VWOB vs. EMBX
VWOB (Vanguard Emerging Markets Government Bond ETF) and EMBX (VanEck Emerging Markets Bond ETF) are both Emerging Markets Bonds funds. VWOB is passively managed, while EMBX is actively managed. Over the past 10 years, VWOB returned 3.53%/yr vs 5.07%/yr for EMBX. A 0.56 correlation means they provide meaningful diversification when combined. VWOB charges 0.20%/yr vs 0.76%/yr for EMBX.
Performance
VWOB vs. EMBX - Performance Comparison
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Returns By Period
In the year-to-date period, VWOB achieves a 1.79% return, which is significantly lower than EMBX's 3.74% return. Over the past 10 years, VWOB has underperformed EMBX with an annualized return of 3.53%, while EMBX has yielded a comparatively higher 5.07% annualized return.
VWOB
- 1D
- 0.24%
- 1M
- 0.94%
- YTD
- 1.79%
- 6M
- 1.96%
- 1Y
- 10.67%
- 3Y*
- 9.30%
- 5Y*
- 2.13%
- 10Y*
- 3.53%
EMBX
- 1D
- 0.24%
- 1M
- 0.81%
- YTD
- 3.74%
- 6M
- 4.04%
- 1Y
- 15.03%
- 3Y*
- 10.18%
- 5Y*
- 3.93%
- 10Y*
- 5.07%
VWOB vs. EMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VWOB Vanguard Emerging Markets Government Bond ETF | 1.79% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 8.41% |
EMBX VanEck Emerging Markets Bond ETF | 3.74% | 18.80% | 3.09% | 9.34% | -7.21% | -4.30% | 11.57% | 13.10% | -6.21% | 11.97% |
Correlation
The correlation between VWOB and EMBX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2013 | 0.56 |
The correlation between VWOB and EMBX shifts across timeframes, from 0.55 (10 years) to 0.74 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
VWOB vs. EMBX — Risk / Return Rank
VWOB
EMBX
VWOB vs. EMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Government Bond ETF (VWOB) and VanEck Emerging Markets Bond ETF (EMBX). 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.
| VWOB | EMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.52 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.94 | -0.54 |
| Martin ratioReturn relative to average drawdown | 10.11 | 12.46 | -2.34 |
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
| VWOB | EMBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.09 | 2.64 | -0.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.65 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | 0.76 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.53 | -0.11 |
Drawdowns
VWOB vs. EMBX - Drawdown Comparison
The maximum VWOB drawdown since its inception was -26.98%, which is greater than EMBX's maximum drawdown of -25.11%. Use the drawdown chart below to compare losses from any high point for VWOB and EMBX.
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Drawdown Indicators
| VWOB | EMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.98% | -25.11% | -1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -5.14% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -7.71% | -7.41% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -26.98% | -24.07% | -2.91% |
Max Drawdown (10Y)Largest decline over 10 years | -26.98% | -25.11% | -1.87% |
Current DrawdownCurrent decline from peak | -0.12% | -0.38% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -4.78% | -7.08% | +2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.06% | 1.21% | -0.15% |
Volatility
VWOB vs. EMBX - Volatility Comparison
Vanguard Emerging Markets Government Bond ETF (VWOB) and VanEck Emerging Markets Bond ETF (EMBX) have volatilities of 1.69% and 1.72%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VWOB | EMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.69% | 1.72% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.16% | 4.77% | -0.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.15% | 5.73% | -0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.18% | 6.10% | +3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.34% | 6.65% | +2.69% |
VWOB vs. EMBX - Expense Ratio Comparison
VWOB has a 0.20% expense ratio, which is lower than EMBX's 0.76% expense ratio.
Dividends
VWOB vs. EMBX - Dividend Comparison
VWOB's dividend yield for the trailing twelve months is around 5.83%, less than EMBX's 5.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBX VanEck Emerging Markets Bond ETF | 5.90% | 6.95% | 8.20% | 5.49% | 8.21% | 5.50% | 6.56% | 7.89% | 7.25% | 7.66% | 3.94% | 6.84% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.83% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
VWOB and EMBX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMBX has higher volatility (1.72%) compared to VWOB (1.69%). In terms of maximum drawdown, VWOB dropped -26.98% vs EMBX's -25.11%.
On 10-year performance, EMBX leads with 5.07% vs 3.53% for VWOB. On fees, VWOB is cheaper at 0.20% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMBX has performed better with a 5.07% return vs 3.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWOB is cheaper with a 0.20% expense ratio, compared with 0.76% for EMBX.
EMBX has the higher dividend yield at 5.90%, compared with 5.83% for VWOB.
They also come from different issuers: Vanguard and VanEck. Their fees differ too: 0.20% for VWOB and 0.76% for EMBX.
EMBX currently has the higher Sharpe Ratio (2.64 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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