SEMB.L vs. EMD5.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and EMD5.L (L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist)) are both Emerging Markets Bonds funds - SEMB.L tracks the JPM EMBI Global Diversified TR USD while EMD5.L tracks the J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index. Both are passively managed. Over the past 5 years, SEMB.L returned 2.24%/yr vs 2.74%/yr for EMD5.L. A 0.65 correlation means they provide meaningful diversification when combined. SEMB.L charges 0.45%/yr vs 0.25%/yr for EMD5.L.
Performance
SEMB.L vs. EMD5.L - Performance Comparison
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Different Trading Currencies
SEMB.L is traded in GBp, while EMD5.L is traded in USD. To make them comparable, the EMD5.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 1.75% return, which is significantly higher than EMD5.L's -1.42% return.
SEMB.L
- 1D
- 0.31%
- 1M
- -0.95%
- 6M
- 1.37%
- YTD
- 1.75%
- 1Y
- 9.37%
- 3Y*
- 7.59%
- 5Y*
- 2.24%
- 10Y*
- 2.68%
EMD5.L
- 1D
- -0.99%
- 1M
- -2.04%
- 6M
- 0.33%
- YTD
- -1.42%
- 1Y
- 2.76%
- 3Y*
- 5.94%
- 5Y*
- 2.74%
- 10Y*
- —
SEMB.L vs. EMD5.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) | 1.75% | 5.97% | 7.45% | 4.49% | -8.67% | -1.06% | 0.38% |
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | -1.42% | 2.30% | 10.30% | 2.45% | 0.24% | 0.67% | -0.87% |
Correlation
The correlation between SEMB.L and EMD5.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2020 | 0.65 |
The correlation between SEMB.L and EMD5.L has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. EMD5.L — Risk / Return Rank
SEMB.L
EMD5.L
SEMB.L vs. EMD5.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 Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SEMB.L | EMD5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.07 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 0.37 | +1.91 |
| Martin ratioReturn relative to average drawdown | 6.46 | 0.91 | +5.55 |
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Drawdowns
SEMB.L vs. EMD5.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -22.69%, which is greater than EMD5.L's maximum drawdown of -12.98%. Use the drawdown chart below to compare losses from any high point for SEMB.L and EMD5.L.
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Drawdown Indicators
| SEMB.L | EMD5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -12.98% | -9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -6.62% | +2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -7.39% | -1.57% |
Max Drawdown (5Y)Largest decline over 5 years | -14.43% | -12.98% | -1.45% |
Max Drawdown (10Y)Largest decline over 10 years | -21.06% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -3.43% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -4.59% | -1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 2.71% | -1.26% |
Volatility
SEMB.L vs. EMD5.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) is 1.54%, while L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) (EMD5.L) has a volatility of 2.12%. This indicates that SEMB.L experiences smaller price fluctuations and is considered to be less risky than EMD5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEMB.L | EMD5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 2.12% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 5.37% | -0.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 6.74% | -0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 8.09% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.22% | 7.96% | +2.26% |
SEMB.L vs. EMD5.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is higher than EMD5.L's 0.25% expense ratio.
Dividends
SEMB.L vs. EMD5.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 5.81%, while EMD5.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMD5.L L&G Emerging Markets Government Bond (USD) 0-5 Year Screened UCITS ETF USD (Dist) | 0.00% | 5.66% | 6.09% | 4.60% | 3.04% | 1.25% | 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) | 5.81% | 5.97% | 5.70% | 5.78% | 5.41% | 3.88% | 4.11% | 4.88% | 4.63% | 5.03% | 5.07% | 4.63% |
Frequently Asked Questions
SEMB.L and EMD5.L have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMD5.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMD5.L is cheaper with a 0.25% expense ratio, compared with 0.45% for SEMB.L.
SEMB.L tracks JPM EMBI Global Diversified TR USD, while EMD5.L tracks J.P. Morgan ESG EMBI Global Diversified Short-Term Custom Maturity Index. They also come from different issuers: iShares and L&G. Their fees differ too: 0.45% for SEMB.L and 0.25% for EMD5.L.
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