PACEX vs. VEMBX
PACEX (T. Rowe Price Emerging Markets Corporate Bond Fund) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 5 years, PACEX returned 0.89%/yr vs 3.99%/yr for VEMBX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. PACEX charges 1.16%/yr vs 0.50%/yr for VEMBX.
Performance
PACEX vs. VEMBX - Performance Comparison
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Returns By Period
In the year-to-date period, PACEX achieves a 0.43% return, which is significantly lower than VEMBX's 2.14% return.
PACEX
- 1D
- 0.00%
- 1M
- -0.65%
- 6M
- -0.57%
- YTD
- 0.43%
- 1Y
- 3.78%
- 3Y*
- 6.10%
- 5Y*
- 0.89%
- 10Y*
- 2.96%
- ALL TIME*
- 3.76%
VEMBX
- 1D
- -0.09%
- 1M
- -1.12%
- 6M
- 1.57%
- YTD
- 2.14%
- 1Y
- 8.80%
- 3Y*
- 9.83%
- 5Y*
- 3.99%
- 10Y*
- —
- ALL TIME*
- 6.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PACEX vs. VEMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PACEX T. Rowe Price Emerging Markets Corporate Bond Fund | 0.43% | 8.38% | 6.64% | 6.38% | -13.41% | -2.01% | 6.59% | 12.82% | -1.80% | 8.88% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 2.14% | 14.32% | 7.38% | 13.66% | -13.18% | -1.53% | 14.99% | 17.72% | -0.89% | 13.12% |
Correlation
The correlation between PACEX and VEMBX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.59 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.65 |
The correlation between PACEX and VEMBX shifts across timeframes, from 0.59 (1 year) to 0.71 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
PACEX vs. VEMBX — Risk / Return Rank
PACEX
VEMBX
PACEX vs. VEMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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.
| PACEX | VEMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.42 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 2.43 | -1.20 |
| Martin ratioReturn relative to average drawdown | 4.76 | 10.42 | -5.66 |
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Drawdowns
PACEX vs. VEMBX - Drawdown Comparison
The maximum PACEX drawdown since its inception was -23.40%, roughly equal to the maximum VEMBX drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for PACEX and VEMBX.
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Drawdown Indicators
| PACEX | VEMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -24.36% | +0.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.18% | -3.77% | +0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -3.64% | -5.00% | +1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | -24.36% | +0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -23.40% | — | — |
Current DrawdownCurrent decline from peak | -1.00% | -1.36% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -4.12% | -3.82% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.88% | -0.06% |
Volatility
PACEX vs. VEMBX - Volatility Comparison
The current volatility for T. Rowe Price Emerging Markets Corporate Bond Fund (PACEX) is 0.39%, while Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) has a volatility of 1.00%. This indicates that PACEX experiences smaller price fluctuations and is considered to be less risky than VEMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PACEX | VEMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 1.00% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 2.00% | 3.67% | -1.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.54% | 4.32% | -1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.47% | 6.38% | -2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.05% | 6.33% | -2.28% |
PACEX vs. VEMBX - Expense Ratio Comparison
PACEX has a 1.16% expense ratio, which is higher than VEMBX's 0.50% expense ratio.
Dividends
PACEX vs. VEMBX - Dividend Comparison
PACEX's dividend yield for the trailing twelve months is around 4.64%, less than VEMBX's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PACEX T. Rowe Price Emerging Markets Corporate Bond Fund | 4.64% | 5.50% | 4.76% | 3.86% | 3.06% | 3.36% | 3.85% | 4.26% | 4.46% | 3.94% | 4.27% | 4.92% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 5.50% | 6.20% | 6.86% | 7.06% | 5.43% | 5.00% | 4.50% | 6.27% | 4.81% | 6.50% | 0.00% | 0.00% |
Frequently Asked Questions
PACEX and VEMBX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEMBX has higher volatility (1.00%) compared to PACEX (0.39%). In terms of maximum drawdown, PACEX dropped -23.40% vs VEMBX's -24.36%.
VEMBX currently has the higher Sharpe Ratio (2.12 vs 1.57), 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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