EMCR.L vs. EMAU.L
EMCR.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist)) and EMAU.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - EMCR.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index while EMAU.L tracks the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. Both are passively managed. Over the past 3 years, EMCR.L returned 7.10%/yr vs 6.29%/yr for EMAU.L. A 0.64 correlation means they provide meaningful diversification when combined. EMCR.L charges 0.50%/yr vs 0.35%/yr for EMAU.L.
Performance
EMCR.L vs. EMAU.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMCR.L achieves a 1.80% return, which is significantly higher than EMAU.L's 1.29% return.
EMCR.L
- 1D
- 0.29%
- 1M
- 0.23%
- 6M
- 1.61%
- YTD
- 1.80%
- 1Y
- 6.43%
- 3Y*
- 7.10%
- 5Y*
- 1.97%
- 10Y*
- 3.52%
EMAU.L
- 1D
- 0.00%
- 1M
- -0.27%
- 6M
- 0.92%
- YTD
- 1.29%
- 1Y
- 5.57%
- 3Y*
- 6.29%
- 5Y*
- —
- 10Y*
- —
EMCR.L vs. EMAU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 1.80% | 8.43% | 6.66% | 7.85% | -12.39% | -0.81% |
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% |
Correlation
The correlation between EMCR.L and EMAU.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2021 | 0.64 |
The correlation between EMCR.L and EMAU.L has been stable across timeframes, ranging from 0.54 to 0.64 - a consistent structural relationship.
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Return for Risk
EMCR.L vs. EMAU.L — Risk / Return Rank
EMCR.L
EMAU.L
EMCR.L vs. EMAU.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) (EMCR.L) and L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.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.
| EMCR.L | EMAU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.18 | +0.08 |
| Martin ratioReturn relative to average drawdown | 9.69 | 9.66 | +0.03 |
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Drawdowns
EMCR.L vs. EMAU.L - Drawdown Comparison
The maximum EMCR.L drawdown since its inception was -22.67%, which is greater than EMAU.L's maximum drawdown of -19.62%. Use the drawdown chart below to compare losses from any high point for EMCR.L and EMAU.L.
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Drawdown Indicators
| EMCR.L | EMAU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -19.62% | -3.05% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -2.55% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -3.01% | -0.68% |
Max Drawdown (5Y)Largest decline over 5 years | -20.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.27% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -5.68% | +2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.57% | +0.07% |
Volatility
EMCR.L vs. EMAU.L - Volatility Comparison
iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCR.L) has a higher volatility of 1.02% compared to L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.L) at 0.85%. This indicates that EMCR.L's price experiences larger fluctuations and is considered to be riskier than EMAU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCR.L | EMAU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.85% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 3.50% | 2.81% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 3.39% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 5.58% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 5.58% | +1.92% |
EMCR.L vs. EMAU.L - Expense Ratio Comparison
EMCR.L has a 0.50% expense ratio, which is higher than EMAU.L's 0.35% expense ratio.
Dividends
EMCR.L vs. EMAU.L - Dividend Comparison
EMCR.L's dividend yield for the trailing twelve months is around 5.59%, while EMAU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMAU.L L&G Emerging Markets Corporate Bond (USD) Screened 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% |
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 5.59% | 5.56% | 5.44% | 5.04% | 4.28% | 3.62% | 3.93% | 4.58% | 4.70% | 4.35% | 4.61% | 5.13% |
Frequently Asked Questions
EMCR.L and EMAU.L have a correlation of 0.54, 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 EMCR.L.
EMCR.L tracks J.P. Morgan CEMBI Broad Diversified Core Index, while EMAU.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.50% for EMCR.L and 0.35% for EMAU.L.
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