iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) Performance
LEMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +1.9% since Dec 31, 2025
- 1 year
- +5.0% total return
- 5 years
- +1.9% a year
- 10 years
- +1.3% a year
- Since first price
- +0.7% a year since 2011
LEMB trailing returns vs AGG, TLT, SPY
| Period | LEMB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −0.4% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.9% | +0.9% | −0.4% | −1.0% | +3.2% |
| 6 months | +0.8% | +0.8% | −1.5% | −3.8% | +7.8% |
| YTD | +1.9% | +1.9% | −1.0% | −3.4% | +12.3% |
| 1 year | +5.0% | +2.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +28.3%+8.7%/yr | +23.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +9.6%+1.9%/yr | +0.7% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +13.7%+1.3%/yr | −6.7% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| 15 years | +12.3%+0.8%/yr | −17.0% | +32.2%+1.9%/yr | +9.9%+0.6%/yr | +696.0%+14.8%/yr |
| Since inceptionOct 20, 2011 | +11.0%+0.7%/yr | −17.9% | — | — | — |
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: LEMB vs AGG
From Oct 20, 2011: LEMB grew to $11,098, AGG to $13,228.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
LEMB returns by calendar year
7 of 14 full years positive. Best 2025 (+18.0%), worst 2015 (−12.1%). 2026 is year to date.
LEMB annual returns table
| Year | LEMB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +1.9% | −6.0% | −1.0% | −3.4% | +12.3% |
| 2025 | +18.0% | −3.6% | +7.2% | +4.3% | +17.7% |
| 2024 | −1.7% | −6.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +7.2% | −10.1% | +5.7% | +2.8% | +26.2% |
| 2022 | −10.7% | −20.1% | −13.0% | −31.2% | −18.2% |
| 2021 | −9.9% | −11.8% | −1.8% | −4.6% | +28.7% |
| 2020 | +3.1% | −19.9% | +7.5% | +18.2% | +18.3% |
| 2019 | +6.4% | −6.7% | +8.5% | +14.1% | +31.2% |
| 2018 | −4.3% | −18.1% | +0.1% | −1.6% | −4.6% |
| 2017 | +12.5% | −5.7% | +3.6% | +9.2% | +21.7% |
| 2016 | +6.3% | −9.1% | +2.4% | +1.2% | +12.0% |
| 2015 | −12.1% | −15.7% | +0.5% | −1.8% | +1.2% |
| 2014 | −2.9% | −12.4% | +6.0% | +27.3% | +13.5% |
| 2013 | −6.7% | −12.6% | −2.0% | −13.4% | +32.3% |
| 2012 | +11.4% | −7.8% | +3.8% | +2.6% | +16.0% |
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.
LEMB largest drawdowns
Now 2.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 8, 2013 | −28.4% | Oct 20, 2022 | Feb 9, 2026 | 9.5 years | 12.8 years |
| Mar 22, 2012 | −7.8% | Jun 4, 2012 | Aug 3, 2012 | 2 months | 4 months |
| Feb 25, 2026 | −6.0% | Mar 30, 2026 | Aug 7, 2026 | 33 days | 5 months |
| Oct 28, 2011 | −5.2% | Dec 19, 2011 | Jan 24, 2012 | 52 days | 3 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
LEMB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2011 |
|---|---|---|---|---|
| Annualized return | +8.0% | +1.7% | +1.2% | +0.7% |
| Volatility (annualized) | 7.2% | 8.8% | 10.2% | 10.1% |
| Sharpe ratio | 0.50 | -0.18 | -0.06 | -0.03 |
| Sortino ratio | 0.72 | -0.24 | -0.08 | -0.04 |
| Best month | +4.6% | +7.5% | +7.5% | +9.3% |
| Worst month | −5.0% | −5.0% | −11.9% | −11.9% |
| Best 12 months | +18.8% | +18.8% | +18.8% | +18.8% |
| Worst 12 months | −1.7% | −20.7% | −20.7% | −20.7% |
| Positive months | 69% | 60% | 57% | 55% |
| Beta vs S&P 500 | 0.29 | 0.32 | 0.33 | — |
| Correlation with S&P 500 | 0.50 | 0.57 | 0.49 | — |
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.
LEMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 169 | −20.7% | +2.8% | +18.8% | 57% |
| 3-year (a year) | 145 | −8.5% | −0.6% | +9.5% | 43% |
| 5-year (a year) | 121 | −4.9% | −0.4% | +4.7% | 44% |
| 10-year (a year) | 61 | −2.7% | −0.7% | +2.8% | 38% |
Every holding period starting at a month-end since 2011. Returns for 3 years and longer are annualized.
LEMB performance overview
iShares J.P. Morgan EM Local Currency Bond ETF (LEMB) returned +5.0% over the past year and +1.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2011 it has returned +0.7% a year, turning $10,000 into about $11,098. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −28.4%, from May 8, 2013 to Oct 20, 2022, and it took 3.3 years to get back to the old high. LEMB finished 7 of its 14 full calendar years with a gain; the best year was 2025 (+18.0%) and the worst 2015 (−12.1%). Volatility has been 10.1% a year.
Related: LEMB chart, LEMB dividends, LEMB bond profile. See the LEMB overview for the latest quote and fund facts.
LEMB performance FAQ
What is the LEMB return over the past year?
LEMB returned +5.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 2.5%.
What is the average annual return of LEMB?
LEMB has returned +1.9% a year over 5 years, +1.3% a year over 10 years, +0.7% a year since October 20, 2011 (total return, distributions reinvested).
How much would $10,000 invested in LEMB be worth?
$10,000 invested in LEMB at its first recorded close on October 20, 2011 would be worth about $11,098 on October 23, 2026 with distributions reinvested.
What was the worst year for LEMB?
The worst calendar year was 2015, with a total return of −12.1%. The best was 2025 at +18.0%.
What is the biggest drawdown of LEMB?
The largest peak-to-trough decline was −28.4% between May 8, 2013 and October 20, 2022. It recovered to the old high on February 9, 2026, 3.3 years after the bottom.
How volatile is LEMB?
Over the past 3 years LEMB had an annualized volatility of 7.2% and a Sharpe ratio of 0.50 (excess return over 1–3 month T-bills per unit of risk).