LQDH.L vs. EMLB.L
LQDH.L (iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist)) and EMLB.L (PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc)) are both exchange-traded funds - LQDH.L is a Global Corporate Bonds fund tracking the IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD), while EMLB.L is a Emerging Markets Bonds fund tracking the PIMCO Emerging Markets Advantage Local Currency Bond Index. Both are passively managed. Over the past 10 years, LQDH.L returned 4.41%/yr vs 3.12%/yr for EMLB.L. At a 0.25 correlation, their price movements are largely independent. LQDH.L charges 0.25%/yr vs 0.39%/yr for EMLB.L.
Performance
LQDH.L vs. EMLB.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LQDH.L having a 2.46% return and EMLB.L slightly higher at 2.55%. Over the past 10 years, LQDH.L has outperformed EMLB.L with an annualized return of 4.41%, while EMLB.L has yielded a comparatively lower 3.12% annualized return.
LQDH.L
- 1D
- 0.07%
- 1M
- -0.21%
- 6M
- 2.01%
- YTD
- 2.46%
- 1Y
- 4.61%
- 3Y*
- 7.42%
- 5Y*
- 5.37%
- 10Y*
- 4.41%
EMLB.L
- 1D
- -0.10%
- 1M
- -0.55%
- 6M
- 1.96%
- YTD
- 2.55%
- 1Y
- 8.40%
- 3Y*
- 5.61%
- 5Y*
- 3.90%
- 10Y*
- 3.12%
LQDH.L vs. EMLB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 2.46% | 4.93% | 8.27% | 11.54% | 0.28% | 0.92% | 0.77% | 10.76% | -2.64% | 4.56% |
EMLB.L PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) | 2.55% | 17.08% | -3.25% | 13.74% | -5.70% | -5.53% | 1.91% | 13.10% | -6.90% | 12.55% |
Correlation
The correlation between LQDH.L and EMLB.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Sep 19, 2013 | 0.25 |
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Return for Risk
LQDH.L vs. EMLB.L — Risk / Return Rank
LQDH.L
EMLB.L
LQDH.L vs. EMLB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) and PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.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.
| LQDH.L | EMLB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.23 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 1.53 | +1.77 |
| Martin ratioReturn relative to average drawdown | 11.26 | 4.98 | +6.28 |
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Drawdowns
LQDH.L vs. EMLB.L - Drawdown Comparison
The maximum LQDH.L drawdown since its inception was -23.77%, smaller than the maximum EMLB.L drawdown of -29.75%. Use the drawdown chart below to compare losses from any high point for LQDH.L and EMLB.L.
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Drawdown Indicators
| LQDH.L | EMLB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.77% | -29.75% | +5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -5.48% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -2.81% | -7.50% | +4.69% |
Max Drawdown (5Y)Largest decline over 5 years | -6.42% | -20.09% | +13.67% |
Max Drawdown (10Y)Largest decline over 10 years | -23.77% | -21.37% | -2.40% |
Current DrawdownCurrent decline from peak | -0.34% | -1.40% | +1.06% |
Average DrawdownAverage peak-to-trough decline | -1.46% | -9.33% | +7.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.68% | -1.27% |
Volatility
LQDH.L vs. EMLB.L - Volatility Comparison
The current volatility for iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) (LQDH.L) is 0.84%, while PIMCO Advantage Emerging Markets Local Bond UCITS ETF USD (Acc) (EMLB.L) has a volatility of 1.78%. This indicates that LQDH.L experiences smaller price fluctuations and is considered to be less risky than EMLB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LQDH.L | EMLB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.84% | 1.78% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 2.19% | 6.18% | -3.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 7.00% | -3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.87% | 9.48% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.41% | 9.58% | -3.17% |
LQDH.L vs. EMLB.L - Expense Ratio Comparison
LQDH.L has a 0.25% expense ratio, which is lower than EMLB.L's 0.39% expense ratio.
Dividends
LQDH.L vs. EMLB.L - Dividend Comparison
LQDH.L's dividend yield for the trailing twelve months is around 4.33%, while EMLB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLB.L PIMCO Advantage Emerging Markets Local 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% |
LQDH.L iShares $ Corp Bond Interest Rate Hedged UCITS ETF USD (Dist) | 4.33% | 4.66% | 5.52% | 4.83% | 2.07% | 1.55% | 2.45% | 3.52% | 2.87% | 2.14% | 2.46% | 3.25% |
Frequently Asked Questions
LQDH.L and EMLB.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, LQDH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
LQDH.L is cheaper with a 0.25% expense ratio, compared with 0.39% for EMLB.L.
LQDH.L is categorized as Global Corporate Bonds, while EMLB.L is Emerging Markets Bonds. LQDH.L tracks IBOXX US Dollar Liquid Investment Grade IR Hedged Index (USD), while EMLB.L tracks PIMCO Emerging Markets Advantage Local Currency Bond Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.25% for LQDH.L and 0.39% for EMLB.L.
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