EMLB.L vs. JMBA.L
EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and JMBA.L (JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - EMLB.L tracks the PIMCO Emerging Markets Advantage Local Currency Bond Index while JMBA.L tracks the J.P. Morgan Emerging Market Risk Aware Bond Index. Both are passively managed. Over the past 5 years, EMLB.L returned 3.90%/yr vs 1.31%/yr for JMBA.L. A 0.50 correlation means they provide meaningful diversification when combined. Both charge a 0.39% expense ratio.
Performance
EMLB.L vs. JMBA.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMLB.L achieves a 2.55% return, which is significantly higher than JMBA.L's 1.62% 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%
JMBA.L
- 1D
- 0.12%
- 1M
- -0.60%
- 6M
- 1.83%
- YTD
- 1.62%
- 1Y
- 9.28%
- 3Y*
- 7.14%
- 5Y*
- 1.31%
- 10Y*
- —
EMLB.L vs. JMBA.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% | 3.02% |
JMBA.L JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) | 1.62% | 13.26% | 2.01% | 9.51% | -16.13% | -2.45% | 5.36% | 3.30% |
Correlation
The correlation between EMLB.L and JMBA.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 | 0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2019 | 0.50 |
The correlation between EMLB.L and JMBA.L has been stable across timeframes, ranging from 0.50 to 0.53 - a consistent structural relationship.
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Return for Risk
EMLB.L vs. JMBA.L — Risk / Return Rank
EMLB.L
JMBA.L
EMLB.L vs. JMBA.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 JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) (JMBA.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 | JMBA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.35 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.11 | -0.58 |
| Martin ratioReturn relative to average drawdown | 4.98 | 8.82 | -3.84 |
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Drawdowns
EMLB.L vs. JMBA.L - Drawdown Comparison
The maximum EMLB.L drawdown since its inception was -29.75%, which is greater than JMBA.L's maximum drawdown of -26.75%. Use the drawdown chart below to compare losses from any high point for EMLB.L and JMBA.L.
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Drawdown Indicators
| EMLB.L | JMBA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.75% | -26.75% | -3.00% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -4.39% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.50% | -7.30% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -20.09% | -25.91% | +5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | — | — |
Current DrawdownCurrent decline from peak | -1.40% | -0.83% | -0.57% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -8.29% | -1.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 1.05% | +0.63% |
Volatility
EMLB.L vs. JMBA.L - Volatility Comparison
PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 1.78% compared to JPM USD Emerging Markets Sovereign Bond UCITS ETF USD (Acc) (JMBA.L) at 0.77%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than JMBA.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 | JMBA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 0.77% | +1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 6.18% | 4.37% | +1.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 5.19% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 8.44% | +1.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.58% | 10.53% | -0.95% |
EMLB.L vs. JMBA.L - Expense Ratio Comparison
Both EMLB.L and JMBA.L have an expense ratio of 0.39%.
Dividends
EMLB.L vs. JMBA.L - Dividend Comparison
Neither EMLB.L nor JMBA.L has paid dividends to shareholders.
Frequently Asked Questions
EMLB.L and JMBA.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.
Both ETFs have the same 0.39% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMLB.L and JMBA.L have the same expense ratio: 0.39% per year.
EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while JMBA.L tracks J.P. Morgan Emerging Market Risk Aware Bond Index. They also come from different issuers: PIMCO and JPMorgan.
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