Global X Emerging Markets Bond ETF

Global X Emerging Markets Bond ETF (EMBD) is an actively managed fund. It buys bonds issued by governments and state-backed companies in developing countries, mostly priced in US dollars. It does not track an index. Instead, managers at sub-adviser Mirae Asset pick the countries and issuers. It charges 0.39% a year, close to the 0.40% average for similar funds. Its trailing 12-month yield was 5.9% as of October 27, 2026, and it pays monthly.

• Over the year to Oct 27, 2026, EMBD returned +0.3%, 5th of 8 among similar funds.
• Its 5-year annualized return was +2.6%.
• Its worst full calendar year was 2022 (-13.7%); its best was 2025 (+12.5%).
• The deepest fall in its price history was 24.2% (Sep 14, 2021 to Oct 20, 2022), recovered by Sep 10, 2024.

As of May 31, 2026, the fund held 224 securities; the ten largest made up 14.33% of assets.

The bonds mature in 9.4 years on average (weighted by size), with an average coupon of 5.58%.

• Over the three months to May 31, 2026, investors withdrew a net $53.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +0.81%, +2.30%, -3.01%.

EMBD does not track an index. It is actively managed: portfolio managers at its sub-adviser, Mirae Asset Global Investments (USA) LLC, choose the bonds. At least 80% of net assets must go into emerging market debt, meaning fixed- and floating-rate bonds from developing-country governments, government-linked entities and companies. Most are issued in US dollars, though some may be in local currencies. The fund can own investment-grade bonds and high-yield "junk" bonds, which pay more because default is likelier.

Managers first decide which countries to favor, weighing economic indicators, trade terms, politics and geopolitics. Then they compare individual bonds to spot ones that look cheap relative to others. No single country can exceed 20% of the fund, and up to 20% may sit in cash, US Treasuries or developed-market bonds for liquidity. There is no set rebalancing schedule. Bonds can be sold any time the managers see overvaluation, weakening credit or a worsening economic backdrop.

As of May 31, 2026, the fund held 224 positions, and the 10 largest made up about 14% of assets. Mexico was the biggest country weight at about 12%, followed by Chile and Brazil. The largest single holding was a US Treasury note due 2027, at about 1.9%, followed by bonds from South Africa's Eskom Holdings, Brazil and Argentina.

• EMBD charges 0.39% a year, versus an average of 0.4% for the similar funds below (5th of 8, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $40 in the first year and $493 over 10 years (assuming a 5% annual return).

EMBD pays monthly income at a higher yield than many core bond funds, but it takes on more emerging-market credit risk to get it.

EMBD's main appeal is income. Its trailing 12-month yield was 5.9% as of October 27, 2026, and it pays monthly. It costs 0.39% a year. In the SEC's standard example, that comes to about $40 in the first year on $10,000. The trade-off is more price risk than many core bond funds carry. The fund launched in June 2020, so it has no record from the 2008 crisis or the 2020 crash. In the 2022 bear market, it fell 20.5% from January to September and took about 21 months to recover. Its deepest drop was 24.2%, from September 2021 to October 2022, and recovery took about 23 months. Its worst calendar year was 2022, at -13.05%. Anyone who had to sell shares during that stretch would have sold at a loss. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by bond funds with the closest average maturity and issuer mix (N-PORT).