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IShares J.P. Morgan USD Emerging Markets Bond UCITS ETF offers investors exposure to the US-dollar-denominated segment of the emerging-markets sovereign debt market. This exchange-traded fund tracks a geographically diversified global index that is considered in the industry as the undisputed benchmark of reference for this asset class.
The higher yield relative to developed markets remains the key selling point of emerging-markets government debt. Investors are also attracted to emerging-markets debt by virtue of its low historical correlation to developed fixed-income investments. This ETF is likely to work best as a satellite component in most investment portfolios.
Increasingly, investors are being advised not to treat emerging markets as a homogeneous asset class and instead discriminate between countries. On paper, this would seem to support an active approach to the asset class. However, compared with its Morningstar Category, which includes actively managed funds, this ETF's risk-adjusted returns have ranked in the upper areas of the first quartile during the past three and five years.
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