SEML.L vs. EMLC

Last updated Apr 2, 2026

Compare and contrast key facts about iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) and VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC).

SEML.L and EMLC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SEML.L is a passively managed fund by iShares that tracks the performance of the JPM GBI-EM Global Diversified TR USD. It was launched on Jun 20, 2011. EMLC is a passively managed fund by VanEck that tracks the performance of the J.P. Morgan Government Bond Index Emerging Markets Global Core Index. It was launched on Jul 22, 2010. Both SEML.L and EMLC 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

SEML.L vs. EMLC - 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 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). The values are adjusted to include any dividend payments, if applicable.

SEML.L vs. EMLC - 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	-2.90%	4.32%	-6.40%	0.23%	-5.32%	-13.17%	-6.26%	2.59%	-6.78%	-1.81%
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	0.33%	10.35%	-1.27%	5.62%	0.05%	-8.86%	0.05%	5.61%	-2.09%	4.00%

Different Trading Currencies

SEML.L is traded in GBP, while EMLC is traded in USD. To make them comparable, the EMLC 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 -2.90% return, which is significantly lower than EMLC's 0.33% return. Over the past 10 years, SEML.L has underperformed EMLC with an annualized return of -2.71%, while EMLC has yielded a comparatively higher 2.60% annualized return.

SEML.L

• 1D: 0.29%
• 1M: -2.30%
• YTD: -2.90%
• 6M: 0.20%
• 1Y: 3.40%
• 3Y*: -1.49%
• 5Y*: -2.80%
• 10Y*: -2.71%

EMLC

• 1D: 0.33%
• 1M: -2.42%
• YTD: 0.33%
• 6M: 3.49%
• 1Y: 9.60%
• 3Y*: 3.83%
• 5Y*: 2.70%
• 10Y*: 2.60%

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

SEML.L vs. EMLC - Expense Ratio Comparison

SEML.L has a 0.50% expense ratio, which is higher than EMLC's 0.30% expense ratio.

SEML.L

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

EMLC

VanEck Vectors J.P. Morgan EM Local Currency Bond ETF

Return for Risk

SEML.L vs. EMLC — 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: 25
SEML.L Sharpe Ratio Rank: 26
SEML.L Sortino Ratio Rank: 22
SEML.L Omega Ratio Rank: 24
SEML.L Calmar Ratio Rank: 28
SEML.L Martin Ratio Rank: 26

EMLC

EMLC Risk / Return Rank: 81
EMLC Sharpe Ratio Rank: 85
EMLC Sortino Ratio Rank: 86
EMLC Omega Ratio Rank: 85
EMLC Calmar Ratio Rank: 74
EMLC Martin Ratio Rank: 77

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. EMLC - 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 VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC). 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	EMLC	Difference
Sharpe ratio Return per unit of total volatility	0.50	1.72	-1.22
Sortino ratio Return per unit of downside risk	0.68	2.46	-1.78
Omega ratio Gain probability vs. loss probability	1.10	1.33	-0.23
Calmar ratio Return relative to maximum drawdown	0.75	1.97	-1.22
Martin ratio Return relative to average drawdown	2.21	8.06	-5.84
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. EMLC - Sharpe Ratio Comparison

The current SEML.L Sharpe Ratio is 0.50, which is lower than the EMLC Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of SEML.L and EMLC, 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

	SEML.L	EMLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	1.72	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	0.36	-0.69
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.27	0.26	-0.52
Sharpe Ratio (All Time) Calculated using the full available price history	-0.30	0.20	-0.49

Correlation

The correlation between SEML.L and EMLC is 0.72, 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

SEML.L vs. EMLC - Dividend Comparison

SEML.L's dividend yield for the trailing twelve months is around 0.03%, less than EMLC's 6.16% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
EMLC VanEck Vectors J.P. Morgan EM Local Currency Bond ETF	6.16%	5.91%	6.55%	5.97%	5.54%	5.25%	4.90%	6.25%	6.50%	5.34%	5.32%	6.25%

Drawdowns

SEML.L vs. EMLC - Drawdown Comparison

The maximum SEML.L drawdown since its inception was -66.68%, which is greater than EMLC's maximum drawdown of -30.23%. Use the drawdown chart below to compare losses from any high point for SEML.L and EMLC.

Drawdown Indicators

	SEML.L	EMLC	Difference
Max Drawdown Largest peak-to-trough decline	-66.68%	-32.43%	-34.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.20%	-6.19%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-20.11%	-25.26%	+5.15%
Max Drawdown (10Y) Largest decline over 10 years	-39.61%	-26.47%	-13.14%
Current Drawdown Current decline from peak	-64.96%	-6.39%	-58.57%
Average Drawdown Average peak-to-trough decline	-54.29%	-14.47%	-39.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	1.44%	+0.32%

Volatility

SEML.L vs. EMLC - Volatility Comparison

iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) has a higher volatility of 2.96% compared to VanEck Vectors J.P. Morgan EM Local Currency Bond ETF (EMLC) at 2.70%. This indicates that SEML.L's price experiences larger fluctuations and is considered to be riskier than EMLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEML.L	EMLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.96%	2.70%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	5.01%	4.42%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	6.80%	5.61%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.36%	7.62%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.17%	10.04%	+0.13%