PMMF vs. BREM

Last updated Jun 24, 2026

PMMF (iShares Prime Money Market ETF) and BREM (iShares Emerging Markets Bond Active ETF) are both exchange-traded funds - PMMF is a Money Market fund actively managed by BlackRock, while BREM is a Emerging Markets Bonds fund actively managed by BlackRock. Both are actively managed. At a 0.06 correlation, their price movements are largely independent. PMMF charges 0.20%/yr vs 0.50%/yr for BREM.

Performance

PMMF vs. BREM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Prime Money Market ETF (PMMF) and iShares Emerging Markets Bond Active ETF (BREM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMMF achieves a 1.71% return, which is significantly lower than BREM's 3.77% return.

PMMF

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.71%
• 6M: 1.81%
• 1Y: 3.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BREM

• 1D: -0.20%
• 1M: 1.52%
• YTD: 3.77%
• 6M: 3.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMMF vs. BREM - Yearly Performance Comparison

	2026 (YTD)	2025
PMMF iShares Prime Money Market ETF	1.71%	0.84%
BREM iShares Emerging Markets Bond Active ETF	3.77%	2.80%

Correlation

The correlation between PMMF and BREM is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 16, 2025	0.06

Return for Risk

PMMF vs. BREM — Risk / Return Rank

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

PMMF

PMMF Risk / Return Rank: 100
PMMF Sharpe Ratio Rank: 100
PMMF Sortino Ratio Rank: 100
PMMF Omega Ratio Rank: 100
PMMF Calmar Ratio Rank: 100
PMMF Martin Ratio Rank: 100

BREM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PMMF vs. BREM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Prime Money Market ETF (PMMF) and iShares Emerging Markets Bond Active ETF (BREM). 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.

	PMMF	BREM	Difference
Sharpe ratio: Return per unit of total volatility	19.44	—	—
Sortino ratio: Return per unit of downside risk	91.58	—	—
Omega ratio: Gain probability vs. loss probability	34.77	—	—
Calmar ratio: Return relative to maximum drawdown	159.45	—	—
Martin ratio: Return relative to average drawdown	1,433.74	—	—

Drawdowns

PMMF vs. BREM - Drawdown Comparison

The maximum PMMF drawdown since its inception was -0.13%, smaller than the maximum BREM drawdown of -4.54%. Use the drawdown chart below to compare losses from any high point for PMMF and BREM.

Drawdown Indicators

	PMMF	BREM	Difference
Max Drawdown Largest peak-to-trough decline	-0.13%	-4.54%	+4.41%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	—	—
Current Drawdown Current decline from peak	0.00%	-0.58%	+0.58%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.63%	+0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	PMMF	BREM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.20%	5.61%	-5.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.35%	5.61%	-5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.35%	5.61%	-5.26%

PMMF vs. BREM - Expense Ratio Comparison

PMMF has a 0.20% expense ratio, which is lower than BREM's 0.50% expense ratio.

Dividends

PMMF vs. BREM - Dividend Comparison

PMMF's dividend yield for the trailing twelve months is around 3.96%, more than BREM's 3.89% yield.

Position	TTM	2025
BREM iShares Emerging Markets Bond Active ETF	3.89%	1.19%
PMMF iShares Prime Money Market ETF	3.96%	3.59%

Frequently Asked Questions

Can I hold both PMMF and BREM in my portfolio?

PMMF and BREM have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMMF or BREM?

On fees, PMMF is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMMF or BREM?

PMMF is cheaper with a 0.20% expense ratio, compared with 0.50% for BREM.

Which ETF pays a higher dividend yield, PMMF or BREM?

PMMF has the higher dividend yield at 3.96%, compared with 3.89% for BREM.

What is the main difference between PMMF and BREM?

PMMF is categorized as Money Market, while BREM is Emerging Markets Bonds. Their fees differ too: 0.20% for PMMF and 0.50% for BREM.