EMGA.L vs. SEML.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) and iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L).

EMGA.L and SEML.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMGA.L is a passively managed fund by iShares that tracks the performance of the JPM GBI-EM Global Diversified TR USD. It was launched on May 31, 2018. SEML.L is a passively managed fund by iShares that tracks the performance of the JPM GBI-EM Global Diversified TR USD. It was launched on Jun 20, 2011. Both EMGA.L and SEML.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMGA.L vs. SEML.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) and iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L). The values are adjusted to include any dividend payments, if applicable.

EMGA.L vs. SEML.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)	-1.34%	18.25%	-2.74%	11.65%	-10.95%	-10.50%	1.84%	11.71%	-2.92%
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF	-4.00%	12.19%	-7.96%	5.52%	-15.44%	-13.96%	-3.39%	6.70%	-6.54%

Different Trading Currencies

EMGA.L is traded in USD, while SEML.L is traded in GBP. To make them comparable, the SEML.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMGA.L achieves a -1.34% return, which is significantly higher than SEML.L's -4.00% return.

EMGA.L

• 1D: 1.33%
• 1M: -3.13%
• YTD: -1.34%
• 6M: 1.68%
• 1Y: 12.32%
• 3Y*: 6.59%
• 5Y*: 1.65%
• 10Y*: —

SEML.L

• 1D: 0.95%
• 1M: -3.03%
• YTD: -4.00%
• 6M: -1.07%
• 1Y: 6.46%
• 3Y*: 1.05%
• 5Y*: -3.55%
• 10Y*: -3.36%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMGA.L vs. SEML.L - Expense Ratio Comparison

Both EMGA.L and SEML.L have an expense ratio of 0.50%.

EMGA.L

iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)

SEML.L

iShares J.P. Morgan EM Local Government Bond UCITS ETF

Return for Risk

EMGA.L vs. SEML.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMGA.L

EMGA.L Risk / Return Rank: 79
EMGA.L Sharpe Ratio Rank: 82
EMGA.L Sortino Ratio Rank: 84
EMGA.L Omega Ratio Rank: 82
EMGA.L Calmar Ratio Rank: 71
EMGA.L Martin Ratio Rank: 73

SEML.L

SEML.L Risk / Return Rank: 25
SEML.L Sharpe Ratio Rank: 26
SEML.L Sortino Ratio Rank: 22
SEML.L Omega Ratio Rank: 24
SEML.L Calmar Ratio Rank: 28
SEML.L Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMGA.L vs. SEML.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 Local Government Bond UCITS ETF (SEML.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	SEML.L	Difference
Sharpe ratio Return per unit of total volatility	1.68	0.71	+0.96
Sortino ratio Return per unit of downside risk	2.34	0.97	+1.37
Omega ratio Gain probability vs. loss probability	1.34	1.14	+0.19
Calmar ratio Return relative to maximum drawdown	2.07	0.99	+1.08
Martin ratio Return relative to average drawdown	8.56	3.41	+5.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMGA.L vs. SEML.L - Sharpe Ratio Comparison

The current EMGA.L Sharpe Ratio is 1.68, which is higher than the SEML.L Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of EMGA.L and SEML.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMGA.L	SEML.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	0.71	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	-0.35	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.31	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	-0.35	+0.49

Correlation

The correlation between EMGA.L and SEML.L is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EMGA.L vs. SEML.L - Dividend Comparison

EMGA.L has not paid dividends to shareholders, while SEML.L's dividend yield for the trailing twelve months is around 0.03%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF	0.03%	0.05%	0.06%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.03%

Drawdowns

EMGA.L vs. SEML.L - Drawdown Comparison

The maximum EMGA.L drawdown since its inception was -28.18%, smaller than the maximum SEML.L drawdown of -75.25%. Use the drawdown chart below to compare losses from any high point for EMGA.L and SEML.L.

Drawdown Indicators

	EMGA.L	SEML.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.18%	-66.68%	+38.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.93%	-5.20%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-26.60%	-20.11%	-6.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.61%	—
Current Drawdown Current decline from peak	-4.59%	-64.96%	+60.37%
Average Drawdown Average peak-to-trough decline	-9.12%	-54.29%	+45.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.76%	-0.32%

Volatility

EMGA.L vs. SEML.L - Volatility Comparison

iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) and iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) have volatilities of 3.84% and 3.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMGA.L	SEML.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	3.91%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	5.33%	6.35%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	7.31%	9.02%	-1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.92%	10.13%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.24%	10.77%	-0.53%