IEMB.L vs. SGOV
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - IEMB.L is a Emerging Markets Bonds fund managed by iShares, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Over the past 5 years, IEMB.L returned 1.91%/yr vs 3.54%/yr for SGOV. At a correlation of -0.00, they often move in opposite directions. IEMB.L charges 0.45%/yr vs 0.09%/yr for SGOV.
Performance
IEMB.L vs. SGOV - 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 SGOV's 1.52% 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%
SGOV
- 1D
- 0.01%
- 1M
- 0.29%
- YTD
- 1.52%
- 6M
- 1.79%
- 1Y
- 3.95%
- 3Y*
- 4.72%
- 5Y*
- 3.54%
- 10Y*
- —
IEMB.L vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
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% | 12.33% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.52% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.05% |
Correlation
The correlation between IEMB.L and SGOV is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 29, 2020 | -0.00 |
The correlation between IEMB.L and SGOV shifts across timeframes, from -0.14 (1 year) to -0.00 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
IEMB.L vs. SGOV — Risk / Return Rank
IEMB.L
SGOV
IEMB.L vs. SGOV - 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 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -18.39 | ||
| Sortino ratioReturn per unit of downside risk | -272.73 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 195.55 | -194.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 398.20 | -395.62 |
| Martin ratioReturn relative to average drawdown | 10.73 | 4,462.00 | -4,451.27 |
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 | SGOV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 20.28 | -18.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 14.74 | -14.52 |
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 | 12.49 | -11.98 |
Drawdowns
IEMB.L vs. SGOV - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for IEMB.L and SGOV.
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Drawdown Indicators
| IEMB.L | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -0.03% | -32.05% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -0.01% | -4.31% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -0.01% | -7.53% |
Max Drawdown (5Y)Largest decline over 5 years | -28.62% | -0.03% | -28.59% |
Max Drawdown (10Y)Largest decline over 10 years | -28.62% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -0.00% | -5.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.00% | +1.04% |
Volatility
IEMB.L vs. SGOV - Volatility Comparison
iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a higher volatility of 2.57% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that IEMB.L's price experiences larger fluctuations and is considered to be riskier than SGOV 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 | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 0.05% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 0.13% | +4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 0.20% | +5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 0.24% | +8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 0.24% | +9.01% |
IEMB.L vs. SGOV - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
IEMB.L vs. SGOV - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, more than SGOV's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.86% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEMB.L and SGOV have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGOV is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.45% for IEMB.L.
IEMB.L is categorized as Emerging Markets Bonds, while SGOV is Ultrashort Bond. Their fees differ too: 0.45% for IEMB.L and 0.09% for SGOV.
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