VUCP.DE vs. CEMB
VUCP.DE (Vanguard USD Corporate Bond UCITS ETF Distributing) and CEMB (iShares J.P. Morgan EM Corporate Bond ETF) are both Corporate Bonds funds - VUCP.DE tracks the Bloomberg US Corp Bond TR USD while CEMB tracks the JP Morgan CEMBI Broad Diversified. Both are passively managed. Over the past 5 years, VUCP.DE returned 1.65%/yr vs 2.93%/yr for CEMB. A 0.61 correlation means they provide meaningful diversification when combined. VUCP.DE charges 0.09%/yr vs 0.50%/yr for CEMB.
Performance
VUCP.DE vs. CEMB - Performance Comparison
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Different Trading Currencies
VUCP.DE is traded in EUR, while CEMB is traded in USD. To make them comparable, the CEMB values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, VUCP.DE achieves a 1.74% return, which is significantly lower than CEMB's 2.69% return.
VUCP.DE
- 1D
- 0.12%
- 1M
- 1.31%
- YTD
- 1.74%
- 6M
- 1.16%
- 1Y
- 3.90%
- 3Y*
- 2.61%
- 5Y*
- 1.65%
- 10Y*
- —
CEMB
- 1D
- -0.10%
- 1M
- 0.95%
- YTD
- 2.69%
- 6M
- 2.24%
- 1Y
- 5.28%
- 3Y*
- 4.41%
- 5Y*
- 2.93%
- 10Y*
- 3.30%
VUCP.DE vs. CEMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUCP.DE Vanguard USD Corporate Bond UCITS ETF Distributing | 1.74% | -4.23% | 8.63% | 4.43% | -9.56% | 7.07% | -0.54% | 17.45% | 1.89% | -1.63% |
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 2.69% | -4.05% | 12.80% | 5.12% | -7.17% | 6.85% | -2.03% | 16.48% | 2.01% | -2.44% |
Correlation
The correlation between VUCP.DE and CEMB is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.61 |
The correlation between VUCP.DE and CEMB has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
VUCP.DE vs. CEMB — Risk / Return Rank
VUCP.DE
CEMB
VUCP.DE vs. CEMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.DE) 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.
| VUCP.DE | CEMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.17 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.57 | -0.41 |
| Martin ratioReturn relative to average drawdown | 3.03 | 4.76 | -1.73 |
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
| VUCP.DE | CEMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 0.90 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.38 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.46 | -0.14 |
Drawdowns
VUCP.DE vs. CEMB - Drawdown Comparison
The maximum VUCP.DE drawdown since its inception was -14.51%, smaller than the maximum CEMB drawdown of -19.85%. Use the drawdown chart below to compare losses from any high point for VUCP.DE and CEMB.
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Drawdown Indicators
| VUCP.DE | CEMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.51% | -19.85% | +5.34% |
Max Drawdown (1Y)Largest decline over 1 year | -3.33% | -3.36% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -10.94% | -11.80% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -12.70% | -11.80% | -0.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.85% | — |
Current DrawdownCurrent decline from peak | -4.99% | -3.97% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -5.19% | +0.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.12% | +0.17% |
Volatility
VUCP.DE vs. CEMB - Volatility Comparison
The current volatility for Vanguard USD Corporate Bond UCITS ETF Distributing (VUCP.DE) is 0.96%, while iShares J.P. Morgan EM Corporate Bond ETF (CEMB) has a volatility of 1.09%. This indicates that VUCP.DE experiences smaller price fluctuations and is considered to be less risky than CEMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VUCP.DE | CEMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 1.09% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.85% | 4.11% | -0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.79% | 5.86% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.02% | 7.66% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.42% | 8.39% | +0.03% |
VUCP.DE vs. CEMB - Expense Ratio Comparison
VUCP.DE has a 0.09% expense ratio, which is lower than CEMB's 0.50% expense ratio.
Dividends
VUCP.DE vs. CEMB - Dividend Comparison
VUCP.DE's dividend yield for the trailing twelve months is around 5.15%, which matches CEMB's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMB iShares J.P. Morgan EM Corporate Bond ETF | 5.13% | 5.14% | 5.11% | 4.77% | 4.29% | 3.51% | 3.86% | 4.19% | 4.66% | 4.06% | 4.26% | 4.76% |
VUCP.DE Vanguard USD Corporate Bond UCITS ETF Distributing | 5.15% | 5.41% | 4.83% | 4.45% | 3.56% | 2.50% | 3.06% | 3.27% | 3.48% | 3.36% | 0.00% | 0.00% |
Frequently Asked Questions
VUCP.DE and CEMB have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VUCP.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VUCP.DE is cheaper with a 0.09% expense ratio, compared with 0.50% for CEMB.
VUCP.DE tracks Bloomberg US Corp Bond TR USD, while CEMB tracks JP Morgan CEMBI Broad Diversified. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.09% for VUCP.DE and 0.50% for CEMB.
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