IGSB vs. EMLC
IGSB (iShares Short-Term Corporate Bond ETF) and EMLC (VanEck Vectors J.P. Morgan EM Local Currency Bond ETF) are both exchange-traded funds - IGSB is a Corporate Bonds fund tracking the ICE BofAML 1-5 Year US Corporate Index, while EMLC is a Emerging Markets Bonds fund tracking the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. Both are passively managed. Over the past 10 years, IGSB returned 2.75%/yr vs 2.28%/yr for EMLC. At a 0.29 correlation, their price movements are largely independent. IGSB charges 0.06%/yr vs 0.30%/yr for EMLC.
Performance
IGSB vs. EMLC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGSB achieves a 0.87% return, which is significantly lower than EMLC's 1.40% return. Over the past 10 years, IGSB has outperformed EMLC with an annualized return of 2.75%, while EMLC has yielded a comparatively lower 2.28% annualized return.
IGSB
- 1D
- -0.02%
- 1M
- 0.31%
- YTD
- 0.87%
- 6M
- 1.27%
- 1Y
- 4.56%
- 3Y*
- 5.82%
- 5Y*
- 2.43%
- 10Y*
- 2.75%
EMLC
- 1D
- 0.28%
- 1M
- 0.58%
- YTD
- 1.40%
- 6M
- 2.50%
- 1Y
- 8.78%
- 3Y*
- 6.63%
- 5Y*
- 1.36%
- 10Y*
- 2.28%
IGSB vs. EMLC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGSB iShares Short-Term Corporate Bond ETF | 0.87% | 6.96% | 4.97% | 6.40% | -5.63% | -0.56% | 5.37% | 7.11% | 1.25% | 1.27% |
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 1.40% | 18.81% | -2.97% | 11.18% | -10.58% | -9.72% | 3.08% | 9.79% | -7.57% | 13.84% |
Correlation
The correlation between IGSB and EMLC is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2010 | 0.29 |
Over the past year, IGSB and EMLC have become more correlated (0.53) than their long-term average of 0.29, 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.
Return for Risk
IGSB vs. EMLC — Risk / Return Rank
IGSB
EMLC
IGSB vs. EMLC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Short-Term Corporate Bond ETF (IGSB) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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.
| IGSB | EMLC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.24 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 1.42 | +1.72 |
| Martin ratioReturn relative to average drawdown | 12.66 | 4.75 | +7.91 |
Loading charts...
Drawdowns
IGSB vs. EMLC - Drawdown Comparison
The maximum IGSB drawdown since its inception was -13.38%, smaller than the maximum EMLC drawdown of -32.43%. Use the drawdown chart below to compare losses from any high point for IGSB and EMLC.
Loading charts...
Drawdown Indicators
| IGSB | EMLC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.38% | -32.43% | +19.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.46% | -6.19% | +4.73% |
Max Drawdown (3Y)Largest decline over 3 years | -1.46% | -9.15% | +7.69% |
Max Drawdown (5Y)Largest decline over 5 years | -9.46% | -24.70% | +15.24% |
Max Drawdown (10Y)Largest decline over 10 years | -13.38% | -26.47% | +13.09% |
Current DrawdownCurrent decline from peak | -0.17% | -3.83% | +3.66% |
Average DrawdownAverage peak-to-trough decline | -0.85% | -14.35% | +13.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.86% | -1.50% |
Volatility
IGSB vs. EMLC - Volatility Comparison
The current volatility for iShares Short-Term Corporate Bond ETF (IGSB) is 0.67%, while VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) has a volatility of 2.44%. This indicates that IGSB experiences smaller price fluctuations and is considered to be less risky than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGSB | EMLC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.67% | 2.44% | -1.77% |
Volatility (6M)Calculated over the trailing 6-month period | 1.46% | 6.17% | -4.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 7.06% | -5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.93% | 9.14% | -6.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.47% | 10.04% | -6.57% |
IGSB vs. EMLC - Expense Ratio Comparison
IGSB has a 0.06% expense ratio, which is lower than EMLC's 0.30% expense ratio.
Dividends
IGSB vs. EMLC - Dividend Comparison
IGSB's dividend yield for the trailing twelve months is around 4.57%, less than EMLC's 6.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF | 6.16% | 5.91% | 6.55% | 5.97% | 5.54% | 5.25% | 4.90% | 6.25% | 6.50% | 5.34% | 5.32% | 6.25% |
IGSB iShares Short-Term Corporate Bond ETF | 4.57% | 4.44% | 4.02% | 3.26% | 2.07% | 1.82% | 2.36% | 3.06% | 2.46% | 1.65% | 1.45% | 1.18% |
Frequently Asked Questions
IGSB and EMLC have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMLC has higher volatility (2.44%) compared to IGSB (0.67%). In terms of maximum drawdown, IGSB dropped -13.38% vs EMLC's -32.43%.
On 10-year performance, IGSB leads with 2.75% vs 2.28% for EMLC. On fees, IGSB is cheaper at 0.06% per year. On volatility, IGSB has been the lower-risk option at 0.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IGSB has performed better with a 2.75% return vs 2.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IGSB is cheaper with a 0.06% expense ratio, compared with 0.30% for EMLC.
EMLC has the higher dividend yield at 6.16%, compared with 4.57% for IGSB.
IGSB is categorized as Corporate Bonds, while EMLC is Emerging Markets Bonds. IGSB tracks ICE BofAML 1-5 Year US Corporate Index, while EMLC tracks J.P. Morgan Government Bond Index Emerging Markets Global Core Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.06% for IGSB and 0.30% for EMLC.
IGSB currently has the higher Sharpe Ratio (2.38 vs 1.25), 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.
Find the right allocation for IGSB and EMLC
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