IEMB.L vs. EMGA.L
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds from iShares. Over the past 5 years, IEMB.L returned 1.91%/yr vs 1.03%/yr for EMGA.L. A 0.60 correlation means they provide meaningful diversification when combined. IEMB.L charges 0.45%/yr vs 0.50%/yr for EMGA.L.
Performance
IEMB.L vs. EMGA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEMB.L achieves a 1.62% return, which is significantly higher than EMGA.L's 0.79% return.
IEMB.L
- 1D
- 0.41%
- 1M
- 1.01%
- YTD
- 1.62%
- 6M
- 2.22%
- 1Y
- 11.20%
- 3Y*
- 9.72%
- 5Y*
- 1.91%
- 10Y*
- 3.32%
EMGA.L
- 1D
- -0.12%
- 1M
- 0.75%
- YTD
- 0.79%
- 6M
- 1.63%
- 1Y
- 8.91%
- 3Y*
- 7.03%
- 5Y*
- 1.03%
- 10Y*
- —
IEMB.L vs. EMGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.62% | 13.71% | 5.70% | 10.54% | -18.35% | -2.28% | 5.57% | 16.06% | -0.68% |
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) | 0.79% | 18.25% | -2.74% | 11.65% | -10.95% | -10.50% | 1.84% | 11.71% | -2.92% |
Correlation
The correlation between IEMB.L and EMGA.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.60 |
The correlation between IEMB.L and EMGA.L has been stable across timeframes, ranging from 0.59 to 0.61 - a consistent structural relationship.
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Return for Risk
IEMB.L vs. EMGA.L — Risk / Return Rank
IEMB.L
EMGA.L
IEMB.L vs. EMGA.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 iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.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.
| IEMB.L | EMGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.23 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 1.50 | +1.08 |
| Martin ratioReturn relative to average drawdown | 10.73 | 5.01 | +5.72 |
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
| IEMB.L | EMGA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.19 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.11 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.16 | +0.34 |
Drawdowns
IEMB.L vs. EMGA.L - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, which is greater than EMGA.L's maximum drawdown of -28.18%. Use the drawdown chart below to compare losses from any high point for IEMB.L and EMGA.L.
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Drawdown Indicators
| IEMB.L | EMGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -28.18% | -3.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -5.93% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -9.12% | +1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | -26.60% | -2.02% |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -2.52% | +2.41% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -8.98% | +3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.78% | -0.74% |
Volatility
IEMB.L vs. EMGA.L - Volatility Comparison
iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) and iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) have volatilities of 2.57% and 2.63%, 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.
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Volatility by Period
| IEMB.L | EMGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 2.63% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 6.52% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 7.49% | -1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 9.03% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 10.24% | -0.99% |
IEMB.L vs. EMGA.L - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is lower than EMGA.L's 0.50% expense ratio.
Dividends
IEMB.L vs. EMGA.L - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, while EMGA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond 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) | 5.83% | 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 EMGA.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEMB.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEMB.L is cheaper with a 0.45% expense ratio, compared with 0.50% for EMGA.L.
Their fees differ too: 0.45% for IEMB.L and 0.50% for EMGA.L.
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