IESG.L vs. EMD5.L
IESG.L (iShares MSCI Europe SRI UCITS ETF) and EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) are both exchange-traded funds - IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index, while EMD5.L is a Emerging Markets Bonds fund tracking the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index. Both are passively managed. Over the past 5 years, IESG.L returned 5.24%/yr vs 2.74%/yr for EMD5.L. At a 0.10 correlation, their price movements are largely independent. IESG.L charges 0.20%/yr vs 0.25%/yr for EMD5.L.
Performance
IESG.L vs. EMD5.L - Performance Comparison
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Different Trading Currencies
IESG.L is traded in GBp, while EMD5.L is traded in USD. To make them comparable, the EMD5.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IESG.L achieves a 7.43% return, which is significantly higher than EMD5.L's -1.42% return.
IESG.L
- 1D
- -0.35%
- 1M
- -1.16%
- 6M
- 4.35%
- YTD
- 7.43%
- 1Y
- 9.06%
- 3Y*
- 7.76%
- 5Y*
- 5.24%
- 10Y*
- 8.44%
EMD5.L
- 1D
- -0.99%
- 1M
- -2.04%
- 6M
- 0.33%
- YTD
- -1.42%
- 1Y
- 2.76%
- 3Y*
- 5.94%
- 5Y*
- 2.74%
- 10Y*
- —
IESG.L vs. EMD5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IESG.L iShares MSCI Europe SRI UCITS ETF | 7.43% | 8.44% | 0.88% | 14.27% | -9.89% | 18.85% | 2.27% |
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | -1.42% | 2.30% | 10.30% | 2.45% | 0.24% | 0.67% | -0.87% |
Correlation
The correlation between IESG.L and EMD5.L is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.10 |
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Return for Risk
IESG.L vs. EMD5.L — Risk / Return Rank
IESG.L
EMD5.L
IESG.L vs. EMD5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (IESG.L) and L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IESG.L | EMD5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.07 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 0.37 | +0.42 |
| Martin ratioReturn relative to average drawdown | 2.63 | 0.91 | +1.72 |
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Drawdowns
IESG.L vs. EMD5.L - Drawdown Comparison
The maximum IESG.L drawdown since its inception was -33.61%, which is greater than EMD5.L's maximum drawdown of -12.98%. Use the drawdown chart below to compare losses from any high point for IESG.L and EMD5.L.
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Drawdown Indicators
| IESG.L | EMD5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.61% | -12.98% | -20.63% |
Max Drawdown (1Y)Largest decline over 1 year | -11.32% | -6.62% | -4.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -7.39% | -7.68% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -12.98% | -7.79% |
Max Drawdown (10Y)Largest decline over 10 years | -25.95% | — | — |
Current DrawdownCurrent decline from peak | -2.33% | -3.43% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -6.95% | -4.59% | -2.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 2.71% | +0.73% |
Volatility
IESG.L vs. EMD5.L - Volatility Comparison
iShares MSCI Europe SRI UCITS ETF (IESG.L) has a higher volatility of 3.49% compared to L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.L) at 2.12%. This indicates that IESG.L's price experiences larger fluctuations and is considered to be riskier than EMD5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESG.L | EMD5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.49% | 2.12% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.90% | 5.37% | +5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.93% | 6.74% | +6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.26% | 8.09% | +8.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.78% | 7.96% | +7.82% |
IESG.L vs. EMD5.L - Expense Ratio Comparison
IESG.L has a 0.20% expense ratio, which is lower than EMD5.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IESG.L vs. EMD5.L - Dividend Comparison
Neither IESG.L nor EMD5.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | 0.00% | 5.66% | 6.09% | 4.60% | 3.04% | 1.25% |
IESG.L iShares MSCI Europe SRI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IESG.L and EMD5.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESG.L is cheaper with a 0.20% expense ratio, compared with 0.25% for EMD5.L.
IESG.L is categorized as ESG, while EMD5.L is Emerging Markets Bonds. IESG.L tracks MSCI Europe SRI Select Reduced Fossil Fuel Index, while EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.20% for IESG.L and 0.25% for EMD5.L.
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