EMB vs. BNDX
Compare and contrast key facts about iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Vanguard Total International Bond ETF (BNDX).
EMB and BNDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMB is a passively managed fund by iShares that tracks the performance of the JPMorgan EMBI Global Core Index. It was launched on Dec 17, 2007. BNDX is a passively managed fund by Vanguard that tracks the performance of the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). It was launched on May 31, 2013. Both EMB and BNDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
EMB vs. BNDX - Performance Comparison
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Returns By Period
In the year-to-date period, EMB achieves a -1.12% return, which is significantly lower than BNDX's -0.25% return. Over the past 10 years, EMB has outperformed BNDX with an annualized return of 3.25%, while BNDX has yielded a comparatively lower 1.70% annualized return.
EMB
- 1D
- -0.03%
- 1M
- -1.41%
- YTD
- -1.12%
- 6M
- 1.34%
- 1Y
- 11.63%
- 3Y*
- 8.45%
- 5Y*
- 1.90%
- 10Y*
- 3.25%
BNDX
- 1D
- -0.17%
- 1M
- -0.93%
- YTD
- -0.25%
- 6M
- 0.16%
- 1Y
- 1.91%
- 3Y*
- 3.67%
- 5Y*
- 0.12%
- 10Y*
- 1.70%
EMB vs. BNDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | -1.12% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
BNDX Vanguard Total International Bond ETF | -0.25% | 2.86% | 3.57% | 8.77% | -12.76% | -2.29% | 4.65% | 7.87% | 2.81% | 2.40% |
Correlation
The correlation between EMB and BNDX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners. Combining low-correlation assets is one of the most reliable ways to reduce portfolio risk without sacrificing expected returns.
EMB vs. BNDX - Expense Ratio Comparison
EMB has a 0.39% expense ratio, which is higher than BNDX's 0.07% expense ratio.
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Return for Risk
EMB vs. BNDX — Risk / Return Rank
EMB
BNDX
EMB vs. BNDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) and Vanguard Total International Bond ETF (BNDX). 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.
| EMB | BNDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.73 | 0.60 | +1.13 |
Sortino ratioReturn per unit of downside risk | 2.47 | 0.85 | +1.62 |
Omega ratioGain probability vs. loss probability | 1.37 | 1.11 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 2.07 | 0.84 | +1.24 |
Martin ratioReturn relative to average drawdown | 8.62 | 3.28 | +5.34 |
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
| EMB | BNDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.73 | 0.60 | +1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.03 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.42 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.60 | -0.18 |
Drawdowns
EMB vs. BNDX - Drawdown Comparison
The maximum EMB drawdown since its inception was -34.70%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for EMB and BNDX.
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Drawdown Indicators
| EMB | BNDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -16.23% | -18.47% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -2.93% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -28.74% | -15.86% | -12.88% |
Max Drawdown (10Y)Largest decline over 10 years | -28.74% | -16.23% | -12.51% |
Current DrawdownCurrent decline from peak | -3.02% | -2.26% | -0.76% |
Average DrawdownAverage peak-to-trough decline | -5.10% | -3.10% | -2.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 0.75% | +0.33% |
Volatility
EMB vs. BNDX - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) has a higher volatility of 3.10% compared to Vanguard Total International Bond ETF (BNDX) at 1.71%. This indicates that EMB's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMB | BNDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 1.71% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 4.01% | 2.29% | +1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.79% | 3.20% | +3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.74% | 4.81% | +4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.94% | 4.05% | +5.89% |
Dividends
EMB vs. BNDX - Dividend Comparison
EMB's dividend yield for the trailing twelve months is around 5.15%, more than BNDX's 4.47% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.15% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
BNDX Vanguard Total International Bond ETF | 4.47% | 4.39% | 4.18% | 4.42% | 1.51% | 3.74% | 1.11% | 3.40% | 3.01% | 2.23% | 1.89% | 1.63% |