EMLI.L vs. SBEM.L
EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) and SBEM.L (UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - EMLI.L tracks the JPM GBI-EM Global Diversified TR USD while SBEM.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 10 years, EMLI.L returned 3.23%/yr vs 3.79%/yr for SBEM.L. At a 0.38 correlation, their price movements are largely independent. EMLI.L charges 0.61%/yr vs 0.42%/yr for SBEM.L.
Performance
EMLI.L vs. SBEM.L - Performance Comparison
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Different Trading Currencies
EMLI.L is traded in USD, while SBEM.L is traded in GBp. To make them comparable, the SBEM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMLI.L achieves a 1.64% return, which is significantly lower than SBEM.L's 2.23% return. Over the past 10 years, EMLI.L has underperformed SBEM.L with an annualized return of 3.23%, while SBEM.L has yielded a comparatively higher 3.79% annualized return.
EMLI.L
- 1D
- -0.27%
- 1M
- -0.41%
- YTD
- 1.64%
- 6M
- 1.64%
- 1Y
- 8.36%
- 3Y*
- 6.38%
- 5Y*
- 3.30%
- 10Y*
- 3.23%
SBEM.L
- 1D
- 0.28%
- 1M
- 1.48%
- YTD
- 2.23%
- 6M
- 3.54%
- 1Y
- 13.46%
- 3Y*
- 11.48%
- 5Y*
- 2.38%
- 10Y*
- 3.79%
EMLI.L vs. SBEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 1.64% | 16.62% | -3.24% | 13.68% | -5.61% | -5.52% | 1.92% | 13.04% | -6.89% | 12.58% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 2.23% | 15.52% | 7.63% | 11.53% | -19.84% | -2.19% | 4.39% | 15.36% | -4.32% | 10.03% |
Correlation
The correlation between EMLI.L and SBEM.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2016 | 0.38 |
The correlation between EMLI.L and SBEM.L shifts across timeframes, from 0.32 (1 year) to 0.42 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMLI.L vs. SBEM.L — Risk / Return Rank
EMLI.L
SBEM.L
EMLI.L vs. SBEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.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.
| EMLI.L | SBEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.37 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 2.79 | -1.32 |
| Martin ratioReturn relative to average drawdown | 5.23 | 12.72 | -7.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMLI.L | SBEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | 2.08 | -0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.25 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.36 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.43 | -0.20 |
Drawdowns
EMLI.L vs. SBEM.L - Drawdown Comparison
The maximum EMLI.L drawdown since its inception was -25.62%, smaller than the maximum SBEM.L drawdown of -30.77%. Use the drawdown chart below to compare losses from any high point for EMLI.L and SBEM.L.
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Drawdown Indicators
| EMLI.L | SBEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.62% | -30.77% | +5.15% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -4.80% | -0.87% |
Max Drawdown (3Y)Largest decline over 3 years | -7.82% | -7.12% | -0.70% |
Max Drawdown (5Y)Largest decline over 5 years | -19.52% | -30.77% | +11.25% |
Max Drawdown (10Y)Largest decline over 10 years | -21.08% | -30.77% | +9.69% |
Current DrawdownCurrent decline from peak | -2.80% | 0.00% | -2.80% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -6.47% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 1.06% | +0.53% |
Volatility
EMLI.L vs. SBEM.L - Volatility Comparison
PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) and UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) have volatilities of 2.02% and 1.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLI.L | SBEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 1.98% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 5.01% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 6.47% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.89% | 9.44% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.59% | 10.50% | -0.91% |
EMLI.L vs. SBEM.L - Expense Ratio Comparison
EMLI.L has a 0.61% expense ratio, which is higher than SBEM.L's 0.42% expense ratio.
Dividends
EMLI.L vs. SBEM.L - Dividend Comparison
EMLI.L's dividend yield for the trailing twelve months is around 6.55%, which matches SBEM.L's 6.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 6.55% | 5.81% | 6.33% | 5.70% | 5.21% | 4.50% | 3.68% | 5.24% | 5.83% | 5.76% | 6.69% | 7.09% |
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis | 6.53% | 7.69% | 6.28% | 6.49% | 5.72% | 4.35% | 4.92% | 4.83% | 4.47% | 4.84% | 2.27% | 0.00% |
Frequently Asked Questions
EMLI.L and SBEM.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SBEM.L is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SBEM.L is cheaper with a 0.42% expense ratio, compared with 0.61% for EMLI.L.
EMLI.L tracks JPM GBI-EM Global Diversified TR USD, while SBEM.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: PIMCO and UBS. Their fees differ too: 0.61% for EMLI.L and 0.42% for SBEM.L.
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