XEMD vs. XBB
XEMD (BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF) and XBB (BondBloxx BB Rated USD High Yield Corporate Bond 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 XBB is a High Yield Bonds fund tracking the ICE BofA BB US Cash Pay High Yield Constrained Index. Both are passively managed. Over the past 3 years, XEMD returned 11.00%/yr vs 8.13%/yr for XBB. A 0.68 correlation means they provide meaningful diversification when combined. XEMD charges 0.29%/yr vs 0.20%/yr for XBB.
Performance
XEMD vs. XBB - 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 XBB's 1.76% return.
XEMD
- 1D
- -0.35%
- 1M
- 1.03%
- YTD
- 3.04%
- 6M
- 3.23%
- 1Y
- 11.70%
- 3Y*
- 11.00%
- 5Y*
- —
- 10Y*
- —
XBB
- 1D
- 0.02%
- 1M
- 0.81%
- YTD
- 1.76%
- 6M
- 2.11%
- 1Y
- 6.14%
- 3Y*
- 8.13%
- 5Y*
- —
- 10Y*
- —
XEMD vs. XBB - 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% |
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 1.76% | 8.59% | 6.41% | 10.63% | 3.57% |
Correlation
The correlation between XEMD and XBB is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.68 |
The correlation between XEMD and XBB has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.
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Return for Risk
XEMD vs. XBB — Risk / Return Rank
XEMD
XBB
XEMD vs. XBB - 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 BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB). 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 | XBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.29 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.34 | 2.20 | +1.13 |
| Martin ratioReturn relative to average drawdown | 14.92 | 9.12 | +5.80 |
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Drawdowns
XEMD vs. XBB - Drawdown Comparison
The maximum XEMD drawdown since its inception was -10.01%, which is greater than XBB's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for XEMD and XBB.
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Drawdown Indicators
| XEMD | XBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.01% | -8.87% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -3.52% | -2.80% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -4.31% | -3.86% | -0.45% |
Current DrawdownCurrent decline from peak | -0.42% | -0.11% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -1.32% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 0.68% | +0.11% |
Volatility
XEMD vs. XBB - Volatility Comparison
BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) has a higher volatility of 1.48% compared to BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) at 1.17%. This indicates that XEMD's price experiences larger fluctuations and is considered to be riskier than XBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XEMD | XBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 1.17% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 3.87% | 2.89% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.80% | 3.99% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.88% | 7.09% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.88% | 7.09% | -0.21% |
XEMD vs. XBB - Expense Ratio Comparison
XEMD has a 0.29% expense ratio, which is higher than XBB's 0.20% expense ratio.
Dividends
XEMD vs. XBB - Dividend Comparison
XEMD's dividend yield for the trailing twelve months is around 5.81%, more than XBB's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 5.54% | 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
XEMD and XBB have a correlation of 0.58, 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 XBB (1.17%). In terms of maximum drawdown, XEMD dropped -10.01% vs XBB's -8.87%.
On 3-year performance, XEMD leads with 11.00% vs 8.13% for XBB. On fees, XBB is cheaper at 0.20% per year. On volatility, XBB has been the lower-risk option at 1.17%. 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 8.13%. 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 5.54% for XBB.
XEMD is categorized as Emerging Markets Bonds, while XBB is High Yield Bonds. XEMD tracks JP Morgan EMBI Global Diversified Liquid 1-10 Y Maturity Index - Benchmark TR Gross, while XBB tracks ICE BofA BB US Cash Pay High Yield Constrained Index. Their fees differ too: 0.29% for XEMD and 0.20% for XBB.
XEMD currently has the higher Sharpe Ratio (2.45 vs 1.55), 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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