FSEM.L vs. SEML.L
FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) and SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) are both Emerging Markets Bonds funds. FSEM.L is actively managed, while SEML.L is passively managed. Over the past 5 years, FSEM.L returned 1.51%/yr vs -4.41%/yr for SEML.L. At a 0.41 correlation, their price movements are largely independent. FSEM.L charges 0.45%/yr vs 0.50%/yr for SEML.L.
Performance
FSEM.L vs. SEML.L - Performance Comparison
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Different Trading Currencies
FSEM.L is traded in USD, while SEML.L is traded in GBP. To make them comparable, the SEML.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, FSEM.L achieves a 2.80% return, which is significantly higher than SEML.L's -3.39% 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*
- —
SEML.L
- 1D
- -0.41%
- 1M
- 0.44%
- YTD
- -3.39%
- 6M
- -2.47%
- 1Y
- 2.25%
- 3Y*
- 1.09%
- 5Y*
- -4.41%
- 10Y*
- -3.12%
FSEM.L vs. SEML.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% |
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | -3.39% | 12.19% | -7.96% | 5.52% | -15.44% | -4.68% |
Correlation
The correlation between FSEM.L and SEML.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.41 |
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Return for Risk
FSEM.L vs. SEML.L — Risk / Return Rank
FSEM.L
SEML.L
FSEM.L vs. SEML.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 iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.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 | SEML.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.06 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 3.19 | 0.35 | +2.84 |
| Martin ratioReturn relative to average drawdown | 11.58 | 0.92 | +10.66 |
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 | SEML.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.01 | 0.27 | +1.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.43 | +0.61 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | -0.35 | +0.57 |
Drawdowns
FSEM.L vs. SEML.L - Drawdown Comparison
The maximum FSEM.L drawdown since its inception was -28.00%, smaller than the maximum SEML.L drawdown of -75.25%. Use the drawdown chart below to compare losses from any high point for FSEM.L and SEML.L.
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Drawdown Indicators
| FSEM.L | SEML.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.00% | -75.25% | +47.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -6.39% | +2.37% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | -11.26% | +4.17% |
Max Drawdown (5Y)Largest decline over 5 years | -28.00% | -32.06% | +4.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.25% | — |
Current DrawdownCurrent decline from peak | -1.09% | -71.04% | +69.95% |
Average DrawdownAverage peak-to-trough decline | -10.21% | -60.50% | +50.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 2.43% | -1.32% |
Volatility
FSEM.L vs. SEML.L - Volatility Comparison
Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a higher volatility of 2.73% compared to iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) at 2.35%. This indicates that FSEM.L's price experiences larger fluctuations and is considered to be riskier than SEML.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 | SEML.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 2.35% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 5.22% | 6.97% | -1.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.39% | 8.38% | -1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.58% | 10.17% | -1.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.48% | 10.75% | -2.27% |
FSEM.L vs. SEML.L - Expense Ratio Comparison
FSEM.L has a 0.45% expense ratio, which is lower than SEML.L's 0.50% expense ratio.
Dividends
FSEM.L vs. SEML.L - Dividend Comparison
FSEM.L's dividend yield for the trailing twelve months is around 7.91%, more than SEML.L's 0.03% 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% |
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | 0.03% | 0.05% | 0.06% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.03% |
Frequently Asked Questions
FSEM.L and SEML.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FSEM.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FSEM.L is cheaper with a 0.45% expense ratio, compared with 0.50% for SEML.L.
They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.45% for FSEM.L and 0.50% for SEML.L.
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