Loading…
Loading…
EMSH (ProShares Short Term USD Emerging Markets Bond ETF) is no longer actively trading.
This usually means the fund has been liquidated, merged into another product, or its ticker has been retired. Every price, valuation, dividend, and analyst figure on this page is frozen at the last available trading session and reads as historical reference — not a current-day signal.
The index is comprised of a diversified portfolio of USD-denominated Emerging Market bonds that have less than or equal to five years remaining to maturity that are issued by Emerging Market sovereign governments, non-sovereign government agencies and entities, and corporations with significant government ownership. The fund will invest in U.S. dollar-denominated debt instruments issued by Sovereign, Sub-Sovereign or Quasi-Sovereign issuers.
Is EMSH's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
The Invesco Emerging Markets Sovereign Debt ETF (NYSEARCA:PCY) has quietly become one of the better-performing fixed income vehicles of the past year, returning 16% over the trailing twelve months as the Federal Reserve cut its policy rate by 75 basis points and risk appetite returned.
Performance of emerging markets local currency bonds has been negatively impacted by the U.S. dollar's strength since mid-year, despite the higher real yields and upside growth surprises in many emerging markets. Currency returns can be volatile, and external factors can have a bigger short-term impact on an emerging markets currency (EMFX) even if relatively attractive fundamentals may provide longer-term support.
We have seen a sharp growth in the issuance of not only green bonds but also sustainability bonds and social bonds, which are closely related. When thinking about issuance outside of the corporate space, sovereigns and state-owned enterprises in Latin America are leading in that respect, with Asia closely following.
Emerging markets offer attractive alternatives to fixed income investors searching for yield amid the trillions of dollars of negative-, zero-, and low-yielding debt globally. Within emerging market hard currency investment grade bonds, we think it is prudent to be shorter duration or at least hedge the Treasury risk component, given the low yield per unit of duration today.
Past experience shows us that emerging markets have historically reacted positively to higher global rates, especially if the latter reflects an improving global growth outlook. Most emerging markets will start normalizing rates well before the U.S. and developed markets.