TEDNX vs. CEMB
TEDNX (TIAA-CREF Emerging Markets Debt Fund) and CEMB (iShares J.P. Morgan EM Corporate Bond ETF) are both funds - TEDNX is a Emerging Markets Bonds fund managed by TIAA, while CEMB is a Corporate Bonds fund tracking the JP Morgan CEMBI Broad Diversified. Over the past 10 years, TEDNX returned 4.51%/yr vs 3.28%/yr for CEMB. Their 0.48 correlation means their historical movements had little consistent relationship. TEDNX charges 0.62%/yr vs 0.50%/yr for CEMB.
Performance
TEDNX vs. CEMB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TEDNX achieves a 0.72% return, which is significantly lower than CEMB's 1.15% return. Over the past 10 years, TEDNX has outperformed CEMB with an annualized return of 4.51%, while CEMB has yielded a comparatively lower 3.28% annualized return.
TEDNX
- 1D
- 0.00%
- 1M
- -0.77%
- 6M
- -0.15%
- YTD
- 0.72%
- 1Y
- 7.00%
- 3Y*
- 9.36%
- 5Y*
- 3.31%
- 10Y*
- 4.51%
- ALL TIME*
- 4.84%
CEMB
- 1D
- -0.08%
- 1M
- -0.54%
- 6M
- 0.51%
- YTD
- 1.15%
- 1Y
- 4.33%
- 3Y*
- 6.79%
- 5Y*
- 1.81%
- 10Y*
- 3.28%
- ALL TIME*
- 3.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.57M | $2.83M | $3.27M | |
| $0.00 | $0.00 | $0.00 |
TEDNX vs. CEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TEDNX TIAA-CREF Emerging Markets Debt Fund | 0.72% | 13.84% | 8.61% | 12.56% | -14.41% | -0.86% | 6.13% | 17.49% | -5.95% | 12.07% |
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 1.15% | 8.86% | 5.81% | 8.37% | -12.58% | -0.59% | 6.77% | 13.90% | -2.57% | 7.11% |
Correlation
The correlation between TEDNX and CEMB is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015 | 0.48 |
The correlation between TEDNX and CEMB shifts across timeframes, from 0.48 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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
TEDNX vs. CEMB — Risk / Return Rank
TEDNX
CEMB
TEDNX vs. CEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Emerging Markets Debt Fund (TEDNX) 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.
| TEDNX | CEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.28 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.62 | -0.26 |
| Martin ratioReturn relative to average drawdown | 5.22 | 6.85 | -1.63 |
Loading charts...
Drawdowns
TEDNX vs. CEMB - Drawdown Comparison
The maximum TEDNX drawdown since its inception was -25.65%, which is greater than CEMB's maximum drawdown of -20.84%. Use the drawdown chart below to compare losses from any high point for TEDNX and CEMB.
Loading charts...
Drawdown Indicators
| TEDNX | CEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.65% | -20.84% | -4.81% |
Max Drawdown (1Y)Largest decline over 1 year | -5.36% | -2.88% | -2.48% |
Max Drawdown (3Y)Largest decline over 3 years | -5.36% | -3.53% | -1.83% |
Max Drawdown (5Y)Largest decline over 5 years | -25.65% | -20.48% | -5.17% |
Max Drawdown (10Y)Largest decline over 10 years | -25.65% | -20.84% | -4.81% |
Current DrawdownCurrent decline from peak | -1.44% | -0.69% | -0.75% |
Average DrawdownAverage peak-to-trough decline | -4.61% | -3.62% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.39% | 0.68% | +0.71% |
Volatility
TEDNX vs. CEMB - Volatility Comparison
TIAA-CREF Emerging Markets Debt Fund (TEDNX) has a higher volatility of 0.84% compared to iShares J.P. Morgan EM Corporate Bond ETF (CEMB) at 0.61%. This indicates that TEDNX's price experiences larger fluctuations and is considered to be riskier than CEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TEDNX | CEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 0.61% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 2.51% | +1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 3.10% | +1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.45% | 5.63% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.04% | 6.27% | -0.23% |
TEDNX vs. CEMB - Expense Ratio Comparison
TEDNX has a 0.62% expense ratio, which is higher than CEMB's 0.50% expense ratio.
Dividends
TEDNX vs. CEMB - Dividend Comparison
TEDNX's dividend yield for the trailing twelve months is around 4.91%, less than CEMB's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 4.80% | 5.14% | 5.11% | 4.77% | 4.29% | 3.51% | 3.86% | 4.19% | 4.66% | 4.06% | 4.26% | 4.76% |
TEDNX TIAA-CREF Emerging Markets Debt Fund | 4.91% | 5.80% | 6.58% | 5.03% | 6.15% | 4.81% | 4.27% | 5.28% | 5.58% | 5.93% | 5.56% | 5.18% |
Frequently Asked Questions
TEDNX and CEMB have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEDNX has higher volatility (0.84%) compared to CEMB (0.61%). In terms of maximum drawdown, TEDNX dropped -25.65% vs CEMB's -20.84%.
TEDNX currently has the higher Sharpe Ratio (1.76 vs 1.50), 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 TEDNX and CEMB
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