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iShares J.P. Morgan $ EM Corp Bond UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B6TLBW47Ticker: EMCR (Borsa Italiana) · IS0Q (Xetra) · EMCR (London SE) · EMCR (SIX)Issuer: iShares
Issuer-declared data
Declared index
J.P. Morgan CEMBI Broad Diversified Core Index
TER
0.50%
Transaction costs
0.06% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
893.2 mln EUR
NAV
89.56 USD (31 August 2026)
Domicile
Ireland
Inception date
17 April 2012
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares J.P. Morgan $ EM Corp Bond UCITS ETF tracks the issuer-declared index: J.P. Morgan CEMBI Broad Diversified Core Index. The declared annual cost (TER) is 0.50%, plus 0.06% in transaction costs estimated by the issuer in the KID. Replication is optimised physical replication (the KID declares optimisation techniques to achieve a return similar to the index); income is distributed to investors. The fund has assets of about 893 million euro, was launched on 17 April 2012 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Share Class is a share class of a Fund, which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the J.P. Morgan CEMBI Broad Diversified Core Index, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index. These may include securities with a relatively low credit rating or which are unrated. The Index measures the total return performance of U.S. Dollar denominated debt issued by companies in emerging market countries. The Index currently includes bonds issued by companies in Latin America, Eastern Europe, the Middle East, Africa, and Asia (excluding Japan). There are currently no minimum rating requirements or rating restrictions on either the corporate bonds or the country of issuance. To be eligible for inclusion in the Index, issuers must meet the index criteria described in the prospectus. The Fund uses optimising techniques to achieve a similar return to its Index. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund.

Keep reading the KID section ▾

The price of fixed income securities may be affected by changing interest rates which in turn may affect the value of your investment. Fixed income securities prices move inversely to interest rates. Therefore, the market value of fixed income securities may decrease as interest rates increase. The credit rating of an issuing entity will generally affect the yield that can be earned on fixed income securities; the better the credit rating the smaller the yield. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares V plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be distributing shares (i.e. income will be paid on the shares quarterly). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.50%: above the median of bond ETFs we track (0.15%).
  • Assets larger than 81% of bond ETFs we track.
  • Average tracking difference over the last 3 years: -0.47% p.a., against a declared TER of 0.50%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Apr 2012 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+70.7%
Annualised
+3.8%
Volatility (ann.)
3.5%
Max drawdown
-20.26%
-4%+16%+36%+56%+76%Apr 2012Oct 2015Jun 2019Jan 2023Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+71%Apr 2012Aug 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-5%-10%-15%-20%-25%-30%20122014201620182020202220242026−20.26% · 24 Oct 2022
Max drawdown
-20.26%
peak → trough
Trough
24 Oct 2022
from the 14 Sept 2021 peak
Recovery time
693 days
recovery only: trough to break-even · ≈ 1 year and 11 months
Underwater
1,098 days
decline + recovery: peak to break-even · ≈ 3 years · → recovered on 16 Sept 2024

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
14 Sept 202124 Oct 2022-20.26%16 Sept 20241,098
21 Feb 202023 Mar 2020-15.76%04 Aug 2020165
02 May 201324 Jun 2013-8.50%14 May 2014377
27 Aug 201416 Dec 2014-6.97%15 Apr 2015231
27 Apr 201520 Jan 2016-6.70%13 Apr 2016352

Calendar-year returns

2016
10.8%
2017
7.7%
2018
-2.5%
2019
13.4%
2020
6.9%
2021
-0.3%
2022
-12.1%
2023
8.0%
2024
6.6%
2025
8.5%
2026
1.7%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20260.60.9-2.01.70.30.4-0.70.61.7
20250.81.6-0.0-0.50.61.50.91.31.00.50.20.58.5
20240.40.61.0-1.11.50.91.51.71.2-1.10.6-0.76.6
20233.0-1.90.90.9-0.80.90.9-0.7-1.0-1.44.03.28.0
2022-1.9-5.2-1.1-2.5-0.5-3.31.5-0.0-4.3-2.25.71.5-12.1
2021-0.3-0.4-0.80.60.60.80.20.7-0.9-0.6-0.60.4-0.3
20201.5-0.1-11.74.44.02.62.50.8-0.60.22.71.36.9
20192.91.01.20.80.42.41.00.30.50.80.41.013.4
2018-0.0-1.2-0.3-0.9-0.8-0.41.5-1.21.0-0.7-0.20.8-2.5
20171.31.60.21.10.7-0.10.90.90.30.2-0.00.37.7
2016-0.41.33.62.0-0.12.51.71.30.2-0.3-2.41.110.8
2015-0.01.70.52.30.1-1.4-0.1-1.8-2.03.2-0.7-1.8-0.3
20140.02.10.40.92.50.6-0.30.9-1.61.1-0.7-2.73.1
2013-0.50.3-0.31.5-2.5-3.91.0-1.71.92.1-1.20.2-3.1
2012-1.72.22.71.01.31.30.40.89.2
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 1 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.47% /anno
Declared TER
0.50%
YearFundIndexDifference
2025+8.48%+8.85%-0.38%
2024+6.57%+7.03%-0.46%
2023+8.03%+8.59%-0.56%
2022-12.12%-13.10%+0.98%
2021-0.31%+0.26%-0.57%
2020+6.89%+7.59%-0.70%
2019+13.38%+13.93%-0.55%
2018-2.53%-2.05%-0.47%
2017+7.68%+8.02%-0.34%
2016+10.80%+11.30%-0.50%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)6.13%7.74%8.34%8.01%8.52%
Max drawdown-5.49%-13.31%-17.41%-22.23%-22.23%
Sharpe-0.57-0.49-0.58-0.33-0.06
Sortino-0.68-0.60-0.73-0.42-0.08
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.20%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Duration and maturities

