EMDG.L vs. JMBP.L
EMDG.L (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) and JMBP.L (JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist)) are both Emerging Markets Bonds funds - EMDG.L tracks the JPM EMBI Global Diversified TR USD while JMBP.L tracks the JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). Both are passively managed. Over the past 5 years, EMDG.L returned 3.95%/yr vs 0.77%/yr for JMBP.L. At a correlation of -0.02, they often move in opposite directions. EMDG.L charges 0.25%/yr vs 0.39%/yr for JMBP.L.
Performance
EMDG.L vs. JMBP.L - Performance Comparison
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Different Trading Currencies
EMDG.L is traded in GBp, while JMBP.L is traded in GBP. To make them comparable, the JMBP.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with EMDG.L having a 1.60% return and JMBP.L slightly higher at 1.62%.
EMDG.L
- 1D
- 0.12%
- 1M
- 1.49%
- YTD
- 1.60%
- 6M
- 1.41%
- 1Y
- 7.92%
- 3Y*
- 5.79%
- 5Y*
- 3.95%
- 10Y*
- —
JMBP.L
- 1D
- 0.24%
- 1M
- 1.00%
- YTD
- 1.62%
- 6M
- 1.99%
- 1Y
- 10.82%
- 3Y*
- 7.54%
- 5Y*
- 0.77%
- 10Y*
- —
EMDG.L vs. JMBP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 1.60% | 2.35% | 10.43% | 1.99% | 0.28% | 0.96% | -1.56% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 1.62% | 13.12% | 1.60% | 8.37% | -17.57% | -2.86% | 1.85% |
Correlation
The correlation between EMDG.L and JMBP.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | -0.02 |
The correlation between EMDG.L and JMBP.L shifts across timeframes, from -0.13 (1 year) to -0.01 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMDG.L vs. JMBP.L — Risk / Return Rank
EMDG.L
JMBP.L
EMDG.L vs. JMBP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) and JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.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.
| EMDG.L | JMBP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.39 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 2.38 | -0.28 |
| Martin ratioReturn relative to average drawdown | 6.03 | 10.19 | -4.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMDG.L | JMBP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.99 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.09 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.11 | +0.26 |
Drawdowns
EMDG.L vs. JMBP.L - Drawdown Comparison
The maximum EMDG.L drawdown since its inception was -12.32%, smaller than the maximum JMBP.L drawdown of -27.19%. Use the drawdown chart below to compare losses from any high point for EMDG.L and JMBP.L.
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Drawdown Indicators
| EMDG.L | JMBP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.32% | -27.19% | +14.87% |
Max Drawdown (1Y)Largest decline over 1 year | -3.76% | -4.52% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -7.61% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -12.32% | -26.88% | +14.56% |
Current DrawdownCurrent decline from peak | -0.29% | -0.08% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -9.99% | +5.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.06% | +0.25% |
Volatility
EMDG.L vs. JMBP.L - Volatility Comparison
The current volatility for L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) is 1.78%, while JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) (JMBP.L) has a volatility of 1.96%. This indicates that EMDG.L experiences smaller price fluctuations and is considered to be less risky than JMBP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDG.L | JMBP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.96% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 4.53% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.44% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 8.49% | -0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.82% | 10.58% | -2.76% |
EMDG.L vs. JMBP.L - Expense Ratio Comparison
EMDG.L has a 0.25% expense ratio, which is lower than JMBP.L's 0.39% expense ratio.
Dividends
EMDG.L vs. JMBP.L - Dividend Comparison
EMDG.L's dividend yield for the trailing twelve months is around 5.33%, less than JMBP.L's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
EMDG.L L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF | 5.33% | 5.95% | 5.95% | 4.65% | 2.91% | 1.21% | 0.00% |
JMBP.L JPMorgan USD Emerging Markets Sovereign Bond UCITS ETF GBP Hedged (dist) | 5.75% | 5.61% | 5.83% | 5.24% | 5.16% | 3.70% | 4.42% |
Frequently Asked Questions
EMDG.L and JMBP.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMDG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMDG.L is cheaper with a 0.25% expense ratio, compared with 0.39% for JMBP.L.
EMDG.L tracks JPM EMBI Global Diversified TR USD, while JMBP.L tracks JP Morgan Emerging Markets Risk-Aware Bond (GBP Hedged). They also come from different issuers: Legal & General and JPMorgan. Their fees differ too: 0.25% for EMDG.L and 0.39% for JMBP.L.
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