EMGU.L vs. LDME.L
EMGU.L (iShares Core MSCI Emerging Markets IMI UCITS ETF) and LDME.L (L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - EMGU.L tracks the MSCI EM NR USD while LDME.L tracks the FTSE Emerging All Cap ex CW ex TC ex REITS Dividend Growth with Quality Index. Both are passively managed. Over the past 5 years, EMGU.L returned 7.07%/yr vs 9.58%/yr for LDME.L. Their correlation of 0.80 suggests significant overlap in exposure. EMGU.L charges 0.18%/yr vs 0.45%/yr for LDME.L.
Performance
EMGU.L vs. LDME.L - Performance Comparison
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Different Trading Currencies
EMGU.L is traded in GBP, while LDME.L is traded in GBp. To make them comparable, the LDME.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMGU.L achieves a 15.00% return, which is significantly higher than LDME.L's 10.73% return.
EMGU.L
- 1D
- -1.52%
- 1M
- -9.42%
- 6M
- 9.23%
- YTD
- 15.00%
- 1Y
- 28.57%
- 3Y*
- 17.14%
- 5Y*
- 7.07%
- 10Y*
- —
LDME.L
- 1D
- -0.96%
- 1M
- -5.18%
- 6M
- 6.28%
- YTD
- 10.73%
- 1Y
- 20.08%
- 3Y*
- 15.53%
- 5Y*
- 9.58%
- 10Y*
- —
EMGU.L vs. LDME.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 15.00% | 23.04% | 9.04% | 4.99% | -9.96% | -2.36% |
LDME.L L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) | 10.73% | 16.54% | 11.33% | 10.64% | -2.34% | 7,358.59% |
Correlation
The correlation between EMGU.L and LDME.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.80 |
The correlation between EMGU.L and LDME.L has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
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Return for Risk
EMGU.L vs. LDME.L — Risk / Return Rank
EMGU.L
LDME.L
EMGU.L vs. LDME.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) and L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) (LDME.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMGU.L | LDME.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 3.11 | -0.71 |
| Martin ratioReturn relative to average drawdown | 7.54 | 8.15 | -0.61 |
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Drawdowns
EMGU.L vs. LDME.L - Drawdown Comparison
The maximum EMGU.L drawdown since its inception was -44.79%, which is greater than LDME.L's maximum drawdown of -14.82%. Use the drawdown chart below to compare losses from any high point for EMGU.L and LDME.L.
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Drawdown Indicators
| EMGU.L | LDME.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.79% | -14.82% | -29.97% |
Max Drawdown (1Y)Largest decline over 1 year | -11.88% | -6.44% | -5.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.53% | -14.82% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -20.90% | -14.82% | -6.08% |
Current DrawdownCurrent decline from peak | -11.88% | -6.32% | -5.56% |
Average DrawdownAverage peak-to-trough decline | -17.58% | -3.25% | -14.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.78% | 2.46% | +1.32% |
Volatility
EMGU.L vs. LDME.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) has a higher volatility of 8.40% compared to L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) (LDME.L) at 3.98%. This indicates that EMGU.L's price experiences larger fluctuations and is considered to be riskier than LDME.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMGU.L | LDME.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.40% | 3.98% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 17.16% | 9.82% | +7.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.12% | 12.14% | +6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.31% | 12.65% | +3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.80% | 3,215.14% | -3,196.34% |
EMGU.L vs. LDME.L - Expense Ratio Comparison
EMGU.L has a 0.18% expense ratio, which is lower than LDME.L's 0.45% expense ratio.
Dividends
EMGU.L vs. LDME.L - Dividend Comparison
EMGU.L's dividend yield for the trailing twelve months is around 1.74%, less than LDME.L's 2.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 1.74% | 1.93% | 2.26% | 2.51% | 3.16% | 1.86% | 1.81% | 2.81% | 1.39% |
LDME.L L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) | 2.88% | 3.04% | 3.67% | 3.56% | 4.57% | 1.55% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMGU.L and LDME.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMGU.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMGU.L is cheaper with a 0.18% expense ratio, compared with 0.45% for LDME.L.
EMGU.L tracks MSCI EM NR USD, while LDME.L tracks FTSE Emerging All Cap ex CW ex TC ex REITS Dividend Growth with Quality Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.18% for EMGU.L and 0.45% for LDME.L.
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