Duration · effective duration
4.18years

Price sensitivity to rates: the longer, the more the fund moves. What is duration →

Maturity breakdown (% of fund)
0–1 years
2.93%
1–2 years
11.10%
2–3 years
15.98%
3–5 years
34.58%
5–7 years
11.75%
7–10 years
11.57%
10–15 years
2.65%
15–20 years
2.09%
20+ years
6.77%
Cash and derivatives
0.58%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Credit rating

How the portfolio is spread by credit quality: from AAA (strongest) downwards. More weight in the top buckets = lower risk that an issuer fails to pay, usually with lower yields.

Rating breakdown (% of fund)
AAA
0.12%
AA
5.70%
A
23.91%
BBB
33.35%
BB
20.89%
B
11.18%
CCC
1.15%
CC
0.02%
C
0.03%
D
0.16%
Not rated
2.91%
Cash and derivatives
0.58%

Source: product page iShares, data as of 20 August 2026. Values as declared by the issuer, not computed by us; updated with the monthly document.

Ratings are those the issuer assigns to portfolio holdings under its own methodology (usually the median of S&P, Moody’s and Fitch); scale and buckets are those of the original document.

Portfolio holdings

Securities in portfolio
1,275
1278 total lines: 3 cash & derivatives
Top-10 weight
3.0%

Top 10 holdings

DIGICEL INTERNATIONAL FINANCE LTD RegS · DIGDIF
0.37%
SANDS CHINA LTD · SANLTD
0.34%
YPF SA RegS · YPFDAR
0.32%
ECOPETROL SA · ECOPET
0.32%
INDUSTRIAL AND COMMERCIAL BANK OF RegS · ICBCAS
0.30%
ORLEN SA RegS · PKNPW
0.29%
FREEPORT INDONESIA PT RegS · FRIDPT
0.28%
FIRST QUANTUM MINERALS LTD RegS · FMCN
0.27%
OCP SA RegS · OCPMR
0.26%
ECOPETROL SA · ECOPET
0.26%

Sectors

Industrial
42.3%
Financial Institutions
26.2%
Agency
24.8%
Utility
5.4%
Supranational
1.1%
Local Authority
0.2%
Cash and/or Derivatives
0.1%

Countries

AfghanistanAngola: 0.5%AlbaniaUnited Arab Emirates: 5.2%Argentina: 3%Armenia: 0.1%French Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina Faso: 0.1%BangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 5.2%BruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChile: 3.7%China: 6.4%Ivory CoastCameroon: 0.1%Democratic Republic of the CongoRepublic of the CongoColombia: 4.2%Costa RicaCubaCyprusCzech Republic: 0.3%GermanyDjiboutiDenmarkDominican Republic: 0.2%AlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhana: 0.3%GuineaGambiaGuinea BissauEquatorial GuineaGreeceGreenlandGuatemala: 0.8%French GuianaGuyanaHondurasCroatiaHaitiHungary: 0.3%Indonesia: 2.2%India: 4%IrelandIranIraqIcelandIsrael: 3%ItalyJamaica: 0.4%Jordan: 0.1%JapanKazakhstan: 1.1%KenyaKyrgyzstanCambodiaSouth Korea: 4%KosovoKuwait: 1.8%LaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourg: 0.3%LatviaMorocco: 1.4%MoldovaMadagascar: 0.1%Mexico: 5.4%MacedoniaMaliMyanmarMontenegroMongolia: 0.1%MozambiqueMauritaniaMalawiMalaysia: 0.9%NamibiaNew CaledoniaNigerNigeria: 1.1%NicaraguaNetherlandsNorwayNepalNew ZealandOman: 0.4%Pakistan: 0.2%Panama: 0.8%Peru: 2.1%Philippines: 1%Papua New GuineaPoland: 0.5%Puerto RicoNorth KoreaPortugalParaguayQatar: 3.3%RomaniaRussiaRwandaWestern SaharaSaudi Arabia: 6.4%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogo: 0.1%Thailand: 2.3%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 2.3%United Republic of Tanzania: 0.3%UgandaUkraine: 0.2%UruguayUnited States of America: 1.4%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 3.3%Zambia: 0.9%Zimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
China6.4%
Saudi Arabia6.4%
Hong Kong5.9%
Mexico5.4%
Brazil5.2%
United Arab Emirates5.2%
Colombia4.2%
⬇ Download the full portfolio — Excel, 1,278 rows
Full portfolio declared by iShares, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
1.2206 USD
ex 18 Jun 2026 · paid 30 Jun 2026
Dividends, last 12 months
5.02 USD
Dividend yield
5.61%
12-month sum over the NAV as of 3 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year5.02 USD5.51 %
20255.04 USD5.72 %
20244.81 USD5.51 %
20234.41 USD5.19 %
20223.65 USD3.62 %
20213.68 USD3.50 %

