NEMD vs XEMD: Grades, Fees and Holdings Compared

Neuberger Berman Emerging Markets Debt Hard Currency ETF

NEMDCNYSE Arca

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF

XEMDACboe

Overlap

No data

Expense ratio

XEMD −0.56pt a year

NEMD0.85%XEMD0.29%

Avg volume · 30D

XEMD 19.2×the volume

NEMD10.4KXEMD200K

NEMD vs XEMD Performance

Oct 31, 2025 – Nov 2, 2026

+3.4%NEMD+2.9%XEMD

Expense ratio: NEMD 0.85%; XEMD 0.29%, better
Fund size: NEMD $151M; XEMD $1.01B
1Y total return: NEMD +3.4%, better; XEMD +2.9%
Yield (12M): NEMD 6.00%; XEMD 6.39%, better
Holdings: NEMD 273; XEMD 431
Avg volume (30D): NEMD 10.4K sh; XEMD 200K sh, better
NAV per share: NEMD $50.45; XEMD $43.28
52W range

ETF.net Grade

Pillar letters and Scores for NEMD, XEMD, with each pillar’s weight
Pillar	NEMD	XEMD
Cost30% weight	F0	A81Higher
Mission25% weight	A97Higher	A96
Risk15% weight	A71	A74Higher
Tradability15% weight	C54	A88Higher
Holdings10% weight	F22	A75Higher
Durability5% weight	D32	B63Higher

Rank among Emerging Markets Bonds (US Dollar) funds

How we build Categories ›

Same Category. NEMD and XEMD are both graded against the same 17 Emerging Markets Bonds (US Dollar) funds, so their Grades compare head to head.

Emerging Markets Bonds (US Dollar)⁠

Category · 17 funds

See all 17 ›

XEMD ranks 2nd and NEMD 12th of 17 funds in the Emerging Markets Bonds (US Dollar) Category.

Rank 1AVWOBVanguard Emerging Markets Government Bond ETFScore 86
Rank 2AXEMDBondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETFScore 83
Rank 3AEMBiShares J.P. Morgan USD Emerging Markets Bond ETFScore 77
Rank 11CBREMiShares Emerging Markets Bond Active ETFScore 51
Rank 12CNEMDNeuberger Berman Emerging Markets Debt Hard Currency ETFScore 46
Rank 12CTEMDTempleton Emerging Markets Debt ETFScore 46

Our read on each fund

ETF.net Research

NEMDCNeuberger Berman Emerging Markets Debt Hard Currency ETF

XEMDABondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF

In short

NEMD Neuberger Berman's active take on emerging-markets debt, issued in hard currency: credit calls drive the outcome instead of local-currency swings. A 2025 arrival holding roughly 300 positions and paying monthly.

XEMD J.P. Morgan's flagship emerging-markets dollar-bond index with the long end trimmed off: sovereign and quasi-sovereign debt maturing inside 10 years, priced in US dollars, for 0.29% a year.

Stated mandate

NEMD The Fund invests in emerging-markets debt and other fixed-income instruments, including sovereign debt and direct debt obligations. It may also transact in foreign currencies for hedging or investment purposes.

XEMD The Fund seeks to track an index of U.S.-dollar-denominated emerging-market bonds with an average life below 10 years.

Why people hold it

NEMD Hard-currency mandate: the bonds are issued in major currencies, so the exposure is sovereign and corporate credit rather than a bet on the peso, rand or rupiah.
Actively run, not index-shackled. The team can shift between sovereign debt and direct corporate obligations, and transact in foreign currencies to hedge or to add exposure.
Spread across roughly 300 positions, with income paid out monthly.
The portfolio lines up closely with the emerging-markets debt mandate on the label. Little drift between the pitch and the holdings.

XEMD Costs 0.29% a year, below the median fee among the emerging-markets funds we grade, and it pays monthly.
Tracks the 1-10 year slice of the EMBI Global Diversified family, leaving out the 20- and 30-year paper that drives the biggest rate swings.jpmorgan.com
The index caps each country at 10% and admits only bonds with at least $1 billion outstanding, so no single borrower dominates and thin issues are screened out.jpmorgan.com
Every bond is dollar-denominated, so local-currency moves stay out of returns. It grades in the top quartile of its emerging-markets peer group.

