EMLP.L vs. PEMD.L
EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) and PEMD.L (Invesco Emerging Markets USD Bond UCITS ETF Dist) are both Emerging Markets Bonds funds - EMLP.L tracks the JPM GBI-EM Global Diversified TR USD while PEMD.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMLP.L returned 4.40%/yr vs 3.39%/yr for PEMD.L. A 0.51 correlation means they provide meaningful diversification when combined. EMLP.L charges 0.61%/yr vs 0.25%/yr for PEMD.L.
Performance
EMLP.L vs. PEMD.L - Performance Comparison
Loading charts...
Different Trading Currencies
EMLP.L is traded in GBP, while PEMD.L is traded in USD. To make them comparable, the PEMD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMLP.L achieves a 1.51% return, which is significantly lower than PEMD.L's 2.00% return.
EMLP.L
- 1D
- -0.16%
- 1M
- 0.73%
- YTD
- 1.51%
- 6M
- 1.14%
- 1Y
- 9.68%
- 3Y*
- 3.69%
- 5Y*
- 4.40%
- 10Y*
- 3.99%
PEMD.L
- 1D
- 0.75%
- 1M
- 1.98%
- YTD
- 2.00%
- 6M
- 1.36%
- 1Y
- 11.17%
- 3Y*
- 6.74%
- 5Y*
- 3.39%
- 10Y*
- —
EMLP.L vs. PEMD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 1.51% | 9.10% | -1.68% | 7.52% | 5.55% | -4.33% | -1.55% | 9.55% | -1.46% | -0.32% |
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 2.00% | 4.77% | 8.05% | 5.06% | -6.65% | -1.65% | 2.16% | 8.95% | 1.13% | -1.10% |
Correlation
The correlation between EMLP.L and PEMD.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2017 | 0.51 |
The correlation between EMLP.L and PEMD.L has been stable across timeframes, ranging from 0.42 to 0.51 - 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.
Return for Risk
EMLP.L vs. PEMD.L — Risk / Return Rank
EMLP.L
PEMD.L
EMLP.L vs. PEMD.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 Acc (EMLP.L) and Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.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.
| EMLP.L | PEMD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.45 | -0.20 |
| Martin ratioReturn relative to average drawdown | 6.49 | 7.16 | -0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMLP.L | PEMD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.55 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.34 | +0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.21 | +0.12 |
Drawdowns
EMLP.L vs. PEMD.L - Drawdown Comparison
The maximum EMLP.L drawdown since its inception was -20.02%, which is greater than PEMD.L's maximum drawdown of -18.93%. Use the drawdown chart below to compare losses from any high point for EMLP.L and PEMD.L.
Loading charts...
Drawdown Indicators
| EMLP.L | PEMD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.02% | -18.93% | -1.09% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -4.54% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -9.01% | +4.11% |
Max Drawdown (5Y)Largest decline over 5 years | -11.25% | -13.78% | +2.53% |
Max Drawdown (10Y)Largest decline over 10 years | -19.12% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | -0.18% | -2.15% |
Average DrawdownAverage peak-to-trough decline | -6.09% | -7.55% | +1.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 1.56% | -0.07% |
Volatility
EMLP.L vs. PEMD.L - Volatility Comparison
The current volatility for PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) is 1.50%, while Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) has a volatility of 2.34%. This indicates that EMLP.L experiences smaller price fluctuations and is considered to be less risky than PEMD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMLP.L | PEMD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 2.34% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 5.60% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.40% | 7.22% | -1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 9.98% | -1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 12.31% | -2.79% |
EMLP.L vs. PEMD.L - Expense Ratio Comparison
EMLP.L has a 0.61% expense ratio, which is higher than PEMD.L's 0.25% expense ratio.
Dividends
EMLP.L vs. PEMD.L - Dividend Comparison
EMLP.L has not paid dividends to shareholders, while PEMD.L's dividend yield for the trailing twelve months is around 5.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 5.45% | 5.49% | 5.83% | 5.54% | 4.94% | 3.93% | 3.60% | 4.99% | 5.36% |
Frequently Asked Questions
EMLP.L and PEMD.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PEMD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PEMD.L is cheaper with a 0.25% expense ratio, compared with 0.61% for EMLP.L.
EMLP.L tracks JPM GBI-EM Global Diversified TR USD, while PEMD.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: PIMCO and Invesco. Their fees differ too: 0.61% for EMLP.L and 0.25% for PEMD.L.
Find the right allocation for EMLP.L and PEMD.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer