CBON vs. VEMY

Last updated Aug 2, 2026

CBON (VanEck Vectors ChinaAMC China Bond ETF) and VEMY (Virtus Stone Harbor Emerging Markets High Yield Bond ETF) are both Emerging Markets Bonds funds. CBON is passively managed, while VEMY is actively managed. Over the past 3 years, CBON returned 5.03%/yr vs 13.84%/yr for VEMY. Their 0.27 correlation means their historical movements had little consistent relationship. CBON charges 0.50%/yr vs 0.58%/yr for VEMY.

Performance

CBON vs. VEMY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors ChinaAMC China Bond ETF (CBON) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CBON having a 5.60% return and VEMY slightly higher at 5.65%.

CBON

• 1D: -0.01%
• 1M: 0.21%
• 6M: 4.91%
• YTD: 5.60%
• 1Y: 9.19%
• 3Y*: 5.03%
• 5Y*: 2.07%
• 10Y*: 2.94%
• ALL TIME*: 2.46%

VEMY

• 1D: 0.04%
• 1M: -0.85%
• 6M: 3.07%
• YTD: 5.65%
• 1Y: 12.83%
• 3Y*: 13.84%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.01%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CBON VanEck Vectors ChinaAMC China Bond ETF	$134.57K	$162.86K	$181.24K
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	$966.52K	$884.39K	$876.68K

CBON vs. VEMY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CBON VanEck Vectors ChinaAMC China Bond ETF	5.60%	5.46%	1.85%	2.92%	0.81%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	5.65%	15.27%	13.48%	14.45%	-1.43%

Correlation

The correlation between CBON and VEMY is 0.26, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.26
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (All Time) Calculated using the full available price history since Dec 13, 2022	0.27

Return for Risk

CBON vs. VEMY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CBON

CBON Risk / Return Rank: 96
CBON Sharpe Ratio Rank: 95
CBON Sortino Ratio Rank: 95
CBON Omega Ratio Rank: 94
CBON Calmar Ratio Rank: 97
CBON Martin Ratio Rank: 97

VEMY

VEMY Risk / Return Rank: 89
VEMY Sharpe Ratio Rank: 88
VEMY Sortino Ratio Rank: 92
VEMY Omega Ratio Rank: 91
VEMY Calmar Ratio Rank: 85
VEMY Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CBON vs. VEMY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors ChinaAMC China Bond ETF (CBON) and Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CBON	VEMY	Difference
Sharpe ratio: Return per unit of total volatility	2.68	2.15	+0.53
Sortino ratio: Return per unit of downside risk	4.09	3.32	+0.77
Omega ratio: Gain probability vs. loss probability	1.53	1.43	+0.10
Calmar ratio: Return relative to maximum drawdown	7.18	3.23	+3.94
Martin ratio: Return relative to average drawdown	27.79	14.88	+12.91

CBON vs. VEMY - Sharpe Ratio Comparison

The current CBON Sharpe Ratio is 2.68, which is comparable to the VEMY Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of CBON and VEMY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CBON vs. VEMY - Drawdown Comparison

The maximum CBON drawdown since its inception was -14.13%, which is greater than VEMY's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for CBON and VEMY.

Drawdown Indicators

	CBON	VEMY	Difference
Max Drawdown Largest peak-to-trough decline	-14.13%	-8.77%	-5.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.34%	-4.00%	+2.66%
Max Drawdown (3Y) Largest decline over 3 years	-4.56%	-6.57%	+2.01%
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	-0.04%	-1.07%	+1.03%
Average Drawdown Average peak-to-trough decline	-3.94%	-1.27%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	0.87%	-0.52%

Volatility

CBON vs. VEMY - Volatility Comparison

VanEck Vectors ChinaAMC China Bond ETF (CBON) has a higher volatility of 1.22% compared to Virtus Stone Harbor Emerging Markets High Yield Bond ETF (VEMY) at 1.13%. This indicates that CBON's price experiences larger fluctuations and is considered to be riskier than VEMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CBON	VEMY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.22%	1.13%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.76%	4.52%	-1.76%
Volatility (1Y) Calculated over the trailing 1-year period	3.59%	6.02%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.87%	7.52%	-2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.54%	7.52%	-1.98%

CBON vs. VEMY - Expense Ratio Comparison

CBON has a 0.50% expense ratio, which is lower than VEMY's 0.58% expense ratio.

Dividends

CBON vs. VEMY - Dividend Comparison

CBON's dividend yield for the trailing twelve months is around 1.51%, less than VEMY's 8.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CBON VanEck Vectors ChinaAMC China Bond ETF	1.37%	1.66%	2.15%	3.01%	2.70%	3.05%	2.87%	3.87%	3.39%	3.33%	3.25%	2.78%
VEMY Virtus Stone Harbor Emerging Markets High Yield Bond ETF	8.12%	8.89%	10.28%	9.55%	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 VEMY in my portfolio?

CBON and VEMY have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CBON or VEMY?

CBON has higher volatility (1.22%) compared to VEMY (1.13%). In terms of maximum drawdown, CBON dropped -14.13% vs VEMY's -8.77%.

Which ETF is better, CBON or VEMY?

On 3-year performance, VEMY leads with 13.84% vs 5.03% for CBON. On fees, CBON is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CBON or VEMY?

Over the 3-year period, VEMY has performed better with a 13.84% return vs 5.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CBON or VEMY?

CBON is cheaper with a 0.50% expense ratio, compared with 0.58% for VEMY.

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

VEMY has the higher dividend yield at 8.12%, compared with 1.37% for CBON.

What is the main difference between CBON and VEMY?

They also come from different issuers: VanEck and Virtus. Their fees differ too: 0.50% for CBON and 0.58% for VEMY.

Which has better risk-adjusted returns?

CBON currently has the higher Sharpe Ratio (2.68 vs 2.15), 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.