iShares J.P. Morgan USD Emerging Markets Bond ETF
Emerging-markets bond index ETF · tracks J.P. Morgan EMBI Global Core Index
As of its 2026 Q2 report, iShares J.P. Morgan USD Emerging Markets Bond ETF held 676 positions with $14.51B in net assets. Its ten largest holdings made up 6.6% of the fund. The EMB share class costs 0.39% a year. Over the 12 months to May 2026, EMB returned 12.1%, with dividends reinvested. In 2026 Q3 it added 18 new positions and exited 78.
The iShares J.P. Morgan USD Emerging Markets Bond ETF (the Fund ) seeks to track the investment results of an index composed of U.S. dollar-denominated, emerging market bonds.
The fund tracks the J.P. Morgan EMBI Global Core Index, a market-value-weighted benchmark of U.S. dollar-denominated emerging market bonds issued by sovereign and quasi-sovereign entities, using representative sampling to hold a subset of index securities with similar investment characteristics. The fund invests at least 80% of assets in index components and may use up to 10% in derivatives and non-index fixed income securities to track the index. Because the fund samples rather than holds all index constituents, its returns may diverge from the index.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
Argentina Republic Government International Bonds 4.13% floating · due 2035-07-09 | 1.10% | $159.56M | — |
BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | 0.90% | $129.83M | — |
Ecuador Government International Bonds 6.90% · due 2035-07-31 | 0.77% | $111.88M | — |
Argentina Republic Government International Bonds 0.75% floating · due 2030-07-09 | 0.71% | $103.57M | — |
Argentina Republic Government International Bonds 5.00% · due 2038-01-09 | 0.63% | $91.46M | — |
Ghana Government International Bonds 5.00% floating · due 2035-07-03 | 0.52% | $75.96M | — |
Argentina Republic Government International Bonds 3.50% floating · due 2041-07-09 | 0.52% | $74.89M | — |
Uruguay Government International Bonds 5.10% · due 2050-06-18 | 0.51% | $73.89M | — |
EAGLE FUNDING LUXCO SARL 5.50% · due 2030-08-17 | 0.50% | $72.57M | — |
Oman Government International Bonds 6.75% · due 2048-01-17 | 0.42% | $60.88M | — |
The 200 largest of 676 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Bonds | 98.00% |
| Cash & short-term | 0.90% |
How it has done
EMB share class · total returns with dividends reinvested
Volatility over the last 12 months: 5.58%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iShares J.P. Morgan USD Emerging Markets Bond ETF is an emerging-markets bond index ETF that tracks the J.P. Morgan EMBI Global Core Index.
- Asset class
- Bonds
- Region
- Emerging markets
- Management
- Index (passive)
- Fund type
- ETF
- Credit quality
- Mixed credit
- Rate sensitivity
- Intermediate duration
- Features
- Master-feeder
- Expense ratio, by class
- 0.39%· EMB 0.39%
- Portfolio turnover
- 15.00% a year · as of 2026 Q1
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
18 new· the largest 7
78 exited· the largest 6
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 93.3% |
| Floating rate | 6.4% |
| Zero-coupon or unclassified | 0.3% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.2% |
| 1-3y | 13.1% |
| 3-5y | 17.4% |
| 5-10y | 32.6% |
| 10y+ | 36.7% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 53% |
| Interest rates | 47% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +3.85 yr |
| High yield | +2.85 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.01 yr | 0% |
| 1 yr | 0.28 yr | 5% |
| 5 yr | 2.26 yr | 37% |
| 10 yr | 1.84 yr | 30% |
| 30 yr | 1.67 yr | 28% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.17 yr | 3% |
| 5 yr | 2.01 yr | 30% |
| 10 yr | 1.55 yr | 23% |
| 30 yr | 2.96 yr | 44% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.01 | +0.00 | +0.00 | $15 | $0 |
| 1 yr | +0.28 | +0.09 | +0.08 | $132.1k | $117.8k |
| 5 yr | +2.26 | +1.00 | +1.01 | $1.45m | $1.47m |
| 10 yr | +1.84 | +0.84 | +0.72 | $1.21m | $1.04m |
| 30 yr | +1.67 | +1.92 | +1.04 | $2.79m | $1.51m |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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