PCYvsEMBETF Comparison
VS
ETF 2
EMB
iShares J.P. Morgan USD Emerging Markets Bond ETF
This fund is part of
EM Government Bonds
+0.13%
Invesco Emerging Markets Sovereign Debt ETF (PCY) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) belong to the same industry segment: EM Government Bonds. PCY's top 3 sector exposures are Sovereign, Municipal and Finance. In contrast, EMB's top sector exposures are Sovereign, Energy and Finance. PCY is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.39% for EMB. PCY is down -1.02% year-to-date (YTD) with +$35M in YTD flows. EMB performs better with 0.1% YTD performance, and -$2.13B in YTD flows. Run a side-by-side ETF comparison of PCY and EMB 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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PCY vs EMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PCY EMB | -1.62%-1.36% | -3.82%-2.42% | -1.02%+0.10% | +1.23%+2.72% | +31.76%+29.41% | +2.48%+6.21% |
| Flows | PCY EMB | -$78M-$524M | -$65M+$553M | +$35M-$2.13B | +$68M-$290M | -$304M-$1.72B | -$802M-$3.40B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PCY EMB | +4.83%+3.45% | +5.60%+4.29% | +7.29%+5.19% | +8.92%+6.60% |
| Max drawdown | PCY EMB | -4.14%-2.58% | -5.09%-4.03% | -8.39%-4.81% | -36.93%-28.49% |
| Max drawdown duration | PCY EMB | 87d92d | 106d96d | 274d57d | 1455d1415d |
Trading data
PCY | EMB | |
Last sale 9/17/2026 at 3:56 PM | $20.82 | $93.60 |
| Previous close 09/16/2026 | $20.67 | $93.06 |
| Consolidated volume 09/16/2026 | ||
| 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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PCY | EMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/17/2026 at 3:56 PM
Live
Closed
PCY | EMB | |
|---|---|---|
| Last price | $20.82 | $93.60 |
| 1D performance | +0.73% | +0.57% |
| AuM | $1.28 B | $14.01 B |
| E/R | 0.5% | 0.39% |
Characteristics
PCY | EMB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | iShares |
| Benchmark | DBIQ Emerging Markets USD Liquid Balanced Index | JP Morgan Emerging Markets Bond Index EMBI Global Core Index |
| N° of holdings | 102 | 612 |
| Asset class | Bonds | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 11, 2007 | December 17, 2007 |
| ESG | No | No |
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Exposure
Countries
PCY
Other
100%
EMB
Other
100%
Sectors
PCY
Sovereign
96.23%
Other
3.77%
EMB
Sovereign
86.55%
Other
13.45%
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Diversification
PCY
Total weight of top 15 holdings out of 15
16.7%
EMB
Total weight of top 15 holdings out of 15
9.24%
Top 15 holdings
Data as of July 31, 2026
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%
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%
Frequently asked questions about PCY and EMB
How have the PCY and EMB ETFs performed in 2026?
As of September 16, 2026, PCY is down -1.02% year-to-date (YTD), while EMB has returned 0.1%. That puts EMB better performer ahead so far this year.
Which ETF is attracting more investor money: PCY or EMB?
Year-to-date, the PCY ETF saw +$35M in flows, compared to -$2.13B for EMB.
Which ETF is more volatile: PCY or EMB?
Over the past year, PCY had a volatility of 5.6%, while EMB experienced 4.29%.
Which ETF is bigger: PCY or EMB?
As of September 16, 2026, PCY holds $1.28 B in assets under management (AUM), while EMB manages $14.01 B.
What sectors do the PCY and EMB ETFs invest in?
PCY leans toward sectors like Sovereign. Meanwhile, EMB focuses on Sovereign.
What are the top holdings of the PCY ETF and EMB ETF?
PCY top holdings include Poland, 4.875% 12feb2030, USD, Pakistan, 8.875% 8apr2051, USD and Pakistan, 7.375% 8apr2031, USD. EMB holds in its top three: BlackRock Cash Funds - Treasury, Argentina, 4.125% 9jul2035, USD and Ecuador, 6.9% 31jul2035, USD.
Which ETF is more diversified: PCY or EMB?
PCY holds 102 securities with 16.7% of its assets in the top 15. EMB has 614 securities and a top 15 weight of 9.24%.
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