JPMB vs. EMHY
JPMB (JPMorgan USD Emerging Markets Sovereign Bond ETF) and EMHY (iShares J.P. Morgan EM High Yield Bond ETF) are both Emerging Markets Bonds funds - JPMB tracks the J.P. Morgan Emerging Markets Risk-Aware Bond Index while EMHY tracks the J.P. Morgan USD Emerging Markets High Yield Bond Index. Both are passively managed. Over the past 5 years, JPMB returned 1.42%/yr vs 4.36%/yr for EMHY. Their correlation of 0.82 suggests significant overlap in exposure. JPMB charges 0.39%/yr vs 0.50%/yr for EMHY.
Performance
JPMB vs. EMHY - Performance Comparison
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Returns By Period
In the year-to-date period, JPMB achieves a 1.95% return, which is significantly lower than EMHY's 3.26% return.
JPMB
- 1D
- -0.11%
- 1M
- 1.76%
- YTD
- 1.95%
- 6M
- 1.93%
- 1Y
- 10.60%
- 3Y*
- 7.78%
- 5Y*
- 1.42%
- 10Y*
- —
EMHY
- 1D
- -0.15%
- 1M
- 1.64%
- YTD
- 3.26%
- 6M
- 3.35%
- 1Y
- 12.55%
- 3Y*
- 12.57%
- 5Y*
- 4.36%
- 10Y*
- 4.67%
JPMB vs. EMHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 1.95% | 13.73% | 1.46% | 9.48% | -16.05% | -2.26% | 5.36% | 17.71% | -4.74% |
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 3.26% | 13.70% | 11.97% | 11.47% | -13.03% | -1.91% | 3.83% | 12.98% | -5.35% |
Correlation
The correlation between JPMB and EMHY is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2018 | 0.82 |
The correlation between JPMB and EMHY has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
JPMB vs. EMHY — Risk / Return Rank
JPMB
EMHY
JPMB vs. EMHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) and iShares J.P. Morgan EM High Yield Bond ETF (EMHY). 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.
| JPMB | EMHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.44 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.90 | -0.59 |
| Martin ratioReturn relative to average drawdown | 9.81 | 13.15 | -3.35 |
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Drawdowns
JPMB vs. EMHY - Drawdown Comparison
The maximum JPMB drawdown since its inception was -26.33%, smaller than the maximum EMHY drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for JPMB and EMHY.
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Drawdown Indicators
| JPMB | EMHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.33% | -30.11% | +3.78% |
Max Drawdown (1Y)Largest decline over 1 year | -4.61% | -4.34% | -0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -7.53% | -5.95% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -26.16% | -25.83% | -0.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.11% | — |
Current DrawdownCurrent decline from peak | -0.53% | -0.47% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -7.02% | -4.88% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.96% | +0.12% |
Volatility
JPMB vs. EMHY - Volatility Comparison
JPMorgan USD Emerging Markets Sovereign Bond ETF (JPMB) has a higher volatility of 1.79% compared to iShares J.P. Morgan EM High Yield Bond ETF (EMHY) at 1.58%. This indicates that JPMB's price experiences larger fluctuations and is considered to be riskier than EMHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JPMB | EMHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 1.58% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.53% | 4.43% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.43% | 5.74% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.94% | 9.11% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.63% | 10.66% | -1.03% |
JPMB vs. EMHY - Expense Ratio Comparison
JPMB has a 0.39% expense ratio, which is lower than EMHY's 0.50% expense ratio.
Dividends
JPMB vs. EMHY - Dividend Comparison
JPMB's dividend yield for the trailing twelve months is around 5.78%, less than EMHY's 6.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMHY iShares J.P. Morgan EM High Yield Bond ETF | 6.38% | 6.52% | 6.86% | 6.73% | 7.08% | 5.58% | 5.44% | 5.72% | 6.79% | 5.59% | 6.43% | 6.99% |
JPMB JPMorgan USD Emerging Markets Sovereign Bond ETF | 5.78% | 6.71% | 6.32% | 5.99% | 4.94% | 4.29% | 4.29% | 4.51% | 4.58% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JPMB and EMHY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
JPMB has higher volatility (1.79%) compared to EMHY (1.58%). In terms of maximum drawdown, JPMB dropped -26.33% vs EMHY's -30.11%.
On 5-year performance, EMHY leads with 4.36% vs 1.42% for JPMB. On fees, JPMB is cheaper at 0.39% per year. On volatility, EMHY has been the lower-risk option at 1.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMHY has performed better with a 4.36% return vs 1.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
JPMB is cheaper with a 0.39% expense ratio, compared with 0.50% for EMHY.
EMHY has the higher dividend yield at 6.38%, compared with 5.78% for JPMB.
JPMB tracks J.P. Morgan Emerging Markets Risk-Aware Bond Index, while EMHY tracks J.P. Morgan USD Emerging Markets High Yield Bond Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.39% for JPMB and 0.50% for EMHY.
EMHY currently has the higher Sharpe Ratio (2.20 vs 1.96), 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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