IGLN.L vs. IEMB.L
IGLN.L (iShares Physical Gold ETC) and IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) are both exchange-traded funds - IGLN.L is a Gold fund tracking the LBMA Gold Price, while IEMB.L is a Emerging Markets Bonds fund managed by iShares. Over the past 10 years, IGLN.L returned 12.38%/yr vs 3.34%/yr for IEMB.L. At a 0.21 correlation, their price movements are largely independent. IGLN.L charges 0.12%/yr vs 0.45%/yr for IEMB.L.
Performance
IGLN.L vs. IEMB.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IGLN.L achieves a -3.71% return, which is significantly lower than IEMB.L's 2.13% return. Over the past 10 years, IGLN.L has outperformed IEMB.L with an annualized return of 12.38%, while IEMB.L has yielded a comparatively lower 3.34% annualized return.
IGLN.L
- 1D
- -1.88%
- 1M
- -8.11%
- YTD
- -3.71%
- 6M
- -4.54%
- 1Y
- 23.15%
- 3Y*
- 28.83%
- 5Y*
- 18.36%
- 10Y*
- 12.38%
IEMB.L
- 1D
- -0.06%
- 1M
- 2.10%
- YTD
- 2.13%
- 6M
- 2.52%
- 1Y
- 11.42%
- 3Y*
- 9.58%
- 5Y*
- 1.92%
- 10Y*
- 3.34%
IGLN.L vs. IEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IGLN.L iShares Physical Gold ETC | -3.71% | 64.93% | 26.14% | 13.44% | -0.09% | -4.03% | 24.16% | 18.30% | -1.33% | 11.69% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 2.13% | 13.71% | 5.70% | 10.54% | -18.35% | -2.28% | 5.57% | 16.06% | -5.53% | 9.73% |
Correlation
The correlation between IGLN.L and IEMB.L is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.29 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2011 | 0.21 |
The correlation between IGLN.L and IEMB.L shifts across timeframes, from 0.21 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IGLN.L vs. IEMB.L — Risk / Return Rank
IGLN.L
IEMB.L
IGLN.L vs. IEMB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Physical Gold ETC (IGLN.L) and iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.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.
| IGLN.L | IEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.10 | ||
| Sortino ratioReturn per unit of downside risk | -1.86 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.40 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.73 | -1.73 |
| Martin ratioReturn relative to average drawdown | 2.93 | 11.30 | -8.37 |
Loading charts...
Drawdowns
IGLN.L vs. IEMB.L - Drawdown Comparison
The maximum IGLN.L drawdown since its inception was -45.25%, which is greater than IEMB.L's maximum drawdown of -31.65%. Use the drawdown chart below to compare losses from any high point for IGLN.L and IEMB.L.
Loading charts...
Drawdown Indicators
| IGLN.L | IEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.25% | -31.65% | -13.60% |
Max Drawdown (1Y)Largest decline over 1 year | -23.02% | -4.32% | -18.70% |
Max Drawdown (3Y)Largest decline over 3 years | -23.02% | -7.54% | -15.48% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -28.62% | +5.60% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | -28.62% | +5.60% |
Current DrawdownCurrent decline from peak | -21.68% | -0.25% | -21.43% |
Average DrawdownAverage peak-to-trough decline | -19.72% | -4.98% | -14.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.88% | 1.04% | +6.84% |
Volatility
IGLN.L vs. IEMB.L - Volatility Comparison
iShares Physical Gold ETC (IGLN.L) has a higher volatility of 8.58% compared to iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) at 1.69%. This indicates that IGLN.L's price experiences larger fluctuations and is considered to be riskier than IEMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IGLN.L | IEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.58% | 1.69% | +6.89% |
Volatility (6M)Calculated over the trailing 6-month period | 22.91% | 4.97% | +17.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.83% | 5.94% | +19.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.55% | 8.88% | +8.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.69% | 9.25% | +6.44% |
IGLN.L vs. IEMB.L - Expense Ratio Comparison
IGLN.L has a 0.12% expense ratio, which is lower than IEMB.L's 0.45% expense ratio.
Dividends
IGLN.L vs. IEMB.L - Dividend Comparison
IGLN.L has not paid dividends to shareholders, while IEMB.L's dividend yield for the trailing twelve months is around 5.74%.
| 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) | 5.74% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
IGLN.L iShares Physical Gold ETC | 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
IGLN.L and IEMB.L have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IGLN.L is cheaper with a 0.12% expense ratio, compared with 0.45% for IEMB.L.
IGLN.L is categorized as Gold, while IEMB.L is Emerging Markets Bonds. Their fees differ too: 0.12% for IGLN.L and 0.45% for IEMB.L.
Find the right allocation for IGLN.L and IEMB.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer