- During Q2 2021, EMBD posted a total return of +3.10%. This compares to a gain of +4.49% for the JP Morgan EMBI Global Core Index, the fund’s benchmark, over the same period.
- During the quarter, EMBD underperformed its benchmark by 139 basis points. EMBD’s lower duration relative to the index was a main detractor to performance as US treasuries rallied during the period.
- We expect the EM-DM growth differences to narrow in the second half of 2021 as the vaccination-led recovery begins to positively impact EM.
For further details see:
Emerging Markets Bond ETF (EMBD): Q2 2021 Commentary