EMAU.L vs. EMCA.L
EMAU.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - EMAU.L tracks the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index while EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 3 years, EMAU.L returned 6.29%/yr vs 6.97%/yr for EMCA.L. A 0.63 correlation means they provide meaningful diversification when combined. EMAU.L charges 0.35%/yr vs 0.50%/yr for EMCA.L.
Performance
EMAU.L vs. EMCA.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMAU.L achieves a 1.29% return, which is significantly lower than EMCA.L's 1.55% return.
EMAU.L
- 1D
- 0.00%
- 1M
- -0.27%
- 6M
- 0.92%
- YTD
- 1.29%
- 1Y
- 5.57%
- 3Y*
- 6.29%
- 5Y*
- —
- 10Y*
- —
EMCA.L
- 1D
- -0.09%
- 1M
- -0.38%
- 6M
- 1.25%
- YTD
- 1.55%
- 1Y
- 5.99%
- 3Y*
- 6.97%
- 5Y*
- 1.91%
- 10Y*
- —
EMAU.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMAU.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) | 1.29% | 8.06% | 5.68% | 6.84% | -11.34% | -1.23% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.55% | 8.60% | 6.21% | 7.96% | -12.09% | -1.00% |
Correlation
The correlation between EMAU.L and EMCA.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2021 | 0.63 |
The correlation between EMAU.L and EMCA.L shifts across timeframes, from 0.46 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMAU.L vs. EMCA.L — Risk / Return Rank
EMAU.L
EMCA.L
EMAU.L vs. EMCA.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) (EMAU.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.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.
| EMAU.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.29 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.63 | -0.45 |
| Martin ratioReturn relative to average drawdown | 9.66 | 10.19 | -0.53 |
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Drawdowns
EMAU.L vs. EMCA.L - Drawdown Comparison
The maximum EMAU.L drawdown since its inception was -19.62%, smaller than the maximum EMCA.L drawdown of -24.69%. Use the drawdown chart below to compare losses from any high point for EMAU.L and EMCA.L.
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Drawdown Indicators
| EMAU.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.62% | -24.69% | +5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.55% | -2.21% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -3.01% | -3.58% | +0.57% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.14% | — |
Current DrawdownCurrent decline from peak | -0.27% | -0.53% | +0.26% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -4.05% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.57% | 0.00% |
Volatility
EMAU.L vs. EMCA.L - Volatility Comparison
The current volatility for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.L) is 0.85%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) has a volatility of 1.06%. This indicates that EMAU.L experiences smaller price fluctuations and is considered to be less risky than EMCA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMAU.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 1.06% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 3.26% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.39% | 3.82% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.58% | 5.25% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.58% | 8.79% | -3.21% |
EMAU.L vs. EMCA.L - Expense Ratio Comparison
EMAU.L has a 0.35% expense ratio, which is lower than EMCA.L's 0.50% expense ratio.
Dividends
EMAU.L vs. EMCA.L - Dividend Comparison
Neither EMAU.L nor EMCA.L has paid dividends to shareholders.
Frequently Asked Questions
EMAU.L and EMCA.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMAU.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMAU.L is cheaper with a 0.35% expense ratio, compared with 0.50% for EMCA.L.
EMAU.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.35% for EMAU.L and 0.50% for EMCA.L.
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