IBDO vs. CEMB
IBDO (iShares iBonds Dec 2023 Term Corporate ETF) and CEMB (iShares J.P. Morgan EM Corporate Bond ETF) are both Corporate Bonds funds from iShares - IBDO tracks the Bloomberg December 2023 Maturity Corporate Index while CEMB tracks the JP Morgan CEMBI Broad Diversified. Both are passively managed. At a 0.20 correlation, their price movements are largely independent. IBDO charges 0.10%/yr vs 0.50%/yr for CEMB.
Performance
IBDO vs. CEMB - Performance Comparison
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Returns By Period
IBDO
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CEMB
- 1D
- -0.24%
- 1M
- 0.37%
- YTD
- 1.38%
- 6M
- 1.67%
- 1Y
- 6.25%
- 3Y*
- 7.04%
- 5Y*
- 1.87%
- 10Y*
- 3.60%
IBDO vs. CEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBDO iShares iBonds Dec 2023 Term Corporate ETF | 0.00% | 0.00% | 0.00% | 4.93% | -0.68% | -0.29% | 5.37% | 8.94% | -0.49% | 4.45% |
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 1.38% | 8.86% | 5.81% | 8.37% | -12.58% | -0.59% | 6.77% | 13.90% | -2.57% | 7.11% |
Correlation
The correlation between IBDO and CEMB is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Mar 12, 2015 | 0.20 |
The correlation between IBDO and CEMB shifts across timeframes, from 0.03 (3 years) to 0.22 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
IBDO vs. CEMB — Risk / Return Rank
IBDO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CEMB
IBDO vs. CEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Dec 2023 Term Corporate ETF (IBDO) and iShares J.P. Morgan EM Corporate Bond ETF (CEMB). 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.
| IBDO | CEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.39 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.18 | — |
| Martin ratioReturn relative to average drawdown | — | 9.37 | — |
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Drawdowns
IBDO vs. CEMB - Drawdown Comparison
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Drawdown Indicators
| IBDO | CEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -20.84% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.88% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.85% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.84% | — |
Current DrawdownCurrent decline from peak | — | -0.46% | — |
Average DrawdownAverage peak-to-trough decline | — | -3.64% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.67% | — |
Volatility
IBDO vs. CEMB - Volatility Comparison
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Volatility by Period
| IBDO | CEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 1.03% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.52% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 3.13% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 5.63% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 6.29% | — |
IBDO vs. CEMB - Expense Ratio Comparison
IBDO has a 0.10% expense ratio, which is lower than CEMB's 0.50% expense ratio.
Dividends
IBDO vs. CEMB - Dividend Comparison
IBDO has not paid dividends to shareholders, while CEMB's dividend yield for the trailing twelve months is around 5.14%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 5.14% | 5.14% | 5.11% | 4.77% | 4.29% | 3.51% | 3.86% | 4.19% | 4.66% | 4.06% | 4.26% | 4.76% |
IBDO iShares iBonds Dec 2023 Term Corporate ETF | 0.00% | 0.00% | 0.00% | 3.61% | 1.85% | 2.04% | 2.47% | 3.01% | 3.10% | 2.96% | 3.01% | 2.39% |
Frequently Asked Questions
IBDO and CEMB have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBDO is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBDO is cheaper with a 0.10% expense ratio, compared with 0.50% for CEMB.
CEMB has the higher dividend yield at 5.14%, compared with 0.00% for IBDO.
IBDO tracks Bloomberg December 2023 Maturity Corporate Index, while CEMB tracks JP Morgan CEMBI Broad Diversified. Their fees differ too: 0.10% for IBDO and 0.50% for CEMB.
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