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Data as of Oct 28, 2026.

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BND vs EMB: Differences, Returns & Fees

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BND's duration was 5.7 years on Jun 30, 2026 and EMB's 6.5 on Jul 31, 2026; BND charges 0.03% to EMB's 0.39%.

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Net assets: $161.4bn on Sep 30, 2026 for Vanguard Total Bond Market ETF, and $13.2bn on Oct 28, 2026 for iShares J.P. Morgan USD Emerging Markets Bond ETF.

BND on its own →EMB on its own →
At a glance
−1.3%
BND total return, 1 year
−0.4%
EMB total return, 1 year
0.03%
BND expense ratio
0.39%
EMB expense ratio

Pair scorecard

BND costs 0.36 points a year less; their one-year returns differ by 0.9 points; BND is 12.5 times larger.

BND vs EMB: Differences, Returns & Fees
MeasureBNDEMB
Return
Total return, 1 year−1.3%−0.4%
Drawdown
Below its high3.5%, high on Aug 6, 20203.5%, high on Jun 29, 2026
Benchmark
What it tracksBloomberg U.S. Aggregate Float Adjusted IndexJ.P. Morgan EMBI Global Core Index
Cost and size
Expense ratio0.03%0.39%
Net assets, as of Sep 30, 2026$161.4bn$12.9bn
Holdings
Holdings in common1%

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method

Risk and return

Dec 28, 2007 to Oct 23, 2026 · 982 weekly returns
BND EMB
Return
Total return edge EMB +66.9% +126.2%
Annualized edge EMB +2.7% +4.4%
Price return edge BND −7.2% −9.4%
Risk
Volatility edge BND 5.1% 11.3%
Max drawdown edge BND −18.4% −32.0%
Risk-adjusted
Sharpe edge EMB 0.27 0.31
Sortino edge EMB 0.37 0.42
Calmar edge BND (slight) 0.15 0.14
Reading

EMB returned more: +126.2% to +66.9%. BND swung less: 5.1% to 11.3%. BND fell less at its worst: −18.4% to −32.0%.

Full scorecard

9 measures, with how each is measured Open ↓
Risk and return: BND vs EMB: Differences, Returns & Fees
MeasureBNDEMBEdgeHow it is measured
Return
Total return+66.9%+126.2%EMBPrice change plus distributions, reinvested.
Annualized+2.7%+4.4%EMBTotal return as a yearly rate.
Price return−7.2%−9.4%BNDPrice change alone, distributions left out.
Risk
Volatility5.1%11.3%BNDSpread of weekly returns, annualized. Lower is steadier.
Downside deviation3.7%8.4%BNDLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−18.4%−32.0%BNDDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.270.31EMBReturn above Treasury bills per unit of volatility.
Sortino0.370.42EMBReturn above Treasury bills per unit of downside deviation.
Calmar0.150.14BND (slight)Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 982 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

1%

By the books each fund has filed, BND and EMB hold 1% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

