IEMB.L vs. EMLO.L
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and EMLO.L (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds. Over the past 5 years, IEMB.L returned 1.91%/yr vs 2.01%/yr for EMLO.L. At a 0.45 correlation, their price movements are largely independent. IEMB.L charges 0.45%/yr vs 0.47%/yr for EMLO.L.
Performance
IEMB.L vs. EMLO.L - Performance Comparison
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Different Trading Currencies
IEMB.L is traded in USD, while EMLO.L is traded in GBp. To make them comparable, the EMLO.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IEMB.L achieves a 1.62% return, which is significantly higher than EMLO.L's 1.04% 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%
EMLO.L
- 1D
- -0.25%
- 1M
- 0.72%
- YTD
- 1.04%
- 6M
- 2.38%
- 1Y
- 10.94%
- 3Y*
- 8.78%
- 5Y*
- 2.01%
- 10Y*
- —
IEMB.L vs. EMLO.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% | 0.82% |
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 1.04% | 20.78% | -1.65% | 14.21% | -14.51% | -7.45% | 1.46% | 14.05% | 6.04% |
Correlation
The correlation between IEMB.L and EMLO.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 | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.45 |
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Return for Risk
IEMB.L vs. EMLO.L — Risk / Return Rank
IEMB.L
EMLO.L
IEMB.L vs. EMLO.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 UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.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 | EMLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 1.66 | +0.92 |
| Martin ratioReturn relative to average drawdown | 10.73 | 5.77 | +4.96 |
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 | EMLO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.53 | +0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.22 | 0.00 |
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 | 0.38 | +0.13 |
Drawdowns
IEMB.L vs. EMLO.L - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, which is greater than EMLO.L's maximum drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for IEMB.L and EMLO.L.
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Drawdown Indicators
| IEMB.L | EMLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -29.60% | -2.48% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -6.58% | +2.26% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -9.11% | +1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | -28.51% | -0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -2.69% | +2.58% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -8.57% | +3.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.89% | -0.85% |
Volatility
IEMB.L vs. EMLO.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) is 2.57%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) has a volatility of 2.83%. This indicates that IEMB.L experiences smaller price fluctuations and is considered to be less risky than EMLO.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 | EMLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 2.83% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 6.26% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 7.15% | -1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 9.16% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 10.00% | -0.75% |
IEMB.L vs. EMLO.L - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is lower than EMLO.L's 0.47% expense ratio.
Dividends
IEMB.L vs. EMLO.L - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, more than EMLO.L's 5.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.51% | 5.66% | 5.13% | 4.54% | 4.40% | 4.95% | 4.94% | 5.12% | 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 EMLO.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, 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 0.47% for EMLO.L.
They also come from different issuers: iShares and UBS. Their fees differ too: 0.45% for IEMB.L and 0.47% for EMLO.L.
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