IGEA.L vs. UBXX.L
IGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and UBXX.L (UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis) are both Emerging Markets Bonds funds - IGEA.L tracks the BBG EM Asia Local Currency Govt Country Cap NET Index while UBXX.L tracks the J.P. Morgan EMBI Global Diversified 1-5 Year Index. Both are passively managed. Over the past 5 years, IGEA.L returned -0.40%/yr vs 2.03%/yr for UBXX.L. At a 0.46 correlation, their price movements are largely independent. IGEA.L charges 0.50%/yr vs 0.47%/yr for UBXX.L.
Performance
IGEA.L vs. UBXX.L - Performance Comparison
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Different Trading Currencies
IGEA.L is traded in USD, while UBXX.L is traded in GBp. To make them comparable, the UBXX.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IGEA.L achieves a -5.77% return, which is significantly lower than UBXX.L's 2.07% 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%
UBXX.L
- 1D
- -0.15%
- 1M
- 1.40%
- 6M
- 1.84%
- YTD
- 2.07%
- 1Y
- 6.89%
- 3Y*
- 9.23%
- 5Y*
- 2.03%
- 10Y*
- —
- ALL TIME*
- 2.01%
IGEA.L vs. UBXX.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% | -0.72% |
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis | 2.07% | 17.99% | 5.23% | 12.79% | -20.58% | -1.01% | 4.80% | 10.19% | -8.98% |
Correlation
The correlation between IGEA.L and UBXX.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2018 | 0.46 |
The correlation between IGEA.L and UBXX.L has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
IGEA.L vs. UBXX.L — Risk / Return Rank
IGEA.L
UBXX.L
IGEA.L vs. UBXX.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 UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.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 | UBXX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.95 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.15 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 1.17 | -1.92 |
| Martin ratioReturn relative to average drawdown | -1.40 | 3.25 | -4.65 |
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Drawdowns
IGEA.L vs. UBXX.L - Drawdown Comparison
The maximum IGEA.L drawdown since its inception was -21.51%, smaller than the maximum UBXX.L drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for IGEA.L and UBXX.L.
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Drawdown Indicators
| IGEA.L | UBXX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.51% | -35.97% | +14.46% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -5.87% | -2.72% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -8.71% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -18.81% | -34.69% | +15.88% |
Max Drawdown (10Y)Largest decline over 10 years | -21.51% | — | — |
Current DrawdownCurrent decline from peak | -7.56% | -1.73% | -5.83% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -10.47% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.61% | 2.11% | +2.50% |
Volatility
IGEA.L vs. UBXX.L - Volatility Comparison
The current volatility for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (IGEA.L) is 1.02%, while UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) has a volatility of 1.73%. This indicates that IGEA.L experiences smaller price fluctuations and is considered to be less risky than UBXX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IGEA.L | UBXX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 1.73% | -0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 4.82% | 5.98% | -1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.06% | 7.76% | -1.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.40% | 10.77% | -4.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.32% | 11.08% | -4.76% |
IGEA.L vs. UBXX.L - Expense Ratio Comparison
IGEA.L has a 0.50% expense ratio, which is higher than UBXX.L's 0.47% expense ratio.
Dividends
IGEA.L vs. UBXX.L - Dividend Comparison
IGEA.L's dividend yield for the trailing twelve months is around 1.77%, less than UBXX.L's 6.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis | 6.47% | 25.71% | 7.05% | 4.76% | 4.40% | 3.91% | 4.43% | 6.18% | 0.21% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IGEA.L and UBXX.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, UBXX.L is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UBXX.L is cheaper with a 0.47% expense ratio, compared with 0.50% for IGEA.L.
IGEA.L tracks BBG EM Asia Local Currency Govt Country Cap NET Index, while UBXX.L tracks J.P. Morgan EMBI Global Diversified 1-5 Year Index. They also come from different issuers: iShares and UBS. Their fees differ too: 0.50% for IGEA.L and 0.47% for UBXX.L.
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