PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
CEMB vs. VCIT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CEMB vs. VCIT

Last updated Jun 4, 2026

CEMB (iShares J.P. Morgan EM Corporate Bond ETF) and VCIT (Vanguard Intermediate-Term Corporate Bond ETF) are both Corporate Bonds funds - CEMB tracks the JP Morgan CEMBI Broad Diversified while VCIT tracks the Barclays U.S. 5-10 Year Corp Index. Both are passively managed. Over the past 10 years, CEMB returned 3.49%/yr vs 2.93%/yr for VCIT. At a 0.43 correlation, their price movements are largely independent. CEMB charges 0.50%/yr vs 0.04%/yr for VCIT.

Performance

CEMB vs. VCIT - 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 Vanguard Intermediate-Term Corporate Bond ETF (VCIT). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, CEMB achieves a 1.49% return, which is significantly higher than VCIT's 0.18% return. Over the past 10 years, CEMB has outperformed VCIT with an annualized return of 3.49%, while VCIT has yielded a comparatively lower 2.93% 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%

VCIT

1D
-0.22%
1M
0.28%
YTD
0.18%
6M
0.07%
1Y
6.13%
3Y*
6.00%
5Y*
1.22%
10Y*
2.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CEMB vs. VCIT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VCIT
Vanguard Intermediate-Term Corporate Bond ETF		0.18%9.34%3.20%8.98%-13.98%-1.77%9.46%14.10%-1.74%5.31%

Correlation

The correlation between CEMB and VCIT is 0.80, 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

0.80

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.58

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2012

0.43

Over the past year, CEMB and VCIT have become more correlated (0.80) than their long-term average of 0.43, meaning their price movements have been converging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares J.P. Morgan EM Corporate Bond ETF

Vanguard Intermediate-Term Corporate Bond ETF

Often compared with CEMB:
CEMB vs. EMBE.LCEMB vs. HYEMCEMB vs. IAGGCEMB vs. AGGG.LCEMB vs. ERNS.LCEMB vs. VEMT.LCEMB vs. VUCP.DE
Often compared with VCIT:
VCIT vs. BNDVCIT vs. LQDVCIT vs. IGIBVCIT vs. VTCVCIT vs. VCLTVCIT vs. SPIBVCIT vs. VTEB

Return for Risk

CEMB vs. VCIT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CEMB
CEMB Risk / Return Rank: 6969
Overall Rank
CEMB Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
CEMB Sortino Ratio Rank: 8080
Sortino Ratio Rank
CEMB Omega Ratio Rank: 7878
Omega Ratio Rank
CEMB Calmar Ratio Rank: 5151
Calmar Ratio Rank
CEMB Martin Ratio Rank: 6262
Martin Ratio Rank
VCIT
VCIT Risk / Return Rank: 4242
Overall Rank
VCIT Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
VCIT Sortino Ratio Rank: 4343
Sortino Ratio Rank
VCIT Omega Ratio Rank: 4040
Omega Ratio Rank
VCIT Calmar Ratio Rank: 4141
Calmar Ratio Rank
VCIT Martin Ratio Rank: 4242
Martin Ratio Rank
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. VCIT - 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 Vanguard Intermediate-Term Corporate Bond ETF (VCIT). 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.

CEMBVCITDifference
Sharpe ratioReturn per unit of total volatility
2.40
1.50

+0.90

Sortino ratioReturn per unit of downside risk
3.61
2.22

+1.39

Omega ratioGain probability vs. loss probability

1.47

1.27

+0.21

Calmar ratioReturn relative to maximum drawdown

2.55

2.08

+0.47

Martin ratioReturn relative to average drawdown

11.06

6.95

+4.11

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. VCIT - Sharpe Ratio Comparison

The current CEMB Sharpe Ratio is 2.40, which is higher than the VCIT Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of CEMB and VCIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

CEMBVCITDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.40

1.50

+0.90

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

0.19

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.47

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.75

-0.26

Drawdowns

CEMB vs. VCIT - Drawdown Comparison

The maximum CEMB drawdown since its inception was -20.84%, roughly equal to the maximum VCIT drawdown of -20.56%. Use the drawdown chart below to compare losses from any high point for CEMB and VCIT.

Loading charts...

Drawdown Indicators

CEMBVCITDifference

Max Drawdown

Largest peak-to-trough decline

-20.84%

-20.56%

-0.28%

Max Drawdown (1Y)

Largest decline over 1 year

-2.88%

-2.96%

+0.08%

Max Drawdown (3Y)

Largest decline over 3 years

-3.85%

-6.11%

+2.26%

Max Drawdown (5Y)

Largest decline over 5 years

-20.48%

-20.56%

+0.08%

Max Drawdown (10Y)

Largest decline over 10 years

-20.84%

-20.56%

-0.28%

Current Drawdown

Current decline from peak

-0.24%

-1.36%

+1.12%

Average Drawdown

Average peak-to-trough decline

-3.66%

-3.16%

-0.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.66%

0.88%

-0.22%

Volatility

CEMB vs. VCIT - Volatility Comparison

The current volatility for iShares J.P. Morgan EM Corporate Bond ETF (CEMB) is 1.08%, while Vanguard Intermediate-Term Corporate Bond ETF (VCIT) has a volatility of 1.38%. This indicates that CEMB experiences smaller price fluctuations and is considered to be less risky than VCIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

CEMBVCITDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.08%

1.38%

-0.30%

Volatility (6M)

Calculated over the trailing 6-month period

2.43%

3.06%

-0.63%

Volatility (1Y)

Calculated over the trailing 1-year period

3.06%

4.10%

-1.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.63%

6.61%

-0.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.30%

6.28%

+0.02%

CEMB vs. VCIT - Expense Ratio Comparison

CEMB has a 0.50% expense ratio, which is higher than VCIT's 0.04% expense ratio.

Dividends

CEMB vs. VCIT - Dividend Comparison

CEMB's dividend yield for the trailing twelve months is around 5.13%, more than VCIT's 4.80% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VCIT
Vanguard Intermediate-Term Corporate Bond ETF		4.80%4.62%4.43%3.72%3.03%2.87%2.78%3.37%3.61%3.21%3.29%3.34%

Frequently Asked Questions

CEMB and VCIT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VCIT has higher volatility (1.38%) compared to CEMB (1.08%). In terms of maximum drawdown, CEMB dropped -20.84% vs VCIT's -20.56%.

On 10-year performance, CEMB leads with 3.49% vs 2.93% for VCIT. On fees, VCIT is cheaper at 0.04% 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.

Over the 10-year period, CEMB has performed better with a 3.49% return vs 2.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VCIT is cheaper with a 0.04% expense ratio, compared with 0.50% for CEMB.

CEMB has the higher dividend yield at 5.13%, compared with 4.80% for VCIT.

CEMB tracks JP Morgan CEMBI Broad Diversified, while VCIT tracks Barclays U.S. 5-10 Year Corp Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for CEMB and 0.04% for VCIT.

CEMB currently has the higher Sharpe Ratio (2.40 vs 1.50), 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.

Portfolio Optimizer

Find the right allocation for CEMB and VCIT

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer