EMLI.L vs. SHYG.L
EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) and SHYG.L (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - EMLI.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while SHYG.L is a European High Yield Bonds fund tracking the Bloomberg Pan Euro HY Euro TR EUR. Both are passively managed. Over the past 10 years, EMLI.L returned 3.23%/yr vs 2.81%/yr for SHYG.L. At a 0.44 correlation, their price movements are largely independent. EMLI.L charges 0.61%/yr vs 0.50%/yr for SHYG.L.
Performance
EMLI.L vs. SHYG.L - Performance Comparison
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Different Trading Currencies
EMLI.L is traded in USD, while SHYG.L is traded in GBP. To make them comparable, the SHYG.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 higher than SHYG.L's -2.83% return. Over the past 10 years, EMLI.L has outperformed SHYG.L with an annualized return of 3.23%, while SHYG.L has yielded a comparatively lower 2.81% 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%
SHYG.L
- 1D
- 0.29%
- 1M
- 0.38%
- YTD
- -2.83%
- 6M
- -1.26%
- 1Y
- -0.23%
- 3Y*
- 7.34%
- 5Y*
- 0.71%
- 10Y*
- 2.81%
EMLI.L vs. SHYG.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% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | -2.83% | 15.82% | -0.71% | 15.07% | -14.64% | -4.56% | 9.87% | 8.64% | -8.13% | 18.55% |
Correlation
The correlation between EMLI.L and SHYG.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.44 |
The correlation between EMLI.L and SHYG.L shifts across timeframes, from 0.44 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMLI.L vs. SHYG.L — Risk / Return Rank
EMLI.L
SHYG.L
EMLI.L vs. SHYG.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 iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.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 | SHYG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.00 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | -0.02 | +1.49 |
| Martin ratioReturn relative to average drawdown | 5.23 | -0.06 | +5.30 |
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 | SHYG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.29 | -0.03 | +1.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.07 | +0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.25 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.24 | -0.01 |
Drawdowns
EMLI.L vs. SHYG.L - Drawdown Comparison
The maximum EMLI.L drawdown since its inception was -25.62%, smaller than the maximum SHYG.L drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for EMLI.L and SHYG.L.
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Drawdown Indicators
| EMLI.L | SHYG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.62% | -32.04% | +6.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.67% | -9.79% | +4.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.82% | -9.79% | +1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -19.52% | -32.04% | +12.52% |
Max Drawdown (10Y)Largest decline over 10 years | -21.08% | -32.04% | +10.96% |
Current DrawdownCurrent decline from peak | -2.80% | -5.51% | +2.71% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -9.24% | +1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.59% | 3.69% | -2.10% |
Volatility
EMLI.L vs. SHYG.L - Volatility Comparison
The current volatility for PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) is 2.02%, while iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (SHYG.L) has a volatility of 2.18%. This indicates that EMLI.L experiences smaller price fluctuations and is considered to be less risky than SHYG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLI.L | SHYG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 2.18% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 5.40% | 6.20% | -0.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.49% | 8.18% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.89% | 10.73% | -0.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.59% | 11.06% | -1.47% |
EMLI.L vs. SHYG.L - Expense Ratio Comparison
EMLI.L has a 0.61% expense ratio, which is higher than SHYG.L's 0.50% expense ratio.
Dividends
EMLI.L vs. SHYG.L - Dividend Comparison
EMLI.L's dividend yield for the trailing twelve months is around 6.55%, while SHYG.L has not paid dividends to shareholders.
| 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% |
SHYG.L iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 0.00% | 2.75% | 6.24% | 5.39% | 3.58% | 3.13% | 3.66% | 3.86% | 3.65% | 3.74% | 3.83% | 4.55% |
Frequently Asked Questions
EMLI.L and SHYG.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SHYG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SHYG.L is cheaper with a 0.50% expense ratio, compared with 0.61% for EMLI.L.
EMLI.L is categorized as Emerging Markets Bonds, while SHYG.L is European High Yield Bonds. EMLI.L tracks JPM GBI-EM Global Diversified TR USD, while SHYG.L tracks Bloomberg Pan Euro HY Euro TR EUR. They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.61% for EMLI.L and 0.50% for SHYG.L.
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