EMES.L vs. EUAD
EMES.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and EUAD (Select STOXX Europe Aerospace & Defense ETF) are both exchange-traded funds - EMES.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while EUAD is a Aerospace & Defense fund tracking the STOXX Europe Total Market Aerospace & Defense Index. Both are passively managed. Over the past year, EMES.L returned 10.68% vs -1.79% for EUAD. At a 0.22 correlation, their price movements are largely independent. EMES.L charges 0.45%/yr vs 0.50%/yr for EUAD.
Performance
EMES.L vs. EUAD - Performance Comparison
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Returns By Period
In the year-to-date period, EMES.L achieves a 1.50% return, which is significantly higher than EUAD's -3.42% return.
EMES.L
- 1D
- 0.06%
- 1M
- 1.02%
- YTD
- 1.50%
- 6M
- 2.10%
- 1Y
- 10.68%
- 3Y*
- 9.03%
- 5Y*
- 1.35%
- 10Y*
- —
EUAD
- 1D
- 2.11%
- 1M
- -1.05%
- YTD
- -3.42%
- 6M
- 0.23%
- 1Y
- -1.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMES.L vs. EUAD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 1.50% | 13.10% | -0.32% |
EUAD Select STOXX Europe Aerospace & Defense ETF | -3.42% | 74.51% | -3.62% |
Correlation
The correlation between EMES.L and EUAD is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024 | 0.22 |
The correlation between EMES.L and EUAD shifts across timeframes, from 0.22 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMES.L vs. EUAD — Risk / Return Rank
EMES.L
EUAD
EMES.L vs. EUAD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) and Select STOXX Europe Aerospace & Defense ETF (EUAD). 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.
| EMES.L | EUAD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.81 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.01 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | -0.08 | +2.46 |
| Martin ratioReturn relative to average drawdown | 9.84 | -0.20 | +10.04 |
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
| EMES.L | EUAD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | -0.06 | +2.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 1.19 | -0.84 |
Drawdowns
EMES.L vs. EUAD - Drawdown Comparison
The maximum EMES.L drawdown since its inception was -28.84%, which is greater than EUAD's maximum drawdown of -22.04%. Use the drawdown chart below to compare losses from any high point for EMES.L and EUAD.
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Drawdown Indicators
| EMES.L | EUAD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.84% | -22.04% | -6.80% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -22.04% | +17.56% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -15.72% | +15.37% |
Average DrawdownAverage peak-to-trough decline | -7.85% | -5.65% | -2.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 9.04% | -7.96% |
Volatility
EMES.L vs. EUAD - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) is 2.26%, while Select STOXX Europe Aerospace & Defense ETF (EUAD) has a volatility of 11.34%. This indicates that EMES.L experiences smaller price fluctuations and is considered to be less risky than EUAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMES.L | EUAD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 11.34% | -9.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 24.28% | -19.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 29.20% | -23.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.28% | 29.85% | -21.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 29.85% | -20.61% |
EMES.L vs. EUAD - Expense Ratio Comparison
EMES.L has a 0.45% expense ratio, which is lower than EUAD's 0.50% expense ratio.
Dividends
EMES.L vs. EUAD - Dividend Comparison
EMES.L's dividend yield for the trailing twelve months is around 5.78%, more than EUAD's 0.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 5.78% | 5.78% | 5.45% | 5.41% | 5.03% | 3.48% | 3.49% | 4.60% | 0.50% |
EUAD Select STOXX Europe Aerospace & Defense ETF | 0.41% | 0.40% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMES.L and EUAD have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMES.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMES.L is cheaper with a 0.45% expense ratio, compared with 0.50% for EUAD.
EMES.L is categorized as Emerging Markets Bonds, while EUAD is Aerospace & Defense. EMES.L tracks JPM EMBI Global Diversified TR USD, while EUAD tracks STOXX Europe Total Market Aerospace & Defense Index. They also come from different issuers: iShares and Select Funds. Their fees differ too: 0.45% for EMES.L and 0.50% for EUAD.
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