EMLB.L vs. LQDH.L
EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) and LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (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 LQDH.L is a Global Bonds fund tracking the iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). Both are passively managed. Over the past 10 years, EMLB.L returned 3.11%/yr vs 4.37%/yr for LQDH.L. At a 0.25 correlation, their price movements are largely independent. EMLB.L charges 0.39%/yr vs 0.25%/yr for LQDH.L.
Performance
EMLB.L vs. LQDH.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMLB.L achieves a 2.92% return, which is significantly higher than LQDH.L's 2.29% return. Over the past 10 years, EMLB.L has underperformed LQDH.L with an annualized return of 3.11%, while LQDH.L has yielded a comparatively higher 4.37% 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%
LQDH.L
- 1D
- -0.21%
- 1M
- -0.37%
- 6M
- 1.67%
- YTD
- 2.29%
- 1Y
- 4.74%
- 3Y*
- 7.38%
- 5Y*
- 5.33%
- 10Y*
- 4.37%
EMLB.L vs. LQDH.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% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.29% | 4.93% | 8.27% | 11.54% | 0.28% | 0.92% | 0.77% | 10.76% | -2.64% | 4.56% |
Correlation
The correlation between EMLB.L and LQDH.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2013 | 0.25 |
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Return for Risk
EMLB.L vs. LQDH.L — Risk / Return Rank
EMLB.L
LQDH.L
EMLB.L vs. LQDH.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 Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.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 | LQDH.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 3.29 | -1.75 |
| Martin ratioReturn relative to average drawdown | 5.03 | 11.24 | -6.21 |
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Drawdowns
EMLB.L vs. LQDH.L - Drawdown Comparison
The maximum EMLB.L drawdown since its inception was -29.75%, which is greater than LQDH.L's maximum drawdown of -23.77%. Use the drawdown chart below to compare losses from any high point for EMLB.L and LQDH.L.
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Drawdown Indicators
| EMLB.L | LQDH.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.75% | -23.77% | -5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.48% | -1.39% | -4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.50% | -2.81% | -4.69% |
Max Drawdown (5Y)Largest decline over 5 years | -20.09% | -6.42% | -13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -21.37% | -23.77% | +2.40% |
Current DrawdownCurrent decline from peak | -1.04% | -0.51% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -1.46% | -7.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 0.41% | +1.27% |
Volatility
EMLB.L vs. LQDH.L - Volatility Comparison
PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a higher volatility of 2.03% compared to iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) at 0.93%. This indicates that EMLB.L's price experiences larger fluctuations and is considered to be riskier than LQDH.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 | LQDH.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.03% | 0.93% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 6.19% | 2.21% | +3.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.00% | 3.19% | +3.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.48% | 4.87% | +4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.58% | 6.41% | +3.17% |
EMLB.L vs. LQDH.L - Expense Ratio Comparison
EMLB.L has a 0.39% expense ratio, which is higher than LQDH.L's 0.25% expense ratio.
Dividends
EMLB.L vs. LQDH.L - Dividend Comparison
EMLB.L has not paid dividends to shareholders, while LQDH.L's dividend yield for the trailing twelve months is around 4.34%.
| 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% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.34% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
Frequently Asked Questions
EMLB.L and LQDH.L have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQDH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQDH.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 LQDH.L is Global Bonds. EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index, while LQDH.L tracks iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist). They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.39% for EMLB.L and 0.25% for LQDH.L.
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