SEMB.L vs. VEMA.L
SEMB.L (iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist)) and VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from iShares and Vanguard respectively. Both are passively managed. Over the past 5 years, SEMB.L returned 4.65%/yr vs 3.45%/yr for VEMA.L. Their correlation of 0.94 suggests significant overlap in exposure. SEMB.L charges 0.45%/yr vs 0.25%/yr for VEMA.L.
Performance
SEMB.L vs. VEMA.L - Performance Comparison
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Different Trading Currencies
SEMB.L is traded in GBp, while VEMA.L is traded in GBP. To make them comparable, the VEMA.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 higher than VEMA.L's 1.66% 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%
VEMA.L
- 1D
- 0.22%
- 1M
- 1.94%
- YTD
- 1.66%
- 6M
- 1.43%
- 1Y
- 10.75%
- 3Y*
- 6.06%
- 5Y*
- 3.45%
- 10Y*
- —
SEMB.L vs. VEMA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% | 10.73% |
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 1.66% | 4.15% | 8.11% | 3.45% | -5.29% | -0.35% | 2.49% | 8.03% |
Correlation
The correlation between SEMB.L and VEMA.L is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.94 |
The correlation between SEMB.L and VEMA.L has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
SEMB.L vs. VEMA.L — Risk / Return Rank
SEMB.L
VEMA.L
SEMB.L vs. VEMA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.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 | VEMA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.33 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.44 | +1.54 |
| Martin ratioReturn relative to average drawdown | 12.19 | 6.67 | +5.52 |
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 | VEMA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.83 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.42 | +0.11 |
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 | 0.31 | +0.51 |
Drawdowns
SEMB.L vs. VEMA.L - Drawdown Comparison
The maximum SEMB.L drawdown since its inception was -21.74%, which is greater than VEMA.L's maximum drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for SEMB.L and VEMA.L.
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Drawdown Indicators
| SEMB.L | VEMA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.74% | -14.59% | -7.15% |
Max Drawdown (1Y)Largest decline over 1 year | -3.69% | -4.39% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -8.38% | -0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -13.70% | -11.41% | -2.29% |
Max Drawdown (10Y)Largest decline over 10 years | -20.43% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.45% | +0.45% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -6.28% | +1.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 1.61% | -0.40% |
Volatility
SEMB.L vs. VEMA.L - Volatility Comparison
iShares J.P. Morgan USD Emerging Markets Bond UCITS ETF (Dist) (SEMB.L) has a higher volatility of 1.77% compared to Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) at 1.47%. This indicates that SEMB.L's price experiences larger fluctuations and is considered to be riskier than VEMA.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 | VEMA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.47% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 4.41% | 4.07% | +0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.96% | 5.85% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.76% | 8.14% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.67% | 9.49% | +1.18% |
SEMB.L vs. VEMA.L - Expense Ratio Comparison
SEMB.L has a 0.45% expense ratio, which is higher than VEMA.L's 0.25% expense ratio.
Dividends
SEMB.L vs. VEMA.L - Dividend Comparison
SEMB.L's dividend yield for the trailing twelve months is around 7.83%, while VEMA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SEMB.L and VEMA.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.45% for SEMB.L.
Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.45% for SEMB.L and 0.25% for VEMA.L.
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