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SEMA.L vs. GLBL.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SEMA.L vs. GLBL.L

Last updated Jun 7, 2026

SEMA.L (iShares MSCI EM UCITS ETF (Acc)) and GLBL.L (SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged) are both exchange-traded funds - SEMA.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while GLBL.L is a Global Bonds fund tracking the Bloomberg Global Aggregate TR USD. Both are passively managed. Over the past 5 years, SEMA.L returned 7.74%/yr vs -0.73%/yr for GLBL.L. At a 0.05 correlation, their price movements are largely independent. SEMA.L charges 0.18%/yr vs 0.10%/yr for GLBL.L.

Performance

SEMA.L vs. GLBL.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM UCITS ETF (Acc) (SEMA.L) and SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SEMA.L is traded in GBp, while GLBL.L is traded in GBP. To make them comparable, the GLBL.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, SEMA.L achieves a 21.24% return, which is significantly higher than GLBL.L's -0.02% return.

SEMA.L

1D
-3.81%
1M
-0.76%
YTD
21.24%
6M
21.93%
1Y
46.61%
3Y*
19.04%
5Y*
7.74%
10Y*
10.44%

GLBL.L

1D
-0.10%
1M
0.52%
YTD
-0.02%
6M
-0.27%
1Y
3.33%
3Y*
0.69%
5Y*
-0.73%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SEMA.L vs. GLBL.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SEMA.L
iShares MSCI EM UCITS ETF (Acc)		21.24%25.09%9.38%3.47%-10.74%-1.60%14.69%12.62%-13.61%
GLBL.L
SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged		-0.02%0.65%0.03%-0.43%-5.99%-3.96%5.31%3.31%-23.54%

Correlation

The correlation between SEMA.L and GLBL.L is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.01

Correlation (5Y)
Calculated over the trailing 5-year period

-0.00

Correlation (All Time)
Calculated using the full available price history since Jan 29, 2018

0.05

SEMA.L vs. GLBL.L - Sectors Allocation Comparison

Sectors
SEMA.L
GLBL.L

Technology

42.9%
0.8%

Financial Services

17.8%
12.8%

Consumer Cyclical

8.6%
1.3%

Industrials

6.8%
1.2%

Communication Services

6.2%
3.2%

Basic Materials

5.9%
0.2%

Energy

3.5%
1.4%

Consumer Defensive

2.7%
0.3%

Healthcare

2.6%
0.8%

Utilities

1.9%
1.3%

Real Estate

1.0%
0.0%

Technology

SEMA.L
42.9%
GLBL.L
0.8%

Financial Services

SEMA.L
17.8%
GLBL.L
12.8%

Consumer Cyclical

SEMA.L
8.6%
GLBL.L
1.3%

Industrials

SEMA.L
6.8%
GLBL.L
1.2%

Communication Services

SEMA.L
6.2%
GLBL.L
3.2%

Basic Materials

SEMA.L
5.9%
GLBL.L
0.2%

Energy

SEMA.L
3.5%
GLBL.L
1.4%

Consumer Defensive

SEMA.L
2.7%
GLBL.L
0.3%

Healthcare

SEMA.L
2.6%
GLBL.L
0.8%

Utilities

SEMA.L
1.9%
GLBL.L
1.3%

Real Estate

SEMA.L
1.0%
GLBL.L
0.0%

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iShares MSCI EM UCITS ETF (Acc)

SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged

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Often compared with GLBL.L:
GLBL.L vs. SHLDGLBL.L vs. GAGG.LGLBL.L vs. GLAD.LGLBL.L vs. GLAU.LGLBL.L vs. PRIG.LGLBL.L vs. GLAB.LGLBL.L vs. AGHG.L

Return for Risk

SEMA.L vs. GLBL.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SEMA.L
SEMA.L Risk / Return Rank: 8585
Overall Rank
SEMA.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
SEMA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SEMA.L Omega Ratio Rank: 8787
Omega Ratio Rank
SEMA.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
SEMA.L Martin Ratio Rank: 8282
Martin Ratio Rank
GLBL.L
GLBL.L Risk / Return Rank: 2121
Overall Rank
GLBL.L Sharpe Ratio Rank: 2323
Sharpe Ratio Rank
GLBL.L Sortino Ratio Rank: 2222
Sortino Ratio Rank
GLBL.L Omega Ratio Rank: 2121
Omega Ratio Rank
GLBL.L Calmar Ratio Rank: 2121
Calmar Ratio Rank
GLBL.L Martin Ratio Rank: 1919
Martin Ratio Rank
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.

