EMLC.L vs. EMCA.L
EMLC.L (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc)) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - EMLC.L tracks the J.P. Morgan Government Bond Index-Emerging Markets Global Core Index while EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, EMLC.L returned 1.90%/yr vs 1.91%/yr for EMCA.L. At a 0.39 correlation, their price movements are largely independent. EMLC.L charges 0.30%/yr vs 0.50%/yr for EMCA.L.
Performance
EMLC.L vs. EMCA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMLC.L achieves a 1.90% return, which is significantly higher than EMCA.L's 1.55% return.
EMLC.L
- 1D
- 0.26%
- 1M
- -0.43%
- 6M
- 1.29%
- YTD
- 1.90%
- 1Y
- 8.43%
- 3Y*
- 5.71%
- 5Y*
- 1.90%
- 10Y*
- —
EMCA.L
- 1D
- -0.09%
- 1M
- -0.38%
- 6M
- 1.25%
- YTD
- 1.55%
- 1Y
- 5.99%
- 3Y*
- 6.97%
- 5Y*
- 1.91%
- 10Y*
- —
EMLC.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMLC.L VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc) | 1.90% | 17.98% | -2.29% | 10.29% | -9.98% | -9.75% | 2.70% | 9.54% | -4.73% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.55% | 8.60% | 6.21% | 7.96% | -12.09% | -0.51% | 7.04% | 13.77% | 0.89% |
Correlation
The correlation between EMLC.L and EMCA.L is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.39 |
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
EMLC.L vs. EMCA.L — Risk / Return Rank
EMLC.L
EMCA.L
EMLC.L vs. EMCA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc) (EMLC.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.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.
| EMLC.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 2.63 | -1.34 |
| Martin ratioReturn relative to average drawdown | 4.11 | 10.19 | -6.08 |
Loading charts...
Drawdowns
EMLC.L vs. EMCA.L - Drawdown Comparison
The maximum EMLC.L drawdown since its inception was -26.61%, which is greater than EMCA.L's maximum drawdown of -24.69%. Use the drawdown chart below to compare losses from any high point for EMLC.L and EMCA.L.
Loading charts...
Drawdown Indicators
| EMLC.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.61% | -24.69% | -1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -2.21% | -3.85% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -3.58% | -5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -23.38% | -20.14% | -3.24% |
Current DrawdownCurrent decline from peak | -1.59% | -0.53% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -9.16% | -4.05% | -5.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 0.57% | +1.33% |
Volatility
EMLC.L vs. EMCA.L - Volatility Comparison
VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc) (EMLC.L) has a higher volatility of 2.13% compared to iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) at 1.06%. This indicates that EMLC.L's price experiences larger fluctuations and is considered to be riskier than EMCA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMLC.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 1.06% | +1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 6.25% | 3.26% | +2.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.32% | 3.82% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.37% | 5.25% | +3.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 8.79% | +0.44% |
EMLC.L vs. EMCA.L - Expense Ratio Comparison
EMLC.L has a 0.30% expense ratio, which is lower than EMCA.L's 0.50% expense ratio.
Dividends
EMLC.L vs. EMCA.L - Dividend Comparison
Neither EMLC.L nor EMCA.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EMLC.L VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.20% |
Frequently Asked Questions
EMLC.L and EMCA.L have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMLC.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMLC.L is cheaper with a 0.30% expense ratio, compared with 0.50% for EMCA.L.
EMLC.L tracks J.P. Morgan Government Bond Index-Emerging Markets Global Core Index, while EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.30% for EMLC.L and 0.50% for EMCA.L.
Find the right allocation for EMLC.L and EMCA.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