SGEA.L vs. PEMD.L
SGEA.L (iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist)) and PEMD.L (Invesco Emerging Markets USD Bond UCITS ETF Dist) are both Emerging Markets Bonds funds - SGEA.L tracks the Bloomberg Emerging Markets Asia Local Currency Government Country Capped Index while PEMD.L tracks the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, SGEA.L returned -0.08%/yr vs 2.51%/yr for PEMD.L. A 0.50 correlation means they provide meaningful diversification when combined. SGEA.L charges 0.50%/yr vs 0.25%/yr for PEMD.L.
Performance
SGEA.L vs. PEMD.L - Performance Comparison
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Different Trading Currencies
SGEA.L is traded in GBP, while PEMD.L is traded in USD. To make them comparable, the PEMD.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, SGEA.L achieves a -5.97% return, which is significantly lower than PEMD.L's 1.67% return.
SGEA.L
- 1D
- 0.43%
- 1M
- -1.31%
- 6M
- -2.76%
- YTD
- -5.97%
- 1Y
- -6.24%
- 3Y*
- -0.41%
- 5Y*
- -0.08%
- 10Y*
- 0.83%
- ALL TIME*
- -0.71%
PEMD.L
- 1D
- 0.34%
- 1M
- -2.07%
- 6M
- 2.04%
- YTD
- 1.67%
- 1Y
- 8.53%
- 3Y*
- 6.83%
- 5Y*
- 2.51%
- 10Y*
- —
- ALL TIME*
- 2.53%
SGEA.L vs. PEMD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | -5.97% | -1.01% | 3.19% | -0.97% | 3.25% | -3.19% | 5.39% | 5.58% | 3.87% | 0.27% |
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 1.67% | 4.77% | 8.03% | 5.04% | -6.62% | -1.65% | 2.14% | 8.98% | 1.12% | -0.57% |
Correlation
The correlation between SGEA.L and PEMD.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Nov 17, 2017 | 0.50 |
The correlation between SGEA.L and PEMD.L shifts across timeframes, from 0.41 (5 years) to 0.52 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SGEA.L vs. PEMD.L — Risk / Return Rank
SGEA.L
PEMD.L
SGEA.L vs. PEMD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (SGEA.L) and Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SGEA.L | PEMD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -3.06 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.20 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 1.87 | -2.59 |
| Martin ratioReturn relative to average drawdown | -1.30 | 5.20 | -6.49 |
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Drawdowns
SGEA.L vs. PEMD.L - Drawdown Comparison
The maximum SGEA.L drawdown since its inception was -40.80%, which is greater than PEMD.L's maximum drawdown of -18.92%. Use the drawdown chart below to compare losses from any high point for SGEA.L and PEMD.L.
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Drawdown Indicators
| SGEA.L | PEMD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.80% | -18.92% | -21.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -4.57% | -4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -10.30% | -8.98% | -1.32% |
Max Drawdown (5Y)Largest decline over 5 years | -10.30% | -13.78% | +3.48% |
Max Drawdown (10Y)Largest decline over 10 years | -12.02% | — | — |
Current DrawdownCurrent decline from peak | -9.69% | -2.73% | -6.96% |
Average DrawdownAverage peak-to-trough decline | -17.31% | -7.44% | -9.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 1.64% | +3.33% |
Volatility
SGEA.L vs. PEMD.L - Volatility Comparison
iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) (SGEA.L) and Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) have volatilities of 1.81% and 1.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SGEA.L | PEMD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 1.86% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.81% | -1.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.13% | 7.44% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.97% | 9.96% | -2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.02% | 12.23% | -4.21% |
SGEA.L vs. PEMD.L - Expense Ratio Comparison
SGEA.L has a 0.50% expense ratio, which is higher than PEMD.L's 0.25% expense ratio.
Dividends
SGEA.L vs. PEMD.L - Dividend Comparison
SGEA.L's dividend yield for the trailing twelve months is around 1.76%, less than PEMD.L's 5.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist | 5.52% | 5.49% | 5.83% | 5.54% | 4.94% | 3.93% | 3.60% | 4.99% | 5.36% | 0.00% | 0.00% | 0.00% |
SGEA.L iShares Emerging Asia Local Govt Bond UCITS ETF USD (Dist) | 1.76% | 3.40% | 3.00% | 2.90% | 2.81% | 2.37% | 2.97% | 2.55% | 2.46% | 2.17% | 2.65% | 1.11% |
Frequently Asked Questions
SGEA.L and PEMD.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PEMD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PEMD.L is cheaper with a 0.25% expense ratio, compared with 0.50% for SGEA.L.
SGEA.L tracks Bloomberg Emerging Markets Asia Local Currency Government Country Capped Index, while PEMD.L tracks JPM EMBI Global Diversified TR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.50% for SGEA.L and 0.25% for PEMD.L.
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