EMBvsPCYETF Comparison
ETF 1
EMB
iShares J.P. Morgan USD Emerging Markets Bond ETF
This fund is part of
EM Government Bonds
+0.27%
VS
iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Invesco Emerging Markets Sovereign Debt ETF (PCY) belong to the same industry segment: EM Government Bonds. EMB's top 3 sector exposures are Sovereign, Energy and Finance. In contrast, PCY's top sector exposures are Sovereign, Municipal and Finance. EMB is less expensive with a Total Expense Ratio (TER) of 0.39%, versus 0.5% for PCY. EMB is up 0.56% year-to-date (YTD) with -$2.38B in YTD flows. PCY performs worse with -0.14% YTD performance, and +$35M in YTD flows. Run a side-by-side ETF comparison of EMB and PCY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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EMB vs PCY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/21/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | EMB PCY | -0.72%-0.56% | -1.66%-2.72% | +0.56%-0.14% | +3.57%+2.75% | +31.03%+34.06% | +7.29%+4.04% |
| Flows | EMB PCY | -$928M-$6M | -$7M-$65M | -$2.38B+$35M | -$694M+$68M | -$2.03B-$304M | -$3.61B-$788M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | EMB PCY | +3.54%+5.05% | +4.28%+5.65% | +5.16%+7.27% | +6.60%+8.92% |
| Max drawdown | EMB PCY | -2.48%-4.09% | -4.03%-5.09% | -4.56%-8.39% | -28.09%-36.52% |
| Max drawdown duration | EMB PCY | 83d84d | 96d106d | 90d274d | 1403d1449d |
Trading data
EMB | PCY | |
Last sale 9/22/2026 at 1:30 PM | $93.71 | $20.80 |
| Previous close 09/21/2026 | $93.78 | $20.78 |
| Consolidated volume 09/21/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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EMB | PCY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/22/2026 at 1:30 PM
Live
Closed
EMB | PCY | |
|---|---|---|
| Last price | $93.71 | $20.80 |
| 1D performance | -0.07% | +0.10% |
| AuM | $13.82 B | $1.28 B |
| E/R | 0.39% | 0.5% |
Characteristics
EMB | PCY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Invesco |
| Benchmark | JP Morgan Emerging Markets Bond Index EMBI Global Core Index | DBIQ Emerging Markets USD Liquid Balanced Index |
| N° of holdings | 612 | 102 |
| Asset class | Bonds | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 17, 2007 | October 11, 2007 |
| ESG | No | No |
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Exposure
Countries
EMB
Other
100%
PCY
Other
100%
Sectors
EMB
Sovereign
86.55%
Other
13.45%
PCY
Sovereign
96.23%
Other
3.77%
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Diversification
EMB
Total weight of top 15 holdings out of 15
9.24%
PCY
Total weight of top 15 holdings out of 15
16.7%
Top 15 holdings
Data as of July 31, 2026
EMB
BlackRock Cash Funds - Treasury
1.37%
Argentina, 4.125% 9jul2035, USD
1.21%
Ecuador, 6.9% 31jul2035, USD
0.81%
Argentina, 5% 9jan2038, USD
0.70%
Argentina, 0.75% 9jul2030, USD
0.65%
Argentina, 3.5% 9jul2041, USD
0.57%
Ghana, 5% 3jul2035, USD
0.55%
Uruguay, 5.1% 18jun2050, USD
0.52%
Mexico, 5.5% 17aug2030, USD
0.52%
Ukraine, 4% 1feb2032, USD
0.43%
Oman, 6.75% 17jan2048, USD (3)
0.42%
Ecuador, 8.75% 29jan2034, USD
0.39%
Brazil, 6.625% 15mar2035, USD
0.38%
Ecuador, 5% 31jul2040, USD
0.36%
Egypt, 8.5% 31jan2047, USD
0.36%
PCY
Poland, 4.875% 12feb2030, USD
1.49%
Pakistan, 8.875% 8apr2051, USD
1.47%
Pakistan, 7.375% 8apr2031, USD
1.46%
Angola, 9.125% 26nov2049, USD (2)
1.06%
Angola, 9.375% 8may2048, USD
1.05%
Colombia, 8.375% 7nov2054, USD
1.03%
Guatemala, 6.875% 15aug2055, USD
1.03%
Nigeria, 8.25% 28sep2051, USD
1.03%
El Salvador, 7.625% 1feb2041, USD
1.02%
Angola, 9.875% 31mar2037, USD (8)
1.02%
Nigeria, 7.625% 28nov2047, USD
1.02%
Nigeria, 9.248% 21jan2049, USD
1.01%
Trinidad and Tobago, 6.5% 28jan2036, USD
1.01%
Colombia, 5.625% 26feb2044, USD
1.00%
Guatemala, 6.55% 6feb2037, USD
1.00%
Frequently asked questions about EMB and PCY
How have the EMB and PCY ETFs performed in 2026?
As of September 21, 2026, EMB is up 0.56% year-to-date (YTD), while PCY has lost -0.14%. That puts EMB better performer ahead so far this year.
Which ETF is attracting more investor money: EMB or PCY?
Year-to-date, the EMB ETF saw -$2.38B in flows, compared to +$35M for PCY.
Which ETF is more volatile: EMB or PCY?
Over the past year, EMB had a volatility of 4.28%, while PCY experienced 5.65%.
Which ETF is bigger: EMB or PCY?
As of September 21, 2026, EMB holds $13.82 B in assets under management (AUM), while PCY manages $1.28 B.
What sectors do the EMB and PCY ETFs invest in?
EMB leans toward sectors like Sovereign. Meanwhile, PCY focuses on Sovereign.
What are the top holdings of the EMB ETF and PCY ETF?
EMB top holdings include BlackRock Cash Funds - Treasury, Argentina, 4.125% 9jul2035, USD and Ecuador, 6.9% 31jul2035, USD. PCY holds in its top three: Poland, 4.875% 12feb2030, USD, Pakistan, 8.875% 8apr2051, USD and Pakistan, 7.375% 8apr2031, USD.
Which ETF is more diversified: EMB or PCY?
EMB holds 614 securities with 9.24% of its assets in the top 15. PCY has 102 securities and a top 15 weight of 16.7%.
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