EMDL.L vs. SPY5.L
EMDL.L (SPDR Bloomberg Emerging Markets Local Bond UCITS ETF) and SPY5.L (State Street SPDR S&P 500 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 SPY5.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past 10 years, EMDL.L returned 2.73%/yr vs 16.22%/yr for SPY5.L. At a 0.38 correlation, their price movements are largely independent. EMDL.L charges 0.55%/yr vs 0.09%/yr for SPY5.L.
Performance
EMDL.L vs. SPY5.L - Performance Comparison
Loading charts...
Different Trading Currencies
EMDL.L is traded in GBP, while SPY5.L is traded in USD. To make them comparable, the SPY5.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 SPY5.L's 10.76% return. Over the past 10 years, EMDL.L has underperformed SPY5.L with an annualized return of 2.73%, while SPY5.L has yielded a comparatively higher 16.22% 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%
SPY5.L
- 1D
- 0.01%
- 1M
- 5.45%
- YTD
- 10.76%
- 6M
- 10.39%
- 1Y
- 29.07%
- 3Y*
- 19.09%
- 5Y*
- 14.94%
- 10Y*
- 16.22%
EMDL.L vs. SPY5.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% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 10.76% | 9.06% | 27.55% | 20.31% | -9.02% | 30.50% | 14.06% | 25.87% | 0.54% | 11.98% |
Correlation
The correlation between EMDL.L and SPY5.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
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 Mar 27, 2012 | 0.38 |
The correlation between EMDL.L and SPY5.L shifts across timeframes, from 0.23 (5 years) to 0.41 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMDL.L vs. SPY5.L — Risk / Return Rank
EMDL.L
SPY5.L
EMDL.L vs. SPY5.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 State Street SPDR S&P 500 UCITS ETF (SPY5.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 | SPY5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.36 | ||
| Sortino ratioReturn per unit of downside risk | -1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.45 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.20 | 4.02 | -2.82 |
| Martin ratioReturn relative to average drawdown | 3.34 | 13.69 | -10.35 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMDL.L | SPY5.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.08 | 2.45 | -1.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.22 | 0.97 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.98 | -0.68 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 1.01 | -0.88 |
Drawdowns
EMDL.L vs. SPY5.L - Drawdown Comparison
The maximum EMDL.L drawdown since its inception was -27.54%, which is greater than SPY5.L's maximum drawdown of -25.97%. Use the drawdown chart below to compare losses from any high point for EMDL.L and SPY5.L.
Loading charts...
Drawdown Indicators
| EMDL.L | SPY5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.54% | -25.97% | -1.57% |
Max Drawdown (1Y)Largest decline over 1 year | -4.91% | -7.19% | +2.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.91% | -21.10% | +16.19% |
Max Drawdown (5Y)Largest decline over 5 years | -8.41% | -21.10% | +12.69% |
Max Drawdown (10Y)Largest decline over 10 years | -16.87% | -25.97% | +9.10% |
Current DrawdownCurrent decline from peak | -3.44% | -0.19% | -3.25% |
Average DrawdownAverage peak-to-trough decline | -9.41% | -3.27% | -6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.77% | 2.12% | -0.35% |
Volatility
EMDL.L vs. SPY5.L - Volatility Comparison
The current volatility for SPDR Bloomberg Emerging Markets Local Bond UCITS ETF (EMDL.L) is 2.00%, while State Street SPDR S&P 500 UCITS ETF (SPY5.L) has a volatility of 3.42%. This indicates that EMDL.L experiences smaller price fluctuations and is considered to be less risky than SPY5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMDL.L | SPY5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 3.42% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.52% | 8.52% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.45% | 11.82% | -6.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.22% | 15.35% | -8.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 16.47% | -7.40% |
EMDL.L vs. SPY5.L - Expense Ratio Comparison
EMDL.L has a 0.55% expense ratio, which is higher than SPY5.L's 0.09% expense ratio.
Dividends
EMDL.L vs. SPY5.L - Dividend Comparison
EMDL.L's dividend yield for the trailing twelve months is around 5.09%, more than SPY5.L's 0.89% yield.
| 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% |
SPY5.L State Street SPDR S&P 500 UCITS ETF | 0.89% | 0.97% | 1.06% | 1.19% | 1.40% | 0.99% | 1.28% | 1.71% | 2.20% | 2.29% | 1.64% | 1.73% |
Frequently Asked Questions
EMDL.L and SPY5.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPY5.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPY5.L is cheaper with a 0.09% expense ratio, compared with 0.55% for EMDL.L.
EMDL.L is categorized as Emerging Markets Bonds, while SPY5.L is S&P 500. EMDL.L tracks JPM GBI-EM Global Diversified TR USD, while SPY5.L tracks S&P 500. Their fees differ too: 0.55% for EMDL.L and 0.09% for SPY5.L.
Find the right allocation for EMDL.L and SPY5.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer