EMCA.L vs. TAHY.L
EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) and TAHY.L (Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc)) are both exchange-traded funds - EMCA.L is a Emerging Markets Bonds fund tracking the J.P. Morgan CEMBI Broad Diversified Core Index, while TAHY.L is a High Yield Bonds fund tracking the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. Both are passively managed. Over the past 3 years, EMCA.L returned 6.82%/yr vs 8.17%/yr for TAHY.L. At a 0.27 correlation, their price movements are largely independent. EMCA.L charges 0.50%/yr vs 0.60%/yr for TAHY.L.
Performance
EMCA.L vs. TAHY.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMCA.L achieves a 1.49% return, which is significantly lower than TAHY.L's 3.88% return.
EMCA.L
- 1D
- -0.15%
- 1M
- -0.44%
- 6M
- 1.04%
- YTD
- 1.49%
- 1Y
- 5.60%
- 3Y*
- 6.82%
- 5Y*
- 1.90%
- 10Y*
- —
TAHY.L
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 2.85%
- YTD
- 3.88%
- 1Y
- 6.69%
- 3Y*
- 8.17%
- 5Y*
- —
- 10Y*
- —
EMCA.L vs. TAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.49% | 8.60% | 6.21% | 7.96% | -12.09% | -1.74% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 3.88% | 7.26% | 17.54% | -10.74% | -18.39% | -13.10% |
Correlation
The correlation between EMCA.L and TAHY.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | 0.27 |
The correlation between EMCA.L and TAHY.L shifts across timeframes, from 0.12 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMCA.L vs. TAHY.L — Risk / Return Rank
EMCA.L
TAHY.L
EMCA.L vs. TAHY.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) and Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.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.
| EMCA.L | TAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.38 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.59 | -0.07 |
| Martin ratioReturn relative to average drawdown | 9.78 | 7.38 | +2.40 |
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Drawdowns
EMCA.L vs. TAHY.L - Drawdown Comparison
The maximum EMCA.L drawdown since its inception was -24.69%, smaller than the maximum TAHY.L drawdown of -51.61%. Use the drawdown chart below to compare losses from any high point for EMCA.L and TAHY.L.
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Drawdown Indicators
| EMCA.L | TAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.69% | -51.61% | +26.92% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -2.57% | +0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -3.58% | -9.81% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -20.14% | — | — |
Current DrawdownCurrent decline from peak | -0.59% | -17.10% | +16.51% |
Average DrawdownAverage peak-to-trough decline | -4.05% | -26.81% | +22.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 0.91% | -0.34% |
Volatility
EMCA.L vs. TAHY.L - Volatility Comparison
iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) and Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) have volatilities of 1.06% and 1.07%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCA.L | TAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.06% | 1.07% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.26% | 2.83% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.64% | +0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.25% | 13.09% | -7.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.78% | 13.09% | -4.31% |
EMCA.L vs. TAHY.L - Expense Ratio Comparison
EMCA.L has a 0.50% expense ratio, which is lower than TAHY.L's 0.60% expense ratio.
Dividends
EMCA.L vs. TAHY.L - Dividend Comparison
Neither EMCA.L nor TAHY.L has paid dividends to shareholders.
Frequently Asked Questions
EMCA.L and TAHY.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMCA.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMCA.L is cheaper with a 0.50% expense ratio, compared with 0.60% for TAHY.L.
EMCA.L is categorized as Emerging Markets Bonds, while TAHY.L is High Yield Bonds. EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index, while TAHY.L tracks iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. They also come from different issuers: iShares and Janus Henderson. Their fees differ too: 0.50% for EMCA.L and 0.60% for TAHY.L.
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