JEMB vs. VWOB

Last updated Jun 5, 2026

JEMB (Janus Henderson Emerging Markets Debt Hard Currency ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both Emerging Markets Bonds funds. JEMB is actively managed, while VWOB is passively managed. Over the past year, JEMB returned 12.99% vs 10.67% for VWOB. A 0.58 correlation means they provide meaningful diversification when combined. JEMB charges 0.52%/yr vs 0.20%/yr for VWOB.

Performance

JEMB vs. VWOB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) and Vanguard Emerging Markets Government Bond ETF (VWOB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEMB achieves a 2.72% return, which is significantly higher than VWOB's 1.79% return.

JEMB

• 1D: 0.24%
• 1M: 0.57%
• YTD: 2.72%
• 6M: 3.66%
• 1Y: 12.99%
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

JEMB vs. VWOB - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	2.72%	14.63%	1.79%
VWOB Vanguard Emerging Markets Government Bond ETF	1.79%	13.49%	0.19%

Correlation

The correlation between JEMB and VWOB is 0.61, 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	0.61
Correlation (All Time) Calculated using the full available price history since Aug 15, 2024	0.58

The correlation between JEMB and VWOB has been stable across timeframes, ranging from 0.58 to 0.61 - a consistent structural relationship.

Return for Risk

JEMB vs. VWOB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JEMB

JEMB Risk / Return Rank: 54
JEMB Sharpe Ratio Rank: 48
JEMB Sortino Ratio Rank: 49
JEMB Omega Ratio Rank: 53
JEMB Calmar Ratio Rank: 57
JEMB Martin Ratio Rank: 64

VWOB

VWOB Risk / Return Rank: 61
VWOB Sharpe Ratio Rank: 64
VWOB Sortino Ratio Rank: 67
VWOB Omega Ratio Rank: 68
VWOB Calmar Ratio Rank: 49
VWOB Martin Ratio Rank: 58

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.

JEMB vs. VWOB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) 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.

	JEMB	VWOB	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.09	-0.45
Sortino ratio: Return per unit of downside risk	2.36	3.03	-0.67
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.08
Calmar ratio: Return relative to maximum drawdown	2.79	2.39	+0.40
Martin ratio: Return relative to average drawdown	11.47	10.11	+1.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JEMB vs. VWOB - Sharpe Ratio Comparison

The current JEMB Sharpe Ratio is 1.64, which is comparable to the VWOB Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of JEMB and VWOB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JEMB	VWOB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.64	2.09	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.23	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	0.42	+0.83

Drawdowns

JEMB vs. VWOB - Drawdown Comparison

The maximum JEMB drawdown since its inception was -5.37%, smaller than the maximum VWOB drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for JEMB and VWOB.

Drawdown Indicators

	JEMB	VWOB	Difference
Max Drawdown Largest peak-to-trough decline	-5.37%	-26.98%	+21.61%
Max Drawdown (1Y) Largest decline over 1 year	-4.67%	-4.48%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.71%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.98%	—
Current Drawdown Current decline from peak	-0.42%	-0.12%	-0.30%
Average Drawdown Average peak-to-trough decline	-1.01%	-4.78%	+3.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.06%	+0.08%

Volatility

JEMB vs. VWOB - Volatility Comparison

Janus Henderson Emerging Markets Debt Hard Currency ETF (JEMB) has a higher volatility of 2.38% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 1.69%. This indicates that JEMB'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.

Volatility by Period

	JEMB	VWOB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	1.69%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	4.16%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	7.98%	5.15%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.51%	9.18%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.51%	9.34%	-0.83%

JEMB vs. VWOB - Expense Ratio Comparison

JEMB has a 0.52% expense ratio, which is higher than VWOB's 0.20% expense ratio.

Dividends

JEMB vs. VWOB - Dividend Comparison

JEMB's dividend yield for the trailing twelve months is around 6.27%, more than VWOB's 5.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JEMB Janus Henderson Emerging Markets Debt Hard Currency ETF	6.27%	6.19%	2.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both JEMB and VWOB in my portfolio?

JEMB and VWOB have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JEMB or VWOB?

JEMB has higher volatility (2.38%) compared to VWOB (1.69%). In terms of maximum drawdown, JEMB dropped -5.37% vs VWOB's -26.98%.

Which ETF is better, JEMB or VWOB?

On 1-year performance, JEMB leads with 12.99% vs 10.67% 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.

Which ETF has performed better, JEMB or VWOB?

Over the 1-year period, JEMB has performed better with a 12.99% return vs 10.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JEMB or VWOB?

VWOB is cheaper with a 0.20% expense ratio, compared with 0.52% for JEMB.

Which ETF pays a higher dividend yield, JEMB or VWOB?

JEMB has the higher dividend yield at 6.27%, compared with 5.83% for VWOB.

What is the main difference between JEMB and VWOB?

They also come from different issuers: Janus Henderson and Vanguard. Their fees differ too: 0.52% for JEMB and 0.20% for VWOB.

Which has better risk-adjusted returns?

VWOB currently has the higher Sharpe Ratio (2.09 vs 1.64), 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.