EMGA.L vs. VDET.L
EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) and VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - EMGA.L tracks the JPM GBI-EM Global Diversified TR USD while VDET.L tracks the Bloomberg EM USD Sovereign + Quasi-Sov Index. Both are passively managed. Over the past 5 years, EMGA.L returned 1.03%/yr vs 2.30%/yr for VDET.L. A 0.59 correlation means they provide meaningful diversification when combined. EMGA.L charges 0.50%/yr vs 0.23%/yr for VDET.L.
Performance
EMGA.L vs. VDET.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 VDET.L's 1.31% 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*
- —
VDET.L
- 1D
- -0.02%
- 1M
- 0.71%
- YTD
- 1.31%
- 6M
- 1.85%
- 1Y
- 9.46%
- 3Y*
- 8.79%
- 5Y*
- 2.30%
- 10Y*
- —
EMGA.L vs. VDET.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% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.31% | 11.70% | 6.40% | 9.41% | -15.27% | -1.76% | 6.08% | 13.11% | 0.78% |
Correlation
The correlation between EMGA.L and VDET.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 | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.59 |
The correlation between EMGA.L and VDET.L has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.
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Return for Risk
EMGA.L vs. VDET.L — Risk / Return Rank
EMGA.L
VDET.L
EMGA.L vs. VDET.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.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 | VDET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.82 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.65 | -1.15 |
| Martin ratioReturn relative to average drawdown | 5.01 | 10.75 | -5.74 |
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 | VDET.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 2.00 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.32 | -0.21 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.45 | -0.29 |
Drawdowns
EMGA.L vs. VDET.L - Drawdown Comparison
The maximum EMGA.L drawdown since its inception was -28.18%, which is greater than VDET.L's maximum drawdown of -24.09%. Use the drawdown chart below to compare losses from any high point for EMGA.L and VDET.L.
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Drawdown Indicators
| EMGA.L | VDET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -24.09% | -4.09% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -3.56% | -2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -6.04% | -3.08% |
Max Drawdown (5Y)Largest decline over 5 years | -26.60% | -24.09% | -2.51% |
Current DrawdownCurrent decline from peak | -2.52% | -0.22% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -4.96% | -4.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 0.88% | +0.90% |
Volatility
EMGA.L vs. VDET.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) at 1.79%. This indicates that EMGA.L's price experiences larger fluctuations and is considered to be riskier than VDET.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 | VDET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 1.79% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 6.52% | 3.72% | +2.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 4.72% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 7.17% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.24% | 7.70% | +2.54% |
EMGA.L vs. VDET.L - Expense Ratio Comparison
EMGA.L has a 0.50% expense ratio, which is higher than VDET.L's 0.23% expense ratio.
Dividends
EMGA.L vs. VDET.L - Dividend Comparison
EMGA.L has not paid dividends to shareholders, while VDET.L's dividend yield for the trailing twelve months is around 5.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.91% | 6.03% | 5.84% | 5.44% | 5.01% | 3.89% | 4.19% | 4.32% | 4.61% | 4.59% |
Frequently Asked Questions
EMGA.L and VDET.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, VDET.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDET.L is cheaper with a 0.23% expense ratio, compared with 0.50% for EMGA.L.
EMGA.L tracks JPM GBI-EM Global Diversified TR USD, while VDET.L tracks Bloomberg EM USD Sovereign + Quasi-Sov Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for EMGA.L and 0.23% for VDET.L.
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