EMGB.L vs. VDET.L
EMGB.L (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF) and VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - EMGB.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, EMGB.L returned 2.27%/yr vs 3.41%/yr for VDET.L. A 0.57 correlation means they provide meaningful diversification when combined. EMGB.L charges 0.30%/yr vs 0.23%/yr for VDET.L.
Performance
EMGB.L vs. VDET.L - Performance Comparison
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Different Trading Currencies
EMGB.L is traded in GBP, while VDET.L is traded in USD. To make them comparable, the VDET.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMGB.L achieves a 1.24% return, which is significantly lower than VDET.L's 1.72% return.
EMGB.L
- 1D
- 0.03%
- 1M
- 0.86%
- YTD
- 1.24%
- 6M
- 1.38%
- 1Y
- 10.23%
- 3Y*
- 4.11%
- 5Y*
- 2.27%
- 10Y*
- —
VDET.L
- 1D
- -0.02%
- 1M
- 1.64%
- YTD
- 1.72%
- 6M
- 1.15%
- 1Y
- 10.52%
- 3Y*
- 6.06%
- 5Y*
- 3.41%
- 10Y*
- —
EMGB.L vs. VDET.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMGB.L VanEck J.P. Morgan EM Local Currency Bond UCITS ETF | 1.24% | 10.22% | -0.96% | 4.28% | 0.69% | -8.70% | -0.78% | 6.10% | -3.13% | -3.39% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.69% | 3.74% | 8.26% | 3.94% | -5.20% | -0.83% | 2.96% | 8.80% | 3.03% | -3.83% |
Correlation
The correlation between EMGB.L and VDET.L is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017 | 0.57 |
The correlation between EMGB.L and VDET.L has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
EMGB.L vs. VDET.L — Risk / Return Rank
EMGB.L
VDET.L
EMGB.L vs. VDET.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EMGB.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.
| EMGB.L | VDET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.17 | -0.01 |
| Martin ratioReturn relative to average drawdown | 6.23 | 6.52 | -0.29 |
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
| EMGB.L | VDET.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 1.57 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.39 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.29 | -0.23 |
Drawdowns
EMGB.L vs. VDET.L - Drawdown Comparison
The maximum EMGB.L drawdown since its inception was -20.56%, which is greater than VDET.L's maximum drawdown of -15.18%. Use the drawdown chart below to compare losses from any high point for EMGB.L and VDET.L.
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Drawdown Indicators
| EMGB.L | VDET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.56% | -15.18% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -4.68% | -4.83% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -4.68% | -8.51% | +3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -9.57% | -11.60% | +2.03% |
Current DrawdownCurrent decline from peak | -2.87% | -0.51% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -10.65% | -6.11% | -4.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 1.61% | +0.02% |
Volatility
EMGB.L vs. VDET.L - Volatility Comparison
The current volatility for VanEck J.P. Morgan EM Local Currency Bond UCITS ETF (EMGB.L) is 1.63%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) has a volatility of 1.97%. This indicates that EMGB.L experiences smaller price fluctuations and is considered to be less risky 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
| EMGB.L | VDET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 1.97% | -0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 4.10% | 5.28% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.17% | 6.69% | -1.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.87% | 8.68% | -1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.33% | 9.74% | -1.41% |
EMGB.L vs. VDET.L - Expense Ratio Comparison
EMGB.L has a 0.30% expense ratio, which is higher than VDET.L's 0.23% expense ratio.
Dividends
EMGB.L vs. VDET.L - Dividend Comparison
EMGB.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 |
|---|---|---|---|---|---|---|---|---|---|---|
EMGB.L VanEck J.P. Morgan EM Local Currency Bond UCITS ETF | 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
EMGB.L and VDET.L have a correlation of 0.51, 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 0.30% for EMGB.L.
EMGB.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: VanEck and Vanguard. Their fees differ too: 0.30% for EMGB.L and 0.23% for VDET.L.
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