Normal earbuds isolate around -10~-15dB, depends on fit. A typical IEM with (what I refer as) average isolation will be around -20~-26dB. A high isolating IEM (Etymotic. Westone, Shure) will give you around -33dB or so. Most custom IEM are generally around -26dB.
In comparison, a normal silicone earplug usually has a NNR rating around -20dB, an Etymotic Musician earplug is NNR -12dB (but gives around -20dB in real world). A high isolating foam earplug can go around NNR -30dB or so.
That being said, you can't actually just say whether earplug or IEM is more isolating. It really depends on which earplug and IEM we are talking here since individual rating varies a lot.