EMBE.L vs. IS0E.DE
EMBE.L (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) and IS0E.DE (iShares Gold Producers UCITS ETF) are both exchange-traded funds - EMBE.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified Hedge TR EUR, while IS0E.DE is a Precious Metals fund tracking the S&P Commodity Producers Gold. Both are passively managed. Over the past 10 years, EMBE.L returned 1.09%/yr vs 12.85%/yr for IS0E.DE. At a 0.24 correlation, their price movements are largely independent. EMBE.L charges 0.50%/yr vs 0.55%/yr for IS0E.DE.
Performance
EMBE.L vs. IS0E.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMBE.L achieves a 1.23% return, which is significantly higher than IS0E.DE's -7.03% return. Over the past 10 years, EMBE.L has underperformed IS0E.DE with an annualized return of 1.09%, while IS0E.DE has yielded a comparatively higher 12.85% annualized return.
EMBE.L
- 1D
- 0.81%
- 1M
- 1.12%
- YTD
- 1.23%
- 6M
- 1.69%
- 1Y
- 8.49%
- 3Y*
- 7.36%
- 5Y*
- -0.43%
- 10Y*
- 1.09%
IS0E.DE
- 1D
- 5.81%
- 1M
- -15.57%
- YTD
- -7.03%
- 6M
- -3.86%
- 1Y
- 50.42%
- 3Y*
- 36.13%
- 5Y*
- 18.25%
- 10Y*
- 12.85%
EMBE.L vs. IS0E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 1.23% | 10.99% | 4.00% | 7.66% | -20.86% | -3.27% | 3.35% | 12.27% | -8.40% | 8.13% |
IS0E.DE iShares Gold Producers UCITS ETF | -7.03% | 129.59% | 18.76% | 6.25% | -3.74% | -3.07% | 13.51% | 44.07% | -4.43% | -6.02% |
Correlation
The correlation between EMBE.L and IS0E.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2013 | 0.24 |
The correlation between EMBE.L and IS0E.DE shifts across timeframes, from 0.24 (all time) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMBE.L vs. IS0E.DE — Risk / Return Rank
EMBE.L
IS0E.DE
EMBE.L vs. IS0E.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) and iShares Gold Producers UCITS ETF (IS0E.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.
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.
| EMBE.L | IS0E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.53 | +0.31 |
| Martin ratioReturn relative to average drawdown | 7.04 | 4.31 | +2.73 |
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Drawdowns
EMBE.L vs. IS0E.DE - Drawdown Comparison
The maximum EMBE.L drawdown since its inception was -30.73%, smaller than the maximum IS0E.DE drawdown of -82.14%. Use the drawdown chart below to compare losses from any high point for EMBE.L and IS0E.DE.
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Drawdown Indicators
| EMBE.L | IS0E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.73% | -82.14% | +51.41% |
Max Drawdown (1Y)Largest decline over 1 year | -4.58% | -32.80% | +28.22% |
Max Drawdown (3Y)Largest decline over 3 years | -7.94% | -32.80% | +24.86% |
Max Drawdown (5Y)Largest decline over 5 years | -30.46% | -38.05% | +7.59% |
Max Drawdown (10Y)Largest decline over 10 years | -30.73% | -45.61% | +14.88% |
Current DrawdownCurrent decline from peak | -3.70% | -28.30% | +24.60% |
Average DrawdownAverage peak-to-trough decline | -7.38% | -54.08% | +46.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 11.59% | -10.39% |
Volatility
EMBE.L vs. IS0E.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) is 2.14%, while iShares Gold Producers UCITS ETF (IS0E.DE) has a volatility of 14.22%. This indicates that EMBE.L experiences smaller price fluctuations and is considered to be less risky than IS0E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMBE.L | IS0E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.14% | 14.22% | -12.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 34.38% | -29.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.91% | 42.45% | -36.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.90% | 32.47% | -23.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.48% | 32.12% | -22.64% |
EMBE.L vs. IS0E.DE - Expense Ratio Comparison
EMBE.L has a 0.50% expense ratio, which is lower than IS0E.DE's 0.55% expense ratio.
Dividends
EMBE.L vs. IS0E.DE - Dividend Comparison
EMBE.L's dividend yield for the trailing twelve months is around 5.13%, while IS0E.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 5.13% | 5.44% | 5.64% | 5.50% | 5.39% | 3.92% | 3.85% | 4.77% | 5.75% | 3.88% | 5.36% | 4.72% |
IS0E.DE iShares Gold Producers UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMBE.L and IS0E.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMBE.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMBE.L is cheaper with a 0.50% expense ratio, compared with 0.55% for IS0E.DE.
EMBE.L is categorized as Emerging Markets Bonds, while IS0E.DE is Precious Metals. EMBE.L tracks JPM EMBI Global Diversified Hedge TR EUR, while IS0E.DE tracks S&P Commodity Producers Gold. Their fees differ too: 0.50% for EMBE.L and 0.55% for IS0E.DE.
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