EMHG.L vs. VEMT.L
EMHG.L (iShares J.P. Morgan $ EM Bond UCITS ETF GBP Hedged (Dist)) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - EMHG.L tracks the J.P. Morgan Emerging Markets Bond Index Global Diversified Core while VEMT.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMHG.L returned 0.93%/yr vs 2.58%/yr for VEMT.L. At a 0.35 correlation, their price movements are largely independent. EMHG.L charges 0.50%/yr vs 0.25%/yr for VEMT.L.
Performance
EMHG.L vs. VEMT.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMHG.L achieves a 1.82% return, which is significantly higher than VEMT.L's 1.12% return.
EMHG.L
- 1D
- 0.30%
- 1M
- -0.56%
- 6M
- 2.08%
- YTD
- 1.82%
- 1Y
- 9.87%
- 3Y*
- 8.37%
- 5Y*
- 0.93%
- 10Y*
- —
VEMT.L
- 1D
- -0.92%
- 1M
- -0.96%
- 6M
- 1.21%
- YTD
- 1.12%
- 1Y
- 7.62%
- 3Y*
- 7.00%
- 5Y*
- 2.58%
- 10Y*
- —
EMHG.L vs. VEMT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMHG.L iShares J.P. Morgan $ EM Bond UCITS ETF GBP Hedged (Dist) | 1.82% | 13.40% | 5.31% | 8.97% | -19.93% | -2.50% | 3.49% | 13.78% | -3.63% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.12% | 4.08% | 8.08% | 3.45% | -5.21% | -0.56% | 2.53% | 9.68% | 9.12% |
Correlation
The correlation between EMHG.L and VEMT.L is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.35 |
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Return for Risk
EMHG.L vs. VEMT.L — Risk / Return Rank
EMHG.L
VEMT.L
EMHG.L vs. VEMT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan $ EM Bond UCITS ETF GBP Hedged (Dist) (EMHG.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.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.
| EMHG.L | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.21 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 1.75 | +0.53 |
| Martin ratioReturn relative to average drawdown | 9.28 | 4.76 | +4.52 |
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Drawdowns
EMHG.L vs. VEMT.L - Drawdown Comparison
The maximum EMHG.L drawdown since its inception was -29.64%, which is greater than VEMT.L's maximum drawdown of -14.62%. Use the drawdown chart below to compare losses from any high point for EMHG.L and VEMT.L.
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Drawdown Indicators
| EMHG.L | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.64% | -14.62% | -15.02% |
Max Drawdown (1Y)Largest decline over 1 year | -4.44% | -4.33% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -7.62% | -8.60% | +0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -29.64% | -11.41% | -18.23% |
Current DrawdownCurrent decline from peak | -0.56% | -2.94% | +2.38% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -5.81% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.09% | 1.60% | -0.51% |
Volatility
EMHG.L vs. VEMT.L - Volatility Comparison
The current volatility for iShares J.P. Morgan $ EM Bond UCITS ETF GBP Hedged (Dist) (EMHG.L) is 1.37%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) has a volatility of 2.25%. This indicates that EMHG.L experiences smaller price fluctuations and is considered to be less risky than VEMT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHG.L | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.37% | 2.25% | -0.88% |
Volatility (6M)Calculated over the trailing 6-month period | 4.88% | 4.81% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 6.40% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.00% | 8.13% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.02% | 9.12% | +0.90% |
EMHG.L vs. VEMT.L - Expense Ratio Comparison
EMHG.L has a 0.50% expense ratio, which is higher than VEMT.L's 0.25% expense ratio.
Dividends
EMHG.L vs. VEMT.L - Dividend Comparison
EMHG.L's dividend yield for the trailing twelve months is around 6.17%, more than VEMT.L's 5.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMHG.L iShares J.P. Morgan $ EM Bond UCITS ETF GBP Hedged (Dist) | 6.17% | 5.71% | 5.74% | 5.61% | 5.64% | 3.93% | 3.85% | 4.73% | 3.64% | 0.00% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.96% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.45% | 4.81% |
Frequently Asked Questions
EMHG.L and VEMT.L have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMT.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMT.L is cheaper with a 0.25% expense ratio, compared with 0.50% for EMHG.L.
EMHG.L tracks J.P. Morgan Emerging Markets Bond Index Global Diversified Core, while VEMT.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.50% for EMHG.L and 0.25% for VEMT.L.
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