EMDL.L vs. EMLP.L
EMDL.L (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) are both Emerging Markets Bonds funds tracking the JPM GBI-EM Global Diversified TR USD, from State Street and PIMCO respectively. Both are passively managed. Over the past 10 years, EMDL.L returned 2.73%/yr vs 3.99%/yr for EMLP.L. Their correlation of 0.83 suggests significant overlap in exposure. EMDL.L charges 0.55%/yr vs 0.61%/yr for EMLP.L.
Performance
EMDL.L vs. EMLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMDL.L achieves a -0.66% return, which is significantly lower than EMLP.L's 1.51% return. Over the past 10 years, EMDL.L has underperformed EMLP.L with an annualized return of 2.73%, while EMLP.L has yielded a comparatively higher 3.99% annualized return.
EMDL.L
- 1D
- 0.02%
- 1M
- 0.48%
- YTD
- -0.66%
- 6M
- -0.55%
- 1Y
- 5.93%
- 3Y*
- 2.66%
- 5Y*
- 1.57%
- 10Y*
- 2.73%
EMLP.L
- 1D
- -0.16%
- 1M
- 0.73%
- YTD
- 1.51%
- 6M
- 1.14%
- 1Y
- 9.68%
- 3Y*
- 3.69%
- 5Y*
- 4.40%
- 10Y*
- 3.99%
EMDL.L vs. EMLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMDL.L SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | -0.66% | 7.85% | -1.25% | 3.50% | 0.26% | -7.31% | 0.02% | 8.55% | -0.27% | 4.06% |
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 1.51% | 9.10% | -1.68% | 7.52% | 5.55% | -4.33% | -1.55% | 9.55% | -1.46% | 2.43% |
Correlation
The correlation between EMDL.L and EMLP.L is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2013 | 0.83 |
The correlation between EMDL.L and EMLP.L shifts across timeframes, from 0.73 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMDL.L vs. EMLP.L — Risk / Return Rank
EMDL.L
EMLP.L
EMDL.L vs. EMLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (EMDL.L) and PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.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.
| EMDL.L | EMLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 2.25 | -1.04 |
| Martin ratioReturn relative to average drawdown | 3.34 | 6.49 | -3.14 |
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
| EMDL.L | EMLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 1.79 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.54 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.42 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.33 | -0.20 |
Drawdowns
EMDL.L vs. EMLP.L - Drawdown Comparison
The maximum EMDL.L drawdown since its inception was -27.54%, which is greater than EMLP.L's maximum drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for EMDL.L and EMLP.L.
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Drawdown Indicators
| EMDL.L | EMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.54% | -20.02% | -7.52% |
Max Drawdown (1Y)Largest decline over 1 year | -4.91% | -4.29% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -4.91% | -4.90% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -11.25% | +2.84% |
Max Drawdown (10Y)Largest decline over 10 years | -16.87% | -19.12% | +2.25% |
Current DrawdownCurrent decline from peak | -3.44% | -2.33% | -1.11% |
Average DrawdownAverage peak-to-trough decline | -9.41% | -6.09% | -3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 1.49% | +0.28% |
Volatility
EMDL.L vs. EMLP.L - Volatility Comparison
SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (EMDL.L) has a higher volatility of 2.00% compared to PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) at 1.50%. This indicates that EMDL.L's price experiences larger fluctuations and is considered to be riskier than EMLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMDL.L | EMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 1.50% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 4.23% | +0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 5.40% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 8.09% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 9.52% | -0.45% |
EMDL.L vs. EMLP.L - Expense Ratio Comparison
EMDL.L has a 0.55% expense ratio, which is lower than EMLP.L's 0.61% expense ratio.
Dividends
EMDL.L vs. EMLP.L - Dividend Comparison
EMDL.L's dividend yield for the trailing twelve months is around 5.09%, while EMLP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMDL.L SPDR Bloomberg Emerging Markets Local Bond UCITS ETF | 5.09% | 4.87% | 4.87% | 4.23% | 4.03% | 4.01% | 3.97% | 4.56% | 4.06% | 4.92% | 4.02% | 5.26% |
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMDL.L and EMLP.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMDL.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMDL.L is cheaper with a 0.55% expense ratio, compared with 0.61% for EMLP.L.
Both ETFs track JPM GBI-EM Global Diversified TR USD. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.55% for EMDL.L and 0.61% for EMLP.L.
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