IEMB.L vs. FSEM.L
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) are both Emerging Markets Bonds funds. Over the past 5 years, IEMB.L returned 1.91%/yr vs 1.53%/yr for FSEM.L. A 0.75 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
IEMB.L vs. FSEM.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 lower than FSEM.L's 2.90% 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%
FSEM.L
- 1D
- 0.09%
- 1M
- 0.89%
- YTD
- 2.90%
- 6M
- 3.45%
- 1Y
- 12.53%
- 3Y*
- 8.81%
- 5Y*
- 1.53%
- 10Y*
- —
IEMB.L vs. FSEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.62% | 13.71% | 5.70% | 10.54% | -18.35% | 3.59% |
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 2.90% | 13.32% | 3.51% | 8.82% | -17.90% | 2.49% |
Correlation
The correlation between IEMB.L and FSEM.L is 0.79, 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 | 0.79 |
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 IEMB.L and FSEM.L has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.
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Return for Risk
IEMB.L vs. FSEM.L — Risk / Return Rank
IEMB.L
FSEM.L
IEMB.L vs. FSEM.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 Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.46 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.11 | -0.53 |
| Martin ratioReturn relative to average drawdown | 10.73 | 11.25 | -0.52 |
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 | FSEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 1.96 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.18 | +0.04 |
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 | 0.23 | +0.28 |
Drawdowns
IEMB.L vs. FSEM.L - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, which is greater than FSEM.L's maximum drawdown of -28.00%. Use the drawdown chart below to compare losses from any high point for IEMB.L and FSEM.L.
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Drawdown Indicators
| IEMB.L | FSEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -28.00% | -4.08% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -4.02% | -0.30% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -7.09% | -0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | -28.00% | -0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -1.00% | +0.89% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -10.21% | +5.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.11% | -0.07% |
Volatility
IEMB.L vs. FSEM.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) is 2.57%, while Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a volatility of 2.72%. This indicates that IEMB.L experiences smaller price fluctuations and is considered to be less risky than FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 2.72% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 5.22% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 6.39% | -0.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 8.58% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 8.47% | +0.78% |
IEMB.L vs. FSEM.L - Expense Ratio Comparison
Both IEMB.L and FSEM.L have an expense ratio of 0.45%.
Dividends
IEMB.L vs. FSEM.L - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, less than FSEM.L's 7.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% | 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 FSEM.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IEMB.L and FSEM.L have the same expense ratio: 0.45% per year.
They also come from different issuers: iShares and Fidelity.
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