PEBIX vs. VEMBX

Last updated Jun 3, 2026

PEBIX (PIMCO Emerging Markets Bond Fund) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 5 years, PEBIX returned 3.09%/yr vs 4.23%/yr for VEMBX. Their correlation of 0.88 suggests significant overlap in exposure. PEBIX charges 0.83%/yr vs 0.55%/yr for VEMBX.

Performance

PEBIX vs. VEMBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Emerging Markets Bond Fund (PEBIX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PEBIX having a 2.55% return and VEMBX slightly higher at 2.59%.

PEBIX

• 1D: 0.00%
• 1M: 0.64%
• YTD: 2.55%
• 6M: 3.23%
• 1Y: 14.58%
• 3Y*: 11.76%
• 5Y*: 3.09%
• 10Y*: 4.63%

VEMBX

• 1D: -0.06%
• 1M: 0.69%
• YTD: 2.59%
• 6M: 3.38%
• 1Y: 13.59%
• 3Y*: 11.61%
• 5Y*: 4.23%
• 10Y*: —

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

PEBIX vs. VEMBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEBIX PIMCO Emerging Markets Bond Fund	2.55%	15.48%	7.83%	11.48%	-17.48%	-2.00%	6.56%	14.91%	-4.17%	10.38%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	2.59%	14.32%	7.38%	13.66%	-13.18%	-1.53%	14.99%	17.72%	-0.89%	13.12%

Correlation

The correlation between PEBIX and VEMBX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.88

The correlation between PEBIX and VEMBX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

PEBIX vs. VEMBX — Risk / Return Rank

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

PEBIX

PEBIX Risk / Return Rank: 88
PEBIX Sharpe Ratio Rank: 92
PEBIX Sortino Ratio Rank: 95
PEBIX Omega Ratio Rank: 90
PEBIX Calmar Ratio Rank: 80
PEBIX Martin Ratio Rank: 84

VEMBX

VEMBX Risk / Return Rank: 87
VEMBX Sharpe Ratio Rank: 92
VEMBX Sortino Ratio Rank: 95
VEMBX Omega Ratio Rank: 89
VEMBX Calmar Ratio Rank: 78
VEMBX Martin Ratio Rank: 83

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.

PEBIX vs. VEMBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Bond Fund (PEBIX) 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.

	PEBIX	VEMBX	Difference
Sharpe ratio Return per unit of total volatility	3.12	3.07	+0.05
Sortino ratio Return per unit of downside risk	5.16	5.01	+0.16
Omega ratio Gain probability vs. loss probability	1.64	1.63	+0.01
Calmar ratio Return relative to maximum drawdown	3.67	3.56	+0.11
Martin ratio Return relative to average drawdown	15.80	15.75	+0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEBIX vs. VEMBX - Sharpe Ratio Comparison

The current PEBIX Sharpe Ratio is 3.12, which is comparable to the VEMBX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of PEBIX and VEMBX, 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

	PEBIX	VEMBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	3.07	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.67	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	1.07	-0.18

Drawdowns

PEBIX vs. VEMBX - Drawdown Comparison

The maximum PEBIX drawdown since its inception was -35.49%, which is greater than VEMBX's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for PEBIX and VEMBX.

Drawdown Indicators

	PEBIX	VEMBX	Difference
Max Drawdown Largest peak-to-trough decline	-35.49%	-24.36%	-11.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.23%	-3.77%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-6.31%	-5.56%	-0.75%
Max Drawdown (5Y) Largest decline over 5 years	-28.10%	-24.36%	-3.74%
Max Drawdown (10Y) Largest decline over 10 years	-28.10%	—	—
Current Drawdown Current decline from peak	0.00%	-0.06%	+0.06%
Average Drawdown Average peak-to-trough decline	-4.69%	-3.87%	-0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.85%	+0.13%

Volatility

PEBIX vs. VEMBX - Volatility Comparison

PIMCO Emerging Markets Bond Fund (PEBIX) has a higher volatility of 1.72% compared to Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) at 1.47%. This indicates that PEBIX's price experiences larger fluctuations and is considered to be riskier than VEMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEBIX	VEMBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.47%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	3.78%	3.57%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	4.68%	4.38%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.36%	6.35%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.38%	6.36%	+0.02%

PEBIX vs. VEMBX - Expense Ratio Comparison

PEBIX has a 0.83% expense ratio, which is higher than VEMBX's 0.55% expense ratio.

Dividends

PEBIX vs. VEMBX - Dividend Comparison

PEBIX's dividend yield for the trailing twelve months is around 6.44%, more than VEMBX's 6.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEBIX PIMCO Emerging Markets Bond Fund	6.44%	6.68%	6.81%	5.36%	6.21%	4.41%	4.23%	4.47%	4.41%	5.10%	5.57%	6.08%
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares	6.01%	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

Can I hold both PEBIX and VEMBX in my portfolio?

PEBIX and VEMBX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEBIX or VEMBX?

PEBIX has higher volatility (1.72%) compared to VEMBX (1.47%). In terms of maximum drawdown, PEBIX dropped -35.49% vs VEMBX's -24.36%.

Which has better risk-adjusted returns?

PEBIX currently has the higher Sharpe Ratio (3.12 vs 3.07), 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.