At a glance
XEMD charges 0.29% a year, below the 0.51% average of the 7 funds most like it (the cheapest of 8). It has $843.2M in assets, the 2nd largest of that group; it paid 5.9% of its price in distributions over the past 12 months, monthly. Over the past year it returned +2.5% with distributions reinvested, 4th of those 8 funds; over three years it returned +10.5% a year. Its ten largest positions make up 9.4% of the fund, out of 425 in all.
The short version
BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) is an index fund. It holds U.S. dollar bonds issued by emerging-market governments and companies those governments own, and it only includes bonds with an average life under 10 years. At 0.29% a year, it was the cheapest of eight similar funds compared, where the average was 0.51%. It paid a 5.9% trailing yield monthly as of October 27, 2026, but many of its bonds are junk-rated.
Price history
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XEMD +2.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| XEMD official prospectus, to Dec 31, 2025 | — | +13.47% | — | — | — | +9.83% |
| Bloomberg Global-Aggregate Total Return Index Value Unhedged USD (reflects no deduction for fees, expenses, or taxes) index, same period | — | +8.17% | — | — | — | +2.80% |
| J.P. Morgan EMBI Global Diversified Liquid 1-10 Year Maturity Index (reflects no deduction for fees, expenses, or taxes) index, same period | — | +14.04% | — | — | — | +10.24% |
| XEMD price data to Oct 27, 2026 | +1.0% | +2.5% | +10.5% | — | — | +8.0% |
- Over the year to Oct 27, 2026, XEMD returned +2.5%, 4th of 8 among similar funds.
- Its worst full calendar year was 2024 (+8.8%); its best was 2025 (+14.0%).
- The deepest fall in its price history was 10% (Aug 12, 2022 to Oct 20, 2022), recovered by Jan 18, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +1.0% | — |
| 2025 | +14.0% | +13.47% |
| 2024 | +8.8% | +9.26% |
| 2023 | +10.3% | +9.96% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.8600 | |
| 2025 | $2.7400 | +4.2% |
| 2024 | $2.6300 | +4.0% |
| 2023 | $2.5300 |
What's inside
As of Jul 31, 2026, the fund held 425 securities; the ten largest made up 9.4% of assets.
| Holding | Weight | |
|---|---|---|
| REPUBLIC OF ARGE S/UP 07/09/35 Bonds and notes | 1.76% | |
| REPUBLIC OF ECUA S/UP 07/31/35 Bonds and notes | 1.30% | |
| REPUBLIC OF ARGE S/UP 01/09/38 Bonds and notes | 1.03% | |
| REPUBLIC OF ARGE S/UP 07/09/30 Bonds and notes | 0.97% | |
| REPUBLIC OF GHAN S/UP 07/03/35 Bonds and notes | 0.91% | |
| REPUBLIC OF ARGE S/UP 07/09/41 Bonds and notes | 0.84% | |
| EAGLE FUNDING LU 5.5% 08/17/30 Bonds and notes | 0.71% | |
| UKRAINE GOVERNME S/UP 02/01/32 Bonds and notes | 0.69% | |
| REPUBLIC OF ECU 8.75% 01/29/34 Bonds and notes | 0.63% | |
| REPUBLICA ORIEN 5.75% 10/28/34 Bonds and notes | 0.54% | |
| UKRAINE GOVERNME S/UP 02/01/34 Bonds and notes | 0.54% | |
| FED REPUBLIC O 6.625% 03/15/35 Bonds and notes | 0.53% | |
| OMAN GOV INTER 5.625% 01/17/28 Bonds and notes | 0.52% | |
| PETRONAS CAPITAL 3.5% 04/21/30 Bonds and notes | 0.52% | |
| REPUBLIC OF GHAN S/UP 07/03/29 Bonds and notes | 0.51% |
By country
Turkey 5.54%Argentina 4.77%Cayman Islands 4.21%Poland 3.82%Brazil 3.73%By issuer
US government agencies 88.1%Companies 10.29%The bonds mature in 5.6 years on average (weighted by size), with an average coupon of 5.41%.
Source: N-PORT holdings report as of Jul 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jul 31, 2026, investors withdrew a net $59.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.94%, +0.43%, -0.64%.
How it works
XEMD tracks the J.P. Morgan EMBI Global Diversified Liquid 1-10 Year Maturity Index. That index starts with a broader J.P. Morgan benchmark of dollar bonds from emerging-market governments and "quasi-sovereigns," meaning entities fully owned or guaranteed by a national government. It keeps only bonds with at least $1 billion outstanding and an average life under 10 years. The broader index caps countries with large debts and gives that weight to smaller borrowers, so no single country dominates. As of December 31, 2025, the index covered 52 countries. The largest were Saudi Arabia, Turkey, Argentina, Mexico and the United Arab Emirates.
Each bond's weight is based on its market value. The index rebalances monthly, on the last business day. A bond must be in U.S. dollars and at least 2.5 years from maturity to join. It leaves the index once it is less than six months from maturity. Both investment-grade and junk bonds qualify. Convertible bonds do not.
BondBloxx does not buy every bond. It uses "representative sampling": it holds a subset of bonds chosen to match the index's maturity, credit quality and yield. As of July 31, 2026, the fund held 425 bonds with an average maturity of 5.6 years. The largest positions were Argentina's 2035 bond (1.8%) and Ecuador's 2035 bond (1.3%). Portfolio turnover was 28%.
