VPL vs. EMB
VPL (Vanguard FTSE Pacific ETF) and EMB (iShares J.P. Morgan USD Emerging Markets Bond ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index, while EMB is a Emerging Markets Bonds fund tracking the JPMorgan EMBI Global Core Index. Both are passively managed. Over the past 10 years, VPL returned 10.84%/yr vs 3.29%/yr for EMB. At a 0.42 correlation, their price movements are largely independent. VPL charges 0.08%/yr vs 0.39%/yr for EMB.
Performance
VPL vs. EMB - Performance Comparison
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Returns By Period
In the year-to-date period, VPL achieves a 30.29% return, which is significantly higher than EMB's 1.80% return. Over the past 10 years, VPL has outperformed EMB with an annualized return of 10.84%, while EMB has yielded a comparatively lower 3.29% annualized return.
VPL
- 1D
- -0.28%
- 1M
- 10.45%
- YTD
- 30.29%
- 6M
- 33.07%
- 1Y
- 53.61%
- 3Y*
- 23.02%
- 5Y*
- 10.36%
- 10Y*
- 10.84%
EMB
- 1D
- -0.37%
- 1M
- 1.29%
- YTD
- 1.80%
- 6M
- 1.93%
- 1Y
- 11.56%
- 3Y*
- 9.74%
- 5Y*
- 1.86%
- 10Y*
- 3.29%
VPL vs. EMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VPL Vanguard FTSE Pacific ETF | 30.29% | 32.66% | 1.68% | 15.58% | -15.20% | 1.10% | 16.65% | 18.16% | -14.40% | 28.85% |
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 1.80% | 13.85% | 5.54% | 10.62% | -18.63% | -2.23% | 5.42% | 15.48% | -5.47% | 10.28% |
Correlation
The correlation between VPL and EMB is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2007 | 0.42 |
The correlation between VPL and EMB shifts across timeframes, from 0.42 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VPL vs. EMB — Risk / Return Rank
VPL
EMB
VPL vs. EMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) and iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB). 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.
| VPL | EMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.41 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.04 | 2.58 | +1.46 |
| Martin ratioReturn relative to average drawdown | 15.95 | 11.01 | +4.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VPL | EMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.76 | 2.09 | +0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.19 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.63 | 0.33 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.44 | -0.09 |
Drawdowns
VPL vs. EMB - Drawdown Comparison
The maximum VPL drawdown since its inception was -55.49%, which is greater than EMB's maximum drawdown of -34.70%. Use the drawdown chart below to compare losses from any high point for VPL and EMB.
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Drawdown Indicators
| VPL | EMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.49% | -34.70% | -20.79% |
Max Drawdown (1Y)Largest decline over 1 year | -13.33% | -4.51% | -8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -7.95% | -8.40% |
Max Drawdown (5Y)Largest decline over 5 years | -31.09% | -28.74% | -2.35% |
Max Drawdown (10Y)Largest decline over 10 years | -33.90% | -28.74% | -5.16% |
Current DrawdownCurrent decline from peak | -0.28% | -0.37% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -11.63% | -5.06% | -6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.37% | 1.05% | +2.32% |
Volatility
VPL vs. EMB - Volatility Comparison
Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 7.32% compared to iShares J.P. Morgan USD Emerging Markets Bond ETF (EMB) at 1.85%. This indicates that VPL's price experiences larger fluctuations and is considered to be riskier than EMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VPL | EMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 1.85% | +5.47% |
Volatility (6M)Calculated over the trailing 6-month period | 16.71% | 4.52% | +12.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 5.56% | +13.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 9.75% | +7.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.29% | 9.96% | +7.33% |
VPL vs. EMB - Expense Ratio Comparison
VPL has a 0.08% expense ratio, which is lower than EMB's 0.39% expense ratio.
Dividends
VPL vs. EMB - Dividend Comparison
VPL's dividend yield for the trailing twelve months is around 2.73%, less than EMB's 5.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMB iShares J.P. Morgan USD Emerging Markets Bond ETF | 5.06% | 4.98% | 5.46% | 4.74% | 5.04% | 3.89% | 3.88% | 4.51% | 5.64% | 4.54% | 4.83% | 4.84% |
VPL Vanguard FTSE Pacific ETF | 2.73% | 4.01% | 3.15% | 3.12% | 2.75% | 3.19% | 1.81% | 2.84% | 3.06% | 2.57% | 2.65% | 2.43% |
Frequently Asked Questions
VPL and EMB have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VPL has higher volatility (7.32%) compared to EMB (1.85%). In terms of maximum drawdown, VPL dropped -55.49% vs EMB's -34.70%.
On 10-year performance, VPL leads with 10.84% vs 3.29% for EMB. On fees, VPL is cheaper at 0.08% per year. On volatility, EMB has been the lower-risk option at 1.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VPL has performed better with a 10.84% return vs 3.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPL is cheaper with a 0.08% expense ratio, compared with 0.39% for EMB.
EMB has the higher dividend yield at 5.06%, compared with 2.73% for VPL.
VPL is categorized as Asia Pacific Equities, while EMB is Emerging Markets Bonds. VPL tracks FTSE Developed Asia Pacific Index, while EMB tracks JPMorgan EMBI Global Core Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VPL and 0.39% for EMB.
VPL currently has the higher Sharpe Ratio (2.76 vs 2.09), 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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