EMD5.L vs. IESG.L
EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) and IESG.L (iShares MSCI Europe SRI UCITS ETF) are both exchange-traded funds - EMD5.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index, while IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index. Both are passively managed. Over the past 5 years, EMD5.L returned 2.39%/yr vs 4.76%/yr for IESG.L. At a 0.46 correlation, their price movements are largely independent. EMD5.L charges 0.25%/yr vs 0.20%/yr for IESG.L.
Performance
EMD5.L vs. IESG.L - Performance Comparison
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Different Trading Currencies
EMD5.L is traded in USD, while IESG.L is traded in GBp. To make them comparable, the IESG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMD5.L achieves a -0.96% return, which is significantly lower than IESG.L's 7.37% 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*
- —
IESG.L
- 1D
- -0.56%
- 1M
- 0.03%
- 6M
- 4.90%
- YTD
- 7.37%
- 1Y
- 9.33%
- 3Y*
- 8.88%
- 5Y*
- 4.76%
- 10Y*
- 8.71%
EMD5.L vs. IESG.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% |
IESG.L iShares MSCI Europe SRI UCITS ETF | 7.37% | 16.62% | -0.80% | 20.29% | -19.53% | 17.77% | 3.91% |
Correlation
The correlation between EMD5.L and IESG.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.46 |
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Return for Risk
EMD5.L vs. IESG.L — Risk / Return Rank
EMD5.L
IESG.L
EMD5.L vs. IESG.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 MSCI Europe SRI UCITS ETF (IESG.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 | IESG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.12 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 0.72 | +0.38 |
| Martin ratioReturn relative to average drawdown | 2.76 | 2.44 | +0.33 |
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Drawdowns
EMD5.L vs. IESG.L - Drawdown Comparison
The maximum EMD5.L drawdown since its inception was -16.04%, smaller than the maximum IESG.L drawdown of -37.27%. Use the drawdown chart below to compare losses from any high point for EMD5.L and IESG.L.
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Drawdown Indicators
| EMD5.L | IESG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.04% | -37.27% | +21.23% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -12.82% | +9.53% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -17.69% | +14.40% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | -35.45% | +19.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.45% | — |
Current DrawdownCurrent decline from peak | -1.06% | -1.57% | +0.51% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -10.12% | +5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 3.82% | -2.51% |
Volatility
EMD5.L vs. IESG.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 MSCI Europe SRI UCITS ETF (IESG.L) has a volatility of 3.73%. This indicates that EMD5.L experiences smaller price fluctuations and is considered to be less risky than IESG.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 | IESG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 3.73% | -2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 12.48% | -8.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 15.02% | -11.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 19.27% | -14.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 17.87% | -13.25% |
EMD5.L vs. IESG.L - Expense Ratio Comparison
EMD5.L has a 0.25% expense ratio, which is higher than IESG.L's 0.20% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMD5.L vs. IESG.L - Dividend Comparison
Neither EMD5.L nor IESG.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% |
IESG.L iShares MSCI Europe SRI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMD5.L and IESG.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESG.L is cheaper with a 0.20% expense ratio, compared with 0.25% for EMD5.L.
EMD5.L is categorized as Emerging Markets Bonds, while IESG.L is ESG. EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index, while IESG.L tracks MSCI Europe SRI Select Reduced Fossil Fuel Index. They also come from different issuers: L&G and iShares. Their fees differ too: 0.25% for EMD5.L and 0.20% for IESG.L.
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