EMD5.L vs. EMLB.L
EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) and EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - EMD5.L tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index while EMLB.L tracks the PIMCO Emerging Markets Advantage Local Currency Bond Index. Both are passively managed. Over the past 5 years, EMD5.L returned 2.39%/yr vs 3.90%/yr for EMLB.L. At a 0.44 correlation, their price movements are largely independent. EMD5.L charges 0.25%/yr vs 0.39%/yr for EMLB.L.
Performance
EMD5.L vs. EMLB.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 EMLB.L's 2.55% 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*
- —
EMLB.L
- 1D
- -0.10%
- 1M
- -0.55%
- 6M
- 1.96%
- YTD
- 2.55%
- 1Y
- 8.40%
- 3Y*
- 5.61%
- 5Y*
- 3.90%
- 10Y*
- 3.12%
EMD5.L vs. EMLB.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% |
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 2.55% | 17.08% | -3.25% | 13.74% | -5.70% | -5.53% | 2.17% |
Correlation
The correlation between EMD5.L and EMLB.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.44 |
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Return for Risk
EMD5.L vs. EMLB.L — Risk / Return Rank
EMD5.L
EMLB.L
EMD5.L vs. EMLB.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 PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.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 | EMLB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.53 | -0.42 |
| Martin ratioReturn relative to average drawdown | 2.76 | 4.98 | -2.22 |
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Drawdowns
EMD5.L vs. EMLB.L - Drawdown Comparison
The maximum EMD5.L drawdown since its inception was -16.04%, smaller than the maximum EMLB.L drawdown of -29.75%. Use the drawdown chart below to compare losses from any high point for EMD5.L and EMLB.L.
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Drawdown Indicators
| EMD5.L | EMLB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.04% | -29.75% | +13.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -5.48% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -7.50% | +4.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -20.09% | +4.05% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.37% | — |
Current DrawdownCurrent decline from peak | -1.06% | -1.40% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -9.33% | +5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.68% | -0.37% |
Volatility
EMD5.L vs. EMLB.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 PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a volatility of 1.78%. This indicates that EMD5.L experiences smaller price fluctuations and is considered to be less risky than EMLB.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 | EMLB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.78% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 6.18% | -2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 7.00% | -3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 9.48% | -4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 9.58% | -4.96% |
EMD5.L vs. EMLB.L - Expense Ratio Comparison
EMD5.L has a 0.25% expense ratio, which is lower than EMLB.L's 0.39% expense ratio.
Dividends
EMD5.L vs. EMLB.L - Dividend Comparison
Neither EMD5.L nor EMLB.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
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% |
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMD5.L and EMLB.L have a correlation of 0.40, 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 0.39% for EMLB.L.
EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index, while EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index. They also come from different issuers: L&G and PIMCO. Their fees differ too: 0.25% for EMD5.L and 0.39% for EMLB.L.
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