SEMH.L vs. VEMA.L

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (SEMH.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L).

SEMH.L and VEMA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SEMH.L is a passively managed fund by State Street that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Nov 12, 2014. VEMA.L is a passively managed fund by Vanguard that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Feb 19, 2019. Both SEMH.L and VEMA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SEMH.L vs. VEMA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (SEMH.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L). The values are adjusted to include any dividend payments, if applicable.

SEMH.L vs. VEMA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SEMH.L SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	1.05%	0.53%	6.47%	0.40%	4.24%	0.98%	-1.05%	2.33%
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating	-0.07%	4.15%	8.11%	3.45%	-5.29%	-0.35%	2.49%	8.03%

Returns By Period

In the year-to-date period, SEMH.L achieves a 1.05% return, which is significantly higher than VEMA.L's -0.07% return.

SEMH.L

• 1D: -0.49%
• 1M: -0.22%
• YTD: 1.05%
• 6M: 2.98%
• 1Y: 2.55%
• 3Y*: 3.19%
• 5Y*: 3.05%
• 10Y*: 3.12%

VEMA.L

• 1D: -0.16%
• 1M: -1.68%
• YTD: -0.07%
• 6M: 2.92%
• 1Y: 4.73%
• 3Y*: 5.28%
• 5Y*: 3.03%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SEMH.L vs. VEMA.L - Expense Ratio Comparison

SEMH.L has a 0.42% expense ratio, which is higher than VEMA.L's 0.25% expense ratio.

SEMH.L

SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF

VEMA.L

Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating

Return for Risk

SEMH.L vs. VEMA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEMH.L

SEMH.L Risk / Return Rank: 21
SEMH.L Sharpe Ratio Rank: 22
SEMH.L Sortino Ratio Rank: 20
SEMH.L Omega Ratio Rank: 18
SEMH.L Calmar Ratio Rank: 24
SEMH.L Martin Ratio Rank: 19

VEMA.L

VEMA.L Risk / Return Rank: 31
VEMA.L Sharpe Ratio Rank: 32
VEMA.L Sortino Ratio Rank: 28
VEMA.L Omega Ratio Rank: 27
VEMA.L Calmar Ratio Rank: 40
VEMA.L Martin Ratio Rank: 29

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SEMH.L vs. VEMA.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 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.

	SEMH.L	VEMA.L	Difference
Sharpe ratio Return per unit of total volatility	0.40	0.65	-0.25
Sortino ratio Return per unit of downside risk	0.61	0.92	-0.31
Omega ratio Gain probability vs. loss probability	1.07	1.12	-0.05
Calmar ratio Return relative to maximum drawdown	0.65	1.17	-0.52
Martin ratio Return relative to average drawdown	1.29	2.70	-1.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEMH.L vs. VEMA.L - Sharpe Ratio Comparison

The current SEMH.L Sharpe Ratio is 0.40, which is lower than the VEMA.L Sharpe Ratio of 0.65. The chart below compares the historical Sharpe Ratios of SEMH.L and VEMA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SEMH.L	VEMA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.40	0.65	-0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.37	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.29	+0.14

Correlation

The correlation between SEMH.L and VEMA.L is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SEMH.L vs. VEMA.L - Dividend Comparison

SEMH.L's dividend yield for the trailing twelve months is around 4.85%, while VEMA.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SEMH.L SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF	4.85%	4.97%	4.24%	3.18%	2.39%	2.72%	3.42%	3.52%	2.69%	3.13%	2.55%	1.76%
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%

Drawdowns

SEMH.L vs. VEMA.L - Drawdown Comparison

The maximum SEMH.L drawdown since its inception was -13.63%, smaller than the maximum VEMA.L drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for SEMH.L and VEMA.L.

Drawdown Indicators

	SEMH.L	VEMA.L	Difference
Max Drawdown Largest peak-to-trough decline	-13.63%	-14.59%	+0.96%
Max Drawdown (1Y) Largest decline over 1 year	-4.52%	-4.57%	+0.05%
Max Drawdown (5Y) Largest decline over 5 years	-13.61%	-11.41%	-2.20%
Max Drawdown (10Y) Largest decline over 10 years	-13.63%	—	—
Current Drawdown Current decline from peak	-1.72%	-2.14%	+0.42%
Average Drawdown Average peak-to-trough decline	-5.61%	-6.38%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	1.90%	+0.38%

Volatility

SEMH.L vs. VEMA.L - Volatility Comparison

SPDR ICE BofA 0-5 Year EM USD Government Bond UCITS ETF (SEMH.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) have volatilities of 1.94% and 1.90%, 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.

Volatility by Period

	SEMH.L	VEMA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.94%	1.90%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	4.25%	4.40%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	7.28%	-0.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.66%	8.20%	-0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.97%	9.58%	-0.61%