FSEM.L vs. LEMB.L
FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) and LEMB.L (Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist) are both Emerging Markets Bonds funds. FSEM.L is actively managed, while LEMB.L is passively managed. Over the past 5 years, FSEM.L returned 1.51%/yr vs 1.11%/yr for LEMB.L. A 0.77 correlation means they provide meaningful diversification when combined. FSEM.L charges 0.45%/yr vs 0.30%/yr for LEMB.L.
Performance
FSEM.L vs. LEMB.L - Performance Comparison
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Returns By Period
In the year-to-date period, FSEM.L achieves a 2.80% return, which is significantly higher than LEMB.L's 1.54% return.
FSEM.L
- 1D
- -0.19%
- 1M
- 0.55%
- YTD
- 2.80%
- 6M
- 3.31%
- 1Y
- 12.88%
- 3Y*
- 8.73%
- 5Y*
- 1.51%
- 10Y*
- —
LEMB.L
- 1D
- -0.27%
- 1M
- 0.55%
- YTD
- 1.54%
- 6M
- 1.85%
- 1Y
- 10.91%
- 3Y*
- 7.31%
- 5Y*
- 1.11%
- 10Y*
- 2.21%
FSEM.L vs. LEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 2.80% | 13.32% | 3.51% | 8.82% | -17.90% | 2.49% |
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 1.54% | 12.48% | 0.66% | 9.26% | -16.61% | 4.58% |
Correlation
The correlation between FSEM.L and LEMB.L is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.77 |
The correlation between FSEM.L and LEMB.L has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
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Return for Risk
FSEM.L vs. LEMB.L — Risk / Return Rank
FSEM.L
LEMB.L
FSEM.L vs. LEMB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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.
| FSEM.L | LEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.40 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 2.91 | +0.29 |
| Martin ratioReturn relative to average drawdown | 11.58 | 11.62 | -0.04 |
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
| FSEM.L | LEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 2.07 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.12 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.22 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.31 | -0.08 |
Drawdowns
FSEM.L vs. LEMB.L - Drawdown Comparison
The maximum FSEM.L drawdown since its inception was -28.00%, roughly equal to the maximum LEMB.L drawdown of -27.40%. Use the drawdown chart below to compare losses from any high point for FSEM.L and LEMB.L.
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Drawdown Indicators
| FSEM.L | LEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.00% | -27.40% | -0.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -3.74% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | -8.59% | +1.50% |
Max Drawdown (5Y)Largest decline over 5 years | -28.00% | -26.85% | -1.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.40% | — |
Current DrawdownCurrent decline from peak | -1.09% | -0.27% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -10.21% | -7.90% | -2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.94% | +0.17% |
Volatility
FSEM.L vs. LEMB.L - Volatility Comparison
Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a higher volatility of 2.73% compared to Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.L) at 2.05%. This indicates that FSEM.L's price experiences larger fluctuations and is considered to be riskier than LEMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSEM.L | LEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.05% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 5.22% | 4.20% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.39% | 5.26% | +1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.58% | 8.89% | -0.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.48% | 10.18% | -1.70% |
FSEM.L vs. LEMB.L - Expense Ratio Comparison
FSEM.L has a 0.45% expense ratio, which is higher than LEMB.L's 0.30% expense ratio.
Dividends
FSEM.L vs. LEMB.L - Dividend Comparison
FSEM.L's dividend yield for the trailing twelve months is around 7.91%, more than LEMB.L's 5.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.91% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 5.21% | 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
FSEM.L and LEMB.L have a correlation of 0.83, 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 FSEM.L.
They also come from different issuers: Fidelity and Amundi. Their fees differ too: 0.45% for FSEM.L and 0.30% for LEMB.L.
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