IEMB.L vs. XUEB.L
IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) and XUEB.L (Xtrackers II USD Emerging Markets Bond UCITS ETF 2C) are both Emerging Markets Bonds funds. Over the past 3 years, IEMB.L returned 9.72%/yr vs 10.31%/yr for XUEB.L. Their correlation of 0.93 suggests significant overlap in exposure. IEMB.L charges 0.45%/yr vs 0.25%/yr for XUEB.L.
Performance
IEMB.L vs. XUEB.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 XUEB.L's 2.70% 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%
XUEB.L
- 1D
- 0.35%
- 1M
- 1.05%
- YTD
- 2.70%
- 6M
- 3.15%
- 1Y
- 12.65%
- 3Y*
- 10.31%
- 5Y*
- —
- 10Y*
- —
IEMB.L vs. XUEB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.62% | 13.71% | 5.70% | 10.54% | 5.06% |
XUEB.L Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 2.70% | 13.61% | 6.10% | 11.06% | 5.53% |
Correlation
The correlation between IEMB.L and XUEB.L is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.93 |
The correlation between IEMB.L and XUEB.L has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
IEMB.L vs. XUEB.L — Risk / Return Rank
IEMB.L
XUEB.L
IEMB.L vs. XUEB.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 Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.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 | XUEB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.45 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.08 | -0.50 |
| Martin ratioReturn relative to average drawdown | 10.73 | 12.93 | -2.20 |
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 | XUEB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.88 | 2.28 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | — | — |
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 | 1.17 | -0.66 |
Drawdowns
IEMB.L vs. XUEB.L - Drawdown Comparison
The maximum IEMB.L drawdown since its inception was -32.08%, which is greater than XUEB.L's maximum drawdown of -14.08%. Use the drawdown chart below to compare losses from any high point for IEMB.L and XUEB.L.
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Drawdown Indicators
| IEMB.L | XUEB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.08% | -14.08% | -18.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.32% | -4.09% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -7.54% | -7.91% | +0.37% |
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 | -0.11% | -0.01% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -5.02% | -2.09% | -2.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.98% | +0.06% |
Volatility
IEMB.L vs. XUEB.L - Volatility Comparison
iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a higher volatility of 2.57% compared to Xtrackers II USD Emerging Markets Bond UCITS ETF 2C (XUEB.L) at 1.98%. This indicates that IEMB.L's price experiences larger fluctuations and is considered to be riskier than XUEB.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 | XUEB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.57% | 1.98% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 4.93% | 4.67% | +0.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 5.54% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.87% | 8.60% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.25% | 8.60% | +0.65% |
IEMB.L vs. XUEB.L - Expense Ratio Comparison
IEMB.L has a 0.45% expense ratio, which is higher than XUEB.L's 0.25% expense ratio.
Dividends
IEMB.L vs. XUEB.L - Dividend Comparison
IEMB.L's dividend yield for the trailing twelve months is around 5.83%, while XUEB.L has not paid dividends to shareholders.
| 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% |
XUEB.L Xtrackers II USD Emerging Markets Bond UCITS ETF 2C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEMB.L and XUEB.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XUEB.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XUEB.L is cheaper with a 0.25% expense ratio, compared with 0.45% for IEMB.L.
They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.45% for IEMB.L and 0.25% for XUEB.L.
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