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EMB
iShares JP Morgan USD Emerging Markets Bond ETF · Bond ETF
$96.73
+3.07% this month
VERSUS
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VWOB
Vanguard Emerging Markets Government Bond ETF · Bond ETF
$67.44
+3.06% this month
Scoreboard verdict
Across expense ratio, momentum, yield, fund size, risk
EMB
2
VWOB
3
Comparison scoreboard
VWOB LEADS 3/5Exp. Ratio
EMB 0.39%
VWOB ✓0.15%
1Y Return
EMB ✓+11.83%
VWOB +11.14%
Div. Yield
EMB 5.04%
VWOB ✓5.82%
AUM
EMB ✓$14.16B
VWOB $6.58B
Beta
EMB 0.51
VWOB ✓0.50
Metrics last refreshed: 6/20/2026
Quick take
EMB vs VWOB ETF Comparison: AI Score, Valuation, Performance and Upside
EMB and VWOB are near-identical EM government bond ETFs. Both hold USD-denominated EM sovereign bonds, both have similar yield profiles, and both carry the same EM credit and duration risks. The primary difference is expense ratio: VWOB at 0.20% vs EMB at 0.39%. For long-term investors, VWOB's lower cost advantage compounds meaningfully. EMB offers more liquidity for institutional-scale trades. For individual investors, VWOB is the better choice purely on cost.
EMB vs VWOB — iShares JP Morgan USD EM Bond ETF (the most liquid EM bond ETF with JP Morgan EMBI benchmark tracking for institutional investors) versus Vanguard Emerging Markets Government Bond ETF (the lower-cost alternative at 0.20% expense ratio with slightly broader country diversification for cost-conscious fixed income investors).
Live analysis · updated 6/20/2026
VWOB holds the edge across 3 of 5 key metrics in this comparison. EMB has delivered stronger 1-year price return (+11.83% vs +11.14% for VWOB).
Normalized 1Y performance
EMB
VWOB
Recent returns
EMB
VWOB
Who should consider this stock?
EMB may suit investors who:
- →need institutional-grade liquidity for large EM bond allocations where EMB's superior liquidity and tighter bid-ask spreads reduce trading costs that offset higher expense ratio
- →want JP Morgan EMBI benchmark tracking for performance attribution against the most widely recognized EM fixed income benchmark used by institutional bond managers
- →trade EM bond exposure tactically and need high liquidity for frequent position entry and exit — EMB's deeper market enables lower transaction costs for active fixed income managers
- →prefer iShares/BlackRock ecosystem integration for portfolio construction and risk management tools that track against EMB as the EM bond benchmark
VWOB may suit investors who:
- →prefer Vanguard's cost leadership in fixed income — VWOB's 0.20% expense ratio vs EMB's 0.39% saves $190/year per $100,000 invested, compounding over multi-year EM bond allocations
- →want a buy-and-hold EM government bond allocation in a long-term diversified portfolio where liquidity differences between EMB and VWOB are irrelevant for individual investors
- →value Vanguard's broader 50+ country country count providing marginal additional sovereign diversification vs EMB's more concentrated 30-country universe
- →are comfortable with VWOB's slightly lower AUM and trading volume — negligible for individual investors but relevant context for comparison
Performance & AI score
| Metric | EMB | VWOB |
|---|---|---|
| ETF score | 52.0 | 49.0 |
| Latest close | $96.73 | $67.44 |
| 1M return | +3.07% | +3.06% |
| 6M return | +3.09% | +2.85% |
| 1Y return | +11.83% | +11.14% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | EMB | VWOB |
|---|---|---|
| 1Y ago | $11.78K (+17.8%) started 2025-06-18 | $11.8K (+18.0%) started 2025-06-18 |
| 5Y ago | $14.59K (+45.9%) started 2021-06-18 | $15.31K (+53.1%) started 2021-06-18 |
| 10Y ago | $25.59K (+155.9%) started 2016-06-20 | $27.18K (+171.8%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Fund characteristics
| Metric | EMB | VWOB |
|---|---|---|
| Expense ratio | 0.39% | 0.15% |
| Total assets (AUM) | $14.16B | $6.58B |
| Dividend yield | 5.04% | 5.82% |
| Trailing P/E | N/A | N/A |
