EMLO.L vs. EMLI.L
EMLO.L (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) are both Emerging Markets Bonds funds tracking the JPM GBI-EM Global Diversified TR USD, from UBS and PIMCO respectively. Both are passively managed. Over the past 5 years, EMLO.L returned 3.09%/yr vs 4.41%/yr for EMLI.L. A 0.60 correlation means they provide meaningful diversification when combined. EMLO.L charges 0.47%/yr vs 0.61%/yr for EMLI.L.
Performance
EMLO.L vs. EMLI.L - Performance Comparison
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Different Trading Currencies
EMLO.L is traded in GBp, while EMLI.L is traded in USD. To make them comparable, the EMLI.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMLO.L achieves a 1.29% return, which is significantly lower than EMLI.L's 2.05% 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*
- —
EMLI.L
- 1D
- -0.27%
- 1M
- 0.51%
- YTD
- 2.05%
- 6M
- 0.93%
- 1Y
- 9.41%
- 3Y*
- 3.71%
- 5Y*
- 4.41%
- 10Y*
- 4.00%
EMLO.L vs. EMLI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 9.65% | 8.46% |
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 2.05% | 8.31% | -1.55% | 8.00% | 5.61% | -4.62% | -1.08% | 8.74% | 8.57% |
Correlation
The correlation between EMLO.L and EMLI.L is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.60 |
The correlation between EMLO.L and EMLI.L has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
EMLO.L vs. EMLI.L — Risk / Return Rank
EMLO.L
EMLI.L
EMLO.L vs. EMLI.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 PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.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 | EMLI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.10 | +0.41 |
| Martin ratioReturn relative to average drawdown | 7.38 | 6.03 | +1.35 |
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
| EMLO.L | EMLI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.32 | +0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.43 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.35 | +0.05 |
Drawdowns
EMLO.L vs. EMLI.L - Drawdown Comparison
The maximum EMLO.L drawdown since its inception was -20.42%, roughly equal to the maximum EMLI.L drawdown of -20.70%. Use the drawdown chart below to compare losses from any high point for EMLO.L and EMLI.L.
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Drawdown Indicators
| EMLO.L | EMLI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.42% | -20.70% | +0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.77% | -4.47% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -4.66% | -0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -12.78% | +0.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.70% | — |
Current DrawdownCurrent decline from peak | -2.20% | -2.34% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -8.77% | -5.87% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 1.56% | +0.06% |
Volatility
EMLO.L vs. EMLI.L - Volatility Comparison
UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) and PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) have volatilities of 1.98% and 2.06%, 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
| EMLO.L | EMLI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 2.06% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 4.87% | 5.98% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 7.12% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.65% | 10.22% | -2.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.55% | 11.02% | -2.47% |
EMLO.L vs. EMLI.L - Expense Ratio Comparison
EMLO.L has a 0.47% expense ratio, which is lower than EMLI.L's 0.61% expense ratio.
Dividends
EMLO.L vs. EMLI.L - Dividend Comparison
EMLO.L's dividend yield for the trailing twelve months is around 5.51%, less than EMLI.L's 6.55% 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% |
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% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLO.L and EMLI.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMLO.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMLO.L is cheaper with a 0.47% expense ratio, compared with 0.61% for EMLI.L.
Both ETFs track JPM GBI-EM Global Diversified TR USD. They also come from different issuers: UBS and PIMCO. Their fees differ too: 0.47% for EMLO.L and 0.61% for EMLI.L.
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