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FEMB vs. IGIB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEMB vs. IGIB

Last updated Jun 4, 2026

FEMB (First Trust Emerging Markets Local Currency Bond ETF) and IGIB (iShares Intermediate-Term Corporate Bond ETF) are both exchange-traded funds - FEMB is a Emerging Markets Bonds fund actively managed by First Trust, while IGIB is a Corporate Bonds fund tracking the Bloomberg Barclays U.S. Intermediate Credit Index. FEMB is actively managed, while IGIB is passively managed. Over the past 10 years, FEMB returned 2.51%/yr vs 3.04%/yr for IGIB. At a 0.28 correlation, their price movements are largely independent. FEMB charges 0.85%/yr vs 0.06%/yr for IGIB.

Performance

FEMB vs. IGIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Emerging Markets Local Currency Bond ETF (FEMB) and iShares Intermediate-Term Corporate Bond ETF (IGIB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FEMB achieves a 0.60% return, which is significantly higher than IGIB's 0.21% return. Over the past 10 years, FEMB has underperformed IGIB with an annualized return of 2.51%, while IGIB has yielded a comparatively higher 3.04% annualized return.

FEMB

1D
-0.81%
1M
0.57%
YTD
0.60%
6M
0.88%
1Y
10.20%
3Y*
7.79%
5Y*
1.63%
10Y*
2.51%

IGIB

1D
-0.19%
1M
0.31%
YTD
0.21%
6M
0.14%
1Y
6.27%
3Y*
6.21%
5Y*
1.37%
10Y*
3.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEMB vs. IGIB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEMB
First Trust Emerging Markets Local Currency Bond ETF		0.60%21.77%-5.61%17.12%-10.50%-13.40%3.16%11.52%-7.19%11.92%
IGIB
iShares Intermediate-Term Corporate Bond ETF		0.21%9.58%3.49%9.22%-14.00%-1.66%9.64%14.60%-0.71%3.50%

Correlation

The correlation between FEMB and IGIB is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.45

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

0.49

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

0.47

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

0.31

Correlation (All Time)
Calculated using the full available price history since Nov 6, 2014

0.28

The correlation between FEMB and IGIB shifts across timeframes, from 0.28 (all time) to 0.49 (3 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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

First Trust Emerging Markets Local Currency Bond ETF

iShares Intermediate-Term Corporate Bond ETF

Often compared with FEMB:
FEMB vs. PCYFEMB vs. EMBFEMB vs. ELDFEMB vs. VRIGFEMB vs. BWZFEMB vs. EMLCFEMB vs. FALN
Often compared with IGIB:
IGIB vs. VCITIGIB vs. IGSBIGIB vs. LQDIGIB vs. USIGIGIB vs. VGITIGIB vs. AGGIGIB vs. BND

Return for Risk

FEMB vs. IGIB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEMB
FEMB Risk / Return Rank: 3232
Overall Rank
FEMB Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
FEMB Sortino Ratio Rank: 3434
Sortino Ratio Rank
FEMB Omega Ratio Rank: 3333
Omega Ratio Rank
FEMB Calmar Ratio Rank: 2828
Calmar Ratio Rank
FEMB Martin Ratio Rank: 3030
Martin Ratio Rank
IGIB
IGIB Risk / Return Rank: 4242
Overall Rank
IGIB Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
IGIB Sortino Ratio Rank: 4444
Sortino Ratio Rank
IGIB Omega Ratio Rank: 4141
Omega Ratio Rank
IGIB Calmar Ratio Rank: 4242
Calmar Ratio Rank
IGIB Martin Ratio Rank: 4343
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.

FEMB vs. IGIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets Local Currency Bond ETF (FEMB) and iShares Intermediate-Term Corporate Bond ETF (IGIB). 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.

