iShares J.P. Morgan EM Local Currency Bond ETF

Emerging-market governments mostly borrow in dollars, but LEMB buys their local-currency debt instead. BlackRock's fund tracks a J.P. Morgan GBI-EM index of sovereign bonds issued by developing countries in their own currencies, with caps that stop any one nation from dominating the portfolio. That local-currency structure is the whole point and the whole risk: holders earn the higher yields these governments pay, plus or minus how their currencies move against the dollar, so a strong dollar can erode returns even when the bonds themselves perform. It spreads across hundreds of issues from countries throughout Asia, Latin America, Eastern Europe and beyond. BlackRock launched it in 2011. Investors use it to diversify away from US rates and to take a view on emerging-market currencies and rate cycles, accepting more volatility than a dollar-denominated EM bond fund.

On MyRWA, LEMB trades tokenized across 1 on-chain venue - see the listings below.