LEMB.L vs. DRGN.L
LEMB.L (Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist) and DRGN.L (L&G China CNY Bond UCITS ETF) are both Emerging Markets Bonds funds. LEMB.L is passively managed, while DRGN.L is actively managed. Over the past 5 years, LEMB.L returned 1.16%/yr vs 2.26%/yr for DRGN.L. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.30% expense ratio.
Performance
LEMB.L vs. DRGN.L - Performance Comparison
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Returns By Period
In the year-to-date period, LEMB.L achieves a 1.79% return, which is significantly lower than DRGN.L's 4.62% return.
LEMB.L
- 1D
- 0.25%
- 1M
- 0.96%
- YTD
- 1.79%
- 6M
- 2.28%
- 1Y
- 10.73%
- 3Y*
- 7.40%
- 5Y*
- 1.16%
- 10Y*
- 2.19%
DRGN.L
- 1D
- -0.08%
- 1M
- 1.37%
- YTD
- 4.62%
- 6M
- 6.29%
- 1Y
- 8.23%
- 3Y*
- 4.99%
- 5Y*
- 2.26%
- 10Y*
- —
LEMB.L vs. DRGN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 1.79% | 12.48% | 0.66% | 9.26% | -16.61% | -2.23% | 1.58% |
DRGN.L L&G China CNY Bond UCITS ETF | 4.62% | 5.43% | 3.15% | 0.46% | -5.32% | 7.15% | 0.87% |
Correlation
The correlation between LEMB.L and DRGN.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.31 |
The correlation between LEMB.L and DRGN.L shifts across timeframes, from 0.25 (3 years) to 0.40 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
LEMB.L vs. DRGN.L — Risk / Return Rank
LEMB.L
DRGN.L
LEMB.L vs. DRGN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.L) and L&G China CNY Bond UCITS ETF (DRGN.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.
| LEMB.L | DRGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.56 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 5.58 | -2.72 |
| Martin ratioReturn relative to average drawdown | 11.44 | 22.51 | -11.07 |
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
| LEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.45 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.49 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.22 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.64 | -0.33 |
Drawdowns
LEMB.L vs. DRGN.L - Drawdown Comparison
The maximum LEMB.L drawdown since its inception was -27.40%, which is greater than DRGN.L's maximum drawdown of -11.71%. Use the drawdown chart below to compare losses from any high point for LEMB.L and DRGN.L.
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Drawdown Indicators
| LEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -11.71% | -15.69% |
Max Drawdown (1Y)Largest decline over 1 year | -3.74% | -1.47% | -2.27% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -3.49% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -26.85% | -11.71% | -15.14% |
Max Drawdown (10Y)Largest decline over 10 years | -27.40% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -0.30% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -3.61% | -4.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.36% | +0.58% |
Volatility
LEMB.L vs. DRGN.L - Volatility Comparison
Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.L) has a higher volatility of 2.05% compared to L&G China CNY Bond UCITS ETF (DRGN.L) at 1.21%. This indicates that LEMB.L's price experiences larger fluctuations and is considered to be riskier than DRGN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 1.21% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 3.00% | +1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.25% | 3.36% | +1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.89% | 4.58% | +4.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.18% | 4.53% | +5.65% |
LEMB.L vs. DRGN.L - Expense Ratio Comparison
Both LEMB.L and DRGN.L have an expense ratio of 0.30%.
Dividends
LEMB.L vs. DRGN.L - Dividend Comparison
LEMB.L's dividend yield for the trailing twelve months is around 5.20%, more than DRGN.L's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 1.63% | 1.94% | 2.31% | 2.45% | 2.76% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 5.20% | 5.29% | 3.59% | 5.90% | 5.73% | 4.49% | 4.12% | 5.12% | 5.18% | 5.14% | 5.41% | 6.69% |
Frequently Asked Questions
LEMB.L and DRGN.L have a correlation of 0.40, 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 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
LEMB.L and DRGN.L have the same expense ratio: 0.30% per year.
They also come from different issuers: Amundi and Legal & General.
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