EMSA.L vs. EMLI.L
EMSA.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc)) and EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) are both Emerging Markets Bonds funds - EMSA.L tracks the JPM EMBI Global Diversified TR USD while EMLI.L tracks the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 5 years, EMSA.L returned 1.36%/yr vs 3.30%/yr for EMLI.L. A 0.52 correlation means they provide meaningful diversification when combined. EMSA.L charges 0.45%/yr vs 0.61%/yr for EMLI.L.
Performance
EMSA.L vs. EMLI.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EMSA.L having a 1.61% return and EMLI.L slightly higher at 1.64%.
EMSA.L
- 1D
- 0.20%
- 1M
- 1.06%
- YTD
- 1.61%
- 6M
- 2.19%
- 1Y
- 10.63%
- 3Y*
- 9.08%
- 5Y*
- 1.36%
- 10Y*
- —
EMLI.L
- 1D
- -0.27%
- 1M
- -0.41%
- YTD
- 1.64%
- 6M
- 1.64%
- 1Y
- 8.36%
- 3Y*
- 6.38%
- 5Y*
- 3.30%
- 10Y*
- 3.23%
EMSA.L vs. EMLI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMSA.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) | 1.61% | 13.11% | 5.32% | 9.71% | -18.78% | -3.11% | 6.03% | 15.79% | -0.63% |
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 1.64% | 16.62% | -3.24% | 13.68% | -5.61% | -5.52% | 1.92% | 13.04% | 3.08% |
Correlation
The correlation between EMSA.L and EMLI.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 | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.52 |
The correlation between EMSA.L and EMLI.L has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.
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Return for Risk
EMSA.L vs. EMLI.L — Risk / Return Rank
EMSA.L
EMLI.L
EMSA.L vs. EMLI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.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.
| EMSA.L | EMLI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.25 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 1.47 | +1.00 |
| Martin ratioReturn relative to average drawdown | 10.09 | 5.23 | +4.86 |
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
| EMSA.L | EMLI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 1.29 | +0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.33 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.23 | +0.10 |
Drawdowns
EMSA.L vs. EMLI.L - Drawdown Comparison
The maximum EMSA.L drawdown since its inception was -29.12%, which is greater than EMLI.L's maximum drawdown of -25.62%. Use the drawdown chart below to compare losses from any high point for EMSA.L and EMLI.L.
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Drawdown Indicators
| EMSA.L | EMLI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.12% | -25.62% | -3.50% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -5.67% | +1.38% |
Max Drawdown (3Y)Largest decline over 3 years | -7.28% | -7.82% | +0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -19.52% | -9.39% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.08% | — |
Current DrawdownCurrent decline from peak | -0.22% | -2.80% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -8.06% | -7.31% | -0.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 1.59% | -0.54% |
Volatility
EMSA.L vs. EMLI.L - Volatility Comparison
iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.L) and PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) have volatilities of 2.09% and 2.02%, 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
| EMSA.L | EMLI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 2.02% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 5.40% | -0.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.49% | 6.49% | -1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.46% | 9.89% | -1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 9.59% | +0.17% |
EMSA.L vs. EMLI.L - Expense Ratio Comparison
EMSA.L has a 0.45% expense ratio, which is lower than EMLI.L's 0.61% expense ratio.
Dividends
EMSA.L vs. EMLI.L - Dividend Comparison
EMSA.L has not paid dividends to shareholders, while EMLI.L's dividend yield for the trailing twelve months is around 6.55%.
| 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% |
EMSA.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMSA.L and EMLI.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, EMSA.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMSA.L is cheaper with a 0.45% expense ratio, compared with 0.61% for EMLI.L.
EMSA.L tracks JPM EMBI Global Diversified TR USD, while EMLI.L tracks JPM GBI-EM Global Diversified TR USD. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.45% for EMSA.L and 0.61% for EMLI.L.
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