IRS vs. EMB
IRS (IRSA Inversiones y Representaciones Sociedad Anónima) 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, IRS returned 3.79%/yr vs 2.87%/yr for EMB. At a 0.23 correlation, their price movements are largely independent.
Performance
IRS vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, IRS achieves a -8.46% return, which is significantly lower than EMB's 1.90% return. Over the past 10 years, IRS has outperformed EMB with an annualized return of 3.79%, while EMB has yielded a comparatively lower 2.87% annualized return.
IRS
- 1D
- -1.69%
- 1M
- -9.93%
- 6M
- -8.69%
- YTD
- -8.46%
- 1Y
- 14.14%
- 3Y*
- 36.50%
- 5Y*
- 37.65%
- 10Y*
- 3.79%
EMB
- 1D
- -0.15%
- 1M
- -0.71%
- 6M
- 1.77%
- YTD
- 1.90%
- 1Y
- 9.82%
- 3Y*
- 8.69%
- 5Y*
- 1.72%
- 10Y*
- 2.87%
IRS vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRS IRSA Inversiones y Representaciones Sociedad Anónima | -8.46% | 21.60% | 103.74% | 99.57% | 17.65% | -5.54% | -33.08% | -45.90% | -53.72% | 76.69% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.90% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
Correlation
The correlation between IRS and EMB is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2007 | 0.23 |
The correlation between IRS and EMB shifts across timeframes, from 0.23 (all time) to 0.38 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
IRS vs. EMB — Risk / Return Rank
IRS
EMB
IRS vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for IRSA Inversiones y Representaciones Sociedad Anónima (IRS) 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.
| IRS | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.34 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 2.19 | -1.73 |
| Martin ratioReturn relative to average drawdown | 0.89 | 9.33 | -8.44 |
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Drawdowns
IRS vs. EMB - Drawdown Comparison
The maximum IRS drawdown since its inception was -92.99%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for IRS and EMB.
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Drawdown Indicators
| IRS | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.99% | -34.70% | -58.29% |
Max Drawdown (1Y)Largest decline over 1 year | -30.64% | -4.51% | -26.13% |
Max Drawdown (3Y)Largest decline over 3 years | -35.01% | -7.95% | -27.06% |
Max Drawdown (5Y)Largest decline over 5 years | -37.93% | -28.74% | -9.19% |
Max Drawdown (10Y)Largest decline over 10 years | -91.24% | -28.74% | -62.50% |
Current DrawdownCurrent decline from peak | -22.46% | -0.86% | -21.60% |
Average DrawdownAverage peak-to-trough decline | -57.30% | -5.03% | -52.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.88% | 1.05% | +14.83% |
Volatility
IRS vs. EMB - Volatility Comparison
IRSA Inversiones y Representaciones Sociedad Anónima (IRS) has a higher volatility of 8.68% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.31%. This indicates that IRS'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
| IRS | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.68% | 1.31% | +7.37% |
Volatility (6M)Calculated over the trailing 6-month period | 30.86% | 4.76% | +26.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.25% | 5.60% | +48.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.63% | 9.76% | +39.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 53.70% | 9.95% | +43.75% |
Dividends
IRS vs. EMB - Dividend Comparison
IRS's dividend yield for the trailing twelve months is around 9.35%, more than EMB's 5.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.09% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
IRS IRSA Inversiones y Representaciones Sociedad Anónima | 9.35% | 8.56% | 10.79% | 18.63% | 3.91% | 0.00% | 1.25% | 0.00% | 0.00% | 9.27% | 0.00% | 0.00% |
Frequently Asked Questions
IRS and EMB have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IRS has higher volatility (8.68%) compared to EMB (1.31%). In terms of maximum drawdown, IRS dropped -92.99% vs EMB's -34.70%.
EMB currently has the higher Sharpe Ratio (1.76 vs 0.26), 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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