SEMB.L vs. HYGB.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and HYGB.L (VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - SEMB.L tracks the JPM EMBI Global Diversified TR USD while HYGB.L tracks the ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. Both are passively managed. Over the past 5 years, SEMB.L returned 2.24%/yr vs 3.29%/yr for HYGB.L. A 0.66 correlation means they provide meaningful diversification when combined. SEMB.L charges 0.45%/yr vs 0.40%/yr for HYGB.L.
Performance
SEMB.L vs. HYGB.L - Performance Comparison
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Different Trading Currencies
SEMB.L is traded in GBp, while HYGB.L is traded in GBP. To make them comparable, the HYGB.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 lower than HYGB.L's 3.73% 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%
HYGB.L
- 1D
- 0.36%
- 1M
- -0.41%
- 6M
- 2.50%
- YTD
- 3.73%
- 1Y
- 7.76%
- 3Y*
- 8.68%
- 5Y*
- 3.29%
- 10Y*
- —
SEMB.L vs. HYGB.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) | 1.75% | 5.97% | 7.45% | 4.49% | -8.67% | -1.06% | 1.93% | 12.26% | 6.98% |
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 3.73% | 1.56% | 13.72% | 1.66% | -2.52% | 0.59% | 1.90% | 10.99% | -23.28% |
Correlation
The correlation between SEMB.L and HYGB.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 | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Mar 20, 2018 | 0.66 |
The correlation between SEMB.L and HYGB.L has been stable across timeframes, ranging from 0.62 to 0.68 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. HYGB.L — Risk / Return Rank
SEMB.L
HYGB.L
SEMB.L vs. HYGB.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 VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.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 | HYGB.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.21 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.28 | 2.33 | -0.05 |
| Martin ratioReturn relative to average drawdown | 6.46 | 5.93 | +0.53 |
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Drawdowns
SEMB.L vs. HYGB.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -22.69%, smaller than the maximum HYGB.L drawdown of -26.72%. Use the drawdown chart below to compare losses from any high point for SEMB.L and HYGB.L.
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Drawdown Indicators
| SEMB.L | HYGB.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.69% | -26.72% | +4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -3.31% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -8.96% | -8.96% | 0.00% |
Max Drawdown (5Y)Largest decline over 5 years | -14.43% | -23.02% | +8.59% |
Max Drawdown (10Y)Largest decline over 10 years | -21.06% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -1.93% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -14.28% | +8.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.30% | +0.15% |
Volatility
SEMB.L vs. HYGB.L - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) and VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) (HYGB.L) have volatilities of 1.54% and 1.48%, 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 | HYGB.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.54% | 1.48% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 4.56% | 4.96% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.09% | 6.52% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 18.18% | -9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.22% | 17.40% | -7.18% |
SEMB.L vs. HYGB.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is higher than HYGB.L's 0.40% expense ratio.
Dividends
SEMB.L vs. HYGB.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 5.81%, while HYGB.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HYGB.L VanEck Emerging Markets High Yield Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 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 HYGB.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.
On fees, HYGB.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HYGB.L is cheaper with a 0.40% expense ratio, compared with 0.45% for SEMB.L.
SEMB.L tracks JPM EMBI Global Diversified TR USD, while HYGB.L tracks ICE BofAML Diversified High Yield US Emerging Markets Corporate Plus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.45% for SEMB.L and 0.40% for HYGB.L.
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