EMCR.L vs. XUEM.L
EMCR.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist)) and XUEM.L (Xtrackers USD Emerging Markets Bond UCITS ETF 2D) are both Emerging Markets Bonds funds - EMCR.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index while XUEM.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMCR.L returned 1.97%/yr vs 1.73%/yr for XUEM.L. A 0.59 correlation means they provide meaningful diversification when combined. EMCR.L charges 0.50%/yr vs 0.25%/yr for XUEM.L.
Performance
EMCR.L vs. XUEM.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 lower than XUEM.L's 2.58% 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%
XUEM.L
- 1D
- 0.08%
- 1M
- -0.66%
- 6M
- 2.49%
- YTD
- 2.58%
- 1Y
- 11.02%
- 3Y*
- 9.04%
- 5Y*
- 1.73%
- 10Y*
- —
EMCR.L vs. XUEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 1.80% | 8.43% | 6.66% | 7.85% | -12.39% | -0.65% | 7.22% | 13.82% | 0.81% |
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 2.58% | 13.60% | 5.99% | 10.90% | -19.40% | -2.37% | 3.10% | 15.16% | 1.31% |
Correlation
The correlation between EMCR.L and XUEM.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 9, 2018 | 0.59 |
The correlation between EMCR.L and XUEM.L has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.
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Return for Risk
EMCR.L vs. XUEM.L — Risk / Return Rank
EMCR.L
XUEM.L
EMCR.L vs. XUEM.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 Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.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 | XUEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.43 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.79 | -0.53 |
| Martin ratioReturn relative to average drawdown | 9.69 | 11.81 | -2.12 |
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Drawdowns
EMCR.L vs. XUEM.L - Drawdown Comparison
The maximum EMCR.L drawdown since its inception was -22.67%, smaller than the maximum XUEM.L drawdown of -29.93%. Use the drawdown chart below to compare losses from any high point for EMCR.L and XUEM.L.
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Drawdown Indicators
| EMCR.L | XUEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.67% | -29.93% | +7.26% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -3.87% | +1.15% |
Max Drawdown (3Y)Largest decline over 3 years | -3.69% | -8.11% | +4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -20.20% | -29.93% | +9.73% |
Max Drawdown (10Y)Largest decline over 10 years | -22.67% | — | — |
Current DrawdownCurrent decline from peak | -0.16% | -0.66% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -3.28% | -7.55% | +4.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 0.91% | -0.27% |
Volatility
EMCR.L vs. XUEM.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 Xtrackers USD Emerging Markets Bond UCITS ETF 2D (XUEM.L) at 0.85%. This indicates that EMCR.L's price experiences larger fluctuations and is considered to be riskier than XUEM.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 | XUEM.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% | 3.99% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.07% | 4.96% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.49% | 8.91% | -3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 10.68% | -3.18% |
EMCR.L vs. XUEM.L - Expense Ratio Comparison
EMCR.L has a 0.50% expense ratio, which is higher than XUEM.L's 0.25% expense ratio.
Dividends
EMCR.L vs. XUEM.L - Dividend Comparison
EMCR.L's dividend yield for the trailing twelve months is around 5.59%, more than XUEM.L's 5.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
XUEM.L Xtrackers USD Emerging Markets Bond UCITS ETF 2D | 5.22% | 5.30% | 6.79% | 5.27% | 5.91% | 8.49% | 4.18% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMCR.L and XUEM.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEM.L is cheaper with a 0.25% expense ratio, compared with 0.50% for EMCR.L.
EMCR.L tracks J.P. Morgan CEMBI Broad Diversified Core Index, while XUEM.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.50% for EMCR.L and 0.25% for XUEM.L.
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