IEMB.L vs. EMAU.L
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and EMAU.L (L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds. Over the past 3 years, IEMB.L returned 8.70%/yr vs 6.29%/yr for EMAU.L. A 0.71 correlation means they provide meaningful diversification when combined. IEMB.L charges 0.45%/yr vs 0.35%/yr for EMAU.L.
Performance
IEMB.L vs. EMAU.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEMB.L achieves a 1.65% return, which is significantly higher than EMAU.L's 1.29% return.
IEMB.L
- 1D
- -0.03%
- 1M
- -0.61%
- 6M
- 1.98%
- YTD
- 1.65%
- 1Y
- 10.02%
- 3Y*
- 8.70%
- 5Y*
- 1.75%
- 10Y*
- 2.92%
EMAU.L
- 1D
- 0.00%
- 1M
- -0.27%
- 6M
- 0.92%
- YTD
- 1.29%
- 1Y
- 5.57%
- 3Y*
- 6.29%
- 5Y*
- —
- 10Y*
- —
IEMB.L vs. EMAU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.65% | 13.71% | 5.70% | 10.54% | -18.35% | -1.19% |
EMAU.L L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) | 1.29% | 8.06% | 5.68% | 6.84% | -11.34% | -1.23% |
Correlation
The correlation between IEMB.L and EMAU.L is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2021 | 0.71 |
The correlation between IEMB.L and EMAU.L has been stable across timeframes, ranging from 0.70 to 0.74 - a consistent structural relationship.
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Return for Risk
IEMB.L vs. EMAU.L — Risk / Return Rank
IEMB.L
EMAU.L
IEMB.L vs. EMAU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) and L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.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.
| IEMB.L | EMAU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.31 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.18 | +0.13 |
| Martin ratioReturn relative to average drawdown | 9.59 | 9.66 | -0.07 |
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Drawdowns
IEMB.L vs. EMAU.L - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -31.65%, which is greater than EMAU.L's maximum drawdown of -19.62%. Use the drawdown chart below to compare losses from any high point for IEMB.L and EMAU.L.
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Drawdown Indicators
| IEMB.L | EMAU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.65% | -19.62% | -12.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -2.55% | -1.77% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -3.01% | -4.53% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | — | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.27% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -5.68% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.57% | +0.47% |
Volatility
IEMB.L vs. EMAU.L - Volatility Comparison
iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a higher volatility of 1.10% compared to L&G Emerging Markets Corporate Bond (USD) Screened UCITS ETF USD (Acc) (EMAU.L) at 0.85%. This indicates that IEMB.L's price experiences larger fluctuations and is considered to be riskier than EMAU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMB.L | EMAU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.10% | 0.85% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 5.03% | 2.81% | +2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 3.39% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.89% | 5.58% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 5.58% | +3.66% |
IEMB.L vs. EMAU.L - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is higher than EMAU.L's 0.35% expense ratio.
Dividends
IEMB.L vs. EMAU.L - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.77%, while EMAU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMAU.L L&G Emerging Markets Corporate Bond (USD) Screened 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% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 5.77% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
Frequently Asked Questions
IEMB.L and EMAU.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMAU.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMAU.L is cheaper with a 0.35% expense ratio, compared with 0.45% for IEMB.L.
They also come from different issuers: iShares and L&G. Their fees differ too: 0.45% for IEMB.L and 0.35% for EMAU.L.
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