EMLP.L vs. VEMT.L
EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) and VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - EMLP.L tracks the JPM GBI-EM Global Diversified TR USD while VEMT.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 3.40%/yr for VEMT.L. A 0.65 correlation means they provide meaningful diversification when combined. EMLP.L charges 0.61%/yr vs 0.25%/yr for VEMT.L.
Performance
EMLP.L vs. VEMT.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EMLP.L having a 1.51% return and VEMT.L slightly higher at 1.55%.
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%
VEMT.L
- 1D
- 0.03%
- 1M
- 1.60%
- YTD
- 1.55%
- 6M
- 1.13%
- 1Y
- 10.55%
- 3Y*
- 5.98%
- 5Y*
- 3.40%
- 10Y*
- —
EMLP.L vs. VEMT.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% | 2.43% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.55% | 4.07% | 8.08% | 3.44% | -5.19% | -0.56% | 2.53% | 9.67% | 2.79% | -1.59% |
Correlation
The correlation between EMLP.L and VEMT.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.65 |
The correlation between EMLP.L and VEMT.L shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMLP.L vs. VEMT.L — Risk / Return Rank
EMLP.L
VEMT.L
EMLP.L vs. VEMT.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.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 | VEMT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.44 | -0.19 |
| Martin ratioReturn relative to average drawdown | 6.49 | 6.86 | -0.37 |
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
| EMLP.L | VEMT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.79 | 1.72 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.42 | +0.13 |
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 | 0.30 | +0.02 |
Drawdowns
EMLP.L vs. VEMT.L - Drawdown Comparison
The maximum EMLP.L drawdown since its inception was -20.02%, which is greater than VEMT.L's maximum drawdown of -14.64%. Use the drawdown chart below to compare losses from any high point for EMLP.L and VEMT.L.
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Drawdown Indicators
| EMLP.L | VEMT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.02% | -14.64% | -5.38% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -4.31% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -8.59% | +3.69% |
Max Drawdown (5Y)Largest decline over 5 years | -11.25% | -11.41% | +0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -19.12% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | -0.50% | -1.83% |
Average DrawdownAverage peak-to-trough decline | -6.09% | -5.88% | -0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.49% | 1.53% | -0.04% |
Volatility
EMLP.L vs. VEMT.L - Volatility Comparison
PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) has a higher volatility of 1.50% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) at 1.33%. This indicates that EMLP.L's price experiences larger fluctuations and is considered to be riskier than VEMT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP.L | VEMT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.50% | 1.33% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.23% | 4.50% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.40% | 6.11% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.09% | 8.13% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.52% | 9.15% | +0.37% |
EMLP.L vs. VEMT.L - Expense Ratio Comparison
EMLP.L has a 0.61% expense ratio, which is higher than VEMT.L's 0.25% expense ratio.
Dividends
EMLP.L vs. VEMT.L - Dividend Comparison
EMLP.L has not paid dividends to shareholders, while VEMT.L's dividend yield for the trailing twelve months is around 5.92%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.44% | 4.81% |
Frequently Asked Questions
EMLP.L and VEMT.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMT.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMT.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 VEMT.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: PIMCO and Vanguard. Their fees differ too: 0.61% for EMLP.L and 0.25% for VEMT.L.
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