PEMD.L vs. IEMB.L
PEMD.L (Invesco Emerging Markets USD Bond UCITS ETF Dist) and IEMB.L (iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds. Over the past 5 years, PEMD.L returned 2.29%/yr vs 1.91%/yr for IEMB.L. Their correlation of 0.90 suggests significant overlap in exposure. PEMD.L charges 0.25%/yr vs 0.45%/yr for IEMB.L.
Performance
PEMD.L vs. IEMB.L - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with PEMD.L having a 1.58% return and IEMB.L slightly higher at 1.62%.
PEMD.L
- 1D
- 0.75%
- 1M
- 1.05%
- YTD
- 1.58%
- 6M
- 2.07%
- 1Y
- 10.10%
- 3Y*
- 9.49%
- 5Y*
- 2.29%
- 10Y*
- —
IEMB.L
- 1D
- 0.41%
- 1M
- 1.01%
- YTD
- 1.62%
- 6M
- 2.22%
- 1Y
- 11.20%
- 3Y*
- 9.72%
- 5Y*
- 1.91%
- 10Y*
- 3.32%
PEMD.L vs. IEMB.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 1.58% | 12.80% | 6.20% | 10.59% | -16.57% | -2.57% | 5.25% | 13.26% | -4.53% | 1.11% |
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 1.62% | 13.71% | 5.70% | 10.54% | -18.35% | -2.28% | 5.57% | 16.06% | -5.53% | 1.36% |
Correlation
The correlation between PEMD.L and IEMB.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2017 | 0.90 |
The correlation between PEMD.L and IEMB.L has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
PEMD.L vs. IEMB.L — Risk / Return Rank
PEMD.L
IEMB.L
PEMD.L vs. IEMB.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) and iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.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.
| PEMD.L | IEMB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.37 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 2.58 | -0.33 |
| Martin ratioReturn relative to average drawdown | 8.86 | 10.73 | -1.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| PEMD.L | IEMB.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 1.88 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.21 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.51 | -0.26 |
Drawdowns
PEMD.L vs. IEMB.L - Drawdown Comparison
The maximum PEMD.L drawdown since its inception was -26.74%, smaller than the maximum IEMB.L drawdown of -32.08%. Use the drawdown chart below to compare losses from any high point for PEMD.L and IEMB.L.
Loading charts...
Drawdown Indicators
| PEMD.L | IEMB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.74% | -32.08% | +5.34% |
Max Drawdown (1Y)Largest decline over 1 year | -4.46% | -4.32% | -0.14% |
Max Drawdown (3Y)Largest decline over 3 years | -8.00% | -7.54% | -0.46% |
Max Drawdown (5Y)Largest decline over 5 years | -26.64% | -28.62% | +1.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.62% | — |
Current DrawdownCurrent decline from peak | -0.36% | -0.11% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -5.02% | -1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.14% | 1.04% | +0.10% |
Volatility
PEMD.L vs. IEMB.L - Volatility Comparison
The current volatility for Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) is 2.41%, while iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) (IEMB.L) has a volatility of 2.57%. This indicates that PEMD.L experiences smaller price fluctuations and is considered to be less risky than IEMB.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| PEMD.L | IEMB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.41% | 2.57% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 4.64% | 4.93% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.98% | 5.95% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.31% | 8.87% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.17% | 9.25% | +1.92% |
PEMD.L vs. IEMB.L - Expense Ratio Comparison
PEMD.L has a 0.25% expense ratio, which is lower than IEMB.L's 0.45% expense ratio.
Dividends
PEMD.L vs. IEMB.L - Dividend Comparison
PEMD.L's dividend yield for the trailing twelve months is around 5.45%, less than IEMB.L's 5.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMB.L iShares J.P. Morgan USD EM Bond UCITS ETF USD (Dist) | 5.83% | 5.85% | 5.80% | 5.65% | 5.55% | 3.95% | 3.86% | 4.73% | 4.82% | 4.79% | 5.57% | 4.78% |
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 5.45% | 5.49% | 5.83% | 5.54% | 4.94% | 3.93% | 3.60% | 4.99% | 5.36% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PEMD.L and IEMB.L have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PEMD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PEMD.L is cheaper with a 0.25% expense ratio, compared with 0.45% for IEMB.L.
They also come from different issuers: Invesco and iShares. Their fees differ too: 0.25% for PEMD.L and 0.45% for IEMB.L.
Find the right allocation for PEMD.L and IEMB.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer