EMUS.L vs. VDET.L

Last updated Jul 18, 2026

EMUS.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist)) and VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - EMUS.L tracks the J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index while VDET.L tracks the Bloomberg EM USD Sovereign + Quasi-Sov Index. Both are passively managed. Over the past 5 years, EMUS.L returned 1.05%/yr vs 2.13%/yr for VDET.L. A 0.68 correlation means they provide meaningful diversification when combined. EMUS.L charges 0.35%/yr vs 0.23%/yr for VDET.L.

Performance

EMUS.L vs. VDET.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) (EMUS.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMUS.L achieves a -1.60% return, which is significantly lower than VDET.L's 1.30% return.

EMUS.L

• 1D: 0.24%
• 1M: -0.36%
• 6M: 0.90%
• YTD: -1.60%
• 1Y: 2.31%
• 3Y*: 5.28%
• 5Y*: 1.05%
• 10Y*: —

VDET.L

• 1D: 0.09%
• 1M: -0.52%
• 6M: 1.37%
• YTD: 1.30%
• 1Y: 8.14%
• 3Y*: 7.97%
• 5Y*: 2.13%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EMUS.L vs. VDET.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EMUS.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist)	-1.60%	8.01%	5.52%	7.02%	-11.63%	0.86%
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing	1.30%	11.70%	6.40%	9.42%	-15.28%	-0.25%

Correlation

The correlation between EMUS.L and VDET.L is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 15, 2021	0.68

The correlation between EMUS.L and VDET.L shifts across timeframes, from 0.59 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EMUS.L vs. VDET.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMUS.L

EMUS.L Risk / Return Rank: 19
EMUS.L Sharpe Ratio Rank: 20
EMUS.L Sortino Ratio Rank: 18
EMUS.L Omega Ratio Rank: 22
EMUS.L Calmar Ratio Rank: 18
EMUS.L Martin Ratio Rank: 18

VDET.L

VDET.L Risk / Return Rank: 71
VDET.L Sharpe Ratio Rank: 71
VDET.L Sortino Ratio Rank: 79
VDET.L Omega Ratio Rank: 74
VDET.L Calmar Ratio Rank: 61
VDET.L Martin Ratio Rank: 69

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.

EMUS.L vs. VDET.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) (EMUS.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EMUS.L	VDET.L	Difference
Sharpe ratio: Return per unit of total volatility	0.51	1.72	-1.21
Sortino ratio: Return per unit of downside risk	0.71	2.70	-1.99
Omega ratio: Gain probability vs. loss probability	1.12	1.33	-0.21
Calmar ratio: Return relative to maximum drawdown	0.50	2.29	-1.78
Martin ratio: Return relative to average drawdown	1.32	9.22	-7.89

EMUS.L vs. VDET.L - Sharpe Ratio Comparison

The current EMUS.L Sharpe Ratio is 0.51, which is lower than the VDET.L Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of EMUS.L and VDET.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.

Drawdowns

EMUS.L vs. VDET.L - Drawdown Comparison

The maximum EMUS.L drawdown since its inception was -19.58%, smaller than the maximum VDET.L drawdown of -24.10%. Use the drawdown chart below to compare losses from any high point for EMUS.L and VDET.L.

Drawdown Indicators

	EMUS.L	VDET.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.58%	-24.10%	+4.52%
Max Drawdown (1Y) Largest decline over 1 year	-4.59%	-3.55%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	-4.59%	-6.04%	+1.45%
Max Drawdown (5Y) Largest decline over 5 years	-19.58%	-24.10%	+4.52%
Current Drawdown Current decline from peak	-1.93%	-0.70%	-1.23%
Average Drawdown Average peak-to-trough decline	-5.63%	-4.89%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	0.88%	+0.86%

Volatility

EMUS.L vs. VDET.L - Volatility Comparison

L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist) (EMUS.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) have volatilities of 0.89% and 0.85%, 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.

Volatility by Period

	EMUS.L	VDET.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.89%	0.85%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	3.46%	3.77%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	4.56%	4.74%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.30%	7.18%	-1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.29%	7.66%	-2.37%

EMUS.L vs. VDET.L - Expense Ratio Comparison

EMUS.L has a 0.35% expense ratio, which is higher than VDET.L's 0.23% expense ratio.

Dividends

EMUS.L vs. VDET.L - Dividend Comparison

EMUS.L's dividend yield for the trailing twelve months is around 2.79%, less than VDET.L's 5.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMUS.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Dist)	2.79%	5.39%	4.96%	4.62%	3.79%	1.17%	0.00%	0.00%	0.00%	0.00%
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing	5.85%	6.03%	5.84%	5.44%	5.01%	3.89%	4.19%	4.32%	4.61%	4.59%

Frequently Asked Questions

Can I hold both EMUS.L and VDET.L in my portfolio?

EMUS.L and VDET.L have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMUS.L or VDET.L?

On fees, VDET.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMUS.L or VDET.L?

VDET.L is cheaper with a 0.23% expense ratio, compared with 0.35% for EMUS.L.

What is the main difference between EMUS.L and VDET.L?

EMUS.L tracks J.P. Morgan ESG CEMBI Broad Diversified Custom Maturity Index, while VDET.L tracks Bloomberg EM USD Sovereign + Quasi-Sov Index. They also come from different issuers: L&G and Vanguard. Their fees differ too: 0.35% for EMUS.L and 0.23% for VDET.L.