EMES.L vs. MEDX
EMES.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and MEDX (Horizon Kinetics Medical ETF) are both exchange-traded funds - EMES.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while MEDX is a Health & Biotech Equities fund actively managed by Horizon. EMES.L is passively managed, while MEDX is actively managed. Over the past 3 years, EMES.L returned 9.03%/yr vs 6.55%/yr for MEDX. At a 0.25 correlation, their price movements are largely independent. EMES.L charges 0.45%/yr vs 0.85%/yr for MEDX.
Performance
EMES.L vs. MEDX - 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 lower than MEDX's 3.90% 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*
- —
MEDX
- 1D
- 3.04%
- 1M
- 5.53%
- YTD
- 3.90%
- 6M
- 3.58%
- 1Y
- 32.14%
- 3Y*
- 6.55%
- 5Y*
- —
- 10Y*
- —
EMES.L vs. MEDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 1.50% | 13.10% | 5.45% | 6.22% |
MEDX Horizon Kinetics Medical ETF | 3.90% | 28.62% | -4.68% | -6.22% |
Correlation
The correlation between EMES.L and MEDX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.25 |
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Return for Risk
EMES.L vs. MEDX — Risk / Return Rank
EMES.L
MEDX
EMES.L vs. MEDX - 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 Horizon Kinetics Medical ETF (MEDX). 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 | MEDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.31 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.06 | -0.69 |
| Martin ratioReturn relative to average drawdown | 9.84 | 8.51 | +1.33 |
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 | MEDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 1.78 | +0.16 |
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 | 0.32 | +0.02 |
Drawdowns
EMES.L vs. MEDX - Drawdown Comparison
The maximum EMES.L drawdown since its inception was -28.84%, which is greater than MEDX's maximum drawdown of -23.10%. Use the drawdown chart below to compare losses from any high point for EMES.L and MEDX.
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Drawdown Indicators
| EMES.L | MEDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.84% | -23.10% | -5.74% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -10.54% | +6.06% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -23.10% | +15.88% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | — | — |
Current DrawdownCurrent decline from peak | -0.35% | -2.68% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -7.85% | -6.72% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 3.79% | -2.71% |
Volatility
EMES.L vs. MEDX - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) is 2.26%, while Horizon Kinetics Medical ETF (MEDX) has a volatility of 5.68%. This indicates that EMES.L experiences smaller price fluctuations and is considered to be less risky than MEDX 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 | MEDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 5.68% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 13.41% | -8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 18.12% | -12.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.28% | 17.04% | -8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 17.04% | -7.80% |
EMES.L vs. MEDX - Expense Ratio Comparison
EMES.L has a 0.45% expense ratio, which is lower than MEDX's 0.85% expense ratio.
Dividends
EMES.L vs. MEDX - Dividend Comparison
EMES.L's dividend yield for the trailing twelve months is around 5.78%, more than MEDX's 1.19% 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% |
MEDX Horizon Kinetics Medical ETF | 1.19% | 1.23% | 1.92% | 4.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMES.L and MEDX have a correlation of 0.23, 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 0.85% for MEDX.
EMES.L is categorized as Emerging Markets Bonds, while MEDX is Health & Biotech Equities. They also come from different issuers: iShares and Horizon. Their fees differ too: 0.45% for EMES.L and 0.85% for MEDX.
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