EMSA.L vs. LEMB.L
EMSA.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc)) and LEMB.L (Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 5 years, EMSA.L returned 1.36%/yr vs 1.16%/yr for LEMB.L. Their correlation of 0.86 suggests significant overlap in exposure. EMSA.L charges 0.45%/yr vs 0.30%/yr for LEMB.L.
Performance
EMSA.L vs. LEMB.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMSA.L achieves a 1.61% return, which is significantly lower than LEMB.L's 1.79% return.
EMSA.L
- 1D
- 0.20%
- 1M
- 1.06%
- YTD
- 1.61%
- 6M
- 2.19%
- 1Y
- 10.63%
- 3Y*
- 9.08%
- 5Y*
- 1.36%
- 10Y*
- —
LEMB.L
- 1D
- 0.25%
- 1M
- 0.96%
- YTD
- 1.79%
- 6M
- 2.28%
- 1Y
- 10.73%
- 3Y*
- 7.40%
- 5Y*
- 1.16%
- 10Y*
- 2.19%
EMSA.L vs. LEMB.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% |
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 1.79% | 12.48% | 0.66% | 9.26% | -16.61% | -2.23% | 4.28% | 13.91% | 0.86% |
Correlation
The correlation between EMSA.L and LEMB.L is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.86 |
The correlation between EMSA.L and LEMB.L has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.
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Return for Risk
EMSA.L vs. LEMB.L — Risk / Return Rank
EMSA.L
LEMB.L
EMSA.L vs. LEMB.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 Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.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 | LEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.39 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.86 | -0.40 |
| Martin ratioReturn relative to average drawdown | 10.09 | 11.44 | -1.35 |
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 | LEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 2.04 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.13 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.31 | +0.02 |
Drawdowns
EMSA.L vs. LEMB.L - Drawdown Comparison
The maximum EMSA.L drawdown since its inception was -29.12%, which is greater than LEMB.L's maximum drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for EMSA.L and LEMB.L.
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Drawdown Indicators
| EMSA.L | LEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.12% | -27.40% | -1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -4.29% | -3.74% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -7.28% | -8.59% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -26.85% | -2.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.40% | — |
Current DrawdownCurrent decline from peak | -0.22% | -0.02% | -0.20% |
Average DrawdownAverage peak-to-trough decline | -8.06% | -7.90% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.94% | +0.11% |
Volatility
EMSA.L vs. LEMB.L - Volatility Comparison
iShares J.P. Morgan ESG USD EM Bond UCITS ETF USD (Acc) (EMSA.L) and Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.L) have volatilities of 2.09% and 2.05%, 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 | LEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.09% | 2.05% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.47% | 4.20% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.49% | 5.25% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.46% | 8.89% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.76% | 10.18% | -0.42% |
EMSA.L vs. LEMB.L - Expense Ratio Comparison
EMSA.L has a 0.45% expense ratio, which is higher than LEMB.L's 0.30% expense ratio.
Dividends
EMSA.L vs. LEMB.L - Dividend Comparison
EMSA.L has not paid dividends to shareholders, while LEMB.L's dividend yield for the trailing twelve months is around 5.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 5.20% | 5.29% | 3.59% | 5.90% | 5.73% | 4.49% | 4.12% | 5.12% | 5.18% | 5.14% | 5.41% | 6.69% |
Frequently Asked Questions
EMSA.L and LEMB.L have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LEMB.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LEMB.L is cheaper with a 0.30% expense ratio, compared with 0.45% for EMSA.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.45% for EMSA.L and 0.30% for LEMB.L.
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