EMCP.L vs. EMCA.L
EMCP.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist)) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds from iShares tracking the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, EMCP.L returned 2.35%/yr vs 2.28%/yr for EMCA.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.50% expense ratio.
Performance
EMCP.L vs. EMCA.L - Performance Comparison
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Different Trading Currencies
EMCP.L is traded in GBP, while EMCA.L is traded in USD. To make them comparable, the EMCA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with EMCP.L having a 1.24% return and EMCA.L slightly lower at 1.23%.
EMCP.L
- 1D
- -0.70%
- 1M
- -0.72%
- 6M
- 0.87%
- YTD
- 1.24%
- 1Y
- 5.17%
- 3Y*
- 5.87%
- 5Y*
- 2.35%
- 10Y*
- 3.28%
EMCA.L
- 1D
- 0.00%
- 1M
- -1.17%
- 6M
- 0.73%
- YTD
- 1.23%
- 1Y
- 4.96%
- 3Y*
- 5.79%
- 5Y*
- 2.28%
- 10Y*
- —
EMCP.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMCP.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 1.24% | 0.95% | 8.19% | 1.91% | -1.50% | 0.62% | 3.41% | 10.30% | 4.56% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.23% | 0.87% | 8.06% | 2.56% | -1.64% | 0.43% | 3.90% | 9.44% | 5.14% |
Correlation
The correlation between EMCP.L and EMCA.L is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.74 |
The correlation between EMCP.L and EMCA.L has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
EMCP.L vs. EMCA.L — Risk / Return Rank
EMCP.L
EMCA.L
EMCP.L vs. EMCA.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 (Dist) (EMCP.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.
| EMCP.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.04 | +0.20 |
| Martin ratioReturn relative to average drawdown | 3.20 | 2.97 | +0.22 |
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Drawdowns
EMCP.L vs. EMCA.L - Drawdown Comparison
The maximum EMCP.L drawdown since its inception was -37.54%, which is greater than EMCA.L's maximum drawdown of -16.51%. Use the drawdown chart below to compare losses from any high point for EMCP.L and EMCA.L.
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Drawdown Indicators
| EMCP.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.54% | -16.51% | -21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.15% | -4.84% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -8.40% | -8.21% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -11.10% | -12.05% | +0.95% |
Max Drawdown (10Y)Largest decline over 10 years | -15.92% | — | — |
Current DrawdownCurrent decline from peak | -2.81% | -2.95% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -11.49% | -4.02% | -7.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.70% | -0.09% |
Volatility
EMCP.L vs. EMCA.L - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCP.L) is 1.97%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) has a volatility of 2.14%. This indicates that EMCP.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
| EMCP.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.97% | 2.14% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 5.56% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.82% | 6.98% | -1.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.76% | 8.46% | -0.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.35% | 10.82% | -1.47% |
EMCP.L vs. EMCA.L - Expense Ratio Comparison
Both EMCP.L and EMCA.L have an expense ratio of 0.50%.
Dividends
EMCP.L vs. EMCA.L - Dividend Comparison
EMCP.L's dividend yield for the trailing twelve months is around 5.65%, while EMCA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMCP.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 5.65% | 5.54% | 5.36% | 5.03% | 4.20% | 3.59% | 4.16% | 4.69% | 4.63% | 4.49% | 4.31% | 5.00% |
Frequently Asked Questions
EMCP.L and EMCA.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMCP.L and EMCA.L have the same expense ratio: 0.50% per year.
Both ETFs track J.P. Morgan CEMBI Broad Diversified Core Index.
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