MTBA vs. XEMD

Last updated Jun 4, 2026

MTBA (Simplify MBS ETF) and XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) are both exchange-traded funds - MTBA is a Mortgage Backed Securities fund actively managed by Simplify, while XEMD is a Emerging Markets Bonds fund tracking the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross. MTBA is actively managed, while XEMD is passively managed. Over the past year, MTBA returned 5.18% vs 11.88% for XEMD. A 0.59 correlation means they provide meaningful diversification when combined. MTBA charges 0.15%/yr vs 0.29%/yr for XEMD.

Performance

MTBA vs. XEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify MBS ETF (MTBA) 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

In the year-to-date period, MTBA achieves a -0.23% return, which is significantly lower than XEMD's 2.75% return.

MTBA

• 1D: -0.12%
• 1M: 0.21%
• YTD: -0.23%
• 6M: 0.18%
• 1Y: 5.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XEMD

• 1D: -0.37%
• 1M: 1.21%
• YTD: 2.75%
• 6M: 3.27%
• 1Y: 11.88%
• 3Y*: 11.23%
• 5Y*: —
• 10Y*: —

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

MTBA vs. XEMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MTBA Simplify MBS ETF	-0.23%	7.74%	1.99%	3.64%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	2.75%	13.98%	8.77%	5.30%

Correlation

The correlation between MTBA and XEMD is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Nov 8, 2023	0.59

The correlation between MTBA and XEMD has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

MTBA vs. XEMD — Risk / Return Rank

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

MTBA

MTBA Risk / Return Rank: 45
MTBA Sharpe Ratio Rank: 48
MTBA Sortino Ratio Rank: 48
MTBA Omega Ratio Rank: 51
MTBA Calmar Ratio Rank: 37
MTBA Martin Ratio Rank: 39

XEMD

XEMD Risk / Return Rank: 79
XEMD Sharpe Ratio Rank: 79
XEMD Sortino Ratio Rank: 86
XEMD Omega Ratio Rank: 83
XEMD Calmar Ratio Rank: 68
XEMD Martin Ratio Rank: 78

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.

MTBA vs. XEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify MBS ETF (MTBA) 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.

	MTBA	XEMD	Difference
Sharpe ratio: Return per unit of total volatility	1.68	2.57	-0.89
Sortino ratio: Return per unit of downside risk	2.38	3.88	-1.50
Omega ratio: Gain probability vs. loss probability	1.32	1.51	-0.19
Calmar ratio: Return relative to maximum drawdown	1.84	3.39	-1.54
Martin ratio: Return relative to average drawdown	6.28	15.27	-8.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MTBA vs. XEMD - Sharpe Ratio Comparison

The current MTBA Sharpe Ratio is 1.68, which is lower than the XEMD Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of MTBA 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.

Sharpe Ratios by Period

	MTBA	XEMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	2.57	-0.89
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.39	-0.10

Drawdowns

MTBA vs. XEMD - Drawdown Comparison

The maximum MTBA drawdown since its inception was -3.48%, smaller than the maximum XEMD drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for MTBA and XEMD.

Drawdown Indicators

	MTBA	XEMD	Difference
Max Drawdown Largest peak-to-trough decline	-3.48%	-10.01%	+6.53%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	-3.52%	+0.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.31%	—
Current Drawdown Current decline from peak	-1.60%	-0.37%	-1.23%
Average Drawdown Average peak-to-trough decline	-0.79%	-1.26%	+0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.78%	+0.05%

Volatility

MTBA vs. XEMD - Volatility Comparison

The current volatility for Simplify MBS ETF (MTBA) is 1.33%, while BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) has a volatility of 1.43%. This indicates that MTBA experiences smaller price fluctuations and is considered to be less risky than XEMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MTBA	XEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.43%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.47%	3.70%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	3.10%	4.66%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.95%	6.88%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.95%	6.88%	-2.93%

MTBA vs. XEMD - Expense Ratio Comparison

MTBA has a 0.15% expense ratio, which is lower than XEMD's 0.29% expense ratio.

Dividends

MTBA vs. XEMD - Dividend Comparison

MTBA's dividend yield for the trailing twelve months is around 6.09%, more than XEMD's 5.82% yield.

Position	TTM	2025	2024	2023	2022
MTBA Simplify MBS ETF	6.09%	5.98%	6.03%	0.48%	0.00%
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF	5.82%	6.15%	6.30%	6.19%	3.08%

Frequently Asked Questions

Can I hold both MTBA and XEMD in my portfolio?

MTBA and XEMD have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTBA or XEMD?

XEMD has higher volatility (1.43%) compared to MTBA (1.33%). In terms of maximum drawdown, MTBA dropped -3.48% vs XEMD's -10.01%.

Which ETF is better, MTBA or XEMD?

On 1-year performance, XEMD leads with 11.88% vs 5.18% for MTBA. On fees, MTBA is cheaper at 0.15% per year. On volatility, MTBA has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MTBA or XEMD?

Over the 1-year period, XEMD has performed better with a 11.88% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MTBA or XEMD?

MTBA is cheaper with a 0.15% expense ratio, compared with 0.29% for XEMD.

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

MTBA has the higher dividend yield at 6.09%, compared with 5.82% for XEMD.

What is the main difference between MTBA and XEMD?

MTBA is categorized as Mortgage Backed Securities, while XEMD is Emerging Markets Bonds. They also come from different issuers: Simplify and BondBloxx. Their fees differ too: 0.15% for MTBA and 0.29% for XEMD.

Which has better risk-adjusted returns?

XEMD currently has the higher Sharpe Ratio (2.57 vs 1.68), 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.