EMB vs VWOB: Emerging Market Bond ETFs — VWOB Is Cheaper for Similar Exposure
Both hold USD-denominated government bonds from emerging market countries. VWOB charges 0.20%; EMB charges 0.39%. For long-term EM fixed income, the fee difference matters.
EMB (iShares JP Morgan USD Emerging Markets Bond ETF) and VWOB (Vanguard Emerging Markets Government Bond ETF) both hold US dollar-denominated sovereign and quasi-sovereign bonds from emerging market countries. Both provide exposure to EM government debt from countries like Mexico, Brazil, Indonesia, Saudi Arabia, and others — all in USD, eliminating currency risk relative to individual country bond markets. EMB tracks the JP Morgan EMBI Global Core Index (~600 bonds); VWOB tracks a Barclays index (~750 bonds). EMB charges 0.39%; VWOB charges 0.20% — nearly half the cost. EMB has $15B+ in AUM vs VWOB's $3.5B, giving it substantially more liquidity. For long-term investors buying and holding, VWOB's lower fee is the logical winner.
Whether the lower-cost fund suits your situation depends on your existing holdings, account type, tax situation, and how you use each fund. This is a cost comparison, not a personalized recommendation.
📋 EMB vs VWOB — Key Facts Side by Side
| Metric | EMB | VWOB |
|---|---|---|
| Fund Name | iShares J.P. Morgan USD Emerging Markets Bond ETF | Vanguard Emerging Markets Government Bond Index Fund |
| Issuer | iShares | Vanguard |
| Tracks Index | JP Morgan EMBI Global Core | Bloomberg USD Emerging Markets Government RIC Capped |
| Expense Ratio | 0.39% | 0.20% ✓ |
| Cost per $10K/yr | $39.00 | $20.00 |
| AUM | $14.6B | $6.5B |
| Holdings | 600 | 750 |
| Inception | 2007 | 2013 |
| 1-Year Return | +4.60% | +3.07% |
| 3-Year Return | +9.88% | +9.45% |
| 5-Year Return | +1.86% | +2.04% |
| Dividend Yield | 5.02% | 5.81% |
| Holdings Overlap | See holdings overlap → | |
| Avg Bid-Ask Spread | 0.01% | 0.02% |
Expense ratio, AUM, and returns updated Jul 14, 2026 from ETF BFF database. Returns are annualised. Not investment advice.
📊 EMB vs VWOB — Annualised Returns
Annualised returns (trailing, price-based). Past performance does not guarantee future results.
🎯 Which Fund Fits Which Investor?
- want income and stability with lower portfolio volatility
- already use iShares and prefer staying within one fund family
- want the lowest fees: saves ~$19/yr per $10K vs EMB
- want income and stability with lower portfolio volatility
💰 What the Fee Difference Actually Costs
Adjust the numbers for your situation. This models each fund's expense ratio compounding against your balance over time.
Assumes a constant annual return reinvested, with each fund's expense ratio deducted yearly. Illustrative only; actual returns vary. Past performance does not guarantee future results.
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❓ EMB vs VWOB — Frequently Asked Questions
New to ETF investing? See answers to the most common ETF questions →