EMLO.L vs. EMIG.L

Last updated Jun 5, 2026

EMLO.L (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and EMIG.L (UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc) are both Emerging Markets Bonds funds from UBS - EMLO.L tracks the JPM GBI-EM Global Diversified TR USD while EMIG.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMLO.L returned 3.09%/yr vs 0.89%/yr for EMIG.L. A 0.55 correlation means they provide meaningful diversification when combined. EMLO.L charges 0.47%/yr vs 0.45%/yr for EMIG.L.

Performance

EMLO.L vs. EMIG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLO.L achieves a 1.29% return, which is significantly higher than EMIG.L's 0.13% return.

EMLO.L

• 1D: -0.30%
• 1M: 1.58%
• YTD: 1.29%
• 6M: 1.63%
• 1Y: 12.01%
• 3Y*: 6.05%
• 5Y*: 3.09%
• 10Y*: —

EMIG.L

• 1D: -0.09%
• 1M: 1.05%
• YTD: 0.13%
• 6M: -0.29%
• 1Y: 7.08%
• 3Y*: 2.15%
• 5Y*: 0.89%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMLO.L vs. EMIG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	1.29%	12.30%	0.01%	8.48%	-4.28%	-6.61%	-1.56%	-3.72%
EMIG.L UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc	0.13%	1.96%	3.34%	0.56%	-7.44%	-0.84%	5.09%	-5.65%

Correlation

The correlation between EMLO.L and EMIG.L is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019	0.55

The correlation between EMLO.L and EMIG.L has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.

Return for Risk

EMLO.L vs. EMIG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMLO.L

EMLO.L Risk / Return Rank: 58
EMLO.L Sharpe Ratio Rank: 62
EMLO.L Sortino Ratio Rank: 66
EMLO.L Omega Ratio Rank: 63
EMLO.L Calmar Ratio Rank: 52
EMLO.L Martin Ratio Rank: 46

EMIG.L

EMIG.L Risk / Return Rank: 31
EMIG.L Sharpe Ratio Rank: 35
EMIG.L Sortino Ratio Rank: 36
EMIG.L Omega Ratio Rank: 32
EMIG.L Calmar Ratio Rank: 29
EMIG.L Martin Ratio Rank: 25

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMLO.L vs. EMIG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.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.

	EMLO.L	EMIG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.22	+0.84
Sortino ratio: Return per unit of downside risk	3.00	1.83	+1.18
Omega ratio: Gain probability vs. loss probability	1.38	1.21	+0.17
Calmar ratio: Return relative to maximum drawdown	2.51	1.40	+1.10
Martin ratio: Return relative to average drawdown	7.38	3.30	+4.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMLO.L vs. EMIG.L - Sharpe Ratio Comparison

The current EMLO.L Sharpe Ratio is 2.06, which is higher than the EMIG.L Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of EMLO.L and EMIG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMLO.L	EMIG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	1.22	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.11	+0.30
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	-0.05	+0.45

Drawdowns

EMLO.L vs. EMIG.L - Drawdown Comparison

The maximum EMLO.L drawdown since its inception was -20.42%, which is greater than EMIG.L's maximum drawdown of -17.02%. Use the drawdown chart below to compare losses from any high point for EMLO.L and EMIG.L.

Drawdown Indicators

	EMLO.L	EMIG.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.42%	-17.02%	-3.40%
Max Drawdown (1Y) Largest decline over 1 year	-4.77%	-5.03%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-4.77%	-8.09%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	-11.88%	-14.52%	+2.64%
Current Drawdown Current decline from peak	-2.20%	-7.24%	+5.04%
Average Drawdown Average peak-to-trough decline	-8.77%	-9.25%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	2.14%	-0.52%

Volatility

EMLO.L vs. EMIG.L - Volatility Comparison

UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) has a higher volatility of 1.98% compared to UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L) at 1.49%. This indicates that EMLO.L's price experiences larger fluctuations and is considered to be riskier than EMIG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLO.L	EMIG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.98%	1.49%	+0.49%
Volatility (6M) Calculated over the trailing 6-month period	4.87%	4.31%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	5.81%	5.82%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.65%	8.28%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.55%	9.47%	-0.92%

EMLO.L vs. EMIG.L - Expense Ratio Comparison

EMLO.L has a 0.47% expense ratio, which is higher than EMIG.L's 0.45% expense ratio.

Dividends

EMLO.L vs. EMIG.L - Dividend Comparison

EMLO.L's dividend yield for the trailing twelve months is around 5.51%, while EMIG.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EMIG.L UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	5.51%	5.66%	5.13%	4.54%	4.40%	4.95%	4.94%	5.12%

Frequently Asked Questions

Can I hold both EMLO.L and EMIG.L in my portfolio?

EMLO.L and EMIG.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMLO.L or EMIG.L?

On fees, EMIG.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMLO.L or EMIG.L?

EMIG.L is cheaper with a 0.45% expense ratio, compared with 0.47% for EMLO.L.

What is the main difference between EMLO.L and EMIG.L?

EMLO.L tracks JPM GBI-EM Global Diversified TR USD, while EMIG.L tracks JPM EMBI Global Diversified TR USD. Their fees differ too: 0.47% for EMLO.L and 0.45% for EMIG.L.