MEDX vs. EMES.L
MEDX (Horizon Kinetics Medical ETF) and EMES.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) are both exchange-traded funds - MEDX is a Health & Biotech Equities fund actively managed by Horizon, while EMES.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD. MEDX is actively managed, while EMES.L is passively managed. Over the past 3 years, MEDX returned 6.55%/yr vs 9.03%/yr for EMES.L. At a 0.25 correlation, their price movements are largely independent. MEDX charges 0.85%/yr vs 0.45%/yr for EMES.L.
Performance
MEDX vs. EMES.L - Performance Comparison
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Returns By Period
In the year-to-date period, MEDX achieves a 3.90% return, which is significantly higher than EMES.L's 1.50% return.
MEDX
- 1D
- 3.04%
- 1M
- 5.53%
- YTD
- 3.90%
- 6M
- 3.58%
- 1Y
- 32.14%
- 3Y*
- 6.55%
- 5Y*
- —
- 10Y*
- —
EMES.L
- 1D
- 0.06%
- 1M
- 1.02%
- YTD
- 1.50%
- 6M
- 2.10%
- 1Y
- 10.68%
- 3Y*
- 9.03%
- 5Y*
- 1.35%
- 10Y*
- —
MEDX vs. EMES.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MEDX Horizon Kinetics Medical ETF | 3.90% | 28.62% | -4.68% | -6.22% |
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 1.50% | 13.10% | 5.45% | 6.22% |
Correlation
The correlation between MEDX and EMES.L is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023 | 0.25 |
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Return for Risk
MEDX vs. EMES.L — Risk / Return Rank
MEDX
EMES.L
MEDX vs. EMES.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.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.
| MEDX | EMES.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.39 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | 2.38 | +0.69 |
| Martin ratioReturn relative to average drawdown | 8.51 | 9.84 | -1.33 |
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
| MEDX | EMES.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 1.95 | -0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.16 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.35 | -0.02 |
Drawdowns
MEDX vs. EMES.L - Drawdown Comparison
The maximum MEDX drawdown since its inception was -23.10%, smaller than the maximum EMES.L drawdown of -28.84%. Use the drawdown chart below to compare losses from any high point for MEDX and EMES.L.
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Drawdown Indicators
| MEDX | EMES.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.10% | -28.84% | +5.74% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | -4.48% | -6.06% |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | -7.22% | -15.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.84% | — |
Current DrawdownCurrent decline from peak | -2.68% | -0.35% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -7.85% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 1.08% | +2.71% |
Volatility
MEDX vs. EMES.L - Volatility Comparison
Horizon Kinetics Medical ETF (MEDX) has a higher volatility of 5.68% compared to iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) at 2.26%. This indicates that MEDX's price experiences larger fluctuations and is considered to be riskier than EMES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MEDX | EMES.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | 2.26% | +3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.41% | 4.55% | +8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.12% | 5.47% | +12.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 8.28% | +8.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 9.24% | +7.80% |
MEDX vs. EMES.L - Expense Ratio Comparison
MEDX has a 0.85% expense ratio, which is higher than EMES.L's 0.45% expense ratio.
Dividends
MEDX vs. EMES.L - Dividend Comparison
MEDX's dividend yield for the trailing twelve months is around 1.19%, less than EMES.L's 5.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 5.78% | 5.78% | 5.45% | 5.41% | 5.03% | 3.48% | 3.49% | 4.60% | 0.50% |
MEDX Horizon Kinetics Medical ETF | 1.19% | 1.23% | 1.92% | 4.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MEDX and EMES.L have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMES.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMES.L is cheaper with a 0.45% expense ratio, compared with 0.85% for MEDX.
MEDX is categorized as Health & Biotech Equities, while EMES.L is Emerging Markets Bonds. They also come from different issuers: Horizon and iShares. Their fees differ too: 0.85% for MEDX and 0.45% for EMES.L.
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