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EMLO.L vs. JPEE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMLO.L vs. JPEE.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 JPEE.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) are both Emerging Markets Bonds funds - EMLO.L tracks the JPM GBI-EM Global Diversified TR USD while JPEE.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 3.04%/yr for JPEE.L. A 0.53 correlation means they provide meaningful diversification when combined. EMLO.L charges 0.47%/yr vs 0.45%/yr for JPEE.L.

Performance

EMLO.L vs. JPEE.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 iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

EMLO.L is traded in GBp, while JPEE.L is traded in EUR. To make them comparable, the JPEE.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 JPEE.L's 2.18% 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*
—

JPEE.L

1D
0.21%
1M
2.02%
YTD
2.18%
6M
1.68%
1Y
12.52%
3Y*
7.00%
5Y*
3.04%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021202020192018
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%
JPEE.L
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)		2.18%6.06%7.50%4.43%-8.96%-0.44%1.97%11.44%3.02%

Correlation

The correlation between EMLO.L and JPEE.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

0.56

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (All Time)
Calculated using the full available price history since Sep 12, 2018

0.53

The correlation between EMLO.L and JPEE.L has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis

iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)

Often compared with EMLO.L:
EMLO.L vs. JMBP.LEMLO.L vs. EMGB.LEMLO.L vs. SBEM.LEMLO.L vs. SEML.LEMLO.L vs. EMDL.LEMLO.L vs. VEMA.LEMLO.L vs. EMBE.L
Often compared with JPEE.L:
JPEE.L vs. CEMBJPEE.L vs. VDEM.LJPEE.L vs. EUNA.DEJPEE.L vs. SXR8.DEJPEE.L vs. BNDXJPEE.L vs. GLDJPEE.L vs. EMDG.L

Return for Risk

EMLO.L vs. JPEE.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: 5858
Overall Rank
EMLO.L Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
EMLO.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
EMLO.L Omega Ratio Rank: 6363
Omega Ratio Rank
EMLO.L Calmar Ratio Rank: 5252
Calmar Ratio Rank
EMLO.L Martin Ratio Rank: 4646
Martin Ratio Rank
JPEE.L
JPEE.L Risk / Return Rank: 5252
Overall Rank
JPEE.L Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
JPEE.L Sortino Ratio Rank: 5050
Sortino Ratio Rank
JPEE.L Omega Ratio Rank: 4949
Omega Ratio Rank
JPEE.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
JPEE.L Martin Ratio Rank: 5353
Martin Ratio Rank
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. JPEE.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 iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.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.LJPEE.LDifference
Sharpe ratioReturn per unit of total volatility
2.06
2.05

+0.01

Sortino ratioReturn per unit of downside risk
3.00
3.10

-0.10

Omega ratioGain probability vs. loss probability

1.38

1.37

0.00

Calmar ratioReturn relative to maximum drawdown

2.51

3.09

-0.59

Martin ratioReturn relative to average drawdown

7.38

8.78

-1.40

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. JPEE.L - Sharpe Ratio Comparison

The current EMLO.L Sharpe Ratio is 2.06, which is comparable to the JPEE.L Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of EMLO.L and JPEE.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.

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Sharpe Ratios by Period

EMLO.LJPEE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.06

2.05

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.34

+0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.28

+0.12

Drawdowns

EMLO.L vs. JPEE.L - Drawdown Comparison

The maximum EMLO.L drawdown since its inception was -20.42%, roughly equal to the maximum JPEE.L drawdown of -19.75%. Use the drawdown chart below to compare losses from any high point for EMLO.L and JPEE.L.

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Drawdown Indicators

EMLO.LJPEE.LDifference

Max Drawdown

Largest peak-to-trough decline

-20.42%

-19.75%

-0.67%

Max Drawdown (1Y)

Largest decline over 1 year

-4.77%

-4.03%

-0.74%

Max Drawdown (3Y)

Largest decline over 3 years

-4.77%

-8.89%

+4.12%

Max Drawdown (5Y)

Largest decline over 5 years

-11.88%

-14.29%

+2.41%

Current Drawdown

Current decline from peak

-2.20%

0.00%

-2.20%

Average Drawdown

Average peak-to-trough decline

-8.77%

-7.47%

-1.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.62%

1.42%

+0.20%

Volatility

EMLO.L vs. JPEE.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 iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (JPEE.L) at 1.81%. This indicates that EMLO.L's price experiences larger fluctuations and is considered to be riskier than JPEE.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.LJPEE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.98%

1.81%

+0.17%

Volatility (6M)

Calculated over the trailing 6-month period

4.87%

4.39%

+0.48%

Volatility (1Y)

Calculated over the trailing 1-year period

5.81%

6.08%

-0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.65%

8.90%

-1.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.55%

10.20%

-1.65%

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

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

Dividends

EMLO.L vs. JPEE.L - Dividend Comparison

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

PositionTTM2025202420232022202120202019
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%
JPEE.L
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EMLO.L and JPEE.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.

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

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

EMLO.L tracks JPM GBI-EM Global Diversified TR USD, while JPEE.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: UBS and iShares. Their fees differ too: 0.47% for EMLO.L and 0.45% for JPEE.L.

Portfolio Optimizer

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