CEMBvsPGHYETF Comparison
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iShares J.P. Morgan EM Corporate Bond ETF (CEMB) belongs to the EM Corporate Bonds segment. Invesco Global ex-US High Yield Corporate Bond ETF (PGHY) is part of the Intl HY Bonds segment. CEMB's top 3 sector exposures are Finance, Non-Energy Materials and Energy. In contrast, PGHY's top sector exposures are Finance, Energy and Non-Energy Materials. CEMB is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.35% for PGHY. CEMB is down -0.28% year-to-date (YTD) with +$52M in YTD flows. PGHY performs worse with -3.19% YTD performance, and +$48M in YTD flows. Run a side-by-side ETF comparison of CEMB and PGHY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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CEMB vs PGHY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/14/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | CEMB PGHY | -1.20%-1.77% | -1.81%-2.89% | -0.28%-3.19% | +0.91%-1.41% | +22.92%+21.07% | +9.00%+18.98% |
| Flows | CEMB PGHY | -+$4M | +$41M+$12M | +$52M+$48M | +$34M+$48M | -$15M+$89M | -$7M+$21M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | CEMB PGHY | +2.06%+2.67% | +1.97%+2.67% | +2.49%+2.71% | +3.25%+2.68% |
| Max drawdown | CEMB PGHY | -2.55%-3.16% | -2.55%-4.14% | -2.84%-4.14% | -19.07%-8.50% |
| Max drawdown duration | CEMB PGHY | 50d91d | 107d234d | 63d234d | 1013d753d |
Trading data
CEMB | PGHY | |
Last sale 10/15/2026 at 1:30 PM | $44.14 | $19.05 |
| Previous close 10/14/2026 | $44.00 | $19.00 |
| Consolidated volume 10/14/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 16, 2026
1-year trailing difference
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CEMB | PGHY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 10/15/2026 at 1:30 PM
Live
Closed
CEMB | PGHY | |
|---|---|---|
| Last price | $44.14 | $19.05 |
| 1D performance | +0.32% | +0.26% |
| AuM | $421.34 M | $226.21 M |
| E/R | 0.5% | 0.35% |
Characteristics
CEMB | PGHY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | iShares | Invesco |
| Benchmark | J.P. Morgan CEMBI Broad Diversified Core | ICE USD Global High Yield Excluding US Issuers Constrained Index |
| N° of holdings | 1191 | 601 |
| Asset class | Fixed Income | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | April 17, 2012 | June 20, 2013 |
| ESG | No | No |
Exposure
Countries
CEMB
Hong Kong
7.25%
Other
92.75%
PGHY
Brazil
10.18%
Canada
9.51%
United Kingdom
9.51%
Other
70.8%
Sectors
CEMB
Finance
39.59%
Non-Energy Materi.
12.26%
Energy
11.94%
Utilities
8.17%
Telecommunication.
7.16%
Other
20.88%
PGHY
Finance
19.01%
Energy
14.79%
Non-Energy Materi.
13.51%
Telecommunication.
13.09%
Industrials
8.68%
Utilities
8.22%
Other
22.69%
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Diversification
CEMB
Total weight of top 15 holdings out of 15
5%
PGHY
Total weight of top 15 holdings out of 15
8.64%
Top 15 holdings
Data as of August 31, 2026
CEMB
BlackRock Cash Funds - Treasury
0.92%
ICBC, 3.2% perp., USD
0.37%
Digicel International Finance, 8.625% 1aug2032, USD
0.34%
Ecopetrol, 8.875% 13jan2033, USD
0.31%
YPF, 8.25% 17jan2034, USD
0.31%
OCP SA, 6.75% 2may2034, USD
0.29%
ORLEN, 6% 30jan2035, USD (C)
0.28%
Sands China, 5.4% 8aug2028, USD
0.28%
PT Freeport Indonesia, 5.315% 14apr2032, USD
0.28%
Wynn Macau, 5.625% 26aug2028, USD
0.28%
Ecopetrol, 8.375% 19jan2036, USD
0.27%
First Quantum Minerals, 6.375% 15feb2036, USD
0.27%
TSMC, 2.25% 23apr2031, USD
0.27%
Samarco Mineracao, 4% 30jun2031, USD
0.26%
Ecopetrol, 6.875% 29apr2030, USD
0.25%
PGHY
ICBC, 3.2% perp., USD
1.32%
Samarco Mineracao, 4% 30jun2031, USD
0.98%
1011778 B.C., 4% 15oct2030, USD
0.57%
Genmab, 7.25% 15dec2033, USD
0.57%
Nissan Motor, 4.81% 17sep2030, USD
0.56%
Nissan Motor, 4.345% 17sep2027, USD
0.55%
Rakuten Group, 9.75% 15apr2029, USD
0.51%
Digicel International Finance, 8.625% 1aug2032, USD
0.49%
Connect Finco SARL, 9% 15sep2029, USD
0.48%
Vodafone Group, 7% 4apr2079, USD
0.47%
Gol Linhas Aereas, 14.375% 6jun2030, USD
0.47%
Ardagh Group, 9.5% 1dec2030, USD
0.45%
Altice France (SFR Group), 6.5% 15apr2032, USD
0.41%
Grupo Nutresa, 9% 12may2035, USD
0.41%
Electricite de France (EDF), 9.125% perp., USD
0.40%
Frequently asked questions about CEMB and PGHY
How have the CEMB and PGHY ETFs performed in 2026?
As of October 14, 2026, CEMB is down -0.28% year-to-date (YTD), while PGHY has lost -3.19%. That puts CEMB better performer ahead so far this year.
Which ETF is attracting more investor money: CEMB or PGHY?
Year-to-date, the CEMB ETF saw +$52M in flows, compared to +$48M for PGHY.
Which ETF is more volatile: CEMB or PGHY?
Over the past year, CEMB had a volatility of 1.97%, while PGHY experienced 2.67%.
Which ETF is bigger: CEMB or PGHY?
As of October 14, 2026, CEMB holds $421.34 M in assets under management (AUM), while PGHY manages $226.21 M.
What sectors do the CEMB and PGHY ETFs invest in?
CEMB leans toward sectors like Finance, Non-Energy Materials and Energy. Meanwhile, PGHY focuses on Finance, Energy and Non-Energy Materials.
What are the top holdings of the CEMB ETF and PGHY ETF?
CEMB top holdings include BlackRock Cash Funds - Treasury, ICBC, 3.2% perp., USD and Digicel International Finance, 8.625% 1aug2032, USD. PGHY holds in its top three: ICBC, 3.2% perp., USD, Samarco Mineracao, 4% 30jun2031, USD and 1011778 B.C., 4% 15oct2030, USD.
Which ETF is more diversified: CEMB or PGHY?
CEMB holds 1202 securities with 5% of its assets in the top 15. PGHY has 603 securities and a top 15 weight of 8.64%.
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