SEMB.L vs. DRGN.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and DRGN.L (L&G China CNY Bond UCITS ETF) are both Emerging Markets Bonds funds. SEMB.L is passively managed, while DRGN.L is actively managed. Over the past 5 years, SEMB.L returned 4.65%/yr vs 3.36%/yr for DRGN.L. At a 0.40 correlation, their price movements are largely independent. SEMB.L charges 0.45%/yr vs 0.30%/yr for DRGN.L.
Performance
SEMB.L vs. DRGN.L - Performance Comparison
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Different Trading Currencies
SEMB.L is traded in GBp, while DRGN.L is traded in USD. To make them comparable, the DRGN.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, SEMB.L achieves a 2.75% return, which is significantly lower than DRGN.L's 5.05% return.
SEMB.L
- 1D
- 0.37%
- 1M
- 2.16%
- YTD
- 2.75%
- 6M
- 2.73%
- 1Y
- 14.74%
- 3Y*
- 8.83%
- 5Y*
- 4.65%
- 10Y*
- 5.65%
DRGN.L
- 1D
- -0.08%
- 1M
- 2.30%
- YTD
- 5.05%
- 6M
- 5.55%
- 1Y
- 9.27%
- 3Y*
- 2.36%
- 5Y*
- 3.36%
- 10Y*
- —
SEMB.L vs. DRGN.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 2.75% | 8.06% | 9.19% | 6.03% | -7.53% | 0.41% | -0.15% |
DRGN.L L&G China CNY Bond UCITS ETF | 5.05% | -2.08% | 4.95% | -4.56% | 5.93% | 8.17% | -1.03% |
Correlation
The correlation between SEMB.L and DRGN.L is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2020 | 0.40 |
The correlation between SEMB.L and DRGN.L shifts across timeframes, from 0.37 (5 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SEMB.L vs. DRGN.L — Risk / Return Rank
SEMB.L
DRGN.L
SEMB.L vs. DRGN.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) and L&G China CNY Bond UCITS ETF (DRGN.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.
| SEMB.L | DRGN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.04 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.27 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.93 | +1.04 |
| Martin ratioReturn relative to average drawdown | 12.19 | 8.53 | +3.66 |
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
| SEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.42 | +1.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.44 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.82 | 0.38 | +0.44 |
Drawdowns
SEMB.L vs. DRGN.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -21.74%, which is greater than DRGN.L's maximum drawdown of -16.74%. Use the drawdown chart below to compare losses from any high point for SEMB.L and DRGN.L.
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Drawdown Indicators
| SEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -16.74% | -5.00% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -3.15% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -9.14% | +0.45% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -16.74% | +3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -20.43% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.57% | +5.57% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -7.74% | +3.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.09% | +0.12% |
Volatility
SEMB.L vs. DRGN.L - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) and L&G China CNY Bond UCITS ETF (DRGN.L) have volatilities of 1.77% and 1.82%, 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.
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Volatility by Period
| SEMB.L | DRGN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.82% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 5.18% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 6.51% | -0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 7.58% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 7.55% | +3.12% |
SEMB.L vs. DRGN.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is higher than DRGN.L's 0.30% expense ratio.
Dividends
SEMB.L vs. DRGN.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 7.83%, more than DRGN.L's 1.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRGN.L L&G China CNY Bond UCITS ETF | 1.63% | 1.94% | 2.31% | 2.45% | 2.76% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 7.83% | 7.87% | 7.27% | 7.21% | 6.70% | 5.35% | 5.28% | 6.25% | 6.15% | 6.48% | 6.88% | 7.10% |
Frequently Asked Questions
SEMB.L and DRGN.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DRGN.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DRGN.L is cheaper with a 0.30% expense ratio, compared with 0.45% for SEMB.L.
They also come from different issuers: iShares and Legal & General. Their fees differ too: 0.45% for SEMB.L and 0.30% for DRGN.L.
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