PEMD.L vs. SEMC.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L).

PEMD.L and SEMC.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PEMD.L is a passively managed fund by Invesco that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Nov 16, 2017. SEMC.L is a passively managed fund by UBS that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Oct 31, 2017. Both PEMD.L and SEMC.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PEMD.L vs. SEMC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L). The values are adjusted to include any dividend payments, if applicable.

PEMD.L vs. SEMC.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	-1.32%	12.80%	6.20%	10.59%	-16.57%	-2.57%	5.25%	13.26%	-4.53%	1.11%
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis	0.30%	10.24%	7.28%	7.45%	-10.17%	0.62%	2.59%	8.65%	-0.87%	0.70%

Different Trading Currencies

PEMD.L is traded in USD, while SEMC.L is traded in GBp. To make them comparable, the SEMC.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, PEMD.L achieves a -1.32% return, which is significantly lower than SEMC.L's 0.30% return.

PEMD.L

• 1D: 0.77%
• 1M: -2.30%
• YTD: -1.32%
• 6M: 2.11%
• 1Y: 8.59%
• 3Y*: 8.37%
• 5Y*: 2.36%
• 10Y*: —

SEMC.L

• 1D: 0.14%
• 1M: -1.18%
• YTD: 0.30%
• 6M: 2.62%
• 1Y: 7.49%
• 3Y*: 8.11%
• 5Y*: 2.84%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

PEMD.L vs. SEMC.L - Expense Ratio Comparison

PEMD.L has a 0.25% expense ratio, which is lower than SEMC.L's 0.42% expense ratio.

SEMC.L

UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis

PEMD.L

Invesco Emerging Markets USD Bond UCITS ETF Dist

Return for Risk

PEMD.L vs. SEMC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEMD.L

PEMD.L Risk / Return Rank: 69
PEMD.L Sharpe Ratio Rank: 69
PEMD.L Sortino Ratio Rank: 72
PEMD.L Omega Ratio Rank: 66
PEMD.L Calmar Ratio Rank: 67
PEMD.L Martin Ratio Rank: 69

SEMC.L

SEMC.L Risk / Return Rank: 32
SEMC.L Sharpe Ratio Rank: 33
SEMC.L Sortino Ratio Rank: 31
SEMC.L Omega Ratio Rank: 27
SEMC.L Calmar Ratio Rank: 44
SEMC.L Martin Ratio Rank: 28

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PEMD.L vs. SEMC.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 UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.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	SEMC.L	Difference
Sharpe ratio Return per unit of total volatility	1.30	1.52	-0.21
Sortino ratio Return per unit of downside risk	1.93	2.25	-0.33
Omega ratio Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio Return relative to maximum drawdown	1.94	3.23	-1.30
Martin ratio Return relative to average drawdown	8.11	14.99	-6.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEMD.L vs. SEMC.L - Sharpe Ratio Comparison

The current PEMD.L Sharpe Ratio is 1.30, which is comparable to the SEMC.L Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of PEMD.L and SEMC.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PEMD.L	SEMC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	1.52	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.47	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.46	-0.25

Correlation

The correlation between PEMD.L and SEMC.L is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PEMD.L vs. SEMC.L - Dividend Comparison

PEMD.L's dividend yield for the trailing twelve months is around 5.61%, less than SEMC.L's 5.83% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist	5.61%	5.49%	5.83%	5.54%	4.94%	3.93%	3.60%	4.99%	5.36%
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis	5.83%	6.51%	5.02%	5.04%	3.98%	3.97%	4.77%	5.18%	1.98%

Drawdowns

PEMD.L vs. SEMC.L - Drawdown Comparison

The maximum PEMD.L drawdown since its inception was -26.74%, which is greater than SEMC.L's maximum drawdown of -16.63%. Use the drawdown chart below to compare losses from any high point for PEMD.L and SEMC.L.

Drawdown Indicators

	PEMD.L	SEMC.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.74%	-12.52%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-4.53%	-3.64%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	-11.89%	-14.75%
Current Drawdown Current decline from peak	-3.22%	-1.01%	-2.21%
Average Drawdown Average peak-to-trough decline	-6.59%	-5.06%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.07%	1.79%	-0.72%

Volatility

PEMD.L vs. SEMC.L - Volatility Comparison

Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) has a higher volatility of 2.75% compared to UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) at 1.90%. This indicates that PEMD.L's price experiences larger fluctuations and is considered to be riskier than SEMC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEMD.L	SEMC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	1.90%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	3.95%	3.35%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	6.59%	4.92%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.25%	6.05%	+3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.22%	6.45%	+4.77%