iShares J.P. Morgan EM High Yield Bond ETF (EMHY) Performance
EMHY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +0.6% since Dec 31, 2025
- 1 year
- +3.8% total return
- 5 years
- +4.4% a year
- 10 years
- +3.7% a year
- Since first price
- +4.7% a year since 2012
EMHY trailing returns vs AGG, TLT, SPY
| Period | EMHY total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −1.4% | −2.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −2.1% | −3.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.2% | −4.5% | −1.5% | −3.8% | +7.8% |
| YTD | +0.6% | −4.3% | −1.0% | −3.4% | +12.3% |
| 1 year | +3.8% | −2.8% | −1.1% | −6.9% | +14.4% |
| 3 years | +42.2%+12.4%/yr | +15.9% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +23.9%+4.4%/yr | −11.8% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +44.1%+3.7%/yr | −23.6% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionApr 3, 2012 | +94.5%+4.7%/yr | −21.2% | — | — | — |
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: EMHY vs AGG
From Apr 3, 2012: EMHY grew to $19,452, AGG to $13,051.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EMHY returns by calendar year
9 of 13 full years positive. Best 2016 (+15.3%), worst 2022 (−13.0%). 2026 is year to date.
EMHY annual returns table
| Year | EMHY | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +0.6% | −4.3% | −1.0% | −3.4% | +12.3% |
| 2025 | +13.7% | −6.0% | +7.2% | +4.3% | +17.7% |
| 2024 | +12.0% | −3.2% | +1.3% | −8.1% | +24.9% |
| 2023 | +11.5% | −7.1% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.0% | −22.2% | −13.0% | −31.2% | −18.2% |
| 2021 | −1.9% | −6.9% | −1.8% | −4.6% | +28.7% |
| 2020 | +3.8% | −30.1% | +7.5% | +18.2% | +18.3% |
| 2019 | +13.0% | −4.0% | +8.5% | +14.1% | +31.2% |
| 2018 | −5.2% | −9.7% | +0.1% | −1.6% | −4.6% |
| 2017 | +8.5% | −2.7% | +3.6% | +9.2% | +21.7% |
| 2016 | +15.3% | −5.9% | +2.4% | +1.2% | +12.0% |
| 2015 | +2.0% | −7.8% | +0.5% | −1.8% | +1.2% |
| 2014 | +1.6% | −14.9% | +6.0% | +27.3% | +13.5% |
| 2013 | −6.3% | −14.0% | −2.0% | −13.4% | +32.3% |
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.
EMHY largest drawdowns
Now 3.3% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2020 | −30.1% | Mar 18, 2020 | Dec 4, 2020 | 33 days | 10 months |
| Sep 14, 2021 | −25.8% | Oct 20, 2022 | Jul 31, 2024 | 1.1 years | 2.9 years |
| Jul 24, 2014 | −14.9% | Dec 16, 2014 | Apr 19, 2016 | 5 months | 1.7 years |
| May 9, 2013 | −14.0% | Jun 24, 2013 | May 23, 2014 | 46 days | 1.0 years |
| Jan 5, 2018 | −9.7% | Aug 13, 2018 | Mar 15, 2019 | 7 months | 1.2 years |
| May 7, 2012 | −6.3% | Jun 4, 2012 | Jul 6, 2012 | 28 days | 2 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
EMHY risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +11.8% | +4.1% | +3.7% | +4.4% |
| Volatility (annualized) | 6.4% | 9.8% | 10.5% | 9.9% |
| Sharpe ratio | 1.11 | 0.10 | 0.19 | 0.33 |
| Sortino ratio | 1.98 | 0.14 | 0.26 | 0.46 |
| Best month | +5.7% | +10.8% | +10.8% | +10.8% |
| Worst month | −3.1% | −7.3% | −16.9% | −16.9% |
| Best 12 months | +22.7% | +22.7% | +24.0% | +24.0% |
| Worst 12 months | +4.2% | −22.3% | −22.3% | −22.3% |
| Positive months | 69% | 57% | 57% | 59% |
| Beta vs S&P 500 | 0.39 | 0.47 | 0.47 | — |
| Correlation with S&P 500 | 0.77 | 0.74 | 0.69 | — |
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.
EMHY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 163 | −22.3% | +6.8% | +24.0% | 68% |
| 3-year (a year) | 139 | −6.5% | +4.6% | +15.7% | 78% |
| 5-year (a year) | 115 | −3.2% | +4.1% | +7.1% | 88% |
| 10-year (a year) | 55 | +0.8% | +3.4% | +5.5% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
EMHY performance overview
iShares J.P. Morgan EM High Yield Bond ETF (EMHY) returned +3.8% over the past year and +3.7% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +4.7% a year, turning $10,000 into about $19,452. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −30.1%, from Feb 14, 2020 to Mar 18, 2020, and it took 9 months to get back to the old high. EMHY finished 9 of its 13 full calendar years with a gain; the best year was 2016 (+15.3%) and the worst 2022 (−13.0%). Volatility has been 9.9% a year.
Related: EMHY chart, EMHY dividends, EMHY bond profile. See the EMHY overview for the latest quote and fund facts.
EMHY performance FAQ
What is the EMHY return over the past year?
EMHY returned +3.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.8%.
What is the average annual return of EMHY?
EMHY has returned +4.4% a year over 5 years, +3.7% a year over 10 years, +4.7% a year since April 3, 2012 (total return, distributions reinvested).
How much would $10,000 invested in EMHY be worth?
$10,000 invested in EMHY at its first recorded close on April 3, 2012 would be worth about $19,452 on October 23, 2026 with distributions reinvested.
What was the worst year for EMHY?
The worst calendar year was 2022, with a total return of −13.0%. The best was 2016 at +15.3%.
What is the biggest drawdown of EMHY?
The largest peak-to-trough decline was −30.1% between February 14, 2020 and March 18, 2020. It recovered to the old high on December 4, 2020, 9 months after the bottom.
How volatile is EMHY?
Over the past 3 years EMHY had an annualized volatility of 6.4% and a Sharpe ratio of 1.11 (excess return over 1–3 month T-bills per unit of risk).