LEMB vs. FBIIX
LEMB (iShares J.P. Morgan EM Local Currency Bond ETF) and FBIIX (Fidelity International Bond Index Fund) are both funds - LEMB is a Emerging Markets Bonds fund tracking the J.P. Morgan GBI-EM Global 15 cap 4.5 floor, while FBIIX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Diversified Index (Hedged USD). Both are passively managed. Over the past 5 years, LEMB returned 1.05%/yr vs 0.92%/yr for FBIIX. At a 0.21 correlation, their price movements are largely independent. LEMB charges 0.30%/yr vs 0.06%/yr for FBIIX.
Performance
LEMB vs. FBIIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with LEMB having a 1.66% return and FBIIX slightly lower at 1.60%.
LEMB
- 1D
- 0.17%
- 1M
- 0.74%
- YTD
- 1.66%
- 6M
- 1.64%
- 1Y
- 8.28%
- 3Y*
- 5.75%
- 5Y*
- 1.05%
- 10Y*
- 1.44%
FBIIX
- 1D
- 0.33%
- 1M
- 0.98%
- YTD
- 1.60%
- 6M
- 1.71%
- 1Y
- 2.67%
- 3Y*
- 4.31%
- 5Y*
- 0.92%
- 10Y*
- —
LEMB vs. FBIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 1.66% | 18.02% | -1.72% | 7.23% | -10.74% | -9.92% | 3.10% | 1.93% |
FBIIX Fidelity International Bond Index Fund | 1.60% | 2.66% | 4.64% | 7.48% | -10.84% | -1.84% | 4.43% | -1.13% |
Correlation
The correlation between LEMB and FBIIX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.21 |
The correlation between LEMB and FBIIX shifts across timeframes, from 0.21 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LEMB vs. FBIIX — Risk / Return Rank
LEMB
FBIIX
LEMB vs. FBIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) and Fidelity International Bond Index Fund (FBIIX). 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.
| LEMB | FBIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.40 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.92 | +0.46 |
| Martin ratioReturn relative to average drawdown | 4.54 | 2.50 | +2.04 |
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Drawdowns
LEMB vs. FBIIX - Drawdown Comparison
The maximum LEMB drawdown since its inception was -30.82%, which is greater than FBIIX's maximum drawdown of -13.79%. Use the drawdown chart below to compare losses from any high point for LEMB and FBIIX.
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Drawdown Indicators
| LEMB | FBIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.82% | -13.79% | -17.03% |
Max Drawdown (1Y)Largest decline over 1 year | -6.00% | -2.78% | -3.22% |
Max Drawdown (3Y)Largest decline over 3 years | -10.09% | -2.78% | -7.31% |
Max Drawdown (5Y)Largest decline over 5 years | -23.96% | -13.74% | -10.22% |
Max Drawdown (10Y)Largest decline over 10 years | -29.09% | — | — |
Current DrawdownCurrent decline from peak | -4.43% | -0.36% | -4.07% |
Average DrawdownAverage peak-to-trough decline | -12.70% | -4.09% | -8.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 1.03% | +0.80% |
Volatility
LEMB vs. FBIIX - Volatility Comparison
iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) has a higher volatility of 2.02% compared to Fidelity International Bond Index Fund (FBIIX) at 0.86%. This indicates that LEMB's price experiences larger fluctuations and is considered to be riskier than FBIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LEMB | FBIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 0.86% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 5.60% | 2.68% | +2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.70% | 3.05% | +3.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.25% | 3.60% | +4.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.22% | 3.42% | +5.80% |
LEMB vs. FBIIX - Expense Ratio Comparison
LEMB has a 0.30% expense ratio, which is higher than FBIIX's 0.06% expense ratio.
Dividends
LEMB vs. FBIIX - Dividend Comparison
LEMB's dividend yield for the trailing twelve months is around 2.40%, less than FBIIX's 4.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBIIX Fidelity International Bond Index Fund | 4.15% | 4.09% | 3.44% | 2.85% | 1.02% | 0.62% | 0.74% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% |
LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2.40% | 2.44% | 0.00% | 1.34% | 0.86% | 3.89% | 0.00% | 4.39% | 3.46% | 0.00% | 0.00% | 0.64% |
Frequently Asked Questions
LEMB and FBIIX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LEMB has higher volatility (2.02%) compared to FBIIX (0.86%). In terms of maximum drawdown, LEMB dropped -30.82% vs FBIIX's -13.79%.
LEMB currently has the higher Sharpe Ratio (1.24 vs 0.84), 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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