EMDG.L vs. VEMT.L
EMDG.L (L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from Legal & General and Vanguard respectively. Both are passively managed. Over the past 5 years, EMDG.L returned 3.95%/yr vs 3.40%/yr for VEMT.L. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.25% expense ratio.
Performance
EMDG.L vs. VEMT.L - Performance Comparison
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Different Trading Currencies
EMDG.L is traded in GBp, while VEMT.L is traded in GBP. To make them comparable, the VEMT.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with EMDG.L having a 1.60% return and VEMT.L slightly lower at 1.55%.
EMDG.L
- 1D
- 0.12%
- 1M
- 1.49%
- YTD
- 1.60%
- 6M
- 1.41%
- 1Y
- 7.92%
- 3Y*
- 5.79%
- 5Y*
- 3.95%
- 10Y*
- —
VEMT.L
- 1D
- 0.03%
- 1M
- 1.60%
- YTD
- 1.55%
- 6M
- 1.13%
- 1Y
- 10.55%
- 3Y*
- 5.98%
- 5Y*
- 3.40%
- 10Y*
- —
EMDG.L vs. VEMT.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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.55% | 4.07% | 8.08% | 3.44% | -5.19% | -0.56% | -0.33% |
Correlation
The correlation between EMDG.L and VEMT.L is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.81 |
The correlation between EMDG.L and VEMT.L has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.
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Return for Risk
EMDG.L vs. VEMT.L — Risk / Return Rank
EMDG.L
VEMT.L
EMDG.L vs. VEMT.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.36 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 2.44 | -0.34 |
| Martin ratioReturn relative to average drawdown | 6.03 | 6.86 | -0.83 |
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 | VEMT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.72 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.42 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.30 | +0.06 |
Drawdowns
EMDG.L vs. VEMT.L - Drawdown Comparison
The maximum EMDG.L drawdown since its inception was -12.32%, smaller than the maximum VEMT.L drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for EMDG.L and VEMT.L.
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Drawdown Indicators
| EMDG.L | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.32% | -14.64% | +2.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.76% | -4.31% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -7.93% | -8.59% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -12.32% | -11.41% | -0.91% |
Current DrawdownCurrent decline from peak | -0.29% | -0.50% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -5.88% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 1.53% | -0.22% |
Volatility
EMDG.L vs. VEMT.L - Volatility Comparison
L&G ESG Emerging Markets Government Bond (USD) 0-5 Year UCITS ETF (EMDG.L) has a higher volatility of 1.78% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) at 1.33%. This indicates that EMDG.L's price experiences larger fluctuations and is considered to be riskier than VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.33% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 4.08% | 4.50% | -0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 6.11% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.86% | 8.13% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.82% | 9.15% | -1.33% |
EMDG.L vs. VEMT.L - Expense Ratio Comparison
Both EMDG.L and VEMT.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EMDG.L vs. VEMT.L - Dividend Comparison
EMDG.L's dividend yield for the trailing twelve months is around 5.33%, less than VEMT.L's 5.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.44% | 4.81% |
Frequently Asked Questions
EMDG.L and VEMT.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMDG.L and VEMT.L have the same expense ratio: 0.25% per year.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: Legal & General and Vanguard.
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