SEMA.L vs. GLBL.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM UCITS ETF (Acc) (SEMA.L) and SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.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.

SEMA.LGLBL.LDifference
Sharpe ratioReturn per unit of total volatility
2.68
0.73

+1.95

Sortino ratioReturn per unit of downside risk
3.43
1.15

+2.28

Omega ratioGain probability vs. loss probability

1.50

1.13

+0.37

Calmar ratioReturn relative to maximum drawdown

4.27

0.88

+3.38

Martin ratioReturn relative to average drawdown

15.07

1.84

+13.23

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEMA.L vs. GLBL.L - Sharpe Ratio Comparison

The current SEMA.L Sharpe Ratio is 2.68, which is higher than the GLBL.L Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of SEMA.L and GLBL.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SEMA.LGLBL.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.68

0.73

+1.95

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

-0.11

+0.48

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

-0.27

+0.36

Drawdowns

SEMA.L vs. GLBL.L - Drawdown Comparison

The maximum SEMA.L drawdown since its inception was -46.27%, which is greater than GLBL.L's maximum drawdown of -30.13%. Use the drawdown chart below to compare losses from any high point for SEMA.L and GLBL.L.

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Drawdown Indicators

SEMA.LGLBL.LDifference

Max Drawdown

Largest peak-to-trough decline

-46.27%

-30.13%

-16.14%

Max Drawdown (1Y)

Largest decline over 1 year

-10.95%

-3.76%

-7.19%

Max Drawdown (3Y)

Largest decline over 3 years

-22.90%

-4.91%

-17.99%

Max Drawdown (5Y)

Largest decline over 5 years

-23.52%

-14.10%

-9.42%

Max Drawdown (10Y)

Largest decline over 10 years

-27.06%

—

—

Current Drawdown

Current decline from peak

-6.09%

-24.72%

+18.63%

Average Drawdown

Average peak-to-trough decline

-19.64%

-23.09%

+3.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

1.80%

+1.31%

Volatility

SEMA.L vs. GLBL.L - Volatility Comparison

iShares MSCI EM UCITS ETF (Acc) (SEMA.L) has a higher volatility of 8.00% compared to SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged (GLBL.L) at 1.34%. This indicates that SEMA.L's price experiences larger fluctuations and is considered to be riskier than GLBL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SEMA.LGLBL.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.00%

1.34%

+6.66%

Volatility (6M)

Calculated over the trailing 6-month period

15.11%

3.31%

+11.80%

Volatility (1Y)

Calculated over the trailing 1-year period

17.44%

4.52%

+12.92%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.11%

6.63%

+14.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.33%

12.34%

+7.99%

SEMA.L vs. GLBL.L - Expense Ratio Comparison

SEMA.L has a 0.18% expense ratio, which is higher than GLBL.L's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SEMA.L vs. GLBL.L - Dividend Comparison

SEMA.L has not paid dividends to shareholders, while GLBL.L's dividend yield for the trailing twelve months is around 3.15%.

PositionTTM20252024202320222021202020192018
GLBL.L
SPDR Bloomberg Barclays Global Aggregate Bond UCITS USD unhedged		3.15%3.14%2.76%2.05%1.39%1.22%1.54%1.67%1.06%
SEMA.L
iShares MSCI EM UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SEMA.L and GLBL.L have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, GLBL.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

GLBL.L is cheaper with a 0.10% expense ratio, compared with 0.18% for SEMA.L.

SEMA.L is categorized as Emerging Markets Equities, while GLBL.L is Global Bonds. SEMA.L tracks MSCI EM NR USD, while GLBL.L tracks Bloomberg Global Aggregate TR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for SEMA.L and 0.10% for GLBL.L.

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