XEMD vs. KHYB
XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) and KHYB (KraneShares Asia Pacific High Income Bond ETF) are both Emerging Markets Bonds funds - XEMD tracks the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross while KHYB tracks the JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. Both are passively managed. Over the past 3 years, XEMD returned 11.00%/yr vs 8.40%/yr for KHYB. At a 0.42 correlation, their price movements are largely independent. XEMD charges 0.29%/yr vs 0.69%/yr for KHYB.
Performance
XEMD vs. KHYB - Performance Comparison
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Returns By Period
In the year-to-date period, XEMD achieves a 3.04% return, which is significantly higher than KHYB's 2.69% return.
XEMD
- 1D
- -0.35%
- 1M
- 1.03%
- YTD
- 3.04%
- 6M
- 3.23%
- 1Y
- 11.70%
- 3Y*
- 11.00%
- 5Y*
- —
- 10Y*
- —
KHYB
- 1D
- -0.12%
- 1M
- 0.97%
- YTD
- 2.69%
- 6M
- 2.67%
- 1Y
- 9.82%
- 3Y*
- 8.40%
- 5Y*
- 0.16%
- 10Y*
- —
XEMD vs. KHYB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 3.04% | 13.98% | 8.77% | 10.26% | 2.40% |
KHYB KraneShares Asia Pacific High Income Bond ETF | 2.69% | 9.59% | 10.79% | 3.50% | 3.97% |
Correlation
The correlation between XEMD and KHYB is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.42 |
The correlation between XEMD and KHYB has been stable across timeframes, ranging from 0.42 to 0.51 - a consistent structural relationship.
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Return for Risk
XEMD vs. KHYB — Risk / Return Rank
XEMD
KHYB
XEMD vs. KHYB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) and KraneShares Asia Pacific High Income Bond ETF (KHYB). 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.
| XEMD | KHYB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.65 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 2.49 | +0.85 |
| Martin ratioReturn relative to average drawdown | 14.92 | 11.15 | +3.78 |
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Drawdowns
XEMD vs. KHYB - Drawdown Comparison
The maximum XEMD drawdown since its inception was -10.01%, smaller than the maximum KHYB drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for XEMD and KHYB.
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Drawdown Indicators
| XEMD | KHYB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.01% | -33.63% | +23.62% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -3.97% | +0.45% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -5.44% | +1.13% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.73% | — |
Current DrawdownCurrent decline from peak | -0.42% | -0.43% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -9.65% | +8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.88% | -0.09% |
Volatility
XEMD vs. KHYB - Volatility Comparison
BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) has a higher volatility of 1.48% compared to KraneShares Asia Pacific High Income Bond ETF (KHYB) at 0.86%. This indicates that XEMD's price experiences larger fluctuations and is considered to be riskier than KHYB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEMD | KHYB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 0.86% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 3.87% | 3.08% | +0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.80% | 3.44% | +1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.88% | 6.33% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 5.70% | +1.18% |
XEMD vs. KHYB - Expense Ratio Comparison
XEMD has a 0.29% expense ratio, which is lower than KHYB's 0.69% expense ratio.
Dividends
XEMD vs. KHYB - Dividend Comparison
XEMD's dividend yield for the trailing twelve months is around 5.81%, less than KHYB's 8.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
KHYB KraneShares Asia Pacific High Income Bond ETF | 8.12% | 7.59% | 10.11% | 15.55% | 9.67% | 6.22% | 4.76% | 4.86% | 2.56% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 5.81% | 6.15% | 6.30% | 6.19% | 3.08% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEMD and KHYB have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XEMD has higher volatility (1.48%) compared to KHYB (0.86%). In terms of maximum drawdown, XEMD dropped -10.01% vs KHYB's -33.63%.
On 3-year performance, XEMD leads with 11.00% vs 8.40% for KHYB. On fees, XEMD is cheaper at 0.29% per year. On volatility, KHYB has been the lower-risk option at 0.86%. 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 11.00% return vs 8.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XEMD is cheaper with a 0.29% expense ratio, compared with 0.69% for KHYB.
KHYB has the higher dividend yield at 8.12%, compared with 5.81% for XEMD.
XEMD tracks JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross, while KHYB tracks JP Morgan Asia Credit Index Non-Investment Grade Corporate Index.. They also come from different issuers: BondBloxx and KraneShares. Their fees differ too: 0.29% for XEMD and 0.69% for KHYB.
KHYB currently has the higher Sharpe Ratio (2.87 vs 2.45), 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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