EMGA.L vs. JPEA.L
EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) and JPEA.L (iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds from iShares - EMGA.L tracks the JPM GBI-EM Global Diversified TR USD while JPEA.L tracks the J.P. Morgan EMBI Global Core Index. Both are passively managed. Over the past 5 years, EMGA.L returned 1.03%/yr vs 1.96%/yr for JPEA.L. A 0.61 correlation means they provide meaningful diversification when combined. EMGA.L charges 0.50%/yr vs 0.45%/yr for JPEA.L.
Performance
EMGA.L vs. JPEA.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 JPEA.L's 1.83% 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*
- —
JPEA.L
- 1D
- 0.26%
- 1M
- 1.07%
- YTD
- 1.83%
- 6M
- 2.37%
- 1Y
- 11.43%
- 3Y*
- 9.82%
- 5Y*
- 1.96%
- 10Y*
- —
EMGA.L vs. JPEA.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% |
JPEA.L iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) | 1.83% | 13.77% | 5.72% | 10.89% | -18.56% | -2.19% | 5.37% | 15.91% | -0.55% |
Correlation
The correlation between EMGA.L and JPEA.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.61 |
The correlation between EMGA.L and JPEA.L has been stable across timeframes, ranging from 0.60 to 0.61 - a consistent structural relationship.
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Return for Risk
EMGA.L vs. JPEA.L — Risk / Return Rank
EMGA.L
JPEA.L
EMGA.L vs. JPEA.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 J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.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 | JPEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.39 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.57 | -1.08 |
| Martin ratioReturn relative to average drawdown | 5.01 | 11.00 | -5.98 |
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 | JPEA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.03 | -0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.22 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.29 | -0.13 |
Drawdowns
EMGA.L vs. JPEA.L - Drawdown Comparison
The maximum EMGA.L drawdown since its inception was -28.18%, roughly equal to the maximum JPEA.L drawdown of -28.64%. Use the drawdown chart below to compare losses from any high point for EMGA.L and JPEA.L.
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Drawdown Indicators
| EMGA.L | JPEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -28.64% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -4.42% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -7.35% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -26.60% | -28.64% | +2.04% |
Current DrawdownCurrent decline from peak | -2.52% | -0.06% | -2.46% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -6.80% | -2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.04% | +0.74% |
Volatility
EMGA.L vs. JPEA.L - Volatility Comparison
iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) has a higher volatility of 2.63% compared to iShares J.P. Morgan $ EM Bond UCITS ETF USD (Acc) (JPEA.L) at 1.91%. This indicates that EMGA.L's price experiences larger fluctuations and is considered to be riskier than JPEA.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 | JPEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 1.91% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 6.52% | 4.55% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 5.63% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 8.88% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.24% | 10.21% | +0.03% |
EMGA.L vs. JPEA.L - Expense Ratio Comparison
EMGA.L has a 0.50% expense ratio, which is higher than JPEA.L's 0.45% expense ratio.
Dividends
EMGA.L vs. JPEA.L - Dividend Comparison
Neither EMGA.L nor JPEA.L has paid dividends to shareholders.
Frequently Asked Questions
EMGA.L and JPEA.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, JPEA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
JPEA.L is cheaper with a 0.45% expense ratio, compared with 0.50% for EMGA.L.
EMGA.L tracks JPM GBI-EM Global Diversified TR USD, while JPEA.L tracks J.P. Morgan EMBI Global Core Index. Their fees differ too: 0.50% for EMGA.L and 0.45% for JPEA.L.
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