SEMH.L vs. EMLP.L
SEMH.L (SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF) and EMLP.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc) are both Emerging Markets Bonds funds - SEMH.L tracks the JPM EMBI Global Diversified TR USD while EMLP.L tracks the JPM GBI-EM Global Diversified TR USD. Both are passively managed. Over the past 10 years, SEMH.L returned 3.24%/yr vs 3.99%/yr for EMLP.L. A 0.59 correlation means they provide meaningful diversification when combined. SEMH.L charges 0.42%/yr vs 0.61%/yr for EMLP.L.
Performance
SEMH.L vs. EMLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, SEMH.L achieves a 1.29% return, which is significantly lower than EMLP.L's 1.51% return. Over the past 10 years, SEMH.L has underperformed EMLP.L with an annualized return of 3.24%, while EMLP.L has yielded a comparatively higher 3.99% annualized return.
SEMH.L
- 1D
- 0.05%
- 1M
- 1.18%
- YTD
- 1.29%
- 6M
- 0.87%
- 1Y
- 6.51%
- 3Y*
- 3.36%
- 5Y*
- 3.33%
- 10Y*
- 3.24%
EMLP.L
- 1D
- -0.16%
- 1M
- 0.73%
- YTD
- 1.51%
- 6M
- 1.14%
- 1Y
- 9.68%
- 3Y*
- 3.69%
- 5Y*
- 4.40%
- 10Y*
- 3.99%
SEMH.L vs. EMLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEMH.L SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 1.29% | 0.53% | 6.47% | 0.40% | 4.24% | 0.98% | -1.05% | 2.26% | 5.87% | -5.55% |
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc | 1.51% | 9.10% | -1.68% | 7.52% | 5.55% | -4.33% | -1.55% | 9.55% | -1.46% | 2.43% |
Correlation
The correlation between SEMH.L and EMLP.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 2014 | 0.59 |
The correlation between SEMH.L and EMLP.L has been stable across timeframes, ranging from 0.55 to 0.61 - a consistent structural relationship.
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Return for Risk
SEMH.L vs. EMLP.L — Risk / Return Rank
SEMH.L
EMLP.L
SEMH.L vs. EMLP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (SEMH.L) and PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.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.
| SEMH.L | EMLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.32 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 2.25 | -0.72 |
| Martin ratioReturn relative to average drawdown | 4.17 | 6.49 | -2.31 |
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
| SEMH.L | EMLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 1.79 | -0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.54 | -0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.42 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.33 | +0.10 |
Drawdowns
SEMH.L vs. EMLP.L - Drawdown Comparison
The maximum SEMH.L drawdown since its inception was -13.63%, smaller than the maximum EMLP.L drawdown of -20.02%. Use the drawdown chart below to compare losses from any high point for SEMH.L and EMLP.L.
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Drawdown Indicators
| SEMH.L | EMLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.63% | -20.02% | +6.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.24% | -4.29% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -8.07% | -4.90% | -3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -13.61% | -11.25% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -13.63% | -19.12% | +5.49% |
Current DrawdownCurrent decline from peak | -1.48% | -2.33% | +0.85% |
Average DrawdownAverage peak-to-trough decline | -5.56% | -6.09% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.56% | 1.49% | +0.07% |
Volatility
SEMH.L vs. EMLP.L - Volatility Comparison
SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (SEMH.L) has a higher volatility of 1.65% compared to PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Acc (EMLP.L) at 1.50%. This indicates that SEMH.L's price experiences larger fluctuations and is considered to be riskier than EMLP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEMH.L | EMLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.65% | 1.50% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 4.21% | 4.23% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.89% | 5.40% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.64% | 8.09% | -0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.93% | 9.52% | -0.59% |
SEMH.L vs. EMLP.L - Expense Ratio Comparison
SEMH.L has a 0.42% expense ratio, which is lower than EMLP.L's 0.61% expense ratio.
Dividends
SEMH.L vs. EMLP.L - Dividend Comparison
SEMH.L's dividend yield for the trailing twelve months is around 4.84%, while EMLP.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF 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% |
SEMH.L SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF | 4.84% | 4.97% | 4.24% | 3.18% | 2.39% | 2.72% | 3.42% | 3.52% | 2.69% | 3.13% | 2.55% | 1.76% |
Frequently Asked Questions
SEMH.L and EMLP.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEMH.L is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEMH.L is cheaper with a 0.42% expense ratio, compared with 0.61% for EMLP.L.
SEMH.L tracks JPM EMBI Global Diversified TR USD, while EMLP.L tracks JPM GBI-EM Global Diversified TR USD. They also come from different issuers: State Street and PIMCO. Their fees differ too: 0.42% for SEMH.L and 0.61% for EMLP.L.
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