EMB vs SPY

Comparison between ISHARES J.P. MORGAN USD EMERGING MARKETS BOND ETF (EMB, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed EMB, delivering a return of +13.3% compared to +2.0%

EMB vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	EMB(ETF)	SPY(ETF)
Net Assets	$14B	$652B
Expense Ratio	0.39%	0.09%
Max Drawdown	37.41%	56.47%
Sharpe Ratio	1.51	2.07
5Y Beta	0.26	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	3.97%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

EMB

$14B

Winner

SPY

$652B

Expense Ratio

EMB

0.39%

Winner

SPY

0.09%

Max Drawdown

Winner

EMB

37.41%

SPY

56.47%

Sharpe Ratio

EMB

1.51

Winner

SPY

2.07

5Y Beta

Winner

EMB

0.26

SPY

1.00

P/E Ratio

EMB

N/A

SPY

28.24

Forward P/E

EMB

N/A

SPY

21.85

5Y Dividends CAGR

EMB

3.97%

Winner

SPY

5.43%

5Y EPS CAGR

EMB

N/A

SPY

25.79%

Debt to Equity

EMB

N/A

SPY

22.35%

P/S Ratio

EMB

N/A

SPY

3.55

P/B Ratio

EMB

N/A

SPY

5.29

EMB vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	EMB	SPY
1 month	+1.53%	+9.11%
3 months	+0.74%	+6.59%
6 months	+2.71%	+10.56%
1 year	+13.02%	+32.04%
5 years(CAGR)	+1.96%	+13.35%
10 years(CAGR)	+3.42%	+15.49%
Max(CAGR)	+4.70%	+8.50%

EMB

+1.53%

Winner

SPY

+9.11%

EMB

+0.74%

Winner

SPY

+6.59%

EMB

+2.71%

Winner

SPY

+10.56%

EMB

+13.02%

Winner

SPY

+32.04%

5Y(CAGR)

EMB

+1.96%

Winner

SPY

+13.35%

10Y(CAGR)

EMB

+3.42%

Winner

SPY

+15.49%

Max(CAGR)

EMB

+4.70%

Winner

SPY

+8.50%

EMB vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	EMB	SPY
2026	+1.61%	+8.27%
2025	+13.47%	+18.00%
2024	+6.59%	+25.59%
2023	+10.12%	+26.72%
2022	-17.83%	-18.64%
2021	-1.69%	+30.52%
2020	+5.29%	+17.28%
2019	+15.48%	+31.09%
2018	-5.71%	-5.24%
2017	+9.90%	+20.78%
2016	+9.38%	+13.59%
2015	+1.39%	+1.31%
2014	+6.03%	+14.56%
2013	-8.06%	+29.00%
2012	+18.00%	+14.17%
2011	+7.19%	+0.85%
2010	+10.67%	+13.14%
2009	+13.44%	+22.67%
2008	-2.27%	-36.25%
2007	+0.29%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

EMB vs SPY Drawdown Comparison

The maximum drawdown for EMB was -34.70%, occurring on Oct 28, 2008. Recovery took 293 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current EMB drawdown is -0.31%.

Rank	EMB	SPY
#1	-34.70% May 21, 2008 - Jul 21, 2009	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-28.75% Sep 2, 2021 - Aug 11, 2025	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-26.55% Mar 4, 2020 - Nov 13, 2020	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-14.48% May 2, 2013 - Jul 8, 2014	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-8.91% Jan 5, 2018 - Mar 20, 2019	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-7.56% Sep 7, 2016 - Apr 28, 2017	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.43% Nov 4, 2010 - Jul 28, 2011	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-7.37% Aug 27, 2014 - Apr 2, 2015	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-7.34% Dec 31, 2020 - Aug 31, 2021	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-7.09% Aug 2, 2011 - Nov 3, 2011	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-6.45% Apr 20, 2010 - Jul 8, 2010	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-6.36% Apr 27, 2015 - Mar 17, 2016	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.88% May 3, 2012 - Jun 19, 2012	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-4.51% Feb 25, 2026 - Mar 27, 2026	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-4.14% Nov 8, 2011 - Jan 26, 2012	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between EMB and SPY is 0.83 which considered as a strong positive correlation - the stocks tend to move together.

0.83

-101

Dividend Comparison (1999 - 2026)

EMB vs SPY dividend yield comparison.

Year	EMB	SPY
2026	1.75%	0.24%
2025	4.98%	1.07%
2024	5.46%	1.21%
2023	4.74%	1.40%
2022	5.04%	1.65%
2021	3.89%	1.20%
2020	3.88%	1.52%
2019	4.51%	1.75%
2018	5.64%	2.04%
2017	4.54%	1.80%
2016	4.83%	2.03%
2015	4.84%	2.06%
2014	4.56%	1.87%
2013	4.75%	1.81%
2012	4.17%	2.18%
2011	4.83%	2.05%
2010	5.15%	1.80%
2009	5.63%	1.95%
2008	5.63%	3.02%
2007	0.16%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%