21%
- 5Y*
- 6.93%
- 10Y*
- 10.40%
BBEM
- 1D
- 0.14%
- 1M
- 2.74%
- YTD
- 22.76%
- 6M
- 22.97%
- 1Y
- 42.12%
- 3Y*
- 21.70%
- 5Y*
- —
- 10Y*
- —
IEMG vs. BBEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 22.14% | 32.56% | 6.50% | 7.10% |
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF | 22.76% | 32.43% | 5.61% | 6.01% |
Correlation
The correlation between IEMG and BBEM is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since May 11, 2023 | 0.98 |
The correlation between IEMG and BBEM has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
IEMG vs. BBEM — Risk / Return Rank
IEMG
BBEM
IEMG vs. BBEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM). 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.
| IEMG | BBEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.23 | -0.16 |
| Martin ratioReturn relative to average drawdown | 11.18 | 11.98 | -0.80 |
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Drawdowns
IEMG vs. BBEM - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, which is greater than BBEM's maximum drawdown of -17.42%. Use the drawdown chart below to compare losses from any high point for IEMG and BBEM.
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Drawdown Indicators
| IEMG | BBEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -17.42% | -21.29% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -13.12% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -17.42% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | — | — |
Current DrawdownCurrent decline from peak | -5.29% | -5.21% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -12.93% | -3.71% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 3.52% | +0.10% |
Volatility
IEMG vs. BBEM - Volatility Comparison
iShares Core MSCI Emerging Markets ETF (IEMG) and JPMorgan Betabuilders Emerging Markets Equity ETF (BBEM) have volatilities of 12.22% and 12.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMG | BBEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.22% | 12.31% | -0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 20.12% | 20.37% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.11% | 22.25% | -0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 18.42% | +0.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.19% | 18.42% | +1.77% |
IEMG vs. BBEM - Expense Ratio Comparison
IEMG has a 0.09% expense ratio, which is lower than BBEM's 0.15% 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%.
Dividends
IEMG vs. BBEM - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.21%, less than BBEM's 4.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BBEM JPMorgan Betabuilders Emerging Markets Equity ETF | 4.72% | 5.86% | 2.73% | 1.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.21% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
With a correlation of 0.98, IEMG and BBEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BBEM has higher volatility (12.31%) compared to IEMG (12.22%). In terms of maximum drawdown, IEMG dropped -38.71% vs BBEM's -17.42%.
On 3-year performance, IEMG leads with 22.21% vs 21.70% for BBEM. On fees, IEMG is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IEMG has performed better with a 22.21% return vs 21.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IEMG is cheaper with a 0.09% expense ratio, compared with 0.15% for BBEM.
BBEM has the higher dividend yield at 4.72%, compared with 2.21% for IEMG.
IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while BBEM tracks Morningstar Emerging Markets Target Market Exposure Index - Benchmark TR Net. They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.09% for IEMG and 0.15% for BBEM.
BBEM currently has the higher Sharpe Ratio (1.91 vs 1.84), 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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