FSEM.L vs. VDET.L
FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) and VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds. FSEM.L is actively managed, while VDET.L is passively managed. Over the past 5 years, FSEM.L returned 1.53%/yr vs 2.30%/yr for VDET.L. A 0.75 correlation means they provide meaningful diversification when combined. FSEM.L charges 0.45%/yr vs 0.23%/yr for VDET.L.
Performance
FSEM.L vs. VDET.L - Performance Comparison
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Returns By Period
In the year-to-date period, FSEM.L achieves a 2.90% return, which is significantly higher than VDET.L's 1.31% return.
FSEM.L
- 1D
- 0.09%
- 1M
- 0.89%
- YTD
- 2.90%
- 6M
- 3.45%
- 1Y
- 12.53%
- 3Y*
- 8.81%
- 5Y*
- 1.53%
- 10Y*
- —
VDET.L
- 1D
- -0.02%
- 1M
- 0.71%
- YTD
- 1.31%
- 6M
- 1.85%
- 1Y
- 9.46%
- 3Y*
- 8.79%
- 5Y*
- 2.30%
- 10Y*
- —
FSEM.L vs. VDET.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 2.90% | 13.32% | 3.51% | 8.82% | -17.90% | 2.49% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.31% | 11.70% | 6.40% | 9.41% | -15.27% | 2.87% |
Correlation
The correlation between FSEM.L and VDET.L is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.75 |
The correlation between FSEM.L and VDET.L has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
FSEM.L vs. VDET.L — Risk / Return Rank
FSEM.L
VDET.L
FSEM.L vs. VDET.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 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.
| FSEM.L | VDET.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.38 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.65 | +0.46 |
| Martin ratioReturn relative to average drawdown | 11.25 | 10.75 | +0.50 |
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 | VDET.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.96 | 2.00 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.32 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.45 | -0.22 |
Drawdowns
FSEM.L vs. VDET.L - Drawdown Comparison
The maximum FSEM.L drawdown since its inception was -28.00%, which is greater than VDET.L's maximum drawdown of -24.09%. Use the drawdown chart below to compare losses from any high point for FSEM.L and VDET.L.
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Drawdown Indicators
| FSEM.L | VDET.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.00% | -24.09% | -3.91% |
Max Drawdown (1Y)Largest decline over 1 year | -4.02% | -3.56% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -7.09% | -6.04% | -1.05% |
Max Drawdown (5Y)Largest decline over 5 years | -28.00% | -24.09% | -3.91% |
Current DrawdownCurrent decline from peak | -1.00% | -0.22% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -10.21% | -4.96% | -5.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.11% | 0.88% | +0.23% |
Volatility
FSEM.L vs. VDET.L - Volatility Comparison
Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a higher volatility of 2.72% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) at 1.79%. This indicates that FSEM.L's price experiences larger fluctuations and is considered to be riskier than VDET.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 | VDET.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.72% | 1.79% | +0.93% |
Volatility (6M)Calculated over the trailing 6-month period | 5.22% | 3.72% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.39% | 4.72% | +1.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.58% | 7.17% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.47% | 7.70% | +0.77% |
FSEM.L vs. VDET.L - Expense Ratio Comparison
FSEM.L has a 0.45% expense ratio, which is higher than VDET.L's 0.23% expense ratio.
Dividends
FSEM.L vs. VDET.L - Dividend Comparison
FSEM.L's dividend yield for the trailing twelve months is around 7.90%, more than VDET.L's 5.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% | 0.00% | 0.00% | 0.00% | 0.00% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.91% | 6.03% | 5.84% | 5.44% | 5.01% | 3.89% | 4.19% | 4.32% | 4.61% | 4.59% |
Frequently Asked Questions
FSEM.L and VDET.L have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
VDET.L is cheaper with a 0.23% expense ratio, compared with 0.45% for FSEM.L.
They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.45% for FSEM.L and 0.23% for VDET.L.
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