LEMB.L vs. EMGA.L
LEMB.L (Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist) and EMGA.L (iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - LEMB.L tracks the JPM EMBI Global Diversified TR USD while EMGA.L tracks the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 5 years, LEMB.L returned 1.16%/yr vs 1.03%/yr for EMGA.L. A 0.58 correlation means they provide meaningful diversification when combined. LEMB.L charges 0.30%/yr vs 0.50%/yr for EMGA.L.
Performance
LEMB.L vs. EMGA.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 higher than EMGA.L's 0.79% 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%
EMGA.L
- 1D
- -0.12%
- 1M
- 0.75%
- YTD
- 0.79%
- 6M
- 1.63%
- 1Y
- 8.91%
- 3Y*
- 7.03%
- 5Y*
- 1.03%
- 10Y*
- —
LEMB.L vs. EMGA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
LEMB.L Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist | 1.79% | 12.48% | 0.66% | 9.26% | -16.61% | -2.23% | 4.28% | 13.91% | 1.79% |
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) | 0.79% | 18.25% | -2.74% | 11.65% | -10.95% | -10.50% | 1.84% | 11.71% | -2.92% |
Correlation
The correlation between LEMB.L and EMGA.L is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2018 | 0.58 |
The correlation between LEMB.L and EMGA.L has been stable across timeframes, ranging from 0.57 to 0.62 - a consistent structural relationship.
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Return for Risk
LEMB.L vs. EMGA.L — Risk / Return Rank
LEMB.L
EMGA.L
LEMB.L vs. EMGA.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 iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.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 | EMGA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.23 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 1.50 | +1.36 |
| Martin ratioReturn relative to average drawdown | 11.44 | 5.01 | +6.43 |
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 | EMGA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 1.19 | +0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.11 | +0.02 |
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 | 0.16 | +0.15 |
Drawdowns
LEMB.L vs. EMGA.L - Drawdown Comparison
The maximum LEMB.L drawdown since its inception was -27.40%, roughly equal to the maximum EMGA.L drawdown of -28.18%. Use the drawdown chart below to compare losses from any high point for LEMB.L and EMGA.L.
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Drawdown Indicators
| LEMB.L | EMGA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.40% | -28.18% | +0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.74% | -5.93% | +2.19% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -9.12% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -26.85% | -26.60% | -0.25% |
Max Drawdown (10Y)Largest decline over 10 years | -27.40% | — | — |
Current DrawdownCurrent decline from peak | -0.02% | -2.52% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -8.98% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.78% | -0.84% |
Volatility
LEMB.L vs. EMGA.L - Volatility Comparison
The current volatility for Lyxor iBoxx USD Liquid Emerging Markets Sovereigns UCITS ETF - Dist (LEMB.L) is 2.05%, while iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) (EMGA.L) has a volatility of 2.63%. This indicates that LEMB.L experiences smaller price fluctuations and is considered to be less risky than EMGA.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 | EMGA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 2.63% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.20% | 6.52% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.25% | 7.49% | -2.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.89% | 9.03% | -0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.18% | 10.24% | -0.06% |
LEMB.L vs. EMGA.L - Expense Ratio Comparison
LEMB.L has a 0.30% expense ratio, which is lower than EMGA.L's 0.50% expense ratio.
Dividends
LEMB.L vs. EMGA.L - Dividend Comparison
LEMB.L's dividend yield for the trailing twelve months is around 5.20%, while EMGA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMGA.L iShares J.P. Morgan Emerging Markets Local Government Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 EMGA.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LEMB.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LEMB.L is cheaper with a 0.30% expense ratio, compared with 0.50% for EMGA.L.
LEMB.L tracks JPM EMBI Global Diversified TR USD, while EMGA.L tracks JPM GBI-EM Global Diversified TR USD. They also come from different issuers: Amundi and iShares. Their fees differ too: 0.30% for LEMB.L and 0.50% for EMGA.L.
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