EMLO.L vs. EUFM.L
EMLO.L (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) and EUFM.L (UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc) are both exchange-traded funds - EMLO.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while EUFM.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, EMLO.L returned 3.09%/yr vs 9.69%/yr for EUFM.L. At a 0.30 correlation, their price movements are largely independent. EMLO.L charges 0.47%/yr vs 0.34%/yr for EUFM.L.
Performance
EMLO.L vs. EUFM.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMLO.L achieves a 1.29% return, which is significantly lower than EUFM.L's 6.74% 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*
- —
EUFM.L
- 1D
- 0.21%
- 1M
- 2.81%
- YTD
- 6.74%
- 6M
- 8.89%
- 1Y
- 16.80%
- 3Y*
- 15.42%
- 5Y*
- 9.69%
- 10Y*
- —
EMLO.L vs. EUFM.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% |
EUFM.L UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc | 6.74% | 29.59% | 3.25% | 15.45% | -7.82% | 13.50% | 5.84% | 19.11% | -11.41% |
Correlation
The correlation between EMLO.L and EUFM.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.30 |
The correlation between EMLO.L and EUFM.L shifts across timeframes, from 0.18 (5 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMLO.L vs. EUFM.L — Risk / Return Rank
EMLO.L
EUFM.L
EMLO.L vs. EUFM.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 (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc (EUFM.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 | EUFM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.26 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 1.58 | +0.93 |
| Martin ratioReturn relative to average drawdown | 7.38 | 5.69 | +1.69 |
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 | EUFM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.06 | 1.36 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.67 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.53 | -0.14 |
Drawdowns
EMLO.L vs. EUFM.L - Drawdown Comparison
The maximum EMLO.L drawdown since its inception was -20.42%, smaller than the maximum EUFM.L drawdown of -30.14%. Use the drawdown chart below to compare losses from any high point for EMLO.L and EUFM.L.
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Drawdown Indicators
| EMLO.L | EUFM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.42% | -30.14% | +9.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.77% | -10.59% | +5.82% |
Max Drawdown (3Y)Largest decline over 3 years | -4.77% | -11.90% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -20.86% | +8.98% |
Current DrawdownCurrent decline from peak | -2.20% | -1.07% | -1.13% |
Average DrawdownAverage peak-to-trough decline | -8.77% | -5.19% | -3.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.62% | 2.95% | -1.33% |
Volatility
EMLO.L vs. EUFM.L - Volatility Comparison
The current volatility for UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) is 1.98%, while UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc (EUFM.L) has a volatility of 4.00%. This indicates that EMLO.L experiences smaller price fluctuations and is considered to be less risky than EUFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLO.L | EUFM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 4.00% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 4.87% | 10.33% | -5.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.81% | 12.33% | -6.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.65% | 14.53% | -6.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.55% | 16.13% | -7.58% |
EMLO.L vs. EUFM.L - Expense Ratio Comparison
EMLO.L has a 0.47% expense ratio, which is higher than EUFM.L's 0.34% expense ratio.
Dividends
EMLO.L vs. EUFM.L - Dividend Comparison
EMLO.L's dividend yield for the trailing twelve months is around 5.51%, while EUFM.L has not paid dividends to shareholders.
| Position | TTM | 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 | 5.51% | 5.66% | 5.13% | 4.54% | 4.40% | 4.95% | 4.94% | 5.12% |
EUFM.L UBS (Lux) Fund Solutions – MSCI EMU Select Factor Mix UCITS ETF(EUR)A-acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLO.L and EUFM.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EUFM.L is cheaper at 0.34% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EUFM.L is cheaper with a 0.34% expense ratio, compared with 0.47% for EMLO.L.
EMLO.L is categorized as Emerging Markets Bonds, while EUFM.L is Europe Equities. EMLO.L tracks JPM GBI-EM Global Diversified TR USD, while EUFM.L tracks MSCI EMU NR EUR. Their fees differ too: 0.47% for EMLO.L and 0.34% for EUFM.L.
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