Dividend contribution to total return

-20%-10%0%10%+3.73 %1 year+8.31 %2025+6.50 %2024+7.85 %2023−12.12 %2022−0.31 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20261.261.22
20252.512.54
20242.362.45
20232.122.29
20221.861.80
20211.861.82
20202.191.97
20192.352.36
20182.172.27
20172.272.16
20162.282.27
20152.202.59
20141.982.19
20131.701.96
20120.801.91

Latest dividends

Per shareEx-dividend dateRecord datePayment
1.2206 USD18 Jun 202619 Jun 202630 Jun 2026
1.2605 USD19 Mar 202620 Mar 202631 Mar 2026
2.5359 USD11 Dec 202512 Dec 202524 Dec 2025
2.5067 USD12 Jun 202513 Jun 202525 Jun 2025
2.4533 USD12 Dec 202413 Dec 202427 Dec 2024
2.3577 USD13 Jun 202414 Jun 202426 Jun 2024
2.2919 USD14 Dec 202315 Dec 202329 Dec 2023
2.1206 USD15 Jun 202316 Jun 202328 Jun 2023
Per-share dividends as declared by the issuer, in USD, since the first payment (20 Jun 2012). Past dividends are not indicative of future ones.

Share classes of the same fund

This page covers ISIN IE00B6TLBW47. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
GBP Hedged (Dist)IE000D352U62SNGBDistributingGBP
USD (Dist) · this pageIE00B6TLBW47EMCPDistributingUSD
USD (Acc)IE00BFM6TD65EMCAAccumulatingUSD
EUR Hedged (Acc)IE00BKT1CS59SNAZAccumulatingEUR
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B6TLBW47EMCR(class: USD (Dist))
  • Directazero within the savings plan (buys)
  • Moneyfarmzero within the savings plan (buys), agreement until 31 March 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 March 2027
IE00BFM6TD65QDV8(class: USD (Acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BKT1CS59SNAZ(class: EUR Hedged (Acc))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Borsa Italiana (ETFplus)EMCR20 May 2013
Börse DüsseldorfIS0Q4 Jul 2016
Börse FrankfurtIS0Q4 Jul 2016
Börse HamburgIS0Q1 Aug 2016
Börse HannoverIS0Q9 Dec 2024
Börse München / gettexIS0Q12 May 2014
Börse StuttgartIS0Q4 Jul 2016
Tradegate ExchangeIS0Q4 Jul 2016
Xetra (Deutsche Börse)IS0Q4 Jul 2016
+ 13 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does iShares J.P. Morgan $ EM Corp Bond UCITS ETF track?
The issuer iShares declares the benchmark: J.P. Morgan CEMBI Broad Diversified Core Index.
How much does EMCP cost?
The issuer-declared TER is 0.50% per year; the transaction costs estimated in the KID are 0.06%.
How is EMCP taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of EMCP?
The fund size declared by iShares is about 893 million euro.
When was EMCP launched?
The fund was launched on 17 April 2012: it has 14 years of history.
How does EMCP replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (optimised) (issuer wording: “Fisica - ottimizzazione (dal KID)”).
Does EMCP pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does EMCP trade?
Per the official ESMA register it trades on 9 main exchanges, including Borsa Italiana (ETFplus) (EMCR), Börse Düsseldorf (IS0Q), Börse Frankfurt (IS0Q), Börse Hamburg (IS0Q), Börse Hannover (IS0Q), Börse München / gettex (IS0Q).
What was EMCP's worst fall?
Over the available history (since 2012), the maximum drawdown was -25.17%, reached in October 2022. Past performance is not indicative of future results.
What is EMCP's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.47% per year versus its index (from issuer-declared series).
How many securities does EMCP hold?
The declared portfolio holds 1,275 securities (plus 3 cash & derivative lines); the top 10 positions weigh 3%.
Transparency note
The data in this sheet is declared by iShares in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.