SEML.L vs. DBZB.DE
SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) and DBZB.DE (Xtrackers II Global Government Bond UCITS ETF EUR Hedged) are both exchange-traded funds - SEML.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while DBZB.DE is a Global Bonds fund tracking the FTSE World Government Bond - Developed Markets (EUR Hedged). Both are passively managed. Over the past 10 years, SEML.L returned -2.50%/yr vs -0.03%/yr for DBZB.DE. At a 0.36 correlation, their price movements are largely independent. SEML.L charges 0.50%/yr vs 0.25%/yr for DBZB.DE.
Performance
SEML.L vs. DBZB.DE - Performance Comparison
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Different Trading Currencies
SEML.L is traded in GBP, while DBZB.DE is traded in EUR. To make them comparable, the DBZB.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 DBZB.DE's -1.49% return. Over the past 10 years, SEML.L has underperformed DBZB.DE with an annualized return of -2.50%, while DBZB.DE has yielded a comparatively higher -0.03% annualized return.
SEML.L
- 1D
- 0.15%
- 1M
- 1.66%
- YTD
- -3.02%
- 6M
- -2.77%
- 1Y
- 2.87%
- 3Y*
- -1.63%
- 5Y*
- -3.37%
- 10Y*
- -2.50%
DBZB.DE
- 1D
- 0.28%
- 1M
- 0.51%
- YTD
- -1.49%
- 6M
- -2.11%
- 1Y
- 2.65%
- 3Y*
- 0.91%
- 5Y*
- -2.40%
- 10Y*
- -0.03%
SEML.L vs. DBZB.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% |
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | -1.49% | 6.55% | -4.75% | 1.49% | -10.46% | -10.02% | 10.04% | -0.89% | 1.05% | 4.15% |
Correlation
The correlation between SEML.L and DBZB.DE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.40 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011 | 0.36 |
The correlation between SEML.L and DBZB.DE shifts across timeframes, from 0.31 (1 year) to 0.42 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
SEML.L vs. DBZB.DE — Risk / Return Rank
SEML.L
DBZB.DE
SEML.L vs. DBZB.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 Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.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 | DBZB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.09 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 0.57 | -0.06 |
| Martin ratioReturn relative to average drawdown | 1.16 | 1.34 | -0.18 |
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 | DBZB.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 0.48 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | -0.33 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | -0.00 | -0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.10 | -0.39 |
Drawdowns
SEML.L vs. DBZB.DE - Drawdown Comparison
The maximum SEML.L drawdown since its inception was -66.68%, which is greater than DBZB.DE's maximum drawdown of -25.37%. Use the drawdown chart below to compare losses from any high point for SEML.L and DBZB.DE.
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Drawdown Indicators
| SEML.L | DBZB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.68% | -25.37% | -41.31% |
Max Drawdown (1Y)Largest decline over 1 year | -5.65% | -4.67% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -5.93% | -4.02% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -18.83% | -1.28% |
Max Drawdown (10Y)Largest decline over 10 years | -39.61% | -25.37% | -14.24% |
Current DrawdownCurrent decline from peak | -65.00% | -20.39% | -44.61% |
Average DrawdownAverage peak-to-trough decline | -54.41% | -9.72% | -44.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.97% | +0.49% |
Volatility
SEML.L vs. DBZB.DE - Volatility Comparison
iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) has a higher volatility of 1.79% compared to Xtrackers II Global Government Bond UCITS ETF EUR Hedged (DBZB.DE) at 1.67%. This indicates that SEML.L's price experiences larger fluctuations and is considered to be riskier than DBZB.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 | DBZB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 1.67% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 5.19% | 3.84% | +1.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.73% | 5.48% | +1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 7.21% | +1.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.11% | 8.55% | +1.56% |
SEML.L vs. DBZB.DE - Expense Ratio Comparison
SEML.L has a 0.50% expense ratio, which is higher than DBZB.DE's 0.25% expense ratio.
Dividends
SEML.L vs. DBZB.DE - Dividend Comparison
SEML.L's dividend yield for the trailing twelve months is around 0.03%, while DBZB.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBZB.DE Xtrackers II Global Government Bond UCITS ETF EUR Hedged | 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 DBZB.DE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DBZB.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DBZB.DE is cheaper with a 0.25% expense ratio, compared with 0.50% for SEML.L.
SEML.L is categorized as Emerging Markets Bonds, while DBZB.DE is Global Bonds. SEML.L tracks JPM GBI-EM Global Diversified TR USD, while DBZB.DE tracks FTSE World Government Bond - Developed Markets (EUR Hedged). They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.50% for SEML.L and 0.25% for DBZB.DE.
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