CEMB vs SPY
iShares JP Morgan EM Corporate Bond ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CEMB or SPY?
Emerging Markets Bond against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CEMB | SPY |
|---|---|---|
| Expense Ratio | 0.50% | 0.09%Best |
| AUM | $434M | $814.4B |
| Dividend Yield | 5.24% | 1.01% |
| Holdings | 1,172 | 505 |
| YTD Return | -1.64% | +13.78%Best |
| 1Y Return | -0.24% | +21.44%Best |
| 3Y Return (annualized) | +5.96% | +21.38%Best |
| 5Y Return (annualized) | +0.89% | +12.80%Best |
| Volatility (annualized) | 7.5%Best | 14.1% |
| Max Drawdown | -48.2% | -34.1%Best |
| $10,000 over 5 years | $10,453 | $18,262Best |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management |
| Category | Fixed Income | Equity |
| Style | Emerging Markets Bond | Large Cap Blend |
| Inception | Apr 17, 2012 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Apr 19, 2012 to Sep 3, 2026 (14.4 years).
CEMB vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 14.4 years both funds cover.
CEMB vs SPY Performance
iShares JP Morgan EM Corporate Bond ETF (CEMB) is an ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CEMB returned -0.24% while SPY returned +21.44%. Year to date, CEMB is down 1.64% versus a gain of 13.78% for SPY.
Over three years, CEMB compounded at +5.96% per year against +21.38% for SPY; over five years the annualized figures are +0.89% and +12.80% respectively. Across the full 14-year window we track, SPY has the edge at +13.34% annualized vs +3.25%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 14.1% compared with 7.5% for CEMB. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -48.2% for CEMB and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.62. They move together some of the time, and apart the rest.
Fees and Cost Over Time
CEMB charges 0.50% per year while SPY charges 0.09%. On a $10,000 position that is $50 vs $9 annually, a gap of $41 per year that compounds over a long holding period. On income, CEMB currently yields 5.24% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 167 holdings in CEMB and 504 in SPY, totalling 15.5% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 167 positions we hold weights for in CEMB and 504 in SPY, against full books of 1,172 and 505.
You are not choosing between two funds in isolation.
Whichever of CEMB and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CEMB or SPY?
CEMB has an expense ratio of 0.50% while SPY charges 0.09%. SPY is the cheaper option, by $41 a year on a $10,000 investment.
Which performed better, CEMB or SPY?
Over the past year CEMB returned -0.24% vs +21.44% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (14 years), CEMB annualized +3.25% vs +13.34% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CEMB or SPY?
SPY has been the more volatile fund at 14.1% annualized versus 7.5% for CEMB. Worst drawdown: CEMB -48.2% vs SPY -34.1%.
Should I hold both CEMB and SPY?
CEMB and SPY have a monthly-return correlation of 0.62, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, CEMB or SPY?
CEMB yields 5.24% while SPY yields 1.01%, so CEMB currently pays the higher dividend yield.
Is SPY better than CEMB?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.