PCY vs. EMB
Compare and contrast key facts about Invesco Emerging Markets Sovereign Debt ETF (PCY) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB).
PCY and EMB are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PCY is a passively managed fund by Invesco that tracks the performance of the DB Emerging Market USD Liquid Balanced Index. It was launched on Oct 11, 2007. EMB is a passively managed fund by iShares that tracks the performance of the JPMorgan EMBI Global Core Index. It was launched on Dec 17, 2007. Both PCY and EMB are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PCY or EMB.
Performance
PCY vs. EMB - Performance Comparison
Returns By Period
In the year-to-date period, PCY achieves a 4.96% return, which is significantly lower than EMB's 6.56% return. Over the past 10 years, PCY has underperformed EMB with an annualized return of 1.98%, while EMB has yielded a comparatively higher 2.47% annualized return.
PCY
4.96%
-0.52%
4.41%
13.78%
-1.05%
1.98%
EMB
6.56%
0.17%
5.33%
12.33%
0.33%
2.47%
Key characteristics
| PCY | EMB | |
|---|---|---|
| Sharpe Ratio | 1.49 | 1.72 |
| Sortino Ratio | 2.16 | 2.49 |
| Omega Ratio | 1.26 | 1.30 |
| Calmar Ratio | 0.69 | 0.75 |
| Martin Ratio | 6.80 | 8.97 |
| Ulcer Index | 2.19% | 1.44% |
| Daily Std Dev | 10.01% | 7.50% |
| Max Drawdown | -49.14% | -34.70% |
| Current Drawdown | -10.58% | -6.66% |
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PCY vs. EMB - Expense Ratio Comparison
PCY has a 0.50% expense ratio, which is higher than EMB's 0.39% expense ratio.
Correlation
The correlation between PCY and EMB is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
PCY vs. EMB - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Emerging Markets Sovereign Debt ETF (PCY) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
Dividends
PCY vs. EMB - Dividend Comparison
PCY's dividend yield for the trailing twelve months is around 6.49%, more than EMB's 4.93% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PCY Invesco Emerging Markets Sovereign Debt ETF | 6.49% | 6.48% | 6.81% | 4.80% | 4.45% | 4.79% | 4.93% | 4.80% | 5.20% | 5.46% | 4.58% | 4.69% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 4.93% | 4.74% | 5.04% | 3.90% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% | 4.56% | 4.75% |
Drawdowns
PCY vs. EMB - Drawdown Comparison
The maximum PCY drawdown since its inception was -49.14%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for PCY and EMB. For additional features, visit the drawdowns tool.
Volatility
PCY vs. EMB - Volatility Comparison
Invesco Emerging Markets Sovereign Debt ETF (PCY) has a higher volatility of 3.04% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.88%. This indicates that PCY's price experiences larger fluctuations and is considered to be riskier than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.