EMDL.L vs. MXUS.L
EMDL.L (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and MXUS.L (Invesco MSCI USA UCITS ETF) are both exchange-traded funds - EMDL.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while MXUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 10 years, EMDL.L returned 2.73%/yr vs 16.19%/yr for MXUS.L. At a 0.37 correlation, their price movements are largely independent. EMDL.L charges 0.55%/yr vs 0.05%/yr for MXUS.L.
Performance
EMDL.L vs. MXUS.L - Performance Comparison
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Different Trading Currencies
EMDL.L is traded in GBP, while MXUS.L is traded in USD. To make them comparable, the MXUS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMDL.L achieves a -0.66% return, which is significantly lower than MXUS.L's 10.76% return. Over the past 10 years, EMDL.L has underperformed MXUS.L with an annualized return of 2.73%, while MXUS.L has yielded a comparatively higher 16.19% 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%
MXUS.L
- 1D
- 0.02%
- 1M
- 5.55%
- YTD
- 10.76%
- 6M
- 10.22%
- 1Y
- 28.98%
- 3Y*
- 19.40%
- 5Y*
- 14.80%
- 10Y*
- 16.19%
EMDL.L vs. MXUS.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% |
MXUS.L Invesco MSCI USA UCITS ETF | 10.76% | 8.98% | 27.76% | 21.45% | -10.52% | 29.11% | 17.43% | 26.02% | 0.17% | 10.92% |
Correlation
The correlation between EMDL.L and MXUS.L is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2011 | 0.37 |
The correlation between EMDL.L and MXUS.L shifts across timeframes, from 0.23 (5 years) to 0.39 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMDL.L vs. MXUS.L — Risk / Return Rank
EMDL.L
MXUS.L
EMDL.L vs. MXUS.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 Invesco MSCI USA UCITS ETF (MXUS.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 | MXUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.45 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 3.80 | -2.60 |
| Martin ratioReturn relative to average drawdown | 3.34 | 12.47 | -9.12 |
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 | MXUS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 2.42 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.95 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.97 | -0.67 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 1.02 | -0.90 |
Drawdowns
EMDL.L vs. MXUS.L - Drawdown Comparison
The maximum EMDL.L drawdown since its inception was -27.54%, roughly equal to the maximum MXUS.L drawdown of -26.52%. Use the drawdown chart below to compare losses from any high point for EMDL.L and MXUS.L.
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Drawdown Indicators
| EMDL.L | MXUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.54% | -26.52% | -1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -4.91% | -7.59% | +2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -4.91% | -21.41% | +16.50% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -21.41% | +13.00% |
Max Drawdown (10Y)Largest decline over 10 years | -16.87% | -26.52% | +9.65% |
Current DrawdownCurrent decline from peak | -3.44% | -0.09% | -3.35% |
Average DrawdownAverage peak-to-trough decline | -9.41% | -3.30% | -6.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.32% | -0.55% |
Volatility
EMDL.L vs. MXUS.L - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (EMDL.L) is 2.00%, while Invesco MSCI USA UCITS ETF (MXUS.L) has a volatility of 3.47%. This indicates that EMDL.L experiences smaller price fluctuations and is considered to be less risky than MXUS.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 | MXUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 3.47% | -1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 8.61% | -4.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 11.90% | -6.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 15.66% | -8.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 16.66% | -7.59% |
EMDL.L vs. MXUS.L - Expense Ratio Comparison
EMDL.L has a 0.55% expense ratio, which is higher than MXUS.L's 0.05% expense ratio.
Dividends
EMDL.L vs. MXUS.L - Dividend Comparison
EMDL.L's dividend yield for the trailing twelve months is around 5.09%, while MXUS.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% |
MXUS.L Invesco MSCI USA UCITS ETF | 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 MXUS.L have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MXUS.L is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MXUS.L is cheaper with a 0.05% expense ratio, compared with 0.55% for EMDL.L.
EMDL.L is categorized as Emerging Markets Bonds, while MXUS.L is Large Cap Blend Equities. EMDL.L tracks JPM GBI-EM Global Diversified TR USD, while MXUS.L tracks Russell 1000 TR USD. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.55% for EMDL.L and 0.05% for MXUS.L.
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