Global X Emerging Markets Bond ETF

EMBD

時価総額 $2.43億

Emerging Market debt (measured by JPMorgan EMBI Global Core Index) declined in a volatile first quarter of 2026. EMBD returned -1.53% in 1Q26 versus -1.93% for its benchmark, resulting in 40 basis points of relative outperformance. We believe the outlook for EM debt has become more challenging, with risks tilted to the downside as the path to resolving the Middle East conflict appears difficult and a return to pre-war conditions in the Strait of Hormuz remains uncertain.

Normalizing yield curves, easing monetary policy in the U.S., and a weakening dollar are just a few macro factors that hit the bond markets in 2025. The latter carved a path for emerging market (EM) bond strength last year, giving them the “wow” factor relative to their fixed income peers.

At the same time developed markets have been generating policy and macro noise, emerging markets have been quietly outperforming. The inextricable relationship between the direction of U.S. monetary policy and emerging market risk assets remains powerful, but this time the rally is not just about the Fed.

In a previous article, we highlighted the benefits of getting international bond exposure in the context of using passive funds to achieve this level of fixed income diversification. Here, active strategies will be discussed in their application to the international bond market, which could be beneficial for further risk mitigation.

Both iShares J.P. Morgan USD Emerging Markets Bond ETF and Global X Emerging Markets Bond ETF invest in Emerging Market bonds, both government and corporate issued. After reviewing both ETFs, two comparisons are done.  First just using the EM funds; a second comparing the better EM fund against other investing choices for bonds. While the results show EMBD has provided a higher return, long term it has trailed funds invested in other classes of bonds.

Earlier in May, VettaFi hosted an Income Investment Strategy Symposium. Many of the experts we talked to highlighted ETFs and we partially marketed the event on this website with “ETF” in the name.

Q4 Report: Tax-Exempt Bond Funds Hit Second Highest Quarterly Return As Fixed Income Rebounds From Q3 Loss