XBB vs. XEMD
XBB (BondBloxx BB Rated USD High Yield Corporate Bond ETF) and XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) are both exchange-traded funds - XBB is a High Yield Bonds fund tracking the ICE BofA BB US Cash Pay High Yield Constrained Index, while XEMD is a Emerging Markets Bonds fund tracking the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, XBB returned 7.84%/yr vs 11.18%/yr for XEMD. A 0.68 correlation means they provide meaningful diversification when combined. XBB charges 0.20%/yr vs 0.29%/yr for XEMD.
Performance
XBB vs. XEMD - Performance Comparison
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Returns By Period
In the year-to-date period, XBB achieves a 1.53% return, which is significantly lower than XEMD's 2.94% return.
XBB
- 1D
- 0.21%
- 1M
- 0.46%
- YTD
- 1.53%
- 6M
- 1.76%
- 1Y
- 6.37%
- 3Y*
- 7.84%
- 5Y*
- —
- 10Y*
- —
XEMD
- 1D
- 0.18%
- 1M
- 0.89%
- YTD
- 2.94%
- 6M
- 3.52%
- 1Y
- 11.81%
- 3Y*
- 11.18%
- 5Y*
- —
- 10Y*
- —
XBB vs. XEMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 1.53% | 8.59% | 6.41% | 10.63% | 3.63% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2.94% | 13.98% | 8.77% | 10.26% | 1.82% |
Correlation
The correlation between XBB and XEMD is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2022 | 0.68 |
The correlation between XBB and XEMD shifts across timeframes, from 0.57 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XBB vs. XEMD — Risk / Return Rank
XBB
XEMD
XBB vs. XEMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) 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.
| XBB | XEMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.51 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 3.37 | -1.08 |
| Martin ratioReturn relative to average drawdown | 9.49 | 15.17 | -5.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XBB | XEMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 2.55 | -0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 1.40 | -0.59 |
Drawdowns
XBB vs. XEMD - Drawdown Comparison
The maximum XBB drawdown since its inception was -8.87%, smaller than the maximum XEMD drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for XBB and XEMD.
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Drawdown Indicators
| XBB | XEMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.87% | -10.01% | +1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.80% | -3.52% | +0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.86% | -4.31% | +0.45% |
Current DrawdownCurrent decline from peak | -0.20% | -0.19% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -1.33% | -1.26% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | 0.78% | -0.11% |
Volatility
XBB vs. XEMD - Volatility Comparison
The current volatility for BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) is 1.25%, while BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) has a volatility of 1.36%. This indicates that XBB 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.
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Volatility by Period
| XBB | XEMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.25% | 1.36% | -0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 3.70% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 4.65% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.08% | 6.88% | +0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.08% | 6.88% | +0.20% |
XBB vs. XEMD - Expense Ratio Comparison
XBB has a 0.20% expense ratio, which is lower than XEMD's 0.29% expense ratio.
Dividends
XBB vs. XEMD - Dividend Comparison
XBB's dividend yield for the trailing twelve months is around 5.55%, less than XEMD's 5.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 5.55% | 5.42% | 6.35% | 6.15% | 3.73% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 5.81% | 6.15% | 6.30% | 6.19% | 3.08% |
Frequently Asked Questions
XBB and XEMD have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XEMD has higher volatility (1.36%) compared to XBB (1.25%). In terms of maximum drawdown, XBB dropped -8.87% vs XEMD's -10.01%.
On 3-year performance, XEMD leads with 11.18% vs 7.84% for XBB. On fees, XBB is cheaper at 0.20% per year. On volatility, XBB has been the lower-risk option at 1.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, XEMD has performed better with a 11.18% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XBB is cheaper with a 0.20% expense ratio, compared with 0.29% for XEMD.
XEMD has the higher dividend yield at 5.81%, compared with 5.55% for XBB.
XBB is categorized as High Yield Bonds, while XEMD is Emerging Markets Bonds. XBB tracks ICE BofA BB US Cash Pay High Yield Constrained Index, while XEMD tracks JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross. Their fees differ too: 0.20% for XBB and 0.29% for XEMD.
XEMD currently has the higher Sharpe Ratio (2.55 vs 1.64), 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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