CEMB vs. SCHJ
CEMB (iShares J.P. Morgan EM Corporate Bond ETF) and SCHJ (Schwab 1-5 Year Corporate Bond ETF) are both exchange-traded funds - CEMB is a Corporate Bonds fund tracking the JP Morgan CEMBI Broad Diversified, while SCHJ is a Short-Term Bond fund tracking the Bloomberg US 1-5 Year Corporate Bond Index. Both are passively managed. Over the past 5 years, CEMB returned 1.78%/yr vs 2.32%/yr for SCHJ. Their 0.63 correlation means they have sometimes moved together and sometimes differently. CEMB charges 0.50%/yr vs 0.03%/yr for SCHJ.
Performance
CEMB vs. SCHJ - Performance Comparison
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Returns By Period
In the year-to-date period, CEMB achieves a 1.32% return, which is significantly higher than SCHJ's 0.85% return.
CEMB
- 1D
- 0.17%
- 1M
- -0.38%
- 6M
- 0.76%
- YTD
- 1.32%
- 1Y
- 4.51%
- 3Y*
- 6.87%
- 5Y*
- 1.78%
- 10Y*
- 3.30%
- ALL TIME*
- 3.62%
SCHJ
- 1D
- 0.10%
- 1M
- -0.18%
- 6M
- 0.56%
- YTD
- 0.85%
- 1Y
- 3.10%
- 3Y*
- 5.41%
- 5Y*
- 2.32%
- 10Y*
- —
- ALL TIME*
- 2.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.45M | $2.88M | $3.29M | |
| $5.83M | $7.78M | $6.51M |
CEMB vs. SCHJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 1.32% | 8.86% | 5.81% | 8.37% | -12.58% | -0.59% | 6.77% | 2.46% |
SCHJ Schwab 1-5 Year Corporate Bond ETF | 0.85% | 6.80% | 4.89% | 6.36% | -5.73% | -0.67% | 5.30% | 0.61% |
Correlation
The correlation between CEMB and SCHJ is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2019 | 0.63 |
The correlation between CEMB and SCHJ shifts across timeframes, from 0.63 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
CEMB vs. SCHJ — Risk / Return Rank
CEMB
SCHJ
CEMB vs. SCHJ - 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 Schwab 1-5 Year Corporate Bond ETF (SCHJ). 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.
| CEMB | SCHJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.57 | 2.11 | -0.54 |
| Martin ratioReturn relative to average drawdown | 6.65 | 7.94 | -1.30 |
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Drawdowns
CEMB vs. SCHJ - Drawdown Comparison
The maximum CEMB drawdown since its inception was -20.84%, which is greater than SCHJ's maximum drawdown of -13.62%. Use the drawdown chart below to compare losses from any high point for CEMB and SCHJ.
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Drawdown Indicators
| CEMB | SCHJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.84% | -13.62% | -7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -2.88% | -1.47% | -1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -3.53% | -1.47% | -2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -20.48% | -9.35% | -11.13% |
Max Drawdown (10Y)Largest decline over 10 years | -20.84% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.22% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -3.62% | -1.84% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 0.39% | +0.29% |
Volatility
CEMB vs. SCHJ - Volatility Comparison
iShares J.P. Morgan EM Corporate Bond ETF (CEMB) has a higher volatility of 0.63% compared to Schwab 1-5 Year Corporate Bond ETF (SCHJ) at 0.51%. This indicates that CEMB's price experiences larger fluctuations and is considered to be riskier than SCHJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEMB | SCHJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.51% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 1.53% | +0.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.10% | 1.86% | +1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.63% | 2.96% | +2.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.28% | 4.10% | +2.18% |
CEMB vs. SCHJ - Expense Ratio Comparison
CEMB has a 0.50% expense ratio, which is higher than SCHJ's 0.03% expense ratio.
Dividends
CEMB vs. SCHJ - Dividend Comparison
CEMB's dividend yield for the trailing twelve months is around 5.23%, more than SCHJ's 4.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 5.23% | 5.14% | 5.11% | 4.77% | 4.29% | 3.51% | 3.86% | 4.19% | 4.66% | 4.06% | 4.26% | 4.76% |
SCHJ Schwab 1-5 Year Corporate Bond ETF | 4.53% | 4.42% | 4.00% | 2.98% | 1.64% | 0.94% | 2.54% | 0.42% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CEMB and SCHJ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CEMB has higher volatility (0.63%) compared to SCHJ (0.51%). In terms of maximum drawdown, CEMB dropped -20.84% vs SCHJ's -13.62%.
On 5-year performance, SCHJ leads with 2.32% vs 1.78% for CEMB. On fees, SCHJ is cheaper at 0.03% per year. On volatility, SCHJ has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SCHJ has performed better with a 2.32% return vs 1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SCHJ is cheaper with a 0.03% expense ratio, compared with 0.50% for CEMB.
CEMB has the higher dividend yield at 5.23%, compared with 4.53% for SCHJ.
CEMB is categorized as Corporate Bonds, while SCHJ is Short-Term Bond. CEMB tracks JP Morgan CEMBI Broad Diversified, while SCHJ tracks Bloomberg US 1-5 Year Corporate Bond Index. They also come from different issuers: iShares and Charles Schwab. Their fees differ too: 0.50% for CEMB and 0.03% for SCHJ.
SCHJ currently has the higher Sharpe Ratio (1.68 vs 1.46), 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.
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