PGHYvsCEMBETF Comparison
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Invesco Global ex-US High Yield Corporate Bond ETF (PGHY) belongs to the Intl HY Bonds segment. iShares J.P. Morgan EM Corporate Bond ETF (CEMB) is part of the EM Corporate Bonds segment. PGHY's top 3 sector exposures are Finance, Energy and Non-Energy Materials. In contrast, CEMB's top sector exposures are Finance, Non-Energy Materials and Energy. PGHY is less expensive with a Total Expense Ratio (TER) of 0.35%, versus 0.5% for CEMB. PGHY is down -0.86% year-to-date (YTD) with +$42M in YTD flows. CEMB performs better with 1.72% YTD performance, and +$52M in YTD flows. Run a side-by-side ETF comparison of PGHY and CEMB 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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PGHY vs CEMB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PGHY CEMB | +0.32%+0.60% | -0.34%+0.26% | -0.86%+1.72% | +0.94%+3.97% | +22.27%+23.11% | +20.89%+9.49% |
| Flows | PGHY CEMB | +$2M+$29M | +$12M+$6M | +$42M+$52M | +$48M+$43M | +$50M-$15M | +$15M+$24M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PGHY CEMB | +2.14%+1.55% | +2.56%+1.81% | +2.71%+2.50% | +2.64%+3.24% |
| Max drawdown | PGHY CEMB | -1.15%-0.76% | -3.08%-2.25% | -3.42%-2.84% | -8.81%-20.35% |
| Max drawdown duration | PGHY CEMB | 76d63d | 190d92d | 73d63d | 815d1100d |
Trading data
PGHY | CEMB | |
Last sale 9/1/2026 at 1:30 PM | $19.56 | $45.04 |
| Previous close 08/31/2026 | $19.64 | $45.32 |
| Consolidated volume 08/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 2, 2026
1-year trailing difference
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PGHY | CEMB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 9/1/2026 at 1:30 PM
Live
Closed
PGHY | CEMB | |
|---|---|---|
| Last price | $19.56 | $45.04 |
| 1D performance | -0.41% | -0.62% |
| AuM | $227.14 M | $433.65 M |
| E/R | 0.35% | 0.5% |
Characteristics
PGHY | CEMB | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | iShares |
| Benchmark | ICE USD Global High Yield Excluding US Issuers Constrained Index | J.P. Morgan CEMBI Broad Diversified Core |
| N° of holdings | 591 | 1161 |
| Asset class | Fixed Income | Fixed Income |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 20, 2013 | April 17, 2012 |
| ESG | No | No |
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Exposure
Countries
PGHY
Brazil
10.55%
Canada
10.16%
United Kingdom
9.55%
Other
69.75%
CEMB
Hong Kong
7.16%
Other
92.84%
Sectors
PGHY
Finance
19%
Energy
14.5%
Non-Energy Materi.
13.87%
Telecommunication.
13.33%
Industrials
8.85%
Utilities
8.07%
Other
22.38%
CEMB
Finance
38.96%
Non-Energy Materi.
12.29%
Energy
11.76%
Utilities
8.5%
Telecommunication.
7.22%
Other
21.28%
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Diversification
PGHY
Total weight of top 15 holdings out of 15
8.87%
CEMB
Total weight of top 15 holdings out of 15
5.4%
Top 15 holdings
Data as of July 31, 2026
PGHY
ICBC, 3.2% perp., USD
1.36%
Samarco Mineracao, 4% 30jun2031, USD
1.01%
1011778 B.C., 4% 15oct2030, USD
0.59%
Nissan Motor, 4.81% 17sep2030, USD
0.58%
Genmab, 7.25% 15dec2033, USD
0.57%
Nissan Motor, 4.345% 17sep2027, USD
0.56%
Rakuten Group, 9.75% 15apr2029, USD
0.51%
Digicel International Finance, 8.625% 1aug2032, USD
0.51%
Connect Finco SARL, 9% 15sep2029, USD
0.50%
Vodafone Group, 7% 4apr2079, USD
0.48%
Gol Linhas Aereas, 14.375% 6jun2030, USD
0.48%
Ardagh Group, 9.5% 1dec2030, USD
0.46%
Rakuten Group, 11.25% 15feb2027, USD
0.43%
Altice France (SFR Group), 6.5% 15apr2032, USD
0.42%
Grupo Nutresa, 9% 12may2035, USD
0.42%
CEMB
BlackRock Cash Funds - Treasury
1.19%
ICBC, 3.2% perp., USD
0.40%
Digicel International Finance, 8.625% 1aug2032, USD
0.37%
Ecopetrol, 8.875% 13jan2033, USD
0.32%
YPF, 8.25% 17jan2034, USD
0.31%
Sands China, 5.4% 8aug2028, USD
0.31%
ORLEN, 6% 30jan2035, USD (C)
0.30%
First Quantum Minerals, 6.375% 15feb2036, USD
0.30%
PT Freeport Indonesia, 5.315% 14apr2032, USD
0.29%
TSMC, 2.25% 23apr2031, USD
0.29%
Samarco Mineracao, 4% 30jun2031, USD
0.28%
Naspers, 3.061% 13jul2031, USD
0.27%
First Quantum Minerals, 8.625% 1jun2031, USD
0.26%
OCP SA, 6.75% 2may2034, USD
0.26%
Ecopetrol, 6.875% 29apr2030, USD
0.25%
Frequently asked questions about PGHY and CEMB
How have the PGHY and CEMB ETFs performed in 2026?
As of August 31, 2026, PGHY is down -0.86% year-to-date (YTD), while CEMB has returned 1.72%. That puts CEMB better performer ahead so far this year.
Which ETF is attracting more investor money: PGHY or CEMB?
Year-to-date, the PGHY ETF saw +$42M in flows, compared to +$52M for CEMB.
Which ETF is more volatile: PGHY or CEMB?
Over the past year, PGHY had a volatility of 2.56%, while CEMB experienced 1.81%.
Which ETF is bigger: PGHY or CEMB?
As of August 31, 2026, PGHY holds $227.14 M in assets under management (AUM), while CEMB manages $433.65 M.
What sectors do the PGHY and CEMB ETFs invest in?
PGHY leans toward sectors like Finance, Energy and Non-Energy Materials. Meanwhile, CEMB focuses on Finance, Non-Energy Materials and Energy.
What are the top holdings of the PGHY ETF and CEMB ETF?
PGHY top holdings include ICBC, 3.2% perp., USD, Samarco Mineracao, 4% 30jun2031, USD and 1011778 B.C., 4% 15oct2030, USD. CEMB holds in its top three: BlackRock Cash Funds - Treasury, ICBC, 3.2% perp., USD and Digicel International Finance, 8.625% 1aug2032, USD.
Which ETF is more diversified: PGHY or CEMB?
PGHY holds 592 securities with 8.87% of its assets in the top 15. CEMB has 1166 securities and a top 15 weight of 5.4%.
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