iShares J.P. Morgan EM Corporate Bond ETF (CEMB) Performance
CEMB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.3% since Dec 31, 2025
- 1 year
- +0.6% total return
- 5 years
- +1.7% a year
- 10 years
- +3.0% a year
- Since first price
- +3.5% a year since 2012
CEMB trailing returns vs AGG, TLT, SPY
| Period | CEMB total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −0.5% | −1.0% | +0.9% | +1.5% | −1.0% |
| 3 months | −1.5% | −2.8% | −0.4% | −1.0% | +3.2% |
| 6 months | −1.5% | −4.1% | −1.5% | −3.8% | +7.8% |
| YTD | −0.3% | −4.1% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.6% | −4.5% | −1.1% | −6.9% | +14.4% |
| 3 years | +23.8%+7.4%/yr | +6.0% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +9.0%+1.7%/yr | −14.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +34.6%+3.0%/yr | −13.8% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionApr 19, 2012 | +63.7%+3.5%/yr | −12.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CEMB vs AGG
From Apr 19, 2012: CEMB grew to $16,372, AGG to $12,896.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CEMB returns by calendar year
8 of 13 full years positive. Best 2019 (+13.9%), worst 2022 (−12.6%). 2026 is year to date.
CEMB annual returns table
| Year | CEMB | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −0.3% | −2.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +8.9% | −3.1% | +7.2% | +4.3% | +17.7% |
| 2024 | +5.8% | −2.1% | +1.3% | −8.1% | +24.9% |
| 2023 | +8.4% | −4.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −12.6% | −18.7% | −13.0% | −31.2% | −18.2% |
| 2021 | −0.6% | −2.8% | −1.8% | −4.6% | +28.7% |
| 2020 | +6.8% | −20.8% | +7.5% | +18.2% | +18.3% |
| 2019 | +13.9% | −0.8% | +8.5% | +14.1% | +31.2% |
| 2018 | −2.6% | −5.6% | +0.1% | −1.6% | −4.6% |
| 2017 | +7.1% | −1.8% | +3.6% | +9.2% | +21.7% |
| 2016 | +12.3% | −4.0% | +2.4% | +1.2% | +12.0% |
| 2015 | −1.8% | −8.5% | +0.5% | −1.8% | +1.2% |
| 2014 | +4.1% | −7.7% | +6.0% | +27.3% | +13.5% |
| 2013 | −4.9% | −11.9% | −2.0% | −13.4% | +32.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CEMB largest drawdowns
Now 2.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 21, 2020 | −20.8% | Mar 19, 2020 | Aug 4, 2020 | 27 days | 5 months |
| Sep 13, 2021 | −20.5% | Oct 31, 2022 | Sep 24, 2024 | 1.1 years | 3.0 years |
| May 2, 2013 | −11.9% | Sep 6, 2013 | Jun 4, 2014 | 4 months | 1.1 years |
| May 11, 2015 | −9.6% | Jan 20, 2016 | Apr 4, 2016 | 8 months | 11 months |
| Aug 29, 2014 | −7.7% | Dec 16, 2014 | Apr 24, 2015 | 4 months | 8 months |
| Jan 11, 2018 | −5.6% | Aug 13, 2018 | Feb 4, 2019 | 7 months | 1.1 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
CEMB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +6.7% | +1.5% | +3.0% | +3.4% |
| Volatility (annualized) | 4.9% | 7.1% | 7.6% | 7.5% |
| Sharpe ratio | 0.47 | -0.27 | 0.13 | 0.28 |
| Sortino ratio | 0.73 | -0.36 | 0.17 | 0.39 |
| Best month | +4.0% | +7.2% | +7.3% | +7.3% |
| Worst month | −2.5% | −5.7% | −13.3% | −13.3% |
| Best 12 months | +14.5% | +14.5% | +20.3% | +20.3% |
| Worst 12 months | +0.2% | −19.1% | −19.1% | −19.1% |
| Positive months | 72% | 60% | 63% | 62% |
| Beta vs S&P 500 | 0.26 | 0.29 | 0.32 | — |
| Correlation with S&P 500 | 0.68 | 0.64 | 0.66 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CEMB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 163 | −19.1% | +4.9% | +20.3% | 72% |
| 3-year (a year) | 139 | −4.4% | +4.3% | +10.2% | 78% |
| 5-year (a year) | 115 | −0.9% | +2.9% | +7.3% | 98% |
| 10-year (a year) | 55 | +1.2% | +3.1% | +4.6% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
CEMB performance overview
iShares J.P. Morgan EM Corporate Bond ETF (CEMB) returned +0.6% over the past year and +3.0% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +3.5% a year, turning $10,000 into about $16,372. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −20.8%, from Feb 21, 2020 to Mar 19, 2020, and it took 5 months to get back to the old high. CEMB finished 8 of its 13 full calendar years with a gain; the best year was 2019 (+13.9%) and the worst 2022 (−12.6%). Volatility has been 7.5% a year.
Related: CEMB chart, CEMB dividends, CEMB bond profile. See the CEMB overview for the latest quote and fund facts.
CEMB performance FAQ
What is the CEMB return over the past year?
CEMB returned +0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 4.5%.
What is the average annual return of CEMB?
CEMB has returned +1.7% a year over 5 years, +3.0% a year over 10 years, +3.5% a year since April 19, 2012 (total return, distributions reinvested).
How much would $10,000 invested in CEMB be worth?
$10,000 invested in CEMB at its first recorded close on April 19, 2012 would be worth about $16,372 on October 23, 2026 with distributions reinvested.
What was the worst year for CEMB?
The worst calendar year was 2022, with a total return of −12.6%. The best was 2019 at +13.9%.
What is the biggest drawdown of CEMB?
The largest peak-to-trough decline was −20.8% between February 21, 2020 and March 19, 2020. It recovered to the old high on August 4, 2020, 5 months after the bottom.
How volatile is CEMB?
Over the past 3 years CEMB had an annualized volatility of 4.9% and a Sharpe ratio of 0.47 (excess return over 1–3 month T-bills per unit of risk).