EMGA.L vs. IWDA.L
EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) and IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EMGA.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while IWDA.L is a Global Equities fund tracking the MSCI World Index (Net). Both are passively managed. Over the past 5 years, EMGA.L returned 1.03%/yr vs 11.86%/yr for IWDA.L. A 0.54 correlation means they provide meaningful diversification when combined. EMGA.L charges 0.50%/yr vs 0.20%/yr for IWDA.L.
Performance
EMGA.L vs. IWDA.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMGA.L achieves a 0.79% return, which is significantly lower than IWDA.L's 9.83% return.
EMGA.L
- 1D
- -0.12%
- 1M
- 0.75%
- YTD
- 0.79%
- 6M
- 1.63%
- 1Y
- 8.91%
- 3Y*
- 7.03%
- 5Y*
- 1.03%
- 10Y*
- —
IWDA.L
- 1D
- 0.10%
- 1M
- 4.07%
- YTD
- 9.83%
- 6M
- 10.98%
- 1Y
- 25.98%
- 3Y*
- 20.77%
- 5Y*
- 11.86%
- 10Y*
- 13.07%
EMGA.L vs. IWDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) | 0.79% | 18.25% | -2.74% | 11.65% | -10.95% | -10.50% | 1.84% | 11.71% | -2.92% |
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 9.83% | 21.03% | 19.11% | 24.27% | -18.11% | 22.19% | 16.06% | 27.13% | -10.12% |
Correlation
The correlation between EMGA.L and IWDA.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.54 |
The correlation between EMGA.L and IWDA.L shifts across timeframes, from 0.51 (3 years) to 0.62 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMGA.L vs. IWDA.L — Risk / Return Rank
EMGA.L
IWDA.L
EMGA.L vs. IWDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) and iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.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.
| EMGA.L | IWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.98 | ||
| Sortino ratioReturn per unit of downside risk | -1.48 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.40 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 3.11 | -1.62 |
| Martin ratioReturn relative to average drawdown | 5.01 | 13.16 | -8.15 |
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
| EMGA.L | IWDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.17 | -0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.76 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.79 | -0.63 |
Drawdowns
EMGA.L vs. IWDA.L - Drawdown Comparison
The maximum EMGA.L drawdown since its inception was -28.18%, smaller than the maximum IWDA.L drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for EMGA.L and IWDA.L.
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Drawdown Indicators
| EMGA.L | IWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -34.11% | +5.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -8.31% | +2.38% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -16.94% | +7.82% |
Max Drawdown (5Y)Largest decline over 5 years | -26.60% | -25.88% | -0.72% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.11% | — |
Current DrawdownCurrent decline from peak | -2.52% | -0.43% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -4.44% | -4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.97% | -0.19% |
Volatility
EMGA.L vs. IWDA.L - Volatility Comparison
The current volatility for iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) is 2.63%, while iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) has a volatility of 3.40%. This indicates that EMGA.L experiences smaller price fluctuations and is considered to be less risky than IWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMGA.L | IWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 3.40% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 6.52% | 9.19% | -2.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 11.93% | -4.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 15.68% | -6.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.24% | 15.91% | -5.67% |
EMGA.L vs. IWDA.L - Expense Ratio Comparison
EMGA.L has a 0.50% expense ratio, which is higher than IWDA.L's 0.20% expense ratio.
Dividends
EMGA.L vs. IWDA.L - Dividend Comparison
Neither EMGA.L nor IWDA.L has paid dividends to shareholders.
Frequently Asked Questions
EMGA.L and IWDA.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWDA.L is cheaper with a 0.20% expense ratio, compared with 0.50% for EMGA.L.
EMGA.L is categorized as Emerging Markets Bonds, while IWDA.L is Global Equities. EMGA.L tracks JPM GBI-EM Global Diversified TR USD, while IWDA.L tracks MSCI World Index (Net). Their fees differ too: 0.50% for EMGA.L and 0.20% for IWDA.L.
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