36B1.DE vs. EMA5.DE
36B1.DE (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and EMA5.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) are both Emerging Markets Bonds funds - 36B1.DE tracks the JP Morgan ESG EMBI Global Diversified while EMA5.DE tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. Both are passively managed. Over the past 5 years, 36B1.DE returned 2.20%/yr vs 3.38%/yr for EMA5.DE. A 0.75 correlation means they provide meaningful diversification when combined. 36B1.DE charges 0.45%/yr vs 0.25%/yr for EMA5.DE.
Performance
36B1.DE vs. EMA5.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with 36B1.DE having a 2.43% return and EMA5.DE slightly lower at 2.33%.
36B1.DE
- 1D
- 0.13%
- 1M
- 1.40%
- YTD
- 2.43%
- 6M
- 1.88%
- 1Y
- 8.21%
- 3Y*
- 5.51%
- 5Y*
- 2.20%
- 10Y*
- —
EMA5.DE
- 1D
- -0.04%
- 1M
- 1.24%
- YTD
- 2.33%
- 6M
- 1.80%
- 1Y
- 4.57%
- 3Y*
- 5.12%
- 5Y*
- 3.38%
- 10Y*
- —
36B1.DE vs. EMA5.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 2.43% | -0.10% | 10.86% | 5.55% | -13.71% | 6.46% | -0.59% |
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 2.33% | -2.57% | 14.01% | 3.79% | -5.07% | 7.86% | -1.26% |
Correlation
The correlation between 36B1.DE and EMA5.DE is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.75 |
The correlation between 36B1.DE and EMA5.DE has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.
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Return for Risk
36B1.DE vs. EMA5.DE — Risk / Return Rank
36B1.DE
EMA5.DE
36B1.DE vs. EMA5.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) and L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| 36B1.DE | EMA5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.13 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.38 | +1.24 |
| Martin ratioReturn relative to average drawdown | 6.72 | 3.47 | +3.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 36B1.DE | EMA5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.72 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.47 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.47 | -0.24 |
Drawdowns
36B1.DE vs. EMA5.DE - Drawdown Comparison
The maximum 36B1.DE drawdown since its inception was -22.46%, which is greater than EMA5.DE's maximum drawdown of -10.01%. Use the drawdown chart below to compare losses from any high point for 36B1.DE and EMA5.DE.
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Drawdown Indicators
| 36B1.DE | EMA5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -10.01% | -12.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.95% | -3.06% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -12.43% | -10.01% | -2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -16.34% | -10.01% | -6.33% |
Current DrawdownCurrent decline from peak | -1.33% | -3.17% | +1.84% |
Average DrawdownAverage peak-to-trough decline | -8.64% | -3.55% | -5.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 1.22% | -0.06% |
Volatility
36B1.DE vs. EMA5.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (36B1.DE) is 1.21%, while L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) has a volatility of 2.25%. This indicates that 36B1.DE experiences smaller price fluctuations and is considered to be less risky than EMA5.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36B1.DE | EMA5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 2.25% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 3.81% | 4.23% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.87% | 5.86% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.41% | 7.07% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.55% | 6.94% | +2.61% |
36B1.DE vs. EMA5.DE - Expense Ratio Comparison
36B1.DE has a 0.45% expense ratio, which is higher than EMA5.DE's 0.25% expense ratio.
Dividends
36B1.DE vs. EMA5.DE - Dividend Comparison
36B1.DE's dividend yield for the trailing twelve months is around 4.93%, more than EMA5.DE's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36B1.DE iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 4.93% | 5.22% | 4.96% | 5.09% | 5.00% | 4.57% | 3.40% | 4.19% |
EMA5.DE L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 4.59% | 5.61% | 5.39% | 4.22% | 2.89% | 1.01% | 0.00% | 0.00% |
Frequently Asked Questions
36B1.DE and EMA5.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMA5.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMA5.DE is cheaper with a 0.25% expense ratio, compared with 0.45% for 36B1.DE.
36B1.DE tracks JP Morgan ESG EMBI Global Diversified, while EMA5.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity. They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.45% for 36B1.DE and 0.25% for EMA5.DE.
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