FMD Capital Management

Posts Tagged: emb

Emerging Market Bonds: Time For Local Currency To Shine?

Written by David Fabian, February 02nd, 2017

Emerging market bonds were one of the few bright spots across the fixed-income landscape in 2016.  This category trailed only U.S. high yield debt by total return metrics despite some meaningful volatility in the aftermath of the U.S. election.  Investors also took notice of this outperformance and the favorable yields to bootRead more

VIDEO: August 2016 Structural Opportunities

Written by David Fabian, August 11th, 2016

The structural bull market is still intact for large-cap U.S. stocks as several benchmarks hit new all-time highs.  In this video, I look at areas of the market that are showing a high degree of momentum and also sluggish price action.  Observations of risk and reward are noted throughout.  Charts include: large cap stocks, international stocks, defensive indexes, emerging market bonds, interest rates, and more.  Recorded on August 11, 2016.

A log of our previous videos are posted here.

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Value Is Scarce Among Income-Generating ETFs

Written by David Fabian, August 03rd, 2016

The definition of value is a fierce debate among investors that seek to find intrinsically underpriced assets.  Some stand their ground on historical fundamentals like price/earnings or price/book ratios.  Others look strictly at price relative to other potential opportunities as a measure of opportunity.

The picture becomes even more complicated when you try to compare or overlay differing asset classes.  Income investors often blur the lines between bonds, dividend paying stocks, and alternative income assets.  Read more

ETF Investors Are Flocking To Emerging Market Bonds

Written by David Fabian, July 26th, 2016

Negative interest rates in several major developed foreign nations may be the biggest theme driving the search for yield in 2016.  Many investors have navigated their way to U.S. Treasury, investment grade corporate, and municipal bonds for safety.  However, if you want an above average yield and are willing to take on more credit risk, emerging market bonds have become a preferred landing spot.

According to fund flow data from, the top three emerging market bond ETFs for net inflows year-to-date include:

  • iShares JP Morgan USD Emerging Markets Bond ETF (EMB) + $3 billion
  • VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) + $566 million
  • Powershares Emerging Markets Sovereign Debt Portfolio (PCY) + $493 million
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