SEMB.L vs. FSEM.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) are both Emerging Markets Bonds funds. SEMB.L is passively managed, while FSEM.L is actively managed. Over the past 5 years, SEMB.L returned 4.65%/yr vs 2.63%/yr for FSEM.L. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.
Performance
SEMB.L vs. FSEM.L - Performance Comparison
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Different Trading Currencies
SEMB.L is traded in GBp, while FSEM.L is traded in USD. To make them comparable, the FSEM.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 FSEM.L's 3.32% 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%
FSEM.L
- 1D
- 0.09%
- 1M
- 1.82%
- YTD
- 3.32%
- 6M
- 2.73%
- 1Y
- 13.62%
- 3Y*
- 6.08%
- 5Y*
- 2.63%
- 10Y*
- —
SEMB.L vs. FSEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SEMB.L iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) | 2.75% | 8.06% | 9.19% | 6.03% | -7.53% | 7.02% |
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 3.32% | 5.25% | 5.32% | 3.38% | -8.14% | 4.21% |
Correlation
The correlation between SEMB.L and FSEM.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.67 |
The correlation between SEMB.L and FSEM.L has been stable across timeframes, ranging from 0.67 to 0.73 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. FSEM.L — Risk / Return Rank
SEMB.L
FSEM.L
SEMB.L vs. FSEM.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 Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.21 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.32 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.38 | +1.60 |
| Martin ratioReturn relative to average drawdown | 12.19 | 6.80 | +5.38 |
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 | FSEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.72 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.26 | +0.27 |
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 | 0.24 | +0.58 |
Drawdowns
SEMB.L vs. FSEM.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -21.74%, which is greater than FSEM.L's maximum drawdown of -15.36%. Use the drawdown chart below to compare losses from any high point for SEMB.L and FSEM.L.
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Drawdown Indicators
| SEMB.L | FSEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -15.36% | -6.38% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -5.70% | +2.01% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -9.08% | +0.39% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -15.36% | +1.66% |
Max Drawdown (10Y)Largest decline over 10 years | -20.43% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.12% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -6.53% | +2.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 2.00% | -0.79% |
Volatility
SEMB.L vs. FSEM.L - Volatility Comparison
The current volatility for iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) is 1.77%, while Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) has a volatility of 2.91%. This indicates that SEMB.L experiences smaller price fluctuations and is considered to be less risky than FSEM.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 | FSEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 2.91% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 6.39% | -1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 7.90% | -1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 10.22% | -1.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 10.13% | +0.54% |
SEMB.L vs. FSEM.L - Expense Ratio Comparison
Both SEMB.L and FSEM.L have an expense ratio of 0.45%.
Dividends
SEMB.L vs. FSEM.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 7.83%, which matches FSEM.L's 7.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% | 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 FSEM.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SEMB.L and FSEM.L have the same expense ratio: 0.45% per year.
They also come from different issuers: iShares and Fidelity.
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