BBCB vs. CEMB

Last updated Jun 4, 2026

BBCB (JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF) and CEMB (iShares J.P. Morgan EM Corporate Bond ETF) are both Corporate Bonds funds - BBCB tracks the Bloomberg US Corporate Investment Grade while CEMB tracks the JP Morgan CEMBI Broad Diversified. Both are passively managed. Over the past 5 years, BBCB returned 0.84%/yr vs 1.97%/yr for CEMB. A 0.63 correlation means they provide meaningful diversification when combined. BBCB charges 0.09%/yr vs 0.50%/yr for CEMB.

Performance

BBCB vs. CEMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF (BBCB) and iShares J.P. Morgan EM Corporate Bond ETF (CEMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBCB achieves a 2.82% return, which is significantly higher than CEMB's 1.49% return.

BBCB

• 1D: -0.11%
• 1M: 0.66%
• YTD: 2.82%
• 6M: 2.66%
• 1Y: 8.37%
• 3Y*: 5.98%
• 5Y*: 0.84%
• 10Y*: —

CEMB

• 1D: -0.20%
• 1M: 0.46%
• YTD: 1.49%
• 6M: 1.83%
• 1Y: 7.31%
• 3Y*: 7.31%
• 5Y*: 1.97%
• 10Y*: 3.49%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBCB vs. CEMB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBCB JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF	2.82%	7.69%	1.97%	8.42%	-15.72%	-2.23%	10.39%	14.86%	0.43%
CEMB iShares J.P. Morgan EM Corporate Bond ETF	1.49%	8.86%	5.81%	8.37%	-12.58%	-0.59%	6.77%	13.90%	0.43%

Correlation

The correlation between BBCB and CEMB is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 17, 2018	0.63

The correlation between BBCB and CEMB shifts across timeframes, from 0.63 (all time) to 0.83 (3 years), reflecting how their relationship changes across market environments.

BBCB vs. CEMB - Sectors Allocation Comparison

Sectors	BBCB	CEMB
Financial Services	21.9%	-
Healthcare	8.8%	-
Utilities	8.6%	-
Technology	7.8%	-
Industrials	7.1%	100.0%
Communication Services	6.7%	-
Consumer Cyclical	6.3%	-
Consumer Defensive	5.1%	-
Energy	4.9%	-
Real Estate	3.8%	-
Basic Materials	1.6%	-

Return for Risk

BBCB vs. CEMB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBCB

BBCB Risk / Return Rank: 56
BBCB Sharpe Ratio Rank: 50
BBCB Sortino Ratio Rank: 60
BBCB Omega Ratio Rank: 55
BBCB Calmar Ratio Rank: 58
BBCB Martin Ratio Rank: 58

CEMB

CEMB Risk / Return Rank: 69
CEMB Sharpe Ratio Rank: 73
CEMB Sortino Ratio Rank: 80
CEMB Omega Ratio Rank: 78
CEMB Calmar Ratio Rank: 51
CEMB Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBCB vs. CEMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF (BBCB) and iShares J.P. Morgan EM Corporate Bond ETF (CEMB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BBCB	CEMB	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.40	-0.70
Sortino ratio: Return per unit of downside risk	2.79	3.61	-0.82
Omega ratio: Gain probability vs. loss probability	1.34	1.47	-0.14
Calmar ratio: Return relative to maximum drawdown	2.85	2.55	+0.30
Martin ratio: Return relative to average drawdown	10.09	11.06	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBCB vs. CEMB - Sharpe Ratio Comparison

The current BBCB Sharpe Ratio is 1.71, which is comparable to the CEMB Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of BBCB and CEMB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBCB	CEMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.40	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.35	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.49	-0.04

Drawdowns

BBCB vs. CEMB - Drawdown Comparison

The maximum BBCB drawdown since its inception was -22.48%, which is greater than CEMB's maximum drawdown of -20.84%. Use the drawdown chart below to compare losses from any high point for BBCB and CEMB.

Drawdown Indicators

	BBCB	CEMB	Difference
Max Drawdown Largest peak-to-trough decline	-22.48%	-20.84%	-1.64%
Max Drawdown (1Y) Largest decline over 1 year	-2.95%	-2.88%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-6.46%	-3.85%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-22.32%	-20.48%	-1.84%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.84%	—
Current Drawdown Current decline from peak	-0.34%	-0.24%	-0.10%
Average Drawdown Average peak-to-trough decline	-6.66%	-3.66%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	0.66%	+0.17%

Volatility

BBCB vs. CEMB - Volatility Comparison

JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF (BBCB) has a higher volatility of 1.41% compared to iShares J.P. Morgan EM Corporate Bond ETF (CEMB) at 1.08%. This indicates that BBCB's price experiences larger fluctuations and is considered to be riskier than CEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBCB	CEMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	1.08%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	2.43%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	4.93%	3.06%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.25%	5.63%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.50%	6.30%	+1.20%

BBCB vs. CEMB - Expense Ratio Comparison

BBCB has a 0.09% expense ratio, which is lower than CEMB's 0.50% expense ratio.

Dividends

BBCB vs. CEMB - Dividend Comparison

BBCB's dividend yield for the trailing twelve months is around 7.15%, more than CEMB's 5.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBCB JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF	7.15%	5.02%	5.22%	4.22%	3.39%	3.47%	4.59%	5.25%	0.20%	0.00%	0.00%	0.00%
CEMB iShares J.P. Morgan EM Corporate Bond ETF	5.13%	5.14%	5.11%	4.77%	4.29%	3.51%	3.86%	4.19%	4.66%	4.06%	4.26%	4.76%

Frequently Asked Questions

Can I hold both BBCB and CEMB in my portfolio?

BBCB and CEMB have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBCB or CEMB?

BBCB has higher volatility (1.41%) compared to CEMB (1.08%). In terms of maximum drawdown, BBCB dropped -22.48% vs CEMB's -20.84%.

Which ETF is better, BBCB or CEMB?

On 5-year performance, CEMB leads with 1.97% vs 0.84% for BBCB. On fees, BBCB is cheaper at 0.09% per year. On volatility, CEMB has been the lower-risk option at 1.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBCB or CEMB?

Over the 5-year period, CEMB has performed better with a 1.97% return vs 0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBCB or CEMB?

BBCB is cheaper with a 0.09% expense ratio, compared with 0.50% for CEMB.

Which ETF pays a higher dividend yield, BBCB or CEMB?

BBCB has the higher dividend yield at 7.15%, compared with 5.13% for CEMB.

What is the main difference between BBCB and CEMB?

BBCB tracks Bloomberg US Corporate Investment Grade, while CEMB tracks JP Morgan CEMBI Broad Diversified. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.09% for BBCB and 0.50% for CEMB.

Which has better risk-adjusted returns?

CEMB currently has the higher Sharpe Ratio (2.40 vs 1.71), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.