FEMBIGIBDifference
Sharpe ratioReturn per unit of total volatility
1.22
1.52

-0.30

Sortino ratioReturn per unit of downside risk
1.79
2.26

-0.47

Omega ratioGain probability vs. loss probability

1.23

1.27

-0.04

Calmar ratioReturn relative to maximum drawdown

1.35

2.09

-0.74

Martin ratioReturn relative to average drawdown

4.34

7.08

-2.74

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMB vs. IGIB - Sharpe Ratio Comparison

The current FEMB Sharpe Ratio is 1.22, which is comparable to the IGIB Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of FEMB and IGIB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FEMBIGIBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

1.52

-0.30

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.16

0.21

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.23

0.50

-0.27

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.70

-0.61

Drawdowns

FEMB vs. IGIB - Drawdown Comparison

The maximum FEMB drawdown since its inception was -30.44%, which is greater than IGIB's maximum drawdown of -20.62%. Use the drawdown chart below to compare losses from any high point for FEMB and IGIB.

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Drawdown Indicators

FEMBIGIBDifference

Max Drawdown

Largest peak-to-trough decline

-30.44%

-20.62%

-9.82%

Max Drawdown (1Y)

Largest decline over 1 year

-7.58%

-3.01%

-4.57%

Max Drawdown (3Y)

Largest decline over 3 years

-10.13%

-6.05%

-4.08%

Max Drawdown (5Y)

Largest decline over 5 years

-27.85%

-20.62%

-7.23%

Max Drawdown (10Y)

Largest decline over 10 years

-30.44%

-20.62%

-9.82%

Current Drawdown

Current decline from peak

-3.91%

-1.33%

-2.58%

Average Drawdown

Average peak-to-trough decline

-9.93%

-2.58%

-7.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.35%

0.89%

+1.46%

Volatility

FEMB vs. IGIB - Volatility Comparison

First Trust Emerging Markets Local Currency Bond ETF (FEMB) has a higher volatility of 3.05% compared to iShares Intermediate-Term Corporate Bond ETF (IGIB) at 1.33%. This indicates that FEMB's price experiences larger fluctuations and is considered to be riskier than IGIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEMBIGIBDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.05%

1.33%

+1.72%

Volatility (6M)

Calculated over the trailing 6-month period

6.57%

3.08%

+3.49%

Volatility (1Y)

Calculated over the trailing 1-year period

8.36%

4.14%

+4.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.26%

6.56%

+3.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.99%

6.06%

+4.93%

FEMB vs. IGIB - Expense Ratio Comparison

FEMB has a 0.85% expense ratio, which is higher than IGIB's 0.06% expense ratio.

Dividends

FEMB vs. IGIB - Dividend Comparison

FEMB's dividend yield for the trailing twelve months is around 6.06%, more than IGIB's 4.82% yield.

PositionTTM20252024202320222021202020192018201720162015
FEMB
First Trust Emerging Markets Local Currency Bond ETF		6.06%5.67%6.09%5.15%6.35%6.12%5.29%5.40%5.86%6.38%5.83%4.89%
IGIB
iShares Intermediate-Term Corporate Bond ETF		4.82%4.59%4.41%3.78%3.04%2.52%2.74%3.44%3.41%2.51%2.45%2.51%

Frequently Asked Questions

FEMB and IGIB have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FEMB has higher volatility (3.05%) compared to IGIB (1.33%). In terms of maximum drawdown, FEMB dropped -30.44% vs IGIB's -20.62%.

On 10-year performance, IGIB leads with 3.04% vs 2.51% for FEMB. On fees, IGIB is cheaper at 0.06% per year. On volatility, IGIB has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IGIB has performed better with a 3.04% return vs 2.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IGIB is cheaper with a 0.06% expense ratio, compared with 0.85% for FEMB.

FEMB has the higher dividend yield at 6.06%, compared with 4.82% for IGIB.

FEMB is categorized as Emerging Markets Bonds, while IGIB is Corporate Bonds. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.85% for FEMB and 0.06% for IGIB.

IGIB currently has the higher Sharpe Ratio (1.52 vs 1.22), 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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