# iShares J.P. Morgan USD EM Bond UCITS ETF (SEMB) **Page:** https://fundology.uk/fund/semb · ISIN IE00B2NPKV68 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, SEMB (iShares J.P. Morgan USD EM Bond UCITS ETF, ISIN IE00B2NPKV68) closed at £66.53 on the London Stock Exchange. Its ongoing charge is 0.45% a year (about £45 on £10,000). Over the five years to 13/11/2026 its total return was +9.1%, or −14.9% after UK CPIH inflation. ## Summary iShares J.P. Morgan USD EM Bond UCITS ETF is an exchange-traded fund (ETF) from iShares, launched in 2008. It tracks the J.P. Morgan EMBI Global Core Index. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.45% a year — about £45 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year. Latest close: **£66.53** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | SEMB | | ISIN | IE00B2NPKV68 | | Also listed as | IEMB (London Stock Exchange, US dollars), IUS7 (Xetra, euros) | | Category | Corporate & other bonds | | Type | ETF | | Provider | iShares | | Tracks | J.P. Morgan EMBI Global Core Index | | Income | Distributing | | Ongoing charge | 0.45% a year (£45 per £10,000) | | Fund size | £2.9bn | | Launched | 2008 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 10/07/2010 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | -0.34% | -3.87% | income reinvested | | 3 years | +19.71% | +8.15% | income reinvested | | 5 years | +9.09% | -14.85% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of iShares J.P. Morgan USD EM Bond UCITS ETF in pounds (price only, income paid out not included): 2022 −13.3%, 2023 −1.5%, 2024 +2.6%, 2025 −1.9%; 2026 to 13/11/2026 −4.0%. Returns of iShares J.P. Morgan USD EM Bond UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −4.2%; to 30/09/2025: +1.5%; to 30/09/2024: +1.8%; to 30/09/2023: −6.0%; to 30/09/2022: −12.3%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2022 | -13.3% | -20.7% | Price | | 2023 | -1.5% | -5.4% | Price | | 2024 | +2.6% | -0.9% | Price | | 2025 | -1.9% | -5.2% | Price | | 2026 to 13/11/2026 | -4.0% | -7.1% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 5.89% | -7.27% | | 3 years | 6.97% | -9.94% | | 5 years | 8.72% | -21.45% | ## Largest fall Volatility of iShares J.P. Morgan USD EM Bond UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 5.9% over 1 year, 7.0% over 3 years, 8.7% over 5 years. Largest fall in the price of iShares J.P. Morgan USD EM Bond UCITS ETF since November 2021, in pounds: −21.5% from 10/12/2021 to 11/04/2025. The lowest 12-month return of iShares J.P. Morgan USD EM Bond UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −15.0% (12 months to 09/12/2022); the highest was +8.1% (12 months to 26/06/2026). On 13/11/2026 the price of iShares J.P. Morgan USD EM Bond UCITS ETF was 19.2% below its highest weekly close since November 2021 (10/12/2021), in pounds. ## Charges compared with similar funds Ongoing charge of iShares J.P. Morgan USD EM Bond UCITS ETF 0.45% a year. Compared on 14/11/2026, 73 of the 427 other corporate and other bond funds charge more, 10 the same and 344 less (share classes counted once). ## Funds tracking the same index 6 funds track J.P. Morgan EMBI Global Core Index, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.50% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 0.50% | -6.2% | +18.0% | -6.5% | | iShares J.P. Morgan USD EM Bond UCITS ETF (this fund) | 0.45% | -0.3% | +19.7% | +9.1% | | iShares J.P. Morgan USD EM Bond UCITS ETF Acc | 0.45% | +0.5% | +21.0% | +8.7% | | iShares J.P. Morgan USD EM Bond UCITS ETF GBP Hedged Dist | 0.50% | +0.7% | +29.0% | +2.7% | | iShares J.P. Morgan USD EM Bond UCITS ETF MXN Hedged Acc | 0.50% | +1.4% | +30.6% | +53.7% | | VanEck J.P. Morgan EM Local Currency Bond UCITS ETF Accum A USD | 0.30% | +1.4% | +12.8% | +12.7% | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.45%** per year - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds As of 06/11/2026, SEMB holds 613 positions, according to its published holdings. The largest is Argentina Republic of Government 4.13% 09/07/2035 at 1.00% of the fund; the ten largest make up 5.9%. ### Top holdings Largest positions (as of 