EMAG.L vs. ETRA.L
EMAG.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) and ETRA.L (L&G New Energy Commodities UCITS ETF USD Acc) are both exchange-traded funds - EMAG.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while ETRA.L is a Commodities fund tracking the Solactive Energy Transition Commodity Total Return Index. Both are passively managed. Over the past year, EMAG.L returned 4.81% vs 28.20% for ETRA.L. At a 0.10 correlation, their price movements are largely independent. EMAG.L charges 0.35%/yr vs 0.65%/yr for ETRA.L.
Performance
EMAG.L vs. ETRA.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMAG.L achieves a 0.97% return, which is significantly lower than ETRA.L's 9.29% return.
EMAG.L
- 1D
- -0.65%
- 1M
- -0.63%
- 6M
- 0.63%
- YTD
- 0.97%
- 1Y
- 4.81%
- 3Y*
- 5.31%
- 5Y*
- —
- 10Y*
- —
ETRA.L
- 1D
- 0.00%
- 1M
- -1.63%
- 6M
- 1.76%
- YTD
- 9.29%
- 1Y
- 28.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMAG.L vs. ETRA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMAG.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) | 0.97% | 0.75% | 4.25% |
ETRA.L L&G New Energy Commodities UCITS ETF USD Acc | 9.29% | 19.38% | -20.97% |
Correlation
The correlation between EMAG.L and ETRA.L is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2024 | 0.10 |
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Return for Risk
EMAG.L vs. ETRA.L — Risk / Return Rank
EMAG.L
ETRA.L
EMAG.L vs. ETRA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAG.L) and L&G New Energy Commodities UCITS ETF USD Acc (ETRA.L). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMAG.L | ETRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.37 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 1.12 | +0.02 |
| Martin ratioReturn relative to average drawdown | 2.81 | 2.11 | +0.70 |
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Drawdowns
EMAG.L vs. ETRA.L - Drawdown Comparison
The maximum EMAG.L drawdown since its inception was -11.32%, smaller than the maximum ETRA.L drawdown of -26.76%. Use the drawdown chart below to compare losses from any high point for EMAG.L and ETRA.L.
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Drawdown Indicators
| EMAG.L | ETRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.32% | -26.76% | +15.44% |
Max Drawdown (1Y)Largest decline over 1 year | -4.20% | -25.14% | +20.94% |
Max Drawdown (3Y)Largest decline over 3 years | -8.30% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -11.10% | +8.54% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -18.76% | +14.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 13.34% | -11.63% |
Volatility
EMAG.L vs. ETRA.L - Volatility Comparison
The current volatility for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAG.L) is 1.96%, while L&G New Energy Commodities UCITS ETF USD Acc (ETRA.L) has a volatility of 4.48%. This indicates that EMAG.L experiences smaller price fluctuations and is considered to be less risky than ETRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMAG.L | ETRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 4.48% | -2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 11.25% | -6.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 43.84% | -37.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.85% | 32.96% | -25.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.85% | 32.96% | -25.11% |
EMAG.L vs. ETRA.L - Expense Ratio Comparison
EMAG.L has a 0.35% expense ratio, which is lower than ETRA.L's 0.65% expense ratio.
Dividends
EMAG.L vs. ETRA.L - Dividend Comparison
Neither EMAG.L nor ETRA.L has paid dividends to shareholders.
Frequently Asked Questions
EMAG.L and ETRA.L have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMAG.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMAG.L is cheaper with a 0.35% expense ratio, compared with 0.65% for ETRA.L.
EMAG.L is categorized as Emerging Markets Bonds, while ETRA.L is Commodities. EMAG.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while ETRA.L tracks Solactive Energy Transition Commodity Total Return Index. Their fees differ too: 0.35% for EMAG.L and 0.65% for ETRA.L.
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