SBEM.L vs. EMLO.L

Last updated Apr 2, 2026

Compare and contrast key facts about UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L).

SBEM.L and EMLO.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SBEM.L is a passively managed fund by UBS that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Jan 29, 2016. EMLO.L is a passively managed fund by UBS that tracks the performance of the JPM GBI-EM Global Diversified TR USD. It was launched on Sep 5, 2018. Both SBEM.L and EMLO.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

SBEM.L vs. EMLO.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L). The values are adjusted to include any dividend payments, if applicable.

SBEM.L vs. EMLO.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis	-0.32%	7.42%	9.46%	5.94%	-10.24%	-1.29%	1.28%	10.91%	2.69%
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	-0.25%	12.30%	0.01%	8.48%	-4.28%	-6.61%	-1.56%	9.65%	8.46%

Returns By Period

In the year-to-date period, SBEM.L achieves a -0.32% return, which is significantly lower than EMLO.L's -0.25% return.

SBEM.L

• 1D: 0.07%
• 1M: -2.19%
• YTD: -0.32%
• 6M: 3.70%
• 1Y: 7.76%
• 3Y*: 7.73%
• 5Y*: 3.13%
• 10Y*: 4.59%

EMLO.L

• 1D: 0.56%
• 1M: -3.31%
• YTD: -0.25%
• 6M: 3.60%
• 1Y: 10.43%
• 3Y*: 5.82%
• 5Y*: 3.37%
• 10Y*: —

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

SBEM.L vs. EMLO.L - Expense Ratio Comparison

SBEM.L has a 0.42% expense ratio, which is lower than EMLO.L's 0.47% expense ratio.

EMLO.L

UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis

SBEM.L

UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis

Return for Risk

SBEM.L vs. EMLO.L — Risk / Return Rank

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

SBEM.L

SBEM.L Risk / Return Rank: 53
SBEM.L Sharpe Ratio Rank: 51
SBEM.L Sortino Ratio Rank: 46
SBEM.L Omega Ratio Rank: 43
SBEM.L Calmar Ratio Rank: 69
SBEM.L Martin Ratio Rank: 57

EMLO.L

EMLO.L Risk / Return Rank: 82
EMLO.L Sharpe Ratio Rank: 87
EMLO.L Sortino Ratio Rank: 91
EMLO.L Omega Ratio Rank: 85
EMLO.L Calmar Ratio Rank: 74
EMLO.L Martin Ratio Rank: 75

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.

SBEM.L vs. EMLO.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.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.

	SBEM.L	EMLO.L	Difference
Sharpe ratio Return per unit of total volatility	0.97	1.90	-0.93
Sortino ratio Return per unit of downside risk	1.35	2.75	-1.41
Omega ratio Gain probability vs. loss probability	1.18	1.35	-0.17
Calmar ratio Return relative to maximum drawdown	2.00	2.25	-0.25
Martin ratio Return relative to average drawdown	6.15	8.89	-2.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBEM.L vs. EMLO.L - Sharpe Ratio Comparison

The current SBEM.L Sharpe Ratio is 0.97, which is lower than the EMLO.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SBEM.L and EMLO.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

	SBEM.L	EMLO.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	1.90	-0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.44	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.38	+0.08

Correlation

The correlation between SBEM.L and EMLO.L is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SBEM.L vs. EMLO.L - Dividend Comparison

SBEM.L's dividend yield for the trailing twelve months is around 6.72%, more than EMLO.L's 5.60% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SBEM.L UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis	6.72%	7.69%	6.28%	6.49%	5.72%	4.35%	4.92%	4.83%	4.47%	4.84%	2.27%
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis	5.60%	5.66%	5.13%	4.54%	4.40%	4.95%	4.94%	5.12%	0.00%	0.00%	0.00%

Drawdowns

SBEM.L vs. EMLO.L - Drawdown Comparison

The maximum SBEM.L drawdown since its inception was -21.61%, which is greater than EMLO.L's maximum drawdown of -20.42%. Use the drawdown chart below to compare losses from any high point for SBEM.L and EMLO.L.

Drawdown Indicators

	SBEM.L	EMLO.L	Difference
Max Drawdown Largest peak-to-trough decline	-21.61%	-20.42%	-1.19%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-4.77%	-0.82%
Max Drawdown (5Y) Largest decline over 5 years	-17.20%	-11.88%	-5.32%
Max Drawdown (10Y) Largest decline over 10 years	-21.61%	—	—
Current Drawdown Current decline from peak	-2.45%	-3.69%	+1.24%
Average Drawdown Average peak-to-trough decline	-7.35%	-8.90%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	1.21%	+0.13%

Volatility

SBEM.L vs. EMLO.L - Volatility Comparison

UBS ETF (LU) Bloomberg USD Emerging Markets Sovereign UCITS ETF (USD) A-dis (SBEM.L) and UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) have volatilities of 2.39% and 2.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBEM.L	EMLO.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	2.31%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	4.88%	4.20%	+0.68%
Volatility (1Y) Calculated over the trailing 1-year period	7.98%	5.46%	+2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.91%	7.63%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.93%	8.57%	+2.36%