CEMB vs. EMCB

Last updated Jun 4, 2026

CEMB (iShares J.P. Morgan EM Corporate Bond ETF) and EMCB (WisdomTree Emerging Markets Corporate Bond Fund) are both exchange-traded funds - CEMB is a Corporate Bonds fund tracking the JP Morgan CEMBI Broad Diversified, while EMCB is a Emerging Markets Bonds fund actively managed by WisdomTree. CEMB is passively managed, while EMCB is actively managed. Over the past 10 years, CEMB returned 3.49%/yr vs 4.20%/yr for EMCB. At a 0.29 correlation, their price movements are largely independent. CEMB charges 0.50%/yr vs 0.60%/yr for EMCB.

Performance

CEMB vs. EMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan EM Corporate Bond ETF (CEMB) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CEMB achieves a 1.49% return, which is significantly lower than EMCB's 2.03% return. Over the past 10 years, CEMB has underperformed EMCB with an annualized return of 3.49%, while EMCB has yielded a comparatively higher 4.20% annualized return.

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%

EMCB

• 1D: 0.09%
• 1M: 0.53%
• YTD: 2.03%
• 6M: 2.01%
• 1Y: 7.19%
• 3Y*: 7.97%
• 5Y*: 2.17%
• 10Y*: 4.20%

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

CEMB vs. EMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	-2.57%	7.11%
EMCB WisdomTree Emerging Markets Corporate Bond Fund	2.03%	8.19%	7.11%	8.76%	-12.98%	-0.62%	8.60%	13.43%	-3.07%	9.47%

Correlation

The correlation between CEMB and EMCB is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 20, 2012	0.29

The correlation between CEMB and EMCB shifts across timeframes, from 0.29 (all time) to 0.51 (5 years), reflecting how their relationship changes across market environments.

CEMB vs. EMCB - Sectors Allocation Comparison

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

Return for Risk

CEMB vs. EMCB — Risk / Return Rank

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

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

EMCB

EMCB Risk / Return Rank: 51
EMCB Sharpe Ratio Rank: 50
EMCB Sortino Ratio Rank: 51
EMCB Omega Ratio Rank: 57
EMCB Calmar Ratio Rank: 48
EMCB Martin Ratio Rank: 49

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.

CEMB vs. EMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM Corporate Bond ETF (CEMB) and WisdomTree Emerging Markets Corporate Bond Fund (EMCB). 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.

	CEMB	EMCB	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.75	+0.65
Sortino ratio: Return per unit of downside risk	3.61	2.51	+1.10
Omega ratio: Gain probability vs. loss probability	1.47	1.35	+0.12
Calmar ratio: Return relative to maximum drawdown	2.55	2.36	+0.20
Martin ratio: Return relative to average drawdown	11.06	8.34	+2.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CEMB vs. EMCB - Sharpe Ratio Comparison

The current CEMB Sharpe Ratio is 2.40, which is higher than the EMCB Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of CEMB and EMCB, 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

	CEMB	EMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	1.75	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.31	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.50	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.46	+0.03

Drawdowns

CEMB vs. EMCB - Drawdown Comparison

The maximum CEMB drawdown since its inception was -20.84%, smaller than the maximum EMCB drawdown of -22.81%. Use the drawdown chart below to compare losses from any high point for CEMB and EMCB.

Drawdown Indicators

	CEMB	EMCB	Difference
Max Drawdown Largest peak-to-trough decline	-20.84%	-22.81%	+1.97%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-3.07%	+0.19%
Max Drawdown (3Y) Largest decline over 3 years	-3.85%	-4.20%	+0.35%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-21.50%	+1.02%
Max Drawdown (10Y) Largest decline over 10 years	-20.84%	-22.81%	+1.97%
Current Drawdown Current decline from peak	-0.24%	-0.64%	+0.40%
Average Drawdown Average peak-to-trough decline	-3.66%	-4.23%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.86%	-0.20%

Volatility

CEMB vs. EMCB - Volatility Comparison

The current volatility for iShares J.P. Morgan EM Corporate Bond ETF (CEMB) is 1.08%, while WisdomTree Emerging Markets Corporate Bond Fund (EMCB) has a volatility of 1.55%. This indicates that CEMB experiences smaller price fluctuations and is considered to be less risky than EMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEMB	EMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	1.55%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	2.43%	2.89%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	4.16%	-1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.63%	6.94%	-1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	8.48%	-2.18%

CEMB vs. EMCB - Expense Ratio Comparison

CEMB has a 0.50% expense ratio, which is lower than EMCB's 0.60% expense ratio.

Dividends

CEMB vs. EMCB - Dividend Comparison

CEMB's dividend yield for the trailing twelve months is around 5.13%, less than EMCB's 5.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
EMCB WisdomTree Emerging Markets Corporate Bond Fund	5.35%	5.47%	5.29%	5.09%	4.04%	3.43%	3.85%	4.17%	4.20%	4.04%	4.08%	5.09%

Frequently Asked Questions

Can I hold both CEMB and EMCB in my portfolio?

CEMB and EMCB have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CEMB or EMCB?

EMCB has higher volatility (1.55%) compared to CEMB (1.08%). In terms of maximum drawdown, CEMB dropped -20.84% vs EMCB's -22.81%.

Which ETF is better, CEMB or EMCB?

On 10-year performance, EMCB leads with 4.20% vs 3.49% for CEMB. On fees, CEMB is cheaper at 0.50% 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, CEMB or EMCB?

Over the 10-year period, EMCB has performed better with a 4.20% return vs 3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CEMB or EMCB?

CEMB is cheaper with a 0.50% expense ratio, compared with 0.60% for EMCB.

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

EMCB has the higher dividend yield at 5.35%, compared with 5.13% for CEMB.

What is the main difference between CEMB and EMCB?

CEMB is categorized as Corporate Bonds, while EMCB is Emerging Markets Bonds. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.50% for CEMB and 0.60% for EMCB.

Which has better risk-adjusted returns?

CEMB currently has the higher Sharpe Ratio (2.40 vs 1.75), 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.