CBON vs. NEMD

Last updated Jun 5, 2026

CBON (VanEck Vectors ChinaAMC China Bond ETF) and NEMD (Neuberger Berman Emerging Markets Debt Hard Currency ETF) are both Emerging Markets Bonds funds. CBON is passively managed, while NEMD is actively managed. At a 0.30 correlation, their price movements are largely independent. CBON charges 0.50%/yr vs 0.60%/yr for NEMD.

Performance

CBON vs. NEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors ChinaAMC China Bond ETF (CBON) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CBON achieves a 5.41% return, which is significantly higher than NEMD's 4.12% return.

CBON

• 1D: 0.00%
• 1M: 1.62%
• YTD: 5.41%
• 6M: 7.03%
• 1Y: 8.97%
• 3Y*: 5.00%
• 5Y*: 2.03%
• 10Y*: 2.92%

NEMD

• 1D: 0.35%
• 1M: 1.38%
• YTD: 4.12%
• 6M: 4.49%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CBON vs. NEMD - Yearly Performance Comparison

	2026 (YTD)	2025
CBON VanEck Vectors ChinaAMC China Bond ETF	5.41%	3.28%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	4.12%	7.07%

Correlation

The correlation between CBON and NEMD is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 12, 2025	0.30

CBON vs. NEMD - Sectors Allocation Comparison

Sectors	CBON	NEMD
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	100.0%
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CBON vs. NEMD — Risk / Return Rank

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

CBON

CBON Risk / Return Rank: 89
CBON Sharpe Ratio Rank: 81
CBON Sortino Ratio Rank: 88
CBON Omega Ratio Rank: 87
CBON Calmar Ratio Rank: 93
CBON Martin Ratio Rank: 93

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.

CBON vs. NEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC China Bond ETF (CBON) and Neuberger Berman Emerging Markets Debt Hard Currency ETF (NEMD). 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.

	CBON	NEMD	Difference
Sharpe ratio: Return per unit of total volatility	2.62	—	—
Sortino ratio: Return per unit of downside risk	3.96	—	—
Omega ratio: Gain probability vs. loss probability	1.53	—	—
Calmar ratio: Return relative to maximum drawdown	6.72	—	—
Martin ratio: Return relative to average drawdown	25.03	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CBON	NEMD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	2.20	-1.78

Drawdowns

CBON vs. NEMD - Drawdown Comparison

The maximum CBON drawdown since its inception was -14.13%, which is greater than NEMD's maximum drawdown of -4.43%. Use the drawdown chart below to compare losses from any high point for CBON and NEMD.

Drawdown Indicators

	CBON	NEMD	Difference
Max Drawdown Largest peak-to-trough decline	-14.13%	-4.43%	-9.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.13%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.13%	—	—
Current Drawdown Current decline from peak	-0.02%	-0.04%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.99%	-0.57%	-3.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	—	—

Volatility

Volatility by Period

	CBON	NEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.62%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.45%	6.51%	-3.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	6.51%	-1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.58%	6.51%	-0.93%

CBON vs. NEMD - Expense Ratio Comparison

CBON has a 0.50% expense ratio, which is lower than NEMD's 0.60% expense ratio.

Dividends

CBON vs. NEMD - Dividend Comparison

CBON's dividend yield for the trailing twelve months is around 1.52%, less than NEMD's 4.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBON VanEck Vectors ChinaAMC China Bond ETF	1.52%	1.66%	2.15%	3.01%	2.70%	3.05%	2.87%	3.87%	3.39%	3.33%	3.25%	2.78%
NEMD Neuberger Berman Emerging Markets Debt Hard Currency ETF	4.71%	2.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CBON and NEMD in my portfolio?

CBON and NEMD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CBON or NEMD?

On fees, CBON is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CBON or NEMD?

CBON is cheaper with a 0.50% expense ratio, compared with 0.60% for NEMD.

Which ETF pays a higher dividend yield, CBON or NEMD?

NEMD has the higher dividend yield at 4.71%, compared with 1.52% for CBON.

What is the main difference between CBON and NEMD?

They also come from different issuers: VanEck and Neuberger Berman. Their fees differ too: 0.50% for CBON and 0.60% for NEMD.