SEML.L vs. IUSE.L
SEML.L (iShares J.P. Morgan EM Local Government Bond UCITS ETF) and IUSE.L (iShares S&P 500 EUR Hedged UCITS ETF Acc) are both exchange-traded funds - SEML.L is a Emerging Markets Bonds fund tracking the JPM GBI-EM Global Diversified TR USD, while IUSE.L is a S&P 500 fund tracking the S&P 500 EUR Hedged Index. Both are passively managed. Over the past 10 years, SEML.L returned -2.50%/yr vs 13.58%/yr for IUSE.L. At a 0.38 correlation, their price movements are largely independent. SEML.L charges 0.50%/yr vs 0.20%/yr for IUSE.L.
Performance
SEML.L vs. IUSE.L - Performance Comparison
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Different Trading Currencies
SEML.L is traded in GBP, while IUSE.L is traded in EUR. To make them comparable, the IUSE.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 IUSE.L's 8.30% return. Over the past 10 years, SEML.L has underperformed IUSE.L with an annualized return of -2.50%, while IUSE.L has yielded a comparatively higher 13.58% 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%
IUSE.L
- 1D
- 0.13%
- 1M
- 4.62%
- YTD
- 8.30%
- 6M
- 8.64%
- 1Y
- 28.00%
- 3Y*
- 19.65%
- 5Y*
- 11.26%
- 10Y*
- 13.58%
SEML.L vs. IUSE.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% |
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 8.25% | 21.10% | 17.60% | 20.60% | -17.10% | 20.27% | 21.31% | 19.17% | -7.49% | 24.12% |
Correlation
The correlation between SEML.L and IUSE.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011 | 0.38 |
The correlation between SEML.L and IUSE.L shifts across timeframes, from 0.17 (5 years) to 0.38 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SEML.L vs. IUSE.L — Risk / Return Rank
SEML.L
IUSE.L
SEML.L vs. IUSE.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 iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.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 | IUSE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.43 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | 3.12 | -2.62 |
| Martin ratioReturn relative to average drawdown | 1.16 | 12.61 | -11.44 |
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 | IUSE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.41 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.40 | 0.70 | -1.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.25 | 0.82 | -1.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.30 | 0.75 | -1.05 |
Drawdowns
SEML.L vs. IUSE.L - Drawdown Comparison
The maximum SEML.L drawdown since its inception was -66.68%, which is greater than IUSE.L's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for SEML.L and IUSE.L.
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Drawdown Indicators
| SEML.L | IUSE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.68% | -27.56% | -39.12% |
Max Drawdown (1Y)Largest decline over 1 year | -5.65% | -8.92% | +3.27% |
Max Drawdown (3Y)Largest decline over 3 years | -9.95% | -17.08% | +7.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.11% | -23.84% | +3.73% |
Max Drawdown (10Y)Largest decline over 10 years | -39.61% | -27.56% | -12.05% |
Current DrawdownCurrent decline from peak | -65.00% | -0.37% | -64.63% |
Average DrawdownAverage peak-to-trough decline | -54.41% | -5.11% | -49.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.22% | +0.24% |
Volatility
SEML.L vs. IUSE.L - Volatility Comparison
The current volatility for iShares J.P. Morgan EM Local Government Bond UCITS ETF (SEML.L) is 1.79%, while iShares S&P 500 EUR Hedged UCITS ETF Acc (IUSE.L) has a volatility of 3.55%. This indicates that SEML.L experiences smaller price fluctuations and is considered to be less risky than IUSE.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 | IUSE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.79% | 3.55% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 5.19% | 8.55% | -3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.73% | 11.59% | -4.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.32% | 15.96% | -7.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.11% | 16.56% | -6.45% |
SEML.L vs. IUSE.L - Expense Ratio Comparison
SEML.L has a 0.50% expense ratio, which is higher than IUSE.L's 0.20% expense ratio.
Dividends
SEML.L vs. IUSE.L - Dividend Comparison
SEML.L's dividend yield for the trailing twelve months is around 0.03%, while IUSE.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IUSE.L iShares S&P 500 EUR Hedged UCITS ETF Acc | 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 IUSE.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IUSE.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUSE.L is cheaper with a 0.20% expense ratio, compared with 0.50% for SEML.L.
SEML.L is categorized as Emerging Markets Bonds, while IUSE.L is S&P 500. SEML.L tracks JPM GBI-EM Global Diversified TR USD, while IUSE.L tracks S&P 500 EUR Hedged Index. Their fees differ too: 0.50% for SEML.L and 0.20% for IUSE.L.
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