iShares J.P. Morgan USD Emerging Markets Bond… (EMB) Performance
EMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.0% since Dec 31, 2025
- 1 year
- +0.5% total return
- 5 years
- +1.5% a year
- 10 years
- +2.4% a year
- Since first price
- +4.4% a year since 2007
EMB trailing returns vs AGG, TLT, SPY
| Period | EMB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −1.1% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.7% | −3.0% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.9% | −4.5% | −1.5% | −3.8% | +7.8% |
| YTD | −1.0% | −4.8% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.5% | −4.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +33.1%+10.0%/yr | +13.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +7.8%+1.5%/yr | −16.3% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +27.1%+2.4%/yr | −21.3% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +72.4%+3.7%/yr | −15.2% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionDec 19, 2007 | +126.7%+4.4%/yr | −9.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EMB vs AGG
From Dec 19, 2007: EMB grew to $22,670, AGG to $16,613.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EMB returns by calendar year
13 of 18 full years positive. Best 2012 (+16.9%), worst 2022 (−18.6%). 2026 is year to date.
EMB annual returns table
| Year | EMB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.0% | −5.2% | −1.0% | −3.4% | +12.3% |
| 2025 | +13.9% | −5.2% | +7.2% | +4.3% | +17.7% |
| 2024 | +5.5% | −3.6% | +1.3% | −8.1% | +24.9% |
| 2023 | +10.6% | −8.0% | +5.7% | +2.8% | +26.2% |
| 2022 | −18.6% | −26.0% | −13.0% | −31.2% | −18.2% |
| 2021 | −2.2% | −6.9% | −1.8% | −4.6% | +28.7% |
| 2020 | +5.4% | −26.5% | +7.5% | +18.2% | +18.3% |
| 2019 | +15.5% | −2.7% | +8.5% | +14.1% | +31.2% |
| 2018 | −5.5% | −8.9% | +0.1% | −1.6% | −4.6% |
| 2017 | +10.3% | −2.4% | +3.6% | +9.2% | +21.7% |
| 2016 | +9.3% | −7.6% | +2.4% | +1.2% | +12.0% |
| 2015 | +1.0% | −6.2% | +0.5% | −1.8% | +1.2% |
| 2014 | +6.0% | −7.4% | +6.0% | +27.3% | +13.5% |
| 2013 | −7.8% | −14.5% | −2.0% | −13.4% | +32.3% |
| 2012 | +16.9% | −4.9% | +3.8% | +2.6% | +16.0% |
| 2011 | +7.6% | −7.1% | +7.7% | +34.0% | +1.9% |
| 2010 | +10.8% | −6.9% | +6.4% | +9.0% | +15.1% |
| 2009 | +15.4% | −17.3% | +3.0% | −21.8% | +26.4% |
| 2008 | −2.1% | −34.7% | +7.9% | +33.9% | −36.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EMB largest drawdowns
Now 3.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 21, 2008 | −34.7% | Oct 28, 2008 | Jul 21, 2009 | 5 months | 1.2 years |
| Sep 2, 2021 | −28.7% | Oct 20, 2022 | Aug 7, 2025 | 1.1 years | 3.9 years |
| Mar 4, 2020 | −26.5% | Mar 18, 2020 | Nov 13, 2020 | 14 days | 8 months |
| May 2, 2013 | −14.5% | Jun 24, 2013 | Jul 8, 2014 | 53 days | 1.2 years |
| Jan 5, 2018 | −8.9% | Nov 27, 2018 | Mar 20, 2019 | 11 months | 1.2 years |
| Sep 7, 2016 | −7.6% | Nov 14, 2016 | Apr 28, 2017 | 2 months | 8 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
EMB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +8.8% | +1.2% | +2.3% | +4.4% |
| Volatility (annualized) | 7.4% | 10.4% | 10.1% | 11.4% |
| Sharpe ratio | 0.60 | -0.18 | 0.05 | 0.32 |
| Sortino ratio | 0.94 | -0.25 | 0.06 | 0.45 |
| Best month | +6.2% | +10.1% | +10.1% | +17.7% |
| Worst month | −3.7% | −6.7% | −15.0% | −19.4% |
| Best 12 months | +19.3% | +19.3% | +19.3% | +47.3% |
| Worst 12 months | +0.4% | −24.9% | −24.9% | −24.9% |
| Positive months | 69% | 58% | 60% | 64% |
| Beta vs S&P 500 | 0.42 | 0.52 | 0.46 | — |
| Correlation with S&P 500 | 0.72 | 0.78 | 0.70 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 215 | −24.9% | +6.4% | +47.3% | 73% |
| 3-year (a year) | 191 | −7.6% | +5.0% | +20.8% | 82% |
| 5-year (a year) | 167 | −3.2% | +4.3% | +14.3% | 87% |
| 10-year (a year) | 107 | +0.2% | +3.7% | +8.7% | 100% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
EMB performance overview
iShares J.P. Morgan USD Emerging Markets Bond… (EMB) returned +0.5% over the past year and +2.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +4.4% a year, turning $10,000 into about $22,670. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −34.7%, from May 21, 2008 to Oct 28, 2008, and it took 9 months to get back to the old high. EMB finished 13 of its 18 full calendar years with a gain; the best year was 2012 (+16.9%) and the worst 2022 (−18.6%). Volatility has been 11.4% a year.
Related: EMB chart, EMB dividends, EMB bond profile. See the EMB overview for the latest quote and fund facts.
EMB performance FAQ
What is the EMB return over the past year?
EMB returned +0.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.5%.
What is the average annual return of EMB?
EMB has returned +1.5% a year over 5 years, +2.4% a year over 10 years, +4.4% a year since December 19, 2007 (total return, distributions reinvested).
How much would $10,000 invested in EMB be worth?
$10,000 invested in EMB at its first recorded close on December 19, 2007 would be worth about $22,670 on October 23, 2026 with distributions reinvested.
What was the worst year for EMB?
The worst calendar year was 2022, with a total return of −18.6%. The best was 2012 at +16.9%.
What is the biggest drawdown of EMB?
The largest peak-to-trough decline was −34.7% between May 21, 2008 and October 28, 2008. It recovered to the old high on July 21, 2009, 9 months after the bottom.
How volatile is EMB?
Over the past 3 years EMB had an annualized volatility of 7.4% and a Sharpe ratio of 0.60 (excess return over 1–3 month T-bills per unit of risk).