EMLB.L vs. LDCU.L

Last updated Jul 16, 2026

EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and LDCU.L (PIMCO US Low Duration Corporate Bond UCITS ETF 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 LDCU.L is a Corporate Bonds fund tracking the Bloomberg US Corp 1-3 Yr TR USD. Both are passively managed. Over the past 10 years, EMLB.L returned 3.11%/yr vs 2.83%/yr for LDCU.L. At a 0.22 correlation, their price movements are largely independent. EMLB.L charges 0.39%/yr vs 0.49%/yr for LDCU.L.

Performance

EMLB.L vs. LDCU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) and PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLB.L achieves a 2.92% return, which is significantly higher than LDCU.L's 0.64% return. Over the past 10 years, EMLB.L has outperformed LDCU.L with an annualized return of 3.11%, while LDCU.L has yielded a comparatively lower 2.83% annualized return.

EMLB.L

• 1D: 0.25%
• 1M: 0.05%
• 6M: 2.30%
• YTD: 2.92%
• 1Y: 8.68%
• 3Y*: 5.90%
• 5Y*: 3.98%
• 10Y*: 3.11%

LDCU.L

• 1D: -0.04%
• 1M: 0.01%
• 6M: 0.47%
• YTD: 0.64%
• 1Y: 3.59%
• 3Y*: 5.31%
• 5Y*: 2.33%
• 10Y*: 2.83%

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

EMLB.L vs. LDCU.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)	2.92%	17.08%	-3.25%	13.74%	-5.70%	-5.53%	1.91%	13.10%	-6.90%	12.55%
LDCU.L PIMCO US Low Duration Corporate Bond UCITS ETF Dist	0.64%	6.55%	5.24%	6.22%	-5.40%	-0.40%	4.56%	7.02%	1.00%	3.32%

Correlation

The correlation between EMLB.L and LDCU.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	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 17, 2014	0.22

The correlation between EMLB.L and LDCU.L shifts across timeframes, from 0.22 (all time) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EMLB.L vs. LDCU.L — Risk / Return Rank

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

EMLB.L

EMLB.L Risk / Return Rank: 40
EMLB.L Sharpe Ratio Rank: 41
EMLB.L Sortino Ratio Rank: 43
EMLB.L Omega Ratio Rank: 43
EMLB.L Calmar Ratio Rank: 36
EMLB.L Martin Ratio Rank: 40

LDCU.L

LDCU.L Risk / Return Rank: 39
LDCU.L Sharpe Ratio Rank: 39
LDCU.L Sortino Ratio Rank: 42
LDCU.L Omega Ratio Rank: 37
LDCU.L Calmar Ratio Rank: 36
LDCU.L Martin Ratio Rank: 42

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.

EMLB.L vs. LDCU.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 PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.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	LDCU.L	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.18	+0.02
Sortino ratio: Return per unit of downside risk	1.83	1.81	+0.02
Omega ratio: Gain probability vs. loss probability	1.23	1.21	+0.02
Calmar ratio: Return relative to maximum drawdown	1.54	1.57	-0.03
Martin ratio: Return relative to average drawdown	5.03	5.54	-0.51

EMLB.L vs. LDCU.L - Sharpe Ratio Comparison

The current EMLB.L Sharpe Ratio is 1.20, which is comparable to the LDCU.L Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of EMLB.L and LDCU.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.

Drawdowns

EMLB.L vs. LDCU.L - Drawdown Comparison

The maximum EMLB.L drawdown since its inception was -29.75%, which is greater than LDCU.L's maximum drawdown of -9.42%. Use the drawdown chart below to compare losses from any high point for EMLB.L and LDCU.L.

Drawdown Indicators

	EMLB.L	LDCU.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.75%	-9.42%	-20.33%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-2.10%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-7.50%	-2.10%	-5.40%
Max Drawdown (5Y) Largest decline over 5 years	-20.09%	-9.42%	-10.67%
Max Drawdown (10Y) Largest decline over 10 years	-21.37%	-9.42%	-11.95%
Current Drawdown Current decline from peak	-1.04%	-0.46%	-0.58%
Average Drawdown Average peak-to-trough decline	-9.33%	-1.26%	-8.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.59%	+1.09%

Volatility

EMLB.L vs. LDCU.L - Volatility Comparison

PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 2.03% compared to PIMCO US Low Duration Corporate Bond UCITS ETF Dist (LDCU.L) at 0.52%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than LDCU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLB.L	LDCU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	0.52%	+1.51%
Volatility (6M) Calculated over the trailing 6-month period	6.19%	1.63%	+4.56%
Volatility (1Y) Calculated over the trailing 1-year period	7.00%	2.80%	+4.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.48%	3.11%	+6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.58%	2.69%	+6.89%

EMLB.L vs. LDCU.L - Expense Ratio Comparison

EMLB.L has a 0.39% expense ratio, which is lower than LDCU.L's 0.49% expense ratio.

Dividends

EMLB.L vs. LDCU.L - Dividend Comparison

EMLB.L has not paid dividends to shareholders, while LDCU.L's dividend yield for the trailing twelve months is around 4.56%.

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%
LDCU.L PIMCO US Low Duration Corporate Bond UCITS ETF Dist	4.56%	4.42%	4.40%	3.45%	1.93%	1.77%	2.17%	2.96%	2.75%	2.26%	2.37%	2.13%

Frequently Asked Questions

Can I hold both EMLB.L and LDCU.L in my portfolio?

EMLB.L and LDCU.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.

Which ETF is better, EMLB.L or LDCU.L?

On fees, EMLB.L is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMLB.L or LDCU.L?

EMLB.L is cheaper with a 0.39% expense ratio, compared with 0.49% for LDCU.L.

What is the main difference between EMLB.L and LDCU.L?

EMLB.L is categorized as Emerging Markets Bonds, while LDCU.L is Corporate Bonds. EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while LDCU.L tracks Bloomberg US Corp 1-3 Yr TR USD. Their fees differ too: 0.39% for EMLB.L and 0.49% for LDCU.L.