CEMB vs. IVV

Last updated Jun 4, 2026

CEMB (iShares J.P. Morgan EM Corporate Bond ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - CEMB is a Corporate Bonds fund tracking the JP Morgan CEMBI Broad Diversified, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, CEMB returned 3.49%/yr vs 15.54%/yr for IVV. At a 0.25 correlation, their price movements are largely independent. CEMB charges 0.50%/yr vs 0.03%/yr for IVV.

Performance

CEMB vs. IVV - 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 iShares Core S&P 500 ETF (IVV). 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 IVV's 10.85% return. Over the past 10 years, CEMB has underperformed IVV with an annualized return of 3.49%, while IVV has yielded a comparatively higher 15.54% 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%

IVV

• 1D: -0.76%
• 1M: 4.97%
• YTD: 10.85%
• 6M: 10.87%
• 1Y: 28.00%
• 3Y*: 22.43%
• 5Y*: 13.88%
• 10Y*: 15.54%

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

CEMB vs. IVV - 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%
IVV iShares Core S&P 500 ETF	10.85%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between CEMB and IVV is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 20, 2012	0.25

Over the past year, CEMB and IVV have become more correlated (0.51) than their long-term average of 0.25, meaning their price movements have been converging.

CEMB vs. IVV - Sectors Allocation Comparison

Sectors	CEMB	IVV
Industrials	100.0%	8.3%
Basic Materials	-	1.8%
Communication Services	-	11.2%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Financial Services	-	11.8%
Healthcare	-	8.5%
Real Estate	-	1.9%
Technology	-	35.6%
Utilities	-	2.4%

Return for Risk

CEMB vs. IVV — 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

IVV

IVV Risk / Return Rank: 70
IVV Sharpe Ratio Rank: 71
IVV Sortino Ratio Rank: 70
IVV Omega Ratio Rank: 70
IVV Calmar Ratio Rank: 62
IVV Martin Ratio Rank: 75

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. IVV - 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 iShares Core S&P 500 ETF (IVV). 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	IVV	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.39	+0.02
Sortino ratio: Return per unit of downside risk	3.61	3.25	+0.36
Omega ratio: Gain probability vs. loss probability	1.47	1.43	+0.04
Calmar ratio: Return relative to maximum drawdown	2.55	3.17	-0.61
Martin ratio: Return relative to average drawdown	11.06	14.71	-3.65
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. IVV - Sharpe Ratio Comparison

The current CEMB Sharpe Ratio is 2.40, which is comparable to the IVV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of CEMB and IVV, 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	IVV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.39	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.83	-0.47
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.86	-0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.45	+0.04

Drawdowns

CEMB vs. IVV - Drawdown Comparison

The maximum CEMB drawdown since its inception was -20.84%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for CEMB and IVV.

Drawdown Indicators

	CEMB	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-20.84%	-55.25%	+34.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-8.89%	+6.01%
Max Drawdown (3Y) Largest decline over 3 years	-3.85%	-18.75%	+14.90%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-24.53%	+4.05%
Max Drawdown (10Y) Largest decline over 10 years	-20.84%	-33.90%	+13.06%
Current Drawdown Current decline from peak	-0.24%	-0.76%	+0.52%
Average Drawdown Average peak-to-trough decline	-3.66%	-10.78%	+7.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	1.91%	-1.25%

Volatility

CEMB vs. IVV - Volatility Comparison

The current volatility for iShares J.P. Morgan EM Corporate Bond ETF (CEMB) is 1.08%, while iShares Core S&P 500 ETF (IVV) has a volatility of 2.87%. This indicates that CEMB experiences smaller price fluctuations and is considered to be less risky than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CEMB	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	2.87%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	2.43%	8.90%	-6.47%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	11.80%	-8.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.63%	16.88%	-11.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	18.05%	-11.75%

CEMB vs. IVV - Expense Ratio Comparison

CEMB has a 0.50% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

CEMB vs. IVV - Dividend Comparison

CEMB's dividend yield for the trailing twelve months is around 5.13%, more than IVV's 1.06% 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%
IVV iShares Core S&P 500 ETF	1.06%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Frequently Asked Questions

Can I hold both CEMB and IVV in my portfolio?

CEMB and IVV have a correlation of 0.51, 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 IVV?

IVV has higher volatility (2.87%) compared to CEMB (1.08%). In terms of maximum drawdown, CEMB dropped -20.84% vs IVV's -55.25%.

Which ETF is better, CEMB or IVV?

On 10-year performance, IVV leads with 15.54% vs 3.49% for CEMB. On fees, IVV is cheaper at 0.03% 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 IVV?

Over the 10-year period, IVV has performed better with a 15.54% 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 IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.50% for CEMB.

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

CEMB has the higher dividend yield at 5.13%, compared with 1.06% for IVV.

What is the main difference between CEMB and IVV?

CEMB is categorized as Corporate Bonds, while IVV is S&P 500. CEMB tracks JP Morgan CEMBI Broad Diversified, while IVV tracks S&P 500 Index. Their fees differ too: 0.50% for CEMB and 0.03% for IVV.

Which has better risk-adjusted returns?

CEMB currently has the higher Sharpe Ratio (2.40 vs 2.39), 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.