EMDG.L vs. SEMB.L
EMDG.L (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) and SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from Legal & General and iShares respectively. Both are passively managed. Over the past 5 years, EMDG.L returned 3.95%/yr vs 4.65%/yr for SEMB.L. A 0.75 correlation means they provide meaningful diversification when combined. EMDG.L charges 0.25%/yr vs 0.45%/yr for SEMB.L.
Performance
EMDG.L vs. SEMB.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMDG.L achieves a 1.60% return, which is significantly lower than SEMB.L's 2.75% return.
EMDG.L
- 1D
- 0.12%
- 1M
- 1.49%
- YTD
- 1.60%
- 6M
- 1.41%
- 1Y
- 7.92%
- 3Y*
- 5.79%
- 5Y*
- 3.95%
- 10Y*
- —
SEMB.L
- 1D
- 0.37%
- 1M
- 2.16%
- YTD
- 2.75%
- 6M
- 2.73%
- 1Y
- 14.74%
- 3Y*
- 8.83%
- 5Y*
- 4.65%
- 10Y*
- 5.65%
EMDG.L vs. SEMB.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% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 2.75% | 8.06% | 9.19% | 6.03% | -7.53% | 0.41% | -0.15% |
Correlation
The correlation between EMDG.L and SEMB.L is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.75 |
The correlation between EMDG.L and SEMB.L has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
EMDG.L vs. SEMB.L — Risk / Return Rank
EMDG.L
SEMB.L
EMDG.L vs. SEMB.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 iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.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 | SEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.44 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 3.98 | -1.88 |
| Martin ratioReturn relative to average drawdown | 6.03 | 12.19 | -6.15 |
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 | SEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 2.46 | -1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.53 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.82 | -0.46 |
Drawdowns
EMDG.L vs. SEMB.L - Drawdown Comparison
The maximum EMDG.L drawdown since its inception was -12.32%, smaller than the maximum SEMB.L drawdown of -21.74%. Use the drawdown chart below to compare losses from any high point for EMDG.L and SEMB.L.
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Drawdown Indicators
| EMDG.L | SEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.32% | -21.74% | +9.42% |
Max Drawdown (1Y)Largest decline over 1 year | -3.76% | -3.69% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -8.69% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -12.32% | -13.70% | +1.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.43% | — |
Current DrawdownCurrent decline from peak | -0.29% | 0.00% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -4.52% | +0.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.21% | +0.10% |
Volatility
EMDG.L vs. SEMB.L - Volatility Comparison
L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) and iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) have volatilities of 1.78% and 1.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDG.L | SEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.77% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 4.41% | -0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 5.96% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 8.76% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.82% | 10.67% | -2.85% |
EMDG.L vs. SEMB.L - Expense Ratio Comparison
EMDG.L has a 0.25% expense ratio, which is lower than SEMB.L's 0.45% expense ratio.
Dividends
EMDG.L vs. SEMB.L - Dividend Comparison
EMDG.L's dividend yield for the trailing twelve months is around 5.33%, less than SEMB.L's 7.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 7.83% | 7.87% | 7.27% | 7.21% | 6.70% | 5.35% | 5.28% | 6.25% | 6.15% | 6.48% | 6.88% | 7.10% |
Frequently Asked Questions
EMDG.L and SEMB.L have a correlation of 0.77, 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 0.45% for SEMB.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: Legal & General and iShares. Their fees differ too: 0.25% for EMDG.L and 0.45% for SEMB.L.
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