| Beta | 0.51 | 0.50 |
| 52-week change | 11.83% | 11.14% |
Risk & fund metrics
| Metric | EMB | VWOB |
|---|---|---|
| 1Y return | +11.83% | +11.14% |
| 6M return | +3.09% | +2.85% |
| 1M return | +3.07% | +3.06% |
| 1Y Sharpe ratio | 1.21 | 1.19 |
| Beta | 0.51 | 0.50 |
| Dividend yield | 5.04% | 5.82% |
| 5Y CAGR | +1.99% | +2.18% |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
EMB max drawdown4.51%
VWOB max drawdown4.48%
EMB max wkly drop1.62%
VWOB max wkly drop1.67%
5Y risk snapshot
EMB max drawdown28.74%
VWOB max drawdown26.97%
EMB max wkly drop6.05%
VWOB max wkly drop6.16%
10Y risk snapshot
EMB max drawdown28.74%
VWOB max drawdown26.97%
EMB max wkly drop16.16%
VWOB max wkly drop16.25%
Performance metrics by period
| Period | Metric | EMB | VWOB |
|---|---|---|---|
| 1Y | Growth | +11.83% | +11.14% |
| CAGR | +11.83% | +11.15% | |
| Sharpe ratio | 1.21 | 1.19 | |
| Max drawdown | 4.51% | 4.48% | |
| Max daily drop | 1.56% | 1.42% | |
| Max wkly drop | 1.62% | 1.67% | |
| 5Y | Growth | +10.34% | +11.40% |
| CAGR | +1.99% | +2.18% | |
| Sharpe ratio | -0.21 | -0.21 | |
| Max drawdown | 28.74% | 26.97% | |
| Max daily drop | 2.65% | 2.83% | |
| Max wkly drop | 6.05% | 6.16% | |
| 10Y | Growth | +38.71% | +41.95% |
| CAGR | +3.33% | +3.57% | |
| Sharpe ratio | -0.07 | -0.06 | |
| Max drawdown | 28.74% | 26.97% | |
| Max daily drop | 9.22% | 8.04% | |
| Max wkly drop | 16.16% | 16.25% |
Fund overview
| Category | EMB | VWOB |
|---|---|---|
| Fund name | iShares J.P. Morgan USD Emerging Markets Bond ETF | Vanguard Emerging Markets Government Bond Index Fund |
| Type | ETF | ETF |
| Expense ratio | 0.39% | 0.15% |
| Total assets (AUM) | $14.16B | $6.58B |
| Dividend yield | 5.04% | 5.82% |
EMB strengths
- →USD denomination eliminates currency volatility: EMB's dollar bonds remove the additional volatility of EM currency fluctuations — investors only take on EM credit and duration risk
- →Highest EM bond ETF liquidity: EMB's $15B+ AUM and institutional recognition make it the most liquid EM bond vehicle — tightest bid-ask spreads for portfolio rebalancing
- →JP Morgan EMBI benchmark: EMB tracks the most widely recognized EM bond benchmark — institutional investors use EMB as their EM fixed income allocation
VWOB strengths
- →0.20% expense ratio vs EMB's 0.39%: VWOB is significantly cheaper than EMB — the 0.19% annual difference on a $100,000 allocation is $190/year, compounding over decades for long-term bond investors
- →Broader country diversification: VWOB's 50+ country exposure vs EMB's ~30 provides marginally wider EM sovereign diversification across smaller frontier economies
- →Vanguard cost leadership: Vanguard's non-profit ownership structure consistently delivers lowest-cost ETFs — VWOB's expense ratio is unlikely to increase
Risks to watch — EMB
- →Higher expense ratio than VWOB: EMB at 0.39% vs VWOB at 0.20% — the expense difference compounds meaningfully over multi-year holding periods
- →EM sovereign default risk: emerging market governments occasionally default or restructure debt (Argentina, Sri Lanka, Zambia examples) — country concentration in troubled economies creates loss risk
- →Duration sensitivity to rate changes: EMB carries significant duration risk — Fed rate increases or spread widening creates mark-to-market losses on the underlying bond portfolio
Risks to watch — VWOB
- →Lower liquidity than EMB: VWOB has smaller AUM and daily trading volume than EMB — slightly wider bid-ask spreads for large institutional rebalancing trades
- →Bloomberg index vs JP Morgan EMBI: VWOB's different underlying index creates slight tracking differences from EMB — performance will diverge modestly based on country inclusion differences
- →Similar underlying risk to EMB: lower cost doesn't reduce EM sovereign default, duration, or credit spread risk — VWOB's lower expense is the primary differentiation, not risk profile improvement
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