EMGA.L vs. VEMA.L
EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) and VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) are both Emerging Markets Bonds funds - EMGA.L tracks the JPM GBI-EM Global Diversified TR USD while VEMA.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMGA.L returned 1.03%/yr vs 2.36%/yr for VEMA.L. At a 0.39 correlation, their price movements are largely independent. EMGA.L charges 0.50%/yr vs 0.25%/yr for VEMA.L.
Performance
EMGA.L vs. VEMA.L - Performance Comparison
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Different Trading Currencies
EMGA.L is traded in USD, while VEMA.L is traded in GBP. To make them comparable, the VEMA.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 0.79% return, which is significantly lower than VEMA.L's 1.42% 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*
- —
VEMA.L
- 1D
- 0.27%
- 1M
- 1.08%
- YTD
- 1.42%
- 6M
- 2.18%
- 1Y
- 9.70%
- 3Y*
- 8.79%
- 5Y*
- 2.36%
- 10Y*
- —
EMGA.L vs. VEMA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 7.71% |
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 1.42% | 12.01% | 6.31% | 8.90% | -15.42% | -1.26% | 5.63% | 9.81% |
Correlation
The correlation between EMGA.L and VEMA.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.39 |
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Return for Risk
EMGA.L vs. VEMA.L — Risk / Return Rank
EMGA.L
VEMA.L
EMGA.L vs. VEMA.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 Accumulating (VEMA.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 | VEMA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.29 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.40 | -0.90 |
| Martin ratioReturn relative to average drawdown | 5.01 | 9.50 | -4.49 |
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 | VEMA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.19 | 1.73 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.29 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.36 | -0.20 |
Drawdowns
EMGA.L vs. VEMA.L - Drawdown Comparison
The maximum EMGA.L drawdown since its inception was -28.18%, which is greater than VEMA.L's maximum drawdown of -24.04%. Use the drawdown chart below to compare losses from any high point for EMGA.L and VEMA.L.
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Drawdown Indicators
| EMGA.L | VEMA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.18% | -24.04% | -4.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -4.02% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -9.12% | -6.33% | -2.79% |
Max Drawdown (5Y)Largest decline over 5 years | -26.60% | -24.04% | -2.56% |
Current DrawdownCurrent decline from peak | -2.52% | -0.34% | -2.18% |
Average DrawdownAverage peak-to-trough decline | -8.98% | -6.02% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 1.02% | +0.76% |
Volatility
EMGA.L vs. VEMA.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 Accumulating (VEMA.L) at 1.95%. This indicates that EMGA.L's price experiences larger fluctuations and is considered to be riskier than VEMA.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 | VEMA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.63% | 1.95% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.52% | 4.27% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.49% | 5.61% | +1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.03% | 8.09% | +0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.24% | 9.30% | +0.94% |
EMGA.L vs. VEMA.L - Expense Ratio Comparison
EMGA.L has a 0.50% expense ratio, which is higher than VEMA.L's 0.25% expense ratio.
Dividends
EMGA.L vs. VEMA.L - Dividend Comparison
Neither EMGA.L nor VEMA.L has paid dividends to shareholders.
Frequently Asked Questions
EMGA.L and VEMA.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.50% for EMGA.L.
EMGA.L tracks JPM GBI-EM Global Diversified TR USD, while VEMA.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for EMGA.L and 0.25% for VEMA.L.
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