EMD5.L vs. EMCR.L
EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) and EMCR.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - EMD5.L tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index while EMCR.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, EMD5.L returned 2.39%/yr vs 1.97%/yr for EMCR.L. A 0.53 correlation means they provide meaningful diversification when combined. EMD5.L charges 0.25%/yr vs 0.50%/yr for EMCR.L.
Performance
EMD5.L vs. EMCR.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMD5.L achieves a -0.96% return, which is significantly lower than EMCR.L's 1.77% return.
EMD5.L
- 1D
- 0.11%
- 1M
- -0.21%
- 6M
- 1.53%
- YTD
- -0.96%
- 1Y
- 3.67%
- 3Y*
- 7.13%
- 5Y*
- 2.39%
- 10Y*
- —
EMCR.L
- 1D
- 0.26%
- 1M
- 0.19%
- 6M
- 1.48%
- YTD
- 1.77%
- 1Y
- 6.02%
- 3Y*
- 6.91%
- 5Y*
- 1.97%
- 10Y*
- 3.51%
EMD5.L vs. EMCR.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | -0.96% | 10.15% | 8.41% | 7.84% | -10.41% | -0.28% | 0.80% |
EMCR.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) | 1.77% | 8.43% | 6.66% | 7.85% | -12.39% | -0.65% | 1.18% |
Correlation
The correlation between EMD5.L and EMCR.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.53 |
The correlation between EMD5.L and EMCR.L has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
EMD5.L vs. EMCR.L — Risk / Return Rank
EMD5.L
EMCR.L
EMD5.L vs. EMCR.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCR.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.
| EMD5.L | EMCR.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.27 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 2.20 | -1.10 |
| Martin ratioReturn relative to average drawdown | 2.76 | 9.44 | -6.68 |
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Drawdowns
EMD5.L vs. EMCR.L - Drawdown Comparison
The maximum EMD5.L drawdown since its inception was -16.04%, smaller than the maximum EMCR.L drawdown of -22.67%. Use the drawdown chart below to compare losses from any high point for EMD5.L and EMCR.L.
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Drawdown Indicators
| EMD5.L | EMCR.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.04% | -22.67% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -2.72% | -0.57% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -3.69% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -20.20% | +4.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.67% | — |
Current DrawdownCurrent decline from peak | -1.06% | -0.18% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -3.28% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 0.64% | +0.67% |
Volatility
EMD5.L vs. EMCR.L - Volatility Comparison
The current volatility for L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.L) is 0.95%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Dist) (EMCR.L) has a volatility of 1.01%. This indicates that EMD5.L experiences smaller price fluctuations and is considered to be less risky than EMCR.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMD5.L | EMCR.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.01% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 3.50% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 4.06% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 5.49% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 7.50% | -2.88% |
EMD5.L vs. EMCR.L - Expense Ratio Comparison
EMD5.L has a 0.25% expense ratio, which is lower than EMCR.L's 0.50% expense ratio.
Dividends
EMD5.L vs. EMCR.L - Dividend Comparison
EMD5.L has not paid dividends to shareholders, while EMCR.L's dividend yield for the trailing twelve months is around 5.59%.
| 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% |
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | 0.00% | 5.66% | 6.09% | 4.60% | 3.04% | 1.25% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMD5.L and EMCR.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMD5.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMD5.L is cheaper with a 0.25% expense ratio, compared with 0.50% for EMCR.L.
EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index, while EMCR.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.25% for EMD5.L and 0.50% for EMCR.L.
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