ETF Versus

EMB vs HYG

iShares J.P. Morgan USD Emerging Markets Bond ETF vs iShares iBoxx $ High Yield Corporate Bond ETF

Last updated: 2026-04-02

EMB

iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) is an exchange-traded fund that provides exposure to emerging market bond securities. It charges an above-average expense ratio of 0.39%. The fund offers a high dividend yield of 5.10%. Launched in 2007, the fund has a 19-year track record.

AUM: $14.3B ER: 0.39% Yield: 5.10% Since: Dec 17, 2007
HYG iShares

iShares iBoxx $ High Yield Corporate Bond ETF (HYG) is an exchange-traded fund issued by iShares that provides exposure to below-investment-grade U.S. corporate bonds offering higher yields. It charges an above-average expense ratio of 0.49%. The fund offers a high dividend yield of 5.88%. Launched in 2007, the fund has a 19-year track record.

AUM: $16.3B ER: 0.49% Yield: 5.88% Since: Apr 4, 2007

Quick Verdict

EMB is significantly cheaper at 0.39% vs 0.49% expense ratio, saving you approximately $193 per $10,000 invested over 10 years. EMB has edged ahead over the past year (3.7% vs 0.9%). Income investors may prefer HYG for its higher yield (5.9% vs 5.1%).

Key Metrics

Metric EMB HYG
Expense Ratio 0.39% 0.49%
Dividend Yield 5.1% 5.9%
Fund Family N/A iShares
Category Emerging Market Bond US High Yield Bond

Performance Chart

Indexed to 100 at start (5-year comparison)

70 77 84 91 98 105 2021-04 2022-06 2023-09 2024-12 2026-04
EMB -14.1%
HYG -8.9%

Performance Comparison

Period EMB HYG Difference
1 Month -3.23% -1.13% -2.10%
3 Months -2.53% -1.61% -0.92%
6 Months -1.42% -1.82% +0.40%
YTD -2.53% -1.61% -0.92%
1 Year +3.74% +0.86% +2.88%
3 Years +8.84% +5.62% +3.22%
5 Years -14.09% -8.89% -5.20%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period EMB Fees HYG Fees You Save
$10.000 10 years $767 $960 $193
$10.000 20 years $3.253 $4.052 $799
$10.000 30 years $10.349 $12.832 $2.483
$50.000 10 years $3.835 $4.799 $963
$50.000 30 years $51.746 $64.162 $12.416
$100.000 30 years $103.492 $128.324 $24.832

Risk Metrics

Based on 5 years of daily returns

Metric EMB HYG
Annualized Volatility 9.8% 7.6%
Max Drawdown -32.1% -19.3%
Sharpe Ratio -0.72 -0.80

Dividend Comparison

Metric EMB HYG
Annual Dividend (per share) $4.78 $4.67
Dividend Yield 5.10% 5.88%
Distribution Frequency Monthly Monthly

Which One Should You Choose?

Choose EMB if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose EMB if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Choose HYG if...

you prioritize dividend income and want higher regular distributions from your portfolio.

Related Comparisons

AGG vs HYG BND vs EMB BND vs HYG DGRO vs HYG DVY vs HYG EEM vs HYG EFA vs HYG HDV vs HYG