06/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Argentina Republic of Government 4.13% 09/07/2035 | — | 1.00% | | 2 | ECUADOR REPUBLIC OF (GOVERNMENT) RegS 6.90% 31/07/2035 | — | 0.76% | | 3 | Argentina Republic of Government 0.75% 09/07/2030 | — | 0.61% | | 4 | Argentina Republic of Government 5.00% 09/01/2038 | — | 0.59% | | 5 | GHANA (REPUBLIC OF) DISCO RegS 5.00% 03/07/2035 | — | 0.57% | | 6 | EAGLE FUNDING LUXCO SARL RegS 5.50% 17/08/2030 | — | 0.53% | | 7 | Uruguay (Oriental Republic Of) 5.10% 18/06/2050 | — | 0.53% | | 8 | Argentina Republic of Government 3.50% 09/07/2041 | — | 0.48% | | 9 | OMAN SULTANATE OF (GOVERNMENT) RegS 6.75% 17/01/2048 | — | 0.43% | | 10 | UKRAINE (REPUBLIC OF) C BONDS RegS 4.00% 01/02/2032 | — | 0.42% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By sector As published for the fund, as of 06/11/2026. | Sector | Weight | |---|---| | Sovereign | 87.2% | | Owned No Guarantee | 11.0% | | Government Guaranteed | 1.7% | | Cash and derivatives | 0.1% | ### By country As published for the fund, as of 06/11/2026. | Country | Weight | |---|---| | Saudi Arabia | 6.4% | | Mexico | 6.3% | | Turkey | 4.9% | | Indonesia | 4.3% | | Brazil | 3.9% | | Poland | 3.7% | | Dominican Republic | 3.5% | | Philippines | 3.5% | | Other countries | 63.5% | ### By type of asset Added up from the fund’s published holdings, as of 06/11/2026. | Type of asset | Weight | |---|---| | Bonds | 99.9% | | Cash and money market | 0.1% | All 613 holdings: https://fundology.uk/fund/semb/holdings ## Questions people ask **What is the ongoing charge of SEMB?** The ongoing charge of SEMB is 0.45% a year — about £45 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of iShares J.P. Morgan USD EM Bond UCITS ETF 0.45% a year. Compared on 14/11/2026, 73 of the 427 other corporate and other bond funds charge more, 10 the same and 344 less (share classes counted once). **What does SEMB track?** SEMB tracks the J.P. Morgan EMBI Global Core Index. **Is SEMB accumulating or distributing?** SEMB is distributing: income is paid out to holders as cash, usually a few times a year. It pays out monthly. **What is the ISIN of SEMB?** The ISIN of SEMB is IE00B2NPKV68. An ISIN identifies one exact share class of a fund; SEMB is its ticker on the London Stock Exchange. The same share class is also listed as IEMB (London Stock Exchange, US dollars) and IUS7 (Xetra, euros). **What does SEMB hold?** As of 06/11/2026, SEMB holds 613 positions, according to its published holdings. The largest is Argentina Republic of Government 4.13% 09/07/2035 at 1.00% of the fund; the ten largest make up 5.9%. Its ten largest holdings are Argentina Republic of Government 4.13% 09/07/2035 (1.00%), ECUADOR REPUBLIC OF (GOVERNMENT) RegS 6.90% 31/07/2035 (0.76%), Argentina Republic of Government 0.75% 09/07/2030 (0.61%), Argentina Republic of Government 5.00% 09/01/2038 (0.59%), GHANA (REPUBLIC OF) DISCO RegS 5.00% 03/07/2035 (0.57%), EAGLE FUNDING LUXCO SARL RegS 5.50% 17/08/2030 (0.53%), Uruguay (Oriental Republic Of) 5.10% 18/06/2050 (0.53%), Argentina Republic of Government 3.50% 09/07/2041 (0.48%), OMAN SULTANATE OF (GOVERNMENT) RegS 6.75% 17/01/2048 (0.43%) and UKRAINE (REPUBLIC OF) C BONDS RegS 4.00% 01/02/2032 (0.42%). **What were SEMB’s returns in each of the last five years?** Calendar-year returns of SEMB in pounds (price only, income paid out not included): 2022 −13.3%, 2023 −1.5%, 2024 +2.6%, 2025 −1.9%; 2026 to 13/11/2026 −4.0%. Past performance is not a guide to future returns. **How has SEMB done after inflation?** Over the five years to 13/11/2026 SEMB’s total return was +9.1%, or −14.9% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at iShares](https://www.ishares.com/uk/individual/en/products/251824/ishares-jp-morgan-emerging-markets-bond-ucits-etf) - [Key investor information document (KIID)](https://www.ishares.com/gls-download/literature/kiid/ucits_kiid-ishares-jp-morgan-em-bond-ucits-etf-usd-dist-gb-ie00b2npkv68-en.pdf) - [Factsheet](https://www.ishares.com/gls-download/literature/fact-sheet/semb-ishares-j-p-morgan-em-bond-ucits-etf-fund-fact-sheet-en-gb.pdf) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.