IGEA.L vs. EMCA.L
IGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds from iShares - IGEA.L tracks the BBG EM Asia Local Currency Govt Country Cap NET Index while EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, IGEA.L returned -0.40%/yr vs 1.87%/yr for EMCA.L. At a 0.35 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
IGEA.L vs. EMCA.L - Performance Comparison
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Returns By Period
In the year-to-date period, IGEA.L achieves a -5.77% return, which is significantly lower than EMCA.L's 1.35% return.
IGEA.L
- 1D
- 0.26%
- 1M
- 0.09%
- 6M
- -3.15%
- YTD
- -5.77%
- 1Y
- -6.44%
- 3Y*
- 1.08%
- 5Y*
- -0.40%
- 10Y*
- 1.10%
- ALL TIME*
- 1.07%
EMCA.L
- 1D
- -0.15%
- 1M
- -0.59%
- 6M
- 1.04%
- YTD
- 1.35%
- 1Y
- 5.44%
- 3Y*
- 6.84%
- 5Y*
- 1.87%
- 10Y*
- —
- ALL TIME*
- 3.81%
IGEA.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.77% | 5.84% | 1.57% | 4.77% | -7.79% | -4.40% | 9.11% | 8.96% | 0.65% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.35% | 8.60% | 6.21% | 7.96% | -12.09% | -0.51% | 7.04% | 13.77% | 0.89% |
Correlation
The correlation between IGEA.L and EMCA.L is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.35 |
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Return for Risk
IGEA.L vs. EMCA.L — Risk / Return Rank
IGEA.L
EMCA.L
IGEA.L vs. EMCA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.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.
| IGEA.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.63 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.27 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.45 | -3.20 |
| Martin ratioReturn relative to average drawdown | -1.40 | 9.47 | -10.87 |
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Drawdowns
IGEA.L vs. EMCA.L - Drawdown Comparison
The maximum IGEA.L drawdown since its inception was -21.51%, smaller than the maximum EMCA.L drawdown of -24.69%. Use the drawdown chart below to compare losses from any high point for IGEA.L and EMCA.L.
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Drawdown Indicators
| IGEA.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -24.69% | +3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -2.21% | -6.38% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -3.58% | -5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -20.14% | +1.33% |
Max Drawdown (10Y)Largest decline over 10 years | -21.51% | — | — |
Current DrawdownCurrent decline from peak | -7.56% | -0.73% | -6.83% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -4.05% | -1.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 0.57% | +4.04% |
Volatility
IGEA.L vs. EMCA.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) have volatilities of 1.02% and 1.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEA.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.06% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.82% | 3.26% | +1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 3.83% | +2.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 5.25% | +1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 8.78% | -2.46% |
IGEA.L vs. EMCA.L - Expense Ratio Comparison
Both IGEA.L and EMCA.L have an expense ratio of 0.50%.
Dividends
IGEA.L vs. EMCA.L - Dividend Comparison
IGEA.L's dividend yield for the trailing twelve months is around 1.77%, while EMCA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.77% | 3.24% | 3.07% | 2.87% | 2.96% | 2.42% | 2.80% | 2.46% | 2.57% | 2.02% | 3.01% | 1.18% |
Frequently Asked Questions
IGEA.L and EMCA.L have a correlation of 0.29, 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 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
IGEA.L and EMCA.L have the same expense ratio: 0.50% per year.
IGEA.L tracks BBG EM Asia Local Currency Govt Country Cap NET Index, while EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index.
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