EMD5.L vs. TAHY.L
EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) and TAHY.L (Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc)) 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 TAHY.L is a High Yield Bonds fund tracking the iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. Both are passively managed. Over the past 3 years, EMD5.L returned 7.13%/yr vs 8.17%/yr for TAHY.L. At a 0.18 correlation, their price movements are largely independent. EMD5.L charges 0.25%/yr vs 0.60%/yr for TAHY.L.
Performance
EMD5.L vs. TAHY.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 TAHY.L's 3.88% 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*
- —
TAHY.L
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 2.85%
- YTD
- 3.88%
- 1Y
- 6.69%
- 3Y*
- 8.17%
- 5Y*
- —
- 10Y*
- —
EMD5.L vs. TAHY.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
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% | -1.88% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 3.88% | 7.26% | 17.54% | -10.74% | -18.39% | -13.10% |
Correlation
The correlation between EMD5.L and TAHY.L is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | 0.18 |
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Return for Risk
EMD5.L vs. TAHY.L — Risk / Return Rank
EMD5.L
TAHY.L
EMD5.L vs. TAHY.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 Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.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 | TAHY.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.92 | ||
| Sortino ratioReturn per unit of downside risk | -1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.38 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 2.59 | -1.49 |
| Martin ratioReturn relative to average drawdown | 2.76 | 7.38 | -4.61 |
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Drawdowns
EMD5.L vs. TAHY.L - Drawdown Comparison
The maximum EMD5.L drawdown since its inception was -16.04%, smaller than the maximum TAHY.L drawdown of -51.61%. Use the drawdown chart below to compare losses from any high point for EMD5.L and TAHY.L.
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Drawdown Indicators
| EMD5.L | TAHY.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.04% | -51.61% | +35.57% |
Max Drawdown (1Y)Largest decline over 1 year | -3.29% | -2.57% | -0.72% |
Max Drawdown (3Y)Largest decline over 3 years | -3.29% | -9.81% | +6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -16.04% | — | — |
Current DrawdownCurrent decline from peak | -1.06% | -17.10% | +16.04% |
Average DrawdownAverage peak-to-trough decline | -4.32% | -26.81% | +22.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 0.91% | +0.40% |
Volatility
EMD5.L vs. TAHY.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 Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) (TAHY.L) has a volatility of 1.07%. This indicates that EMD5.L experiences smaller price fluctuations and is considered to be less risky than TAHY.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 | TAHY.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 1.07% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.51% | 2.83% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.97% | 3.64% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 13.09% | -8.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 13.09% | -8.47% |
EMD5.L vs. TAHY.L - Expense Ratio Comparison
EMD5.L has a 0.25% expense ratio, which is lower than TAHY.L's 0.60% expense ratio.
Dividends
EMD5.L vs. TAHY.L - Dividend Comparison
Neither EMD5.L nor TAHY.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% |
TAHY.L Janus Henderson Haitong Asia ex-Japan High Yield Corporate USD Bond Screened Core UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMD5.L and TAHY.L have a correlation of 0.10, 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 0.60% for TAHY.L.
EMD5.L is categorized as Emerging Markets Bonds, while TAHY.L is High Yield Bonds. EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index, while TAHY.L tracks iBoxx MSCI Scored & Screened Tilted USD Asia ex-Japan High Yield Capped TCA Index. They also come from different issuers: L&G and Janus Henderson. Their fees differ too: 0.25% for EMD5.L and 0.60% for TAHY.L.
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