EMA5.DE vs. ETLS.DE

Last updated Jun 5, 2026

EMA5.DE (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) and ETLS.DE (L&G US Equity UCITS ETF) are both exchange-traded funds - EMA5.DE is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity, while ETLS.DE is a Large Cap Blend Equities fund tracking the Solactive Core United States Large & Mid Cap. Both are passively managed. Over the past 5 years, EMA5.DE returned 3.38%/yr vs 14.64%/yr for ETLS.DE. At a 0.30 correlation, their price movements are largely independent. EMA5.DE charges 0.25%/yr vs 0.05%/yr for ETLS.DE.

Performance

EMA5.DE vs. ETLS.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) and L&G US Equity UCITS ETF (ETLS.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMA5.DE achieves a 2.33% return, which is significantly lower than ETLS.DE's 11.28% return.

EMA5.DE

• 1D: -0.04%
• 1M: 1.09%
• YTD: 2.33%
• 6M: 2.03%
• 1Y: 4.26%
• 3Y*: 5.12%
• 5Y*: 3.38%
• 10Y*: —

ETLS.DE

• 1D: -0.11%
• 1M: 5.49%
• YTD: 11.28%
• 6M: 11.23%
• 1Y: 25.64%
• 3Y*: 19.26%
• 5Y*: 14.64%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMA5.DE vs. ETLS.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
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%
ETLS.DE L&G US Equity UCITS ETF	11.28%	5.06%	32.53%	24.21%	-16.00%	38.89%	-0.10%

Correlation

The correlation between EMA5.DE and ETLS.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020	0.30

The correlation between EMA5.DE and ETLS.DE shifts across timeframes, from 0.30 (all time) to 0.40 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

EMA5.DE vs. ETLS.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMA5.DE

EMA5.DE Risk / Return Rank: 24
EMA5.DE Sharpe Ratio Rank: 22
EMA5.DE Sortino Ratio Rank: 21
EMA5.DE Omega Ratio Rank: 21
EMA5.DE Calmar Ratio Rank: 29
EMA5.DE Martin Ratio Rank: 26

ETLS.DE

ETLS.DE Risk / Return Rank: 68
ETLS.DE Sharpe Ratio Rank: 68
ETLS.DE Sortino Ratio Rank: 65
ETLS.DE Omega Ratio Rank: 70
ETLS.DE Calmar Ratio Rank: 69
ETLS.DE Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMA5.DE vs. ETLS.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) and L&G US Equity UCITS ETF (ETLS.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.

	EMA5.DE	ETLS.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.72	2.21	-1.49
Sortino ratio: Return per unit of downside risk	1.07	2.98	-1.92
Omega ratio: Gain probability vs. loss probability	1.13	1.41	-0.28
Calmar ratio: Return relative to maximum drawdown	1.38	3.37	-1.99
Martin ratio: Return relative to average drawdown	3.47	12.00	-8.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMA5.DE vs. ETLS.DE - Sharpe Ratio Comparison

The current EMA5.DE Sharpe Ratio is 0.72, which is lower than the ETLS.DE Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of EMA5.DE and ETLS.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMA5.DE	ETLS.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	2.21	-1.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.94	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.98	-0.51

Drawdowns

EMA5.DE vs. ETLS.DE - Drawdown Comparison

The maximum EMA5.DE drawdown since its inception was -10.01%, smaller than the maximum ETLS.DE drawdown of -33.98%. Use the drawdown chart below to compare losses from any high point for EMA5.DE and ETLS.DE.

Drawdown Indicators

	EMA5.DE	ETLS.DE	Difference
Max Drawdown Largest peak-to-trough decline	-10.01%	-33.98%	+23.97%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-7.57%	+4.51%
Max Drawdown (3Y) Largest decline over 3 years	-10.01%	-23.68%	+13.67%
Max Drawdown (5Y) Largest decline over 5 years	-10.01%	-23.68%	+13.67%
Current Drawdown Current decline from peak	-3.17%	-0.45%	-2.72%
Average Drawdown Average peak-to-trough decline	-3.55%	-4.63%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	2.13%	-0.91%

Volatility

EMA5.DE vs. ETLS.DE - Volatility Comparison

The current volatility for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMA5.DE) is 2.25%, while L&G US Equity UCITS ETF (ETLS.DE) has a volatility of 2.76%. This indicates that EMA5.DE experiences smaller price fluctuations and is considered to be less risky than ETLS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMA5.DE	ETLS.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	2.76%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	4.23%	7.67%	-3.44%
Volatility (1Y) Calculated over the trailing 1-year period	5.86%	11.54%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	15.45%	-8.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	17.17%	-10.23%

EMA5.DE vs. ETLS.DE - Expense Ratio Comparison

EMA5.DE has a 0.25% expense ratio, which is higher than ETLS.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

EMA5.DE vs. ETLS.DE - Dividend Comparison

EMA5.DE's dividend yield for the trailing twelve months is around 4.59%, while ETLS.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
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%
ETLS.DE L&G US Equity UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMA5.DE and ETLS.DE in my portfolio?

EMA5.DE and ETLS.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMA5.DE or ETLS.DE?

On fees, ETLS.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMA5.DE or ETLS.DE?

ETLS.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for EMA5.DE.

What is the main difference between EMA5.DE and ETLS.DE?

EMA5.DE is categorized as Emerging Markets Bonds, while ETLS.DE is Large Cap Blend Equities. EMA5.DE tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity, while ETLS.DE tracks Solactive Core United States Large & Mid Cap. Their fees differ too: 0.25% for EMA5.DE and 0.05% for ETLS.DE.