JEMB vs. XEMD

Last updated Jun 23, 2026

JEMB (Janus Henderson Emerging Markets Debt Hard Currency ETF) and XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) are both Emerging Markets Bonds funds. JEMB is actively managed, while XEMD is passively managed. Over the past year, JEMB returned 12.78% vs 11.70% for XEMD. At a 0.49 correlation, their price movements are largely independent. JEMB charges 0.52%/yr vs 0.29%/yr for XEMD.

Performance

JEMB vs. XEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) and BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with JEMB having a 3.14% return and XEMD slightly lower at 3.04%.

JEMB

• 1D: -0.67%
• 1M: 1.96%
• YTD: 3.14%
• 6M: 3.53%
• 1Y: 12.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XEMD

• 1D: -0.35%
• 1M: 1.03%
• YTD: 3.04%
• 6M: 3.23%
• 1Y: 11.70%
• 3Y*: 11.00%
• 5Y*: —
• 10Y*: —

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

JEMB vs. XEMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	3.14%	14.63%	0.99%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	3.04%	13.98%	2.45%

Correlation

The correlation between JEMB and XEMD is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Aug 14, 2024	0.49

The correlation between JEMB and XEMD has been stable across timeframes, ranging from 0.49 to 0.52 - a consistent structural relationship.

Return for Risk

JEMB vs. XEMD — Risk / Return Rank

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

JEMB

JEMB Risk / Return Rank: 53
JEMB Sharpe Ratio Rank: 48
JEMB Sortino Ratio Rank: 47
JEMB Omega Ratio Rank: 50
JEMB Calmar Ratio Rank: 57
JEMB Martin Ratio Rank: 64

XEMD

XEMD Risk / Return Rank: 80
XEMD Sharpe Ratio Rank: 80
XEMD Sortino Ratio Rank: 86
XEMD Omega Ratio Rank: 84
XEMD Calmar Ratio Rank: 69
XEMD Martin Ratio Rank: 79

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.

JEMB vs. XEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) and BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD). 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.

	JEMB	XEMD	Difference
Sharpe ratio: Return per unit of total volatility	1.59	2.45	-0.86
Sortino ratio: Return per unit of downside risk	2.29	3.71	-1.41
Omega ratio: Gain probability vs. loss probability	1.31	1.48	-0.17
Calmar ratio: Return relative to maximum drawdown	2.75	3.34	-0.59
Martin ratio: Return relative to average drawdown	11.20	14.92	-3.72

JEMB vs. XEMD - Sharpe Ratio Comparison

The current JEMB Sharpe Ratio is 1.59, which is lower than the XEMD Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of JEMB and XEMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JEMB vs. XEMD - Drawdown Comparison

The maximum JEMB drawdown since its inception was -5.37%, smaller than the maximum XEMD drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for JEMB and XEMD.

Drawdown Indicators

	JEMB	XEMD	Difference
Max Drawdown Largest peak-to-trough decline	-5.37%	-10.01%	+4.64%
Max Drawdown (1Y) Largest decline over 1 year	-4.67%	-3.52%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.31%	—
Current Drawdown Current decline from peak	-0.67%	-0.42%	-0.25%
Average Drawdown Average peak-to-trough decline	-1.00%	-1.25%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	0.79%	+0.35%

Volatility

JEMB vs. XEMD - Volatility Comparison

Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) has a higher volatility of 2.11% compared to BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) at 1.48%. This indicates that JEMB's price experiences larger fluctuations and is considered to be riskier than XEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEMB	XEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.11%	1.48%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	6.45%	3.87%	+2.58%
Volatility (1Y) Calculated over the trailing 1-year period	8.07%	4.80%	+3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.49%	6.88%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.49%	6.88%	+1.61%

JEMB vs. XEMD - Expense Ratio Comparison

JEMB has a 0.52% expense ratio, which is higher than XEMD's 0.29% expense ratio.

Dividends

JEMB vs. XEMD - Dividend Comparison

JEMB's dividend yield for the trailing twelve months is around 6.25%, more than XEMD's 5.81% yield.

Position	TTM	2025	2024	2023	2022
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	6.25%	6.19%	2.53%	0.00%	0.00%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	5.81%	6.15%	6.30%	6.19%	3.08%

Frequently Asked Questions

Can I hold both JEMB and XEMD in my portfolio?

JEMB and XEMD have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEMB or XEMD?

JEMB has higher volatility (2.11%) compared to XEMD (1.48%). In terms of maximum drawdown, JEMB dropped -5.37% vs XEMD's -10.01%.

Which ETF is better, JEMB or XEMD?

On 1-year performance, JEMB leads with 12.78% vs 11.70% for XEMD. On fees, XEMD is cheaper at 0.29% per year. On volatility, XEMD has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JEMB or XEMD?

Over the 1-year period, JEMB has performed better with a 12.78% return vs 11.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMB or XEMD?

XEMD is cheaper with a 0.29% expense ratio, compared with 0.52% for JEMB.

Which ETF pays a higher dividend yield, JEMB or XEMD?

JEMB has the higher dividend yield at 6.25%, compared with 5.81% for XEMD.

What is the main difference between JEMB and XEMD?

They also come from different issuers: Janus Henderson and BondBloxx. Their fees differ too: 0.52% for JEMB and 0.29% for XEMD.

Which has better risk-adjusted returns?

XEMD currently has the higher Sharpe Ratio (2.45 vs 1.59), 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.