EMLB.L vs. IE15.L
EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and IE15.L (iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist)) are both exchange-traded funds - EMLB.L is a Emerging Markets Bonds fund tracking the PIMCO Emerging Markets Advantage Local Currency Bond Index, while IE15.L is a Short-Term Bond fund tracking the BBG Euro Corp 1-5 Yrs (EUR). Both are passively managed. Over the past 10 years, EMLB.L returned 3.09%/yr vs 1.10%/yr for IE15.L. At a 0.33 correlation, their price movements are largely independent. EMLB.L charges 0.39%/yr vs 0.20%/yr for IE15.L.
Performance
EMLB.L vs. IE15.L - Performance Comparison
Loading charts...
Different Trading Currencies
EMLB.L is traded in USD, while IE15.L is traded in EUR. To make them comparable, the IE15.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 2.65% return, which is significantly higher than IE15.L's -3.63% return. Over the past 10 years, EMLB.L has outperformed IE15.L with an annualized return of 3.09%, while IE15.L has yielded a comparatively lower 1.10% annualized return.
EMLB.L
- 1D
- -0.01%
- 1M
- -0.21%
- 6M
- 1.96%
- YTD
- 2.65%
- 1Y
- 8.18%
- 3Y*
- 5.81%
- 5Y*
- 3.92%
- 10Y*
- 3.09%
IE15.L
- 1D
- -0.29%
- 1M
- -1.67%
- 6M
- -1.28%
- YTD
- -3.63%
- 1Y
- -1.93%
- 3Y*
- 4.32%
- 5Y*
- 0.08%
- 10Y*
- 1.10%
EMLB.L vs. IE15.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 2.65% | 17.08% | -3.25% | 13.74% | -5.70% | -5.53% | 1.91% | 13.10% | -6.90% | 12.55% |
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | -3.67% | 17.31% | -2.11% | 9.11% | -13.33% | -7.12% | 10.01% | 0.63% | -5.28% | 15.13% |
Correlation
The correlation between EMLB.L and IE15.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2011 | 0.33 |
Over the past year, EMLB.L and IE15.L have become more correlated (0.58) than their long-term average of 0.33, meaning their price movements have been converging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMLB.L vs. IE15.L — Risk / Return Rank
EMLB.L
IE15.L
EMLB.L vs. IE15.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 iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.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 | IE15.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.10 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 0.96 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | -0.31 | +1.80 |
| Martin ratioReturn relative to average drawdown | 4.86 | -0.69 | +5.55 |
Loading charts...
Drawdowns
EMLB.L vs. IE15.L - Drawdown Comparison
The maximum EMLB.L drawdown since its inception was -29.75%, smaller than the maximum IE15.L drawdown of -31.96%. Use the drawdown chart below to compare losses from any high point for EMLB.L and IE15.L.
Loading charts...
Drawdown Indicators
| EMLB.L | IE15.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.75% | -31.96% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -6.14% | +0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -7.50% | -8.00% | +0.50% |
Max Drawdown (5Y)Largest decline over 5 years | -20.09% | -27.14% | +7.05% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | -29.41% | +8.04% |
Current DrawdownCurrent decline from peak | -1.30% | -7.10% | +5.80% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -12.28% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 2.80% | -1.12% |
Volatility
EMLB.L vs. IE15.L - Volatility Comparison
PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 2.01% compared to iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) (IE15.L) at 1.41%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than IE15.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMLB.L | IE15.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.01% | 1.41% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.18% | 5.35% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 7.24% | -0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 8.45% | +1.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.58% | 8.04% | +1.54% |
EMLB.L vs. IE15.L - Expense Ratio Comparison
EMLB.L has a 0.39% expense ratio, which is higher than IE15.L's 0.20% expense ratio.
Dividends
EMLB.L vs. IE15.L - Dividend Comparison
EMLB.L has not paid dividends to shareholders, while IE15.L's dividend yield for the trailing twelve months is around 3.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IE15.L iShares € Corp Bond 1-5yr UCITS ETF EUR (Dist) | 1.51% | 2.92% | 2.50% | 1.41% | 0.51% | 0.57% | 0.59% | 0.62% | 0.62% | 0.68% | 0.90% | 0.56% |
Frequently Asked Questions
EMLB.L and IE15.L have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IE15.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IE15.L is cheaper with a 0.20% expense ratio, compared with 0.39% for EMLB.L.
EMLB.L is categorized as Emerging Markets Bonds, while IE15.L is Short-Term Bond. EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while IE15.L tracks BBG Euro Corp 1-5 Yrs (EUR). They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.39% for EMLB.L and 0.20% for IE15.L.
Find the right allocation for EMLB.L and IE15.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer