EMLB.L vs. FVUG.L
EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and FVUG.L (Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc)) are both exchange-traded funds - EMLB.L is a Emerging Markets Bonds fund tracking the PIMCO Emerging Markets Advantage Local Currency Bond Index, while FVUG.L is a Green Bonds fund tracking the Bloomberg Global Aggregate EUR Green Bond Index. Both are passively managed. Over the past 5 years, EMLB.L returned 3.90%/yr vs -2.81%/yr for FVUG.L. At a 0.36 correlation, their price movements are largely independent. EMLB.L charges 0.39%/yr vs 0.25%/yr for FVUG.L.
Performance
EMLB.L vs. FVUG.L - Performance Comparison
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Different Trading Currencies
EMLB.L is traded in USD, while FVUG.L is traded in GBP. To make them comparable, the FVUG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMLB.L achieves a 2.55% return, which is significantly higher than FVUG.L's -2.17% return.
EMLB.L
- 1D
- -0.10%
- 1M
- -0.55%
- 6M
- 1.96%
- YTD
- 2.55%
- 1Y
- 8.40%
- 3Y*
- 5.61%
- 5Y*
- 3.90%
- 10Y*
- 3.12%
FVUG.L
- 1D
- 0.13%
- 1M
- -1.27%
- 6M
- -1.30%
- YTD
- -2.17%
- 1Y
- -0.29%
- 3Y*
- 3.73%
- 5Y*
- -2.81%
- 10Y*
- —
EMLB.L vs. FVUG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 2.55% | 17.08% | -3.25% | 13.74% | -5.70% | -5.53% | 1.91% | 8.89% |
FVUG.L Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) | -2.17% | 13.83% | -3.53% | 11.21% | -23.64% | -10.17% | 14.73% | -9.83% |
Correlation
The correlation between EMLB.L and FVUG.L is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2019 | 0.36 |
The correlation between EMLB.L and FVUG.L shifts across timeframes, from 0.36 (all time) to 0.53 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMLB.L vs. FVUG.L — Risk / Return Rank
EMLB.L
FVUG.L
EMLB.L vs. FVUG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) and Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FVUG.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.
| EMLB.L | FVUG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.00 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | -0.05 | +1.57 |
| Martin ratioReturn relative to average drawdown | 4.98 | -0.11 | +5.09 |
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Drawdowns
EMLB.L vs. FVUG.L - Drawdown Comparison
The maximum EMLB.L drawdown since its inception was -29.75%, smaller than the maximum FVUG.L drawdown of -39.52%. Use the drawdown chart below to compare losses from any high point for EMLB.L and FVUG.L.
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Drawdown Indicators
| EMLB.L | FVUG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.75% | -39.52% | +9.77% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -5.97% | +0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -7.50% | -9.89% | +2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -20.09% | -36.79% | +16.70% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -18.44% | +17.04% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -18.43% | +9.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 2.69% | -1.01% |
Volatility
EMLB.L vs. FVUG.L - Volatility Comparison
PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 1.78% compared to Franklin Sustainable Euro Green Bond UCITS ETF EUR (Acc) (FVUG.L) at 1.61%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than FVUG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLB.L | FVUG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 1.61% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 6.18% | 6.23% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 7.91% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 9.87% | -0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.58% | 10.93% | -1.35% |
EMLB.L vs. FVUG.L - Expense Ratio Comparison
EMLB.L has a 0.39% expense ratio, which is higher than FVUG.L's 0.25% expense ratio.
Dividends
EMLB.L vs. FVUG.L - Dividend Comparison
Neither EMLB.L nor FVUG.L has paid dividends to shareholders.
Frequently Asked Questions
EMLB.L and FVUG.L have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FVUG.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FVUG.L is cheaper with a 0.25% expense ratio, compared with 0.39% for EMLB.L.
EMLB.L is categorized as Emerging Markets Bonds, while FVUG.L is Green Bonds. EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while FVUG.L tracks Bloomberg Global Aggregate EUR Green Bond Index. They also come from different issuers: PIMCO and Franklin. Their fees differ too: 0.39% for EMLB.L and 0.25% for FVUG.L.
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