IS02.DE vs. VGEM.DE
IS02.DE (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc)) and VGEM.DE (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) are both Emerging Markets Bonds funds - IS02.DE tracks the JP Morgan EMBI Global Core while VGEM.DE tracks the Bloomberg EM USD Sovereign + Quasi-Sov. Both are passively managed. Over the past 5 years, IS02.DE returned 2.88%/yr vs 2.73%/yr for VGEM.DE. Their correlation of 0.91 suggests significant overlap in exposure. IS02.DE charges 0.45%/yr vs 0.25%/yr for VGEM.DE.
Performance
IS02.DE vs. VGEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IS02.DE achieves a 2.97% return, which is significantly higher than VGEM.DE's 2.34% return.
IS02.DE
- 1D
- 0.11%
- 1M
- 1.71%
- YTD
- 2.97%
- 6M
- 2.72%
- 1Y
- 9.38%
- 3Y*
- 6.78%
- 5Y*
- 2.88%
- 10Y*
- —
VGEM.DE
- 1D
- 0.20%
- 1M
- 1.24%
- YTD
- 2.34%
- 6M
- 1.63%
- 1Y
- 6.72%
- 3Y*
- 5.24%
- 5Y*
- 2.73%
- 10Y*
- —
IS02.DE vs. VGEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 2.97% | 1.10% | 11.83% | 6.71% | -13.12% | 5.72% | 0.08% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 2.34% | -1.55% | 12.06% | 5.25% | -10.22% | 5.82% | -0.85% |
Correlation
The correlation between IS02.DE and VGEM.DE is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 17, 2020 | 0.91 |
The correlation between IS02.DE and VGEM.DE has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
IS02.DE vs. VGEM.DE — Risk / Return Rank
IS02.DE
VGEM.DE
IS02.DE vs. VGEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE). 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.
| IS02.DE | VGEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.16 | +0.95 |
| Martin ratioReturn relative to average drawdown | 8.98 | 5.71 | +3.28 |
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
| IS02.DE | VGEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.57 | 1.13 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.34 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.29 | -0.01 |
Drawdowns
IS02.DE vs. VGEM.DE - Drawdown Comparison
The maximum IS02.DE drawdown since its inception was -16.21%, smaller than the maximum VGEM.DE drawdown of -19.64%. Use the drawdown chart below to compare losses from any high point for IS02.DE and VGEM.DE.
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Drawdown Indicators
| IS02.DE | VGEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.21% | -19.64% | +3.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.00% | -3.10% | +0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -11.98% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -16.21% | -12.46% | -3.75% |
Current DrawdownCurrent decline from peak | 0.00% | -2.18% | +2.18% |
Average DrawdownAverage peak-to-trough decline | -5.92% | -6.63% | +0.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 1.17% | -0.13% |
Volatility
IS02.DE vs. VGEM.DE - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) (IS02.DE) and Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VGEM.DE) have volatilities of 1.19% and 1.18%, 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
| IS02.DE | VGEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.18% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.97% | 3.96% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.94% | 5.93% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.53% | 7.89% | +0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.34% | 8.77% | -0.43% |
IS02.DE vs. VGEM.DE - Expense Ratio Comparison
IS02.DE has a 0.45% expense ratio, which is higher than VGEM.DE's 0.25% expense ratio.
Dividends
IS02.DE vs. VGEM.DE - Dividend Comparison
IS02.DE has not paid dividends to shareholders, while VGEM.DE's dividend yield for the trailing twelve months is around 5.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
IS02.DE iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGEM.DE Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.06% | 5.60% | 5.23% | 5.14% | 4.84% | 3.16% | 3.99% | 3.87% | 3.84% | 0.68% |
Frequently Asked Questions
IS02.DE and VGEM.DE have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGEM.DE is cheaper with a 0.25% expense ratio, compared with 0.45% for IS02.DE.
IS02.DE tracks JP Morgan EMBI Global Core, while VGEM.DE tracks Bloomberg EM USD Sovereign + Quasi-Sov. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.45% for IS02.DE and 0.25% for VGEM.DE.
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