What it really costs
- XEMD charges 0.29% a year, versus an average of 0.51% for the similar funds below (1st of 8, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $30 in the first year and $368 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| XEMD | $30 | $93 | $163 | $368 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
It offers high monthly income from emerging-market government debt, but much of that debt is junk-rated and from countries with shaky repayment records, so it fits best as a small side position.
XEMD could add monthly income and exposure to borrowers outside the U.S. and Europe. Its trailing yield was 5.9% as of October 27, 2026, and it pays monthly. Its 0.29% fee is below the 0.51% average of similar funds. Its track record is short. The fund launched June 30, 2022, so it missed the 2008 and 2020 crashes and most of the 2022 bear market. Its deepest drop, 10%, ran from August 12 to October 20, 2022, and it recovered by January 18, 2023, about three months later. Every full calendar year from 2023 to 2025 was positive, and the weakest was 2024 at 9.26%. A deep emerging-market crisis has not tested it yet. Its large positions in bonds from Argentina, Ecuador, Ghana and Ukraine could force sales at low prices in a bad year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Income seekers who accept junk-rated government debt and want monthly payouts. The trailing yield was 5.9% as of October 27, 2026.
- Cost-conscious investors wanting emerging-market dollar bonds. At 0.29% a year, it was the cheapest of eight similar funds compared.
- Investors who prefer shorter maturities. The average was 5.6 years as of July 31, 2026, against 6.1 to 7.9 years at similar funds.
Look elsewhere if
- Investors who want safety. Many of its largest holdings are lower-rated bonds from Argentina, Ecuador, Ghana and Ukraine, which may struggle to repay.
- Those who want a long track record. It launched in June 2022, so it has no history through the 2008 or 2020 crashes.
- Investors who want emerging-market currency exposure. It holds only U.S. dollar bonds, while LEMB and EMLC hold local-currency debt instead.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
| Fund | Avg. maturity | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| XEMD this fund | 5.6 yrs | 0.29% | $843.2M | +2.5% | +10.5% |
| HYEM VanEck Emerging Markets High Yield Bond ETF | 6.1 yrs | 0.4% | $521.5M | +3.1% | +10.5% |
| EMCB WisdomTree Emerging Markets Corporate Bond … | 7.2 yrs | 0.6% | $98.5M | +0.2% | +7.6% |
| EMTL SPDR DoubleLine Emerging Markets Fixed Inco… | 7.6 yrs | 0.65% | $77.1M | +1.2% | +7.7% |
| FEMB First Trust Emerging Markets Local Currency… | 7.1 yrs | 0.85% | $361.9M | +2.8% | +8.2% |
| EMHY iShares J.P. Morgan EM High Yield Bond ETF | 7.9 yrs | 0.5% | $623.4M | +2.1% | +12.3% |
| LEMB iShares J.P. Morgan EM Local Currency Bond … | 7.5 yrs | 0.3% | $715.4M | +3.8% | +8.3% |
| EMLC VanEck J. P. Morgan EM Local Currency Bond … | 7.5 yrs | 0.3% | $4.87B | +2.5% | +7.7% |
Questions investors ask
Does XEMD pay monthly dividends?
Yes. XEMD pays income monthly. Over the 12 months to October 27, 2026, it paid $2.55 per share, a trailing yield of 5.9%. The payments come from interest on its emerging-market government bonds, which had an average coupon of 5.41% as of July 31, 2026. The amount can change from month to month. It depends on the bonds the fund holds and on whether any issuer misses a payment.
What is the expense ratio of XEMD?
XEMD charges 0.29% a year, according to its prospectus filed February 27, 2026. That works out to about $30 in the first year on a $10,000 investment. In the SEC's standard example, which assumes a 5% annual return, costs add up to $93 over three years, $163 over five and $368 over ten. The average for similar funds compared was 0.51%, which makes XEMD the cheapest of the eight.
XEMD vs HYEM: what's the difference?
Both hold dollar-denominated emerging-market bonds, but they follow different strategies. XEMD tracks a J.P. Morgan index of government and government-owned issuers that mixes investment-grade and junk bonds. HYEM, as its name says, focuses on high-yield emerging-market bonds. HYEM costs 0.40% against XEMD's 0.29%, and its average maturity is a bit longer at 6.1 years. As of October 27, 2026, HYEM returned 3.1% over one year against XEMD's 2.5%. Both returned 10.5% a year over three years.
Is XEMD a risky bond fund?
Yes, it carries more risk than a typical U.S. bond fund. Its index includes junk bonds, and its largest holdings are bonds from Argentina, Ecuador, Ghana and Ukraine. Governments like these may be unable or unwilling to repay on time. The fund's deepest drop was 10%, in late 2022, and its worst quarter lost 3.47%. Because its average maturity is 5.6 years, rising interest rates can also push its price down.
How has XEMD performed since launch?
It has been positive in every full calendar year so far. According to its prospectus, the fund returned 9.96% in 2023, 9.26% in 2024 and 13.47% in 2025. From its June 2022 launch through December 31, 2025, it returned 9.83% a year, while its index returned 10.24%. The gap reflects fees and sampling. Based on price data, it returned 2.5% over the year to October 27, 2026.