EMIG.L vs. VEMA.L

Last updated Jun 5, 2026

EMIG.L (UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc) and VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from UBS and Vanguard respectively. Both are passively managed. Over the past 5 years, EMIG.L returned 0.89%/yr vs 3.45%/yr for VEMA.L. Their correlation of 0.89 suggests significant overlap in exposure. EMIG.L charges 0.45%/yr vs 0.25%/yr for VEMA.L.

Performance

EMIG.L vs. VEMA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EMIG.L is traded in GBp, while VEMA.L is traded in GBP. To make them comparable, the VEMA.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMIG.L achieves a 0.13% return, which is significantly lower than VEMA.L's 1.66% return.

EMIG.L

• 1D: -0.09%
• 1M: 1.05%
• YTD: 0.13%
• 6M: -0.29%
• 1Y: 7.08%
• 3Y*: 2.15%
• 5Y*: 0.89%
• 10Y*: —

VEMA.L

• 1D: 0.22%
• 1M: 1.94%
• YTD: 1.66%
• 6M: 1.43%
• 1Y: 10.75%
• 3Y*: 6.06%
• 5Y*: 3.45%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMIG.L vs. VEMA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMIG.L UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc	0.13%	1.96%	3.34%	0.56%	-7.44%	-0.84%	5.09%	-5.65%
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating	1.66%	4.15%	8.11%	3.45%	-5.29%	-0.35%	2.49%	-6.75%

Correlation

The correlation between EMIG.L and VEMA.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019	0.89

The correlation between EMIG.L and VEMA.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

EMIG.L vs. VEMA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMIG.L

EMIG.L Risk / Return Rank: 31
EMIG.L Sharpe Ratio Rank: 35
EMIG.L Sortino Ratio Rank: 36
EMIG.L Omega Ratio Rank: 32
EMIG.L Calmar Ratio Rank: 29
EMIG.L Martin Ratio Rank: 25

VEMA.L

VEMA.L Risk / Return Rank: 52
VEMA.L Sharpe Ratio Rank: 55
VEMA.L Sortino Ratio Rank: 59
VEMA.L Omega Ratio Rank: 54
VEMA.L Calmar Ratio Rank: 50
VEMA.L Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMIG.L vs. VEMA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.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.

	EMIG.L	VEMA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.83	-0.61
Sortino ratio: Return per unit of downside risk	1.83	2.76	-0.94
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.11
Calmar ratio: Return relative to maximum drawdown	1.40	2.44	-1.04
Martin ratio: Return relative to average drawdown	3.30	6.67	-3.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMIG.L vs. VEMA.L - Sharpe Ratio Comparison

The current EMIG.L Sharpe Ratio is 1.22, which is lower than the VEMA.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of EMIG.L and VEMA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMIG.L	VEMA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.83	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.42	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	-0.05	0.31	-0.37

Drawdowns

EMIG.L vs. VEMA.L - Drawdown Comparison

The maximum EMIG.L drawdown since its inception was -17.02%, which is greater than VEMA.L's maximum drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for EMIG.L and VEMA.L.

Drawdown Indicators

	EMIG.L	VEMA.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.02%	-14.59%	-2.43%
Max Drawdown (1Y) Largest decline over 1 year	-5.03%	-4.39%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-8.09%	-8.38%	+0.29%
Max Drawdown (5Y) Largest decline over 5 years	-14.52%	-11.41%	-3.11%
Current Drawdown Current decline from peak	-7.24%	-0.45%	-6.79%
Average Drawdown Average peak-to-trough decline	-9.25%	-6.28%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	1.61%	+0.53%

Volatility

EMIG.L vs. VEMA.L - Volatility Comparison

UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) have volatilities of 1.49% and 1.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMIG.L	VEMA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	1.47%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	4.07%	+0.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.82%	5.85%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.28%	8.14%	+0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.47%	9.49%	-0.02%

EMIG.L vs. VEMA.L - Expense Ratio Comparison

EMIG.L has a 0.45% expense ratio, which is higher than VEMA.L's 0.25% expense ratio.

Dividends

EMIG.L vs. VEMA.L - Dividend Comparison

Neither EMIG.L nor VEMA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMIG.L and VEMA.L in my portfolio?

With a correlation of 0.91, EMIG.L and VEMA.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, EMIG.L or VEMA.L?

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.

Which ETF is cheaper, EMIG.L or VEMA.L?

VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.45% for EMIG.L.

What is the main difference between EMIG.L and VEMA.L?

Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: UBS and Vanguard. Their fees differ too: 0.45% for EMIG.L and 0.25% for VEMA.L.