The iShares J.P. Morgan EM High Yield Bond ETF (EMHY) is an exchange-traded fund designed to track the performance of high-yield corporate bonds issued by companies in emerging markets. The ETF is managed by BlackRock through its iShares platform and trades under the ticker EMHY on the Nasdaq.

Classified as an international fixed-income ETF, the fund invests in high-yield (below investment-grade) corporate bonds issued by companies headquartered in emerging markets. Its strategy provides exposure to securities that offer higher income potential than investment-grade bonds while assuming greater credit risk.

The ETF follows a passive management approach and seeks to replicate the performance of the J.P. Morgan Corporate EMBI Diversified High Yield Index, a benchmark composed of U.S. dollar-denominated high-yield corporate bonds issued by companies in emerging markets.

Diversification and sector exposure

EMHY provides exposure primarily associated with:

• Emerging market corporate bonds.

• High-yield bonds.

• Fixed income.

• Corporate credit.

• Latin America.

• Asia.

• Middle East.

• Emerging markets.

The portfolio holds hundreds of bonds issued by companies across multiple industries and emerging-market countries, providing broad geographic and sector diversification within the high-yield corporate credit segment.

The ETF's performance reflects both the financial condition of the underlying issuers and changes in the broader macroeconomic environment across emerging markets.

Structure and costs

EMHY shares trade on the secondary market on the NASDAQ during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the ETF's market price with its net asset value (NAV).

The fund charges a management fee as outlined in its prospectus and does not apply a performance fee. Interest income generated by the underlying bond portfolio is distributed periodically to shareholders according to the fund's distribution policy.

History and evolution of the ETF

The iShares J.P. Morgan EM High Yield Bond ETF was launched in 2012 to provide investors with exchange-traded access to the emerging-market high-yield corporate bond market.

Since inception, the fund has tracked multiple credit cycles, including periods of economic expansion, rising global interest rates, and shifts in investor sentiment toward emerging-market debt.

In recent years, monetary policy decisions by major central banks, changes in credit spreads, economic recovery across emerging markets, and developments in the global corporate bond market have continued to shape the performance of the securities held by the ETF.

Additional Information

iShares J.P. Morgan EM High Yield Bond ETF (United States) is an exchange-traded fund (ETF), with assets under management totaling $623.12 million.

Over the past 12 months, iShares J.P. Morgan EM High Yield Bond ETF recorded a return of 9.59%, with its price trading between $38.98 and $40.96 during the same period.

The ETF is traded under the ticker EMHY.