NEMD vs. EMHC
NEMD (Neuberger Berman Emerging Markets Debt Hard Currency ETF) and EMHC (SPDR Bloomberg Emerging Markets USD Bond ETF) are both Emerging Markets Bonds funds. NEMD is actively managed, while EMHC is passively managed. Their correlation of 0.88 suggests significant overlap in exposure. NEMD charges 0.60%/yr vs 0.23%/yr for EMHC.
Performance
NEMD vs. EMHC - Performance Comparison
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Returns By Period
In the year-to-date period, NEMD achieves a 3.64% return, which is significantly higher than EMHC's 1.93% return.
NEMD
- 1D
- 0.13%
- 1M
- 1.16%
- YTD
- 3.64%
- 6M
- 3.74%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMHC
- 1D
- -0.18%
- 1M
- 1.60%
- YTD
- 1.93%
- 6M
- 2.03%
- 1Y
- 10.91%
- 3Y*
- 8.46%
- 5Y*
- 1.55%
- 10Y*
- —
NEMD vs. EMHC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF | 3.64% | 7.10% |
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 1.93% | 5.57% |
Correlation
The correlation between NEMD and EMHC is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Aug 11, 2025 | 0.88 |
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Return for Risk
NEMD vs. EMHC — Risk / Return Rank
NEMD
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EMHC
NEMD vs. EMHC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD) and SPDR Bloomberg Emerging Markets USD Bond ETF (EMHC). 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.
| NEMD | EMHC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.38 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.50 | — |
| Martin ratioReturn relative to average drawdown | — | 10.44 | — |
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Drawdowns
NEMD vs. EMHC - Drawdown Comparison
The maximum NEMD drawdown since its inception was -4.43%, smaller than the maximum EMHC drawdown of -28.03%. Use the drawdown chart below to compare losses from any high point for NEMD and EMHC.
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Drawdown Indicators
| NEMD | EMHC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.43% | -28.03% | +23.60% |
Max Drawdown (1Y)Largest decline over 1 year | — | -4.37% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.67% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.03% | — |
Current DrawdownCurrent decline from peak | -1.18% | -0.55% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -0.56% | -9.81% | +9.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.05% | — |
Volatility
NEMD vs. EMHC - Volatility Comparison
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Volatility by Period
| NEMD | EMHC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.65% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 4.28% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 6.63% | 5.52% | +1.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.63% | 9.06% | -2.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.63% | 8.94% | -2.31% |
NEMD vs. EMHC - Expense Ratio Comparison
NEMD has a 0.60% expense ratio, which is higher than EMHC's 0.23% expense ratio.
Dividends
NEMD vs. EMHC - Dividend Comparison
NEMD's dividend yield for the trailing twelve months is around 4.73%, less than EMHC's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMHC SPDR Bloomberg Emerging Markets USD Bond ETF | 6.09% | 6.16% | 5.95% | 5.12% | 5.11% | 2.97% |
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF | 4.73% | 2.39% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NEMD and EMHC have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMHC is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMHC is cheaper with a 0.23% expense ratio, compared with 0.60% for NEMD.
EMHC has the higher dividend yield at 6.09%, compared with 4.73% for NEMD.
They also come from different issuers: Neuberger Berman and State Street. Their fees differ too: 0.60% for NEMD and 0.23% for EMHC.
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