0 half 100%

half

1% in common

Positions both hold · largest shared weight first BND EMB
UNITED MEXICAN, due Feb 9, 2034 0.02% 0.12%
UNITED MEXICAN, due Feb 9, 2038 0.02% 0.17%
UNITED MEXICAN, due Feb 9, 2056 0.02% 0.13%
UNITED MEXICAN, due Jul 2, 2032 0.02% 0.17%
UNITED MEXICAN, due Feb 9, 2035 0.02% 0.12%
UNITED MEXICAN, due Mar 8, 2044 0.02% 0.12%
UNITED MEXICAN, due Mar 22, 2033 0.02% 0.16%
REP OF POLAND, due Sep 18, 2034 0.01% 0.32%
UNITED MEXICAN, due May 13, 2037 0.01% 0.18%
REPUBLIC OF PERU, due Jan 23, 2031 0.01% 0.32%
REP OF POLAND, due Oct 4, 2033 0.01% 0.26%
CHILE, due Jul 27, 2033 0.01% 0.16%
Only in one fund ↓
Only in BND
US TREASURY N/B, due Jan 31, 2028 0.47%
US TREASURY N/B, due May 15, 2034 0.41%
US TREASURY N/B, due Nov 15, 2034 0.41%
US TREASURY N/B, due Nov 30, 2027 0.41%
US TREASURY N/B, due Feb 15, 2035 0.41%
US TREASURY N/B, due Feb 15, 2036 0.41%
US TREASURY N/B, due Aug 15, 2034 0.41%
US TREASURY N/B, due Feb 15, 2034 0.40%
Only in EMB
Argentina Republic Government International Bonds, due Jul 9, 2035 1.21%
Ecuador Government International Bonds, due Jul 31, 2035 0.78%
Argentina Republic Government International Bonds, due Jan 9, 2038 0.70%
Argentina Republic Government International Bonds, due Jul 9, 2030 0.65%
Argentina Republic Government International Bonds, due Jul 9, 2041 0.57%
Ghana Government International Bonds, due Jul 3, 2035 0.55%
Eagle Funding Luxco Sarl, due Aug 17, 2030 0.50%
Oman Government International Bonds, due Jan 17, 2048 0.42%
Check overlap with more funds →

Side by side

BND Vanguard Total Bond Market ETF EMB iShares J.P. Morgan USD Emerging Markets Bond ETF
Where it sits Bond ETF Bond ETF
Issuer Vanguard iShares
What it is Tracks an index of US aggregate bonds Tracks the J.P. Morgan USD Emerging Markets Bond
Total return, 1 year −1.3% −0.4%
Its benchmark over the same days −1.4% (AGG) not measured
Gap to its benchmark +0.1 pts vs AGG not measured
Expense ratio 0.03% 0.39%
Holdings 16301 622
Net assets, BND as of Sep 30, 2026 and EMB as of Oct 28, 2026 $161.4bn $13.2bn

BND and EMB on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-7C4E834494

BND and EMB do different jobs. What does each one do in a portfolio?

  1. What each follows. BND follows Bloomberg U.S. Aggregate Float Adjusted Index and EMB follows J.P. Morgan EMBI Global Core Index.
  2. Holdings in common. 1% of the weight is in the same securities (holdings dated Jun 30, 2026 and Jul 31, 2026).
  3. Number of holdings. BND holds 16,301 positions and EMB holds 622.

Data as of Oct 28, 2026.

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About each fund
BND

BND tracks an index of US aggregate bonds. Over the year to Oct 28, 2026 it returned −1.3% with distributions reinvested, against −1.4% for its benchmark, the Bloomberg U.S. Aggregate Float Adjusted Index, measured by the closely related Bloomberg U.S. Aggregate Bond Index. The prospectus expense ratio is 0.03% a year. It sat 3.5% below its high of Aug 6, 2020 on Oct 28, 2026.

EMB

EMB tracks the J.P. Morgan USD Emerging Markets Bond. Over the year to Oct 28, 2026 it returned −0.4% with distributions reinvested. The prospectus expense ratio is 0.39% a year. It sat 3.5% below its high of Jun 29, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BND or EMB?
In the year to Oct 28, 2026, with distributions reinvested, BND returned −1.3% and EMB −0.4%.
Which is cheaper, BND or EMB?
BND is cheaper, by 0.36 percentage points a year. That is about $36 on $10,000 held for a year. Fees come from each fund's prospectus.
Other comparisons
BND vs TIPBND vs HYGBND vs IGIBBND vs VTIPAGG vs EMBEMB vs IUSBEMB vs TLTBSV vs EMB
Where to next
BND on its own →EMB on its own →Hold both: look the portfolio through →Rankings →BND dividend history →BND holdings →EMB dividend history →EMB holdings →Standards and sources →
Sources and dates
BND filings on SEC EDGAR ↗
BND prospectus with the expense ratio (SEC) ↗
Vanguard page for BND ↗
EMB filings on SEC EDGAR ↗
EMB prospectus with the expense ratio (SEC) ↗
iShares page for EMB ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, BND against EMB, data as of Oct 28, 2026. https://etfiq.com/compare/any/bnd-vs-emb

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.