BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) Stock Price, Quote, News & History | Benzinga

The Fund is newly-organized, non-diversified and seeks to track the investment results of the J.P. Morgan EMBI Global Diversified Liquid 1-10 Year Maturity Index (the Index), which contains all bonds with at least $1 billion in face amount outstanding in the J.P. Morgan EMBI Global Diversified Index (the Underlying Index) that have an average life below 10 years at each month-end rebalance. A bonds average life or average maturity is the length of time the principal of the bond is expected to be outstanding. The Underlying Index is a broad, diverse U.S. dollar-denominated emerging markets debt benchmark that tracks the total return of actively-traded external debt instruments in emerging market countries. The index methodology of the Underlying Index is designed to distribute the weight of each country within the Underlying Index by limiting the weights of countries with higher debt outstanding and reallocating this excess to countries with lower debt outstanding. External debt instruments means the U.S. dollar denominated bonds issued by sovereign or quasi-sovereign issuers in the index-eligible countries representing the portion of a countrys debt that is borrowed from foreign lenders, including commercial banks, governments, or international financial institutions. The Index was comprised of 52 countries as of May 31, 2022. As of May 31, 2022, the Indexs five highest weighted countries were Turkey, Saudi Arabia, Oman, China and Mexico.