COMB vs. VWOB
COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both exchange-traded funds - COMB is a Commodities fund actively managed by GraniteShares, while VWOB is a Emerging Markets Bonds fund tracking the Barclays USD Emerging Markets Government RIC Capped Index. COMB is actively managed, while VWOB is passively managed. Over the past 5 years, COMB returned 11.02%/yr vs 2.13%/yr for VWOB. At a 0.16 correlation, their price movements are largely independent. COMB charges 0.25%/yr vs 0.20%/yr for VWOB.
Performance
COMB vs. VWOB - Performance Comparison
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Returns By Period
In the year-to-date period, COMB achieves a 25.39% return, which is significantly higher than VWOB's 1.79% return.
COMB
- 1D
- -1.12%
- 1M
- -3.57%
- YTD
- 25.39%
- 6M
- 24.01%
- 1Y
- 37.22%
- 3Y*
- 15.83%
- 5Y*
- 11.02%
- 10Y*
- —
VWOB
- 1D
- 0.24%
- 1M
- 0.94%
- YTD
- 1.79%
- 6M
- 1.96%
- 1Y
- 10.67%
- 3Y*
- 9.30%
- 5Y*
- 2.13%
- 10Y*
- 3.53%
COMB vs. VWOB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 25.39% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -11.41% | 4.98% |
VWOB Vanguard Emerging Markets Government Bond ETF | 1.79% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 2.76% |
Correlation
The correlation between COMB and VWOB is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since May 25, 2017 | 0.16 |
The correlation between COMB and VWOB shifts across timeframes, from -0.28 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COMB vs. VWOB — Risk / Return Rank
COMB
VWOB
COMB vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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.
| COMB | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.86 | 2.39 | +2.47 |
| Martin ratioReturn relative to average drawdown | 12.60 | 10.11 | +2.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COMB | VWOB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.19 | 2.09 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.23 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.38 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.42 | +0.09 |
Drawdowns
COMB vs. VWOB - Drawdown Comparison
The maximum COMB drawdown since its inception was -33.50%, which is greater than VWOB's maximum drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for COMB and VWOB.
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Drawdown Indicators
| COMB | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.50% | -26.98% | -6.52% |
Max Drawdown (1Y)Largest decline over 1 year | -7.69% | -4.48% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -11.35% | -7.71% | -3.64% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -26.98% | +0.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.98% | — |
Current DrawdownCurrent decline from peak | -5.42% | -0.12% | -5.30% |
Average DrawdownAverage peak-to-trough decline | -12.06% | -4.78% | -7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 1.06% | +1.90% |
Volatility
COMB vs. VWOB - Volatility Comparison
GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) has a higher volatility of 5.22% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 1.69%. This indicates that COMB's price experiences larger fluctuations and is considered to be riskier than VWOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COMB | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.22% | 1.69% | +3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 15.04% | 4.16% | +10.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.07% | 5.15% | +11.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 9.18% | +7.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.14% | 9.34% | +5.80% |
COMB vs. VWOB - Expense Ratio Comparison
COMB has a 0.25% expense ratio, which is higher than VWOB's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
COMB vs. VWOB - Dividend Comparison
COMB's dividend yield for the trailing twelve months is around 7.22%, more than VWOB's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.22% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% | 0.00% | 0.00% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.83% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
COMB and VWOB have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMB has higher volatility (5.22%) compared to VWOB (1.69%). In terms of maximum drawdown, COMB dropped -33.50% vs VWOB's -26.98%.
On 5-year performance, COMB leads with 11.02% vs 2.13% for VWOB. On fees, VWOB is cheaper at 0.20% per year. On volatility, VWOB has been the lower-risk option at 1.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COMB has performed better with a 11.02% return vs 2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.20% expense ratio, compared with 0.25% for COMB.
COMB has the higher dividend yield at 7.22%, compared with 5.83% for VWOB.
COMB is categorized as Commodities, while VWOB is Emerging Markets Bonds. They also come from different issuers: GraniteShares and Vanguard. Their fees differ too: 0.25% for COMB and 0.20% for VWOB.
COMB currently has the higher Sharpe Ratio (2.19 vs 2.09), 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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