SEMB.L vs. EMLO.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and EMLO.L (UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis) are both Emerging Markets Bonds funds - SEMB.L tracks the JPM EMBI Global Diversified TR USD while EMLO.L tracks the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 5 years, SEMB.L returned 4.65%/yr vs 3.09%/yr for EMLO.L. A 0.59 correlation means they provide meaningful diversification when combined. SEMB.L charges 0.45%/yr vs 0.47%/yr for EMLO.L.
Performance
SEMB.L vs. EMLO.L - Performance Comparison
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Returns By Period
In the year-to-date period, SEMB.L achieves a 2.75% return, which is significantly higher than EMLO.L's 1.29% 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%
EMLO.L
- 1D
- -0.30%
- 1M
- 1.58%
- YTD
- 1.29%
- 6M
- 1.63%
- 1Y
- 12.01%
- 3Y*
- 6.05%
- 5Y*
- 3.09%
- 10Y*
- —
SEMB.L vs. EMLO.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 3.12% | 13.82% | 3.31% |
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 1.29% | 12.30% | 0.01% | 8.48% | -4.28% | -6.61% | -1.56% | 9.65% | 8.46% |
Correlation
The correlation between SEMB.L and EMLO.L is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Sep 12, 2018 | 0.59 |
The correlation between SEMB.L and EMLO.L has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. EMLO.L — Risk / Return Rank
SEMB.L
EMLO.L
SEMB.L vs. EMLO.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 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.
| SEMB.L | EMLO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.38 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.51 | +1.47 |
| Martin ratioReturn relative to average drawdown | 12.19 | 7.38 | +4.81 |
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 | EMLO.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.06 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.40 | +0.13 |
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 | 0.40 | +0.43 |
Drawdowns
SEMB.L vs. EMLO.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -21.74%, 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 SEMB.L and EMLO.L.
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Drawdown Indicators
| SEMB.L | EMLO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -20.42% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -4.77% | +1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -4.77% | -3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -11.88% | -1.82% |
Max Drawdown (10Y)Largest decline over 10 years | -20.43% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.20% | +2.20% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -8.77% | +4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.62% | -0.41% |
Volatility
SEMB.L vs. EMLO.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) is 1.77%, while UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis (EMLO.L) has a volatility of 1.98%. This indicates that SEMB.L experiences smaller price fluctuations and is considered to be less risky than EMLO.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 | EMLO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.98% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.87% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 5.81% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 7.65% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 8.55% | +2.12% |
SEMB.L vs. EMLO.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is lower than EMLO.L's 0.47% expense ratio.
Dividends
SEMB.L vs. EMLO.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 7.83%, more than EMLO.L's 5.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLO.L UBS ETF (LU) J.P. Morgan EM Multi-Factor Enhanced Local Currency Bond UCITS ETF (USD) A-dis | 5.51% | 5.66% | 5.13% | 4.54% | 4.40% | 4.95% | 4.94% | 5.12% | 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 EMLO.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEMB.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEMB.L is cheaper with a 0.45% expense ratio, compared with 0.47% for EMLO.L.
SEMB.L tracks JPM EMBI Global Diversified TR USD, while EMLO.L tracks JPM GBI-EM Global Diversified TR USD. They also come from different issuers: iShares and UBS. Their fees differ too: 0.45% for SEMB.L and 0.47% for EMLO.L.
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