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Data as of Oct 28, 2026.

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EMB vs GOVT: Differences, Returns & Fees

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On Jul 31, 2026 EMB's duration was 6.5 years and GOVT's 5.5; GOVT charges 0.05% to EMB's 0.39%.

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Net assets: $13.2bn on Oct 28, 2026 for iShares J.P. Morgan USD Emerging Markets Bond ETF, and $42.8bn on Oct 27, 2026 for iShares U.S. Treasury Bond ETF.

EMB on its own →GOVT on its own →
At a glance
−0.4%
EMB total return, 1 year
−1.5%
GOVT total return, 1 year
0.39%
EMB expense ratio
0.05%
GOVT expense ratio

Pair scorecard

GOVT costs 0.34 points a year less; their one-year returns differ by 1.1 points; GOVT is 3.2 times larger.

EMB vs GOVT: Differences, Returns & Fees
MeasureEMBGOVT
Return
Total return, 1 year−0.4%−1.5%
Drawdown
Below its high3.5%, high on Jun 29, 20268.1%, high on Aug 4, 2020
Benchmark
What it tracksJ.P. Morgan EMBI Global Core IndexICE U.S. Treasury Core Bond Index
Cost and size
Expense ratio0.39%0.05%
Net assets, as of Oct 27, 2026$13.2bn$42.8bn
Holdings
Holdings in common0%

Holdings in common uses holdings dated Jul 31, 2026. Method

What they share

0%

By the books each fund has filed, EMB and GOVT hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first EMB GOVT
Only in one fund ↓
Only in EMB
Argentina Republic Government International Bonds, due Jul 9, 2035 1.21%
Ecuador Government International Bonds, due Jul 31, 2035 0.78%
Argentina Republic Government International Bonds, due Jan 9, 2038 0.70%
Argentina Republic Government International Bonds, due Jul 9, 2030 0.65%
Argentina Republic Government International Bonds, due Jul 9, 2041 0.57%
Ghana Government International Bonds, due Jul 3, 2035 0.55%
Uruguay Government International Bonds, due Jun 18, 2050 0.51%
Eagle Funding Luxco Sarl, due Aug 17, 2030 0.50%
Only in GOVT
U.S. Treasury Notes, due Nov 15, 2031 5.28%
U.S. Treasury Notes, due Feb 15, 2029 2.95%
U.S. Treasury Notes, due Feb 15, 2028 2.63%
U.S. Treasury Notes, due Nov 15, 2028 2.08%
U.S. Treasury Notes, due May 15, 2028 1.62%
U.S. Treasury Bonds, due May 15, 2046 1.48%
U.S. Treasury Bonds, due Nov 15, 2042 1.46%
U.S. Treasury Bonds, due Feb 15, 2051 1.46%
Check overlap with more funds →

Side by side

EMB iShares J.P. Morgan USD Emerging Markets Bond ETF GOVT iShares U.S. Treasury Bond ETF
Where it sits Bond ETF Bond ETF
Issuer iShares iShares
What it is Tracks the J.P. Morgan USD Emerging Markets Bond Tracks an index of U.S. Treasury Bond
Total return, 1 year −0.4% −1.5%
Expense ratio 0.39% 0.05%
Holdings 622 229
Net assets, EMB as of Oct 28, 2026 and GOVT as of Oct 27, 2026 $13.2bn $42.8bn

EMB and GOVT on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
EMB

EMB tracks the J.P. Morgan USD Emerging Markets Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.39% a year. It sat 3.5% below its high of Jun 29, 2026 on Oct 28, 2026.

GOVT

GOVT tracks an index of U.S. Treasury Bond. Over the year to Oct 28, 2026 it returned −1.5% with distributions reinvested. The prospectus expense ratio is 0.05% a year. It sat 8.1% below its high of Aug 4, 2020 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, EMB or GOVT?
In the year to Oct 28, 2026, with distributions reinvested, EMB returned −0.4% and GOVT −1.5%.
Which is cheaper, EMB or GOVT?
GOVT is cheaper, by 0.34 percentage points a year. That is about $34 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
EMB vs IEFEMB vs VGITEMB vs VGSHEMB vs LQDGOVT vs SCHRGOVT vs TIPGOVT vs SPTIGOVT vs PFF
Where to next
EMB on its own →GOVT on its own →Hold both: look the portfolio through →Rankings →EMB dividend history →EMB holdings →GOVT dividend history →GOVT holdings →Standards and sources →
Sources and dates
EMB and GOVT filings on SEC EDGAR ↗
EMB and GOVT prospectus with the expense ratio (SEC) ↗
iShares page for EMB ↗
iShares page for GOVT ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, EMB against GOVT, data as of Oct 28, 2026. https://etfiq.com/compare/any/emb-vs-govt

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.