SEML.L vs. 4GLD.DE
SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) and 4GLD.DE (Xetra-Gold) are both exchange-traded funds - SEML.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while 4GLD.DE is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, SEML.L returned -2.50%/yr vs 14.46%/yr for 4GLD.DE. At a 0.28 correlation, their price movements are largely independent. SEML.L charges 0.50%/yr vs 0.00%/yr for 4GLD.DE.
Performance
SEML.L vs. 4GLD.DE - Performance Comparison
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Different Trading Currencies
SEML.L is traded in GBP, while 4GLD.DE is traded in EUR. To make them comparable, the 4GLD.DE values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SEML.L achieves a -3.02% return, which is significantly lower than 4GLD.DE's 1.99% return. Over the past 10 years, SEML.L has underperformed 4GLD.DE with an annualized return of -2.50%, while 4GLD.DE has yielded a comparatively higher 14.46% annualized return.
SEML.L
- 1D
- 0.15%
- 1M
- 0.94%
- YTD
- -3.02%
- 6M
- -2.69%
- 1Y
- 2.96%
- 3Y*
- -1.63%
- 5Y*
- -3.37%
- 10Y*
- -2.50%
4GLD.DE
- 1D
- 0.69%
- 1M
- -1.34%
- YTD
- 1.99%
- 6M
- 5.39%
- 1Y
- 33.79%
- 3Y*
- 28.37%
- 5Y*
- 20.02%
- 10Y*
- 14.46%
SEML.L vs. 4GLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | -3.02% | 4.32% | -6.40% | 0.23% | -5.32% | -13.17% | -6.26% | 2.59% | -6.78% | -1.81% |
4GLD.DE Xetra-Gold | 1.94% | 57.09% | 28.71% | 7.13% | 12.98% | -3.31% | 19.44% | 14.94% | 4.66% | 2.53% |
Correlation
The correlation between SEML.L and 4GLD.DE is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011 | 0.28 |
The correlation between SEML.L and 4GLD.DE shifts across timeframes, from 0.20 (1 year) to 0.31 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
SEML.L vs. 4GLD.DE — Risk / Return Rank
SEML.L
4GLD.DE
SEML.L vs. 4GLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) and Xetra-Gold (4GLD.DE). 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.
| SEML.L | 4GLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.28 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 1.95 | -1.44 |
| Martin ratioReturn relative to average drawdown | 1.16 | 5.14 | -3.97 |
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
| SEML.L | 4GLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 1.46 | -1.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | 1.22 | -1.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.91 | -1.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.65 | -0.95 |
Drawdowns
SEML.L vs. 4GLD.DE - Drawdown Comparison
The maximum SEML.L drawdown since its inception was -66.68%, which is greater than 4GLD.DE's maximum drawdown of -40.90%. Use the drawdown chart below to compare losses from any high point for SEML.L and 4GLD.DE.
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Drawdown Indicators
| SEML.L | 4GLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.68% | -40.90% | -25.78% |
Max Drawdown (1Y)Largest decline over 1 year | -5.65% | -17.27% | +11.62% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -17.27% | +7.32% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -17.27% | -2.84% |
Max Drawdown (10Y)Largest decline over 10 years | -39.61% | -22.46% | -17.15% |
Current DrawdownCurrent decline from peak | -65.00% | -15.60% | -49.40% |
Average DrawdownAverage peak-to-trough decline | -54.41% | -12.90% | -41.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 6.56% | -4.10% |
Volatility
SEML.L vs. 4GLD.DE - Volatility Comparison
The current volatility for iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) is 1.79%, while Xetra-Gold (4GLD.DE) has a volatility of 5.10%. This indicates that SEML.L experiences smaller price fluctuations and is considered to be less risky than 4GLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SEML.L | 4GLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 5.10% | -3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 5.19% | 19.99% | -14.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.73% | 23.11% | -16.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 16.20% | -7.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.11% | 15.78% | -5.67% |
SEML.L vs. 4GLD.DE - Expense Ratio Comparison
SEML.L has a 0.50% expense ratio, which is higher than 4GLD.DE's 0.00% expense ratio.
Dividends
SEML.L vs. 4GLD.DE - Dividend Comparison
SEML.L's dividend yield for the trailing twelve months is around 0.03%, while 4GLD.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
4GLD.DE Xetra-Gold | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SEML.L iShares J.P. Morgan EM Local Government Bond UCITS ETF | 0.03% | 0.05% | 0.06% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% | 0.03% |
Frequently Asked Questions
SEML.L and 4GLD.DE have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, 4GLD.DE is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
4GLD.DE is cheaper with a 0.00% expense ratio, compared with 0.50% for SEML.L.
SEML.L is categorized as Emerging Markets Bonds, while 4GLD.DE is Gold. SEML.L tracks JPM GBI-EM Global Diversified TR USD, while 4GLD.DE tracks LBMA Gold Price. They also come from different issuers: iShares and Deutsche Börse Commodities. Their fees differ too: 0.50% for SEML.L and 0.00% for 4GLD.DE.
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