LDME.L vs. EMGU.L
LDME.L (L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist)) and EMGU.L (iShares Core MSCI Emerging Markets IMI UCITS ETF) are both Emerging Markets Equities funds - LDME.L tracks the FTSE Emerging All Cap ex CW ex TC ex REITS Dividend Growth with Quality Index while EMGU.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, LDME.L returned 9.58%/yr vs 7.07%/yr for EMGU.L. Their correlation of 0.80 suggests significant overlap in exposure. LDME.L charges 0.45%/yr vs 0.18%/yr for EMGU.L.
Performance
LDME.L vs. EMGU.L - Performance Comparison
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Different Trading Currencies
LDME.L is traded in GBp, while EMGU.L is traded in GBP. To make them comparable, the EMGU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, LDME.L achieves a 10.73% return, which is significantly lower than EMGU.L's 15.00% return.
LDME.L
- 1D
- -0.96%
- 1M
- -5.18%
- 6M
- 6.28%
- YTD
- 10.73%
- 1Y
- 20.08%
- 3Y*
- 15.53%
- 5Y*
- 9.58%
- 10Y*
- —
EMGU.L
- 1D
- -1.52%
- 1M
- -9.42%
- 6M
- 9.23%
- YTD
- 15.00%
- 1Y
- 28.57%
- 3Y*
- 17.14%
- 5Y*
- 7.07%
- 10Y*
- —
LDME.L vs. EMGU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LDME.L L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) | 10.73% | 16.54% | 11.33% | 10.64% | -2.34% | 7,358.59% |
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 15.00% | 23.04% | 9.04% | 4.99% | -9.96% | -2.36% |
Correlation
The correlation between LDME.L and EMGU.L is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021 | 0.80 |
The correlation between LDME.L and EMGU.L has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.
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Return for Risk
LDME.L vs. EMGU.L — Risk / Return Rank
LDME.L
EMGU.L
LDME.L vs. EMGU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) (LDME.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.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.
| LDME.L | EMGU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.11 | 2.39 | +0.71 |
| Martin ratioReturn relative to average drawdown | 8.15 | 7.54 | +0.61 |
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Drawdowns
LDME.L vs. EMGU.L - Drawdown Comparison
The maximum LDME.L drawdown since its inception was -14.82%, smaller than the maximum EMGU.L drawdown of -44.79%. Use the drawdown chart below to compare losses from any high point for LDME.L and EMGU.L.
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Drawdown Indicators
| LDME.L | EMGU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.82% | -44.79% | +29.97% |
Max Drawdown (1Y)Largest decline over 1 year | -6.44% | -11.88% | +5.44% |
Max Drawdown (3Y)Largest decline over 3 years | -14.82% | -15.53% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | -20.90% | +6.08% |
Current DrawdownCurrent decline from peak | -6.32% | -11.88% | +5.56% |
Average DrawdownAverage peak-to-trough decline | -3.25% | -17.58% | +14.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 3.78% | -1.32% |
Volatility
LDME.L vs. EMGU.L - Volatility Comparison
The current volatility for L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) (LDME.L) is 3.98%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) has a volatility of 8.40%. This indicates that LDME.L experiences smaller price fluctuations and is considered to be less risky than EMGU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LDME.L | EMGU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 8.40% | -4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.82% | 17.16% | -7.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.14% | 19.12% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.65% | 16.31% | -3.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,215.14% | 18.80% | +3,196.34% |
LDME.L vs. EMGU.L - Expense Ratio Comparison
LDME.L has a 0.45% expense ratio, which is higher than EMGU.L's 0.18% expense ratio.
Dividends
LDME.L vs. EMGU.L - Dividend Comparison
LDME.L's dividend yield for the trailing twelve months is around 2.88%, more than EMGU.L's 1.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF | 1.74% | 1.93% | 2.26% | 2.51% | 3.16% | 1.86% | 1.81% | 2.81% | 1.39% |
LDME.L L&G Emerging Markets Quality Dividends Equal Weight UCITS ETF USD (Dist) | 2.88% | 3.04% | 3.67% | 3.56% | 4.57% | 1.55% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LDME.L and EMGU.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMGU.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMGU.L is cheaper with a 0.18% expense ratio, compared with 0.45% for LDME.L.
LDME.L tracks FTSE Emerging All Cap ex CW ex TC ex REITS Dividend Growth with Quality Index, while EMGU.L tracks MSCI EM NR USD. They also come from different issuers: L&G and iShares. Their fees differ too: 0.45% for LDME.L and 0.18% for EMGU.L.
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