EMLC.L vs. JPEE.L
EMLC.L (VanEck J.P. Morgan EM Local Currency Bond UCITS ETF A USD (Acc)) and JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) are both Emerging Markets Bonds funds - EMLC.L tracks the J.P. Morgan Government Bond Index-Emerging Markets Global Core Index while JPEE.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMLC.L returned 1.90%/yr vs 1.79%/yr for JPEE.L. At a 0.44 correlation, their price movements are largely independent. EMLC.L charges 0.30%/yr vs 0.45%/yr for JPEE.L.
Performance
EMLC.L vs. JPEE.L - Performance Comparison
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Different Trading Currencies
EMLC.L is traded in USD, while JPEE.L is traded in EUR. To make them comparable, the JPEE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with EMLC.L having a 1.90% return and JPEE.L slightly lower at 1.88%.
EMLC.L
- 1D
- 0.26%
- 1M
- -0.43%
- 6M
- 1.29%
- YTD
- 1.90%
- 1Y
- 8.43%
- 3Y*
- 5.71%
- 5Y*
- 1.90%
- 10Y*
- —
JPEE.L
- 1D
- 0.00%
- 1M
- -0.55%
- 6M
- 2.19%
- YTD
- 1.88%
- 1Y
- 10.08%
- 3Y*
- 8.79%
- 5Y*
- 1.79%
- 10Y*
- —
EMLC.L vs. JPEE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | -8.44% | 7.42% |
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 1.88% | 14.20% | 5.65% | 9.93% | -18.63% | -1.37% | 5.06% | 15.84% | -5.54% | -0.55% |
Correlation
The correlation between EMLC.L and JPEE.L is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2017 | 0.44 |
The correlation between EMLC.L and JPEE.L shifts across timeframes, from 0.35 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMLC.L vs. JPEE.L — Risk / Return Rank
EMLC.L
JPEE.L
EMLC.L vs. JPEE.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 USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.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 | JPEE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.31 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 2.26 | -0.97 |
| Martin ratioReturn relative to average drawdown | 4.11 | 9.28 | -5.18 |
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Drawdowns
EMLC.L vs. JPEE.L - Drawdown Comparison
The maximum EMLC.L drawdown since its inception was -26.61%, smaller than the maximum JPEE.L drawdown of -31.14%. Use the drawdown chart below to compare losses from any high point for EMLC.L and JPEE.L.
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Drawdown Indicators
| EMLC.L | JPEE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.61% | -31.14% | +4.53% |
Max Drawdown (1Y)Largest decline over 1 year | -6.06% | -4.48% | -1.58% |
Max Drawdown (3Y)Largest decline over 3 years | -8.95% | -7.19% | -1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -23.38% | -28.48% | +5.10% |
Current DrawdownCurrent decline from peak | -1.59% | -0.69% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -9.16% | -12.26% | +3.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.09% | +0.81% |
Volatility
EMLC.L vs. JPEE.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 USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) at 1.63%. This indicates that EMLC.L's price experiences larger fluctuations and is considered to be riskier than JPEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLC.L | JPEE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 1.63% | +0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.25% | 4.54% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.32% | 6.01% | +1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.37% | 9.23% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.23% | 11.32% | -2.09% |
EMLC.L vs. JPEE.L - Expense Ratio Comparison
EMLC.L has a 0.30% expense ratio, which is lower than JPEE.L's 0.45% expense ratio.
Dividends
EMLC.L vs. JPEE.L - Dividend Comparison
Neither EMLC.L nor JPEE.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
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% |
JPEE.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLC.L and JPEE.L have a correlation of 0.35, 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 0.45% for JPEE.L.
EMLC.L tracks J.P. Morgan Government Bond Index-Emerging Markets Global Core Index, while JPEE.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.30% for EMLC.L and 0.45% for JPEE.L.
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