SEML.L vs. EMLI.L
SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) and EMLI.L (PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist) are both Emerging Markets Bonds funds tracking the JPM GBI-EM Global Diversified TR USD, from iShares and PIMCO respectively. Both are passively managed. Over the past 10 years, SEML.L returned -2.50%/yr vs 4.00%/yr for EMLI.L. A 0.71 correlation means they provide meaningful diversification when combined. SEML.L charges 0.50%/yr vs 0.61%/yr for EMLI.L.
Performance
SEML.L vs. EMLI.L - Performance Comparison
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Different Trading Currencies
SEML.L is traded in GBP, while EMLI.L is traded in USD. To make them comparable, the EMLI.L 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 EMLI.L's 2.05% return. Over the past 10 years, SEML.L has underperformed EMLI.L with an annualized return of -2.50%, while EMLI.L has yielded a comparatively higher 4.00% 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%
EMLI.L
- 1D
- -0.27%
- 1M
- 0.51%
- YTD
- 2.05%
- 6M
- 0.93%
- 1Y
- 9.41%
- 3Y*
- 3.71%
- 5Y*
- 4.41%
- 10Y*
- 4.00%
SEML.L vs. EMLI.L - 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% |
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 2.05% | 8.31% | -1.55% | 8.00% | 5.61% | -4.62% | -1.08% | 8.74% | -1.37% | 2.85% |
Correlation
The correlation between SEML.L and EMLI.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 4, 2014 | 0.71 |
Over the past year, the correlation between SEML.L and EMLI.L has dropped to 0.51 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
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Return for Risk
SEML.L vs. EMLI.L — Risk / Return Rank
SEML.L
EMLI.L
SEML.L vs. EMLI.L - 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 PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.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.
| SEML.L | EMLI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.89 | ||
| Sortino ratioReturn per unit of downside risk | -1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.24 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 2.10 | -1.59 |
| Martin ratioReturn relative to average drawdown | 1.16 | 6.03 | -4.87 |
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 | EMLI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 1.32 | -0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | 0.43 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.36 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.35 | -0.65 |
Drawdowns
SEML.L vs. EMLI.L - Drawdown Comparison
The maximum SEML.L drawdown since its inception was -66.68%, which is greater than EMLI.L's maximum drawdown of -20.70%. Use the drawdown chart below to compare losses from any high point for SEML.L and EMLI.L.
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Drawdown Indicators
| SEML.L | EMLI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.68% | -20.70% | -45.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.65% | -4.47% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -4.66% | -5.29% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -12.78% | -7.33% |
Max Drawdown (10Y)Largest decline over 10 years | -39.61% | -20.70% | -18.91% |
Current DrawdownCurrent decline from peak | -65.00% | -2.34% | -62.66% |
Average DrawdownAverage peak-to-trough decline | -54.41% | -5.87% | -48.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 1.56% | +0.90% |
Volatility
SEML.L vs. EMLI.L - Volatility Comparison
The current volatility for iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) is 1.79%, while PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist (EMLI.L) has a volatility of 2.06%. This indicates that SEML.L experiences smaller price fluctuations and is considered to be less risky than EMLI.L 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 | EMLI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 2.06% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 5.19% | 5.98% | -0.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.73% | 7.12% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 10.22% | -1.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.11% | 11.02% | -0.91% |
SEML.L vs. EMLI.L - Expense Ratio Comparison
SEML.L has a 0.50% expense ratio, which is lower than EMLI.L's 0.61% expense ratio.
Dividends
SEML.L vs. EMLI.L - Dividend Comparison
SEML.L's dividend yield for the trailing twelve months is around 0.03%, less than EMLI.L's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLI.L PIMCO Emerging Markets Advantage Local Bond Index UCITS ETF Dist | 6.55% | 5.81% | 6.33% | 5.70% | 5.21% | 4.50% | 3.68% | 5.24% | 5.83% | 5.76% | 6.69% | 7.09% |
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 EMLI.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SEML.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SEML.L is cheaper with a 0.50% expense ratio, compared with 0.61% for EMLI.L.
Both ETFs track JPM GBI-EM Global Diversified TR USD. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.50% for SEML.L and 0.61% for EMLI.L.
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