XEMD vs. VGSH
XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) and VGSH (Vanguard Short-Term Treasury ETF) are both exchange-traded funds - XEMD is a Emerging Markets Bonds fund tracking the JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross, while VGSH is a Government Bonds fund tracking the Bloomberg U.S. Treasury 1-3 Year Index. Both are passively managed. Over the past 3 years, XEMD returned 10.14%/yr vs 4.29%/yr for VGSH. Their 0.50 correlation means their historical movements had little consistent relationship. XEMD charges 0.29%/yr vs 0.03%/yr for VGSH.
Performance
XEMD vs. VGSH - Performance Comparison
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Returns By Period
In the year-to-date period, XEMD achieves a 2.49% return, which is significantly higher than VGSH's 0.77% return.
XEMD
- 1D
- 0.02%
- 1M
- -0.62%
- 6M
- 1.43%
- YTD
- 2.49%
- 1Y
- 8.88%
- 3Y*
- 10.14%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.24%
VGSH
- 1D
- -0.05%
- 1M
- 0.14%
- 6M
- 0.55%
- YTD
- 0.77%
- 1Y
- 3.09%
- 3Y*
- 4.29%
- 5Y*
- 1.87%
- 10Y*
- 1.73%
- ALL TIME*
- 1.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $133.56M | $160.92M | $191.51M | |
| $5.44M | $11.46M | $8.01M |
XEMD vs. VGSH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 2.49% | 13.98% | 8.77% | 10.26% | 2.40% |
VGSH Vanguard Short-Term Treasury ETF | 0.77% | 5.07% | 4.00% | 4.31% | -0.70% |
Correlation
The correlation between XEMD and VGSH is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.50 |
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Return for Risk
XEMD vs. VGSH — Risk / Return Rank
XEMD
VGSH
XEMD vs. VGSH - 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 Vanguard Short-Term Treasury ETF (VGSH). 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 | VGSH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.49 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 3.51 | -0.97 |
| Martin ratioReturn relative to average drawdown | 10.95 | 13.46 | -2.51 |
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Drawdowns
XEMD vs. VGSH - Drawdown Comparison
The maximum XEMD drawdown since its inception was -10.01%, which is greater than VGSH's maximum drawdown of -5.70%. Use the drawdown chart below to compare losses from any high point for XEMD and VGSH.
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Drawdown Indicators
| XEMD | VGSH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.01% | -5.70% | -4.31% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -0.88% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -4.23% | -0.97% | -3.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.66% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -5.70% | — |
Current DrawdownCurrent decline from peak | -0.96% | -0.05% | -0.91% |
Average DrawdownAverage peak-to-trough decline | -1.23% | -0.59% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.23% | +0.58% |
Volatility
XEMD vs. VGSH - Volatility Comparison
BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) has a higher volatility of 0.96% compared to Vanguard Short-Term Treasury ETF (VGSH) at 0.36%. This indicates that XEMD's price experiences larger fluctuations and is considered to be riskier than VGSH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEMD | VGSH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.36% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 3.80% | 1.01% | +2.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.74% | 1.32% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.80% | 1.98% | +4.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.80% | 1.58% | +5.22% |
XEMD vs. VGSH - Expense Ratio Comparison
XEMD has a 0.29% expense ratio, which is higher than VGSH's 0.03% expense ratio.
Dividends
XEMD vs. VGSH - Dividend Comparison
XEMD's dividend yield for the trailing twelve months is around 5.82%, more than VGSH's 3.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VGSH Vanguard Short-Term Treasury ETF | 3.85% | 4.00% | 4.18% | 3.31% | 1.15% | 0.66% | 1.74% | 2.28% | 1.79% | 1.10% | 0.84% | 0.69% |
XEMD BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | 5.82% | 6.15% | 6.30% | 6.19% | 3.08% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
XEMD and VGSH have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XEMD has higher volatility (0.96%) compared to VGSH (0.36%). In terms of maximum drawdown, XEMD dropped -10.01% vs VGSH's -5.70%.
On 3-year performance, XEMD leads with 10.14% vs 4.29% for VGSH. On fees, VGSH is cheaper at 0.03% per year. On volatility, VGSH has been the lower-risk option at 0.36%. 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 10.14% return vs 4.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VGSH is cheaper with a 0.03% expense ratio, compared with 0.29% for XEMD.
XEMD has the higher dividend yield at 5.82%, compared with 3.85% for VGSH.
XEMD is categorized as Emerging Markets Bonds, while VGSH is Government Bonds. XEMD tracks JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross, while VGSH tracks Bloomberg U.S. Treasury 1-3 Year Index. They also come from different issuers: BondBloxx and Vanguard. Their fees differ too: 0.29% for XEMD and 0.03% for VGSH.
VGSH currently has the higher Sharpe Ratio (2.35 vs 1.88), 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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