Worth knowing

NEMD At 0.85% a year, it is the priciest fund in its peer group. Index-tracking rivals JPMB and EMBD charge 0.39%.
Launched in August 2025, so the record is short and the fund is still building trading volume. Thinner volume usually means wider bid/ask spreads.
Hard currency strips out the local-FX swing, not the credit risk. These are still emerging-market borrowers, and sovereign stress shows up in prices.

XEMD This is emerging-market government and quasi-government credit: default and spread risk stay on the table, even without currency risk.jpmorgan.com
Stopping near 10 years cuts rate sensitivity, but it also means no exposure to the long-dated EM bonds some allocations lean on.jpmorgan.com
Launched in 2022, moderately traded, and holding roughly 200 bonds: younger and narrower than the category's long-running giants.

Full NEMD profile⁠

Full XEMD profile⁠

NEMD vs XEMD Holdings

How NEMD and XEMD differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile86.6%
Asset classFixed Income100%

Sector

No Sector split for NEMD and XEMD.

Country, concentration and asset class

Country by domicile

Country weights in NEMD and XEMD, widest gap first
Country	More in NEMDMore in XEMD	NEMD	XEMD
Romania	NEMD +5.7 points	70.8%	65.1%
Mexico	NEMD +2.8 points	6.6%	3.8%
Philippines	XEMD +2.6 points	0.2%	2.8%
Poland	XEMD +2.3 points	1.5%	3.8%
Brazil	XEMD +2.2 points	1.6%	3.8%
Malaysia	XEMD +1.5 points	0.0%	1.5%
China	XEMD +1.5 points	0.0%	1.5%
United Kingdom	NEMD +1.0 points	1.0%	0.0%
Other countries (12)	NEMD +0.6 points	18.3%	17.7%

Outside the US: NEMD 2% developed, 98% emerging. XEMD 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

NEMD38.1%
XEMD8.9%

Securities held

NEMD262
XEMD427

Asset class

NEMD: Fixed Income
XEMD: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. NEMD holds 262 securities, XEMD 427.

All 284 NEMD holdings⁠All XEMD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

NEMD vs XEMD Cost

Overpaying NEMD vs XEMD

$10,247

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

NEMD 0.85%
$16,199
XEMD 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

NEMD 0.85%
XEMD 0.29%
Overpaying

Year by year

Year	NEMD	XEMD	Overpaying
10	$1,508	$527	$981
20	$5,706	$2,044	$3,662
30	$16,199	$5,952	$10,247

Expense ratio

0.85%NEMD
0.29%XEMD, cheaper

XEMD0.29%NEMD0.85%

0.15%0.85%

Middle half of Emerging Markets Bonds (US Dollar) funds
Median 0.40%

XEMD 4th cheapest of 17 funds

NEMD 17th cheapest of 17 funds

NEMD vs XEMD Dividends

Last 12 months to Nov 2, 2026

Yield (12M): NEMD 6.00%; XEMD 6.39%, better
Payout (12M): NEMD $3.04; XEMD $2.75
Last payment: NEMD $0.26; XEMD $0.21
Ex-dividend: NEMD Oct 27, 2026; XEMD Nov 2, 2026
Paid on: NEMD Oct 30, 2026; XEMD Pays Nov 5, 2026
Frequency: NEMD Monthly; XEMD Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

NEMDMonthly · 15 paymentsAll NEMD payments⁠

XEMDMonthly · 47 paymentsAll XEMD payments⁠

NEMD vs XEMD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: NEMD 6.7%since Sep 2025XEMD 5.2%
Return per unit of riskSharpe ratio, 3 years: NEMD 0.38since Sep 2025XEMD 1.10
Worst fallMax drawdown, 5 years: NEMD −5.0%since Aug 2025XEMD −10.0%since Jun 2022
Market sensitivityBeta, 5 years: NEMD 1.03XEMD 0.64; Market = 1

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