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SEML.L vs. CHFUSD=X
Performance
Return for Risk
Drawdowns
Volatility

SEML.L vs. CHFUSD=X

Last updated Jun 5, 2026

SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) is Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while CHFUSD=X (USD/CHF) is a currency. Over the past 10 years, SEML.L returned -2.50%/yr vs 2.82%/yr for CHFUSD=X. At a 0.30 correlation, their price movements are largely independent.

Performance

SEML.L vs. CHFUSD=X - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) and USD/CHF (CHFUSD=X). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SEML.L is traded in GBP, while CHFUSD=X is traded in USD. To make them comparable, the CHFUSD=X 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 CHFUSD=X's 0.49% return. Over the past 10 years, SEML.L has underperformed CHFUSD=X with an annualized return of -2.50%, while CHFUSD=X has yielded a comparatively higher 2.82% 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%

CHFUSD=X

1D
-0.29%
1M
-0.40%
YTD
0.49%
6M
0.94%
1Y
4.87%
3Y*
2.00%
5Y*
3.68%
10Y*
2.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SEML.L vs. CHFUSD=X - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
CHFUSD=X
USD/CHF		0.49%6.40%-5.68%4.34%10.39%-2.05%6.21%-2.60%5.29%-4.49%

Correlation

The correlation between SEML.L and CHFUSD=X is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.27

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (10Y)
Calculated over the trailing 10-year period

0.35

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2011

0.30

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iShares J.P. Morgan EM Local Government Bond UCITS ETF

USD/CHF

Often compared with SEML.L:
SEML.L vs. SEMB.LSEML.L vs. SEDY.LSEML.L vs. EMLCSEML.L vs. EMGA.LSEML.L vs. EMLO.LSEML.L vs. TP05.LSEML.L vs. EMGB.L
Often compared with CHFUSD=X:
CHFUSD=X vs. SPYCHFUSD=X vs. VTCHFUSD=X vs. GBP=XCHFUSD=X vs. FXFCHFUSD=X vs. GLDCHFUSD=X vs. UUPCHFUSD=X vs. GOLD

Return for Risk

SEML.L vs. CHFUSD=X — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SEML.L
SEML.L Risk / Return Rank: 1515
Overall Rank
SEML.L Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
SEML.L Sortino Ratio Rank: 1414
Sortino Ratio Rank
SEML.L Omega Ratio Rank: 1616
Omega Ratio Rank
SEML.L Calmar Ratio Rank: 1515
Calmar Ratio Rank
SEML.L Martin Ratio Rank: 1515
Martin Ratio Rank
CHFUSD=X
CHFUSD=X Risk / Return Rank: 6666
Overall Rank
CHFUSD=X Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
CHFUSD=X Sortino Ratio Rank: 6666
Sortino Ratio Rank
CHFUSD=X Omega Ratio Rank: 6565
Omega Ratio Rank
CHFUSD=X Calmar Ratio Rank: 6868
Calmar Ratio Rank
CHFUSD=X Martin Ratio Rank: 6868
Martin Ratio Rank
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.

SEML.L vs. CHFUSD=X - 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 USD/CHF (CHFUSD=X). 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.LCHFUSD=XDifference
Sharpe ratioReturn per unit of total volatility
0.42
0.78

-0.35

Sortino ratioReturn per unit of downside risk
0.58
1.19

-0.61

Omega ratioGain probability vs. loss probability

1.09

1.14

-0.06

Calmar ratioReturn relative to maximum drawdown

0.51

1.21

-0.71

Martin ratioReturn relative to average drawdown

1.16

2.42

-1.25

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEML.L vs. CHFUSD=X - Sharpe Ratio Comparison

The current SEML.L Sharpe Ratio is 0.42, which is lower than the CHFUSD=X Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of SEML.L and CHFUSD=X, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SEML.LCHFUSD=XDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.42

0.78

-0.35

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.40

0.47

-0.88

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

-0.25

0.32

-0.56

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.30

0.38

-0.68

Drawdowns

SEML.L vs. CHFUSD=X - Drawdown Comparison

The maximum SEML.L drawdown since its inception was -66.68%, which is greater than CHFUSD=X's maximum drawdown of -24.45%. Use the drawdown chart below to compare losses from any high point for SEML.L and CHFUSD=X.

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Drawdown Indicators

SEML.LCHFUSD=XDifference

Max Drawdown

Largest peak-to-trough decline

-66.68%

-24.45%

-42.23%

Max Drawdown (1Y)

Largest decline over 1 year

-5.65%

-3.22%

-2.43%

Max Drawdown (3Y)

Largest decline over 3 years

-9.95%

-8.50%

-1.45%

Max Drawdown (5Y)

Largest decline over 5 years

-20.11%

-9.07%

-11.04%

Max Drawdown (10Y)

Largest decline over 10 years

-39.61%

-14.04%

-25.57%

Current Drawdown

Current decline from peak

-65.00%

-2.84%

-62.16%

Average Drawdown

Average peak-to-trough decline

-54.41%

-9.61%

-44.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.46%

1.69%

+0.77%

Volatility

SEML.L vs. CHFUSD=X - Volatility Comparison

iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) has a higher volatility of 1.79% compared to USD/CHF (CHFUSD=X) at 1.34%. This indicates that SEML.L's price experiences larger fluctuations and is considered to be riskier than CHFUSD=X based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SEML.LCHFUSD=XDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.79%

1.34%

+0.45%

Volatility (6M)

Calculated over the trailing 6-month period

5.19%

3.63%

+1.56%

Volatility (1Y)

Calculated over the trailing 1-year period

6.73%

5.03%

+1.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.32%

6.99%

+1.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

10.11%

8.31%

+1.80%

Frequently Asked Questions

SEML.L and CHFUSD=X have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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