TLH vs. LEML.L
TLH (iShares 10-20 Year Treasury Bond ETF) and LEML.L (Lyxor MSCI Emerging Markets UCITS ETF - Acc USD) are both exchange-traded funds - TLH is a Government Bonds fund tracking the ICE U.S. Treasury 10-20 Year Bond Index, while LEML.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, TLH returned -0.87%/yr vs 9.14%/yr for LEML.L. At a correlation of -0.11, they often move in opposite directions. TLH charges 0.15%/yr vs 0.55%/yr for LEML.L.
Performance
TLH vs. LEML.L - Performance Comparison
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Different Trading Currencies
TLH is traded in USD, while LEML.L is traded in GBp. To make them comparable, the LEML.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, TLH achieves a -0.95% return, which is significantly lower than LEML.L's 20.07% return. Over the past 10 years, TLH has underperformed LEML.L with an annualized return of -0.87%, while LEML.L has yielded a comparatively higher 9.14% annualized return.
TLH
- 1D
- -0.62%
- 1M
- -1.02%
- YTD
- -0.95%
- 6M
- -1.04%
- 1Y
- 3.54%
- 3Y*
- 0.36%
- 5Y*
- -3.89%
- 10Y*
- -0.87%
LEML.L
- 1D
- -4.36%
- 1M
- -2.14%
- YTD
- 20.07%
- 6M
- 21.92%
- 1Y
- 43.96%
- 3Y*
- 21.39%
- 5Y*
- 6.04%
- 10Y*
- 9.14%
TLH vs. LEML.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLH iShares 10-20 Year Treasury Bond ETF | -0.95% | 6.47% | -4.21% | 4.03% | -25.24% | -5.38% | 13.78% | 10.11% | 0.37% | 4.21% |
LEML.L Lyxor MSCI Emerging Markets UCITS ETF - Acc USD | 20.07% | 34.01% | 6.90% | 8.09% | -20.23% | -2.81% | 17.05% | 17.56% | -15.07% | 36.46% |
Correlation
The correlation between TLH and LEML.L is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2008 | -0.11 |
The correlation between TLH and LEML.L shifts across timeframes, from -0.11 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TLH vs. LEML.L — Risk / Return Rank
TLH
LEML.L
TLH vs. LEML.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 10-20 Year Treasury Bond ETF (TLH) and Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.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.
| TLH | LEML.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.31 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.41 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 3.33 | -2.79 |
| Martin ratioReturn relative to average drawdown | 1.50 | 12.23 | -10.74 |
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
| TLH | LEML.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.45 | 2.27 | -1.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.31 | 0.32 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.08 | 0.47 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.27 | 0.02 | +0.25 |
Drawdowns
TLH vs. LEML.L - Drawdown Comparison
The maximum TLH drawdown since its inception was -41.14%, smaller than the maximum LEML.L drawdown of -72.07%. Use the drawdown chart below to compare losses from any high point for TLH and LEML.L.
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Drawdown Indicators
| TLH | LEML.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.14% | -72.07% | +30.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.50% | -13.12% | +6.62% |
Max Drawdown (3Y)Largest decline over 3 years | -15.35% | -16.83% | +1.48% |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | -37.25% | +1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -41.14% | -40.14% | -1.00% |
Current DrawdownCurrent decline from peak | -30.13% | -7.05% | -23.08% |
Average DrawdownAverage peak-to-trough decline | -10.76% | -20.11% | +9.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 3.58% | -1.21% |
Volatility
TLH vs. LEML.L - Volatility Comparison
The current volatility for iShares 10-20 Year Treasury Bond ETF (TLH) is 2.37%, while Lyxor MSCI Emerging Markets UCITS ETF - Acc USD (LEML.L) has a volatility of 8.93%. This indicates that TLH experiences smaller price fluctuations and is considered to be less risky than LEML.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLH | LEML.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 8.93% | -6.56% |
Volatility (6M)Calculated over the trailing 6-month period | 5.52% | 16.79% | -11.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.92% | 19.33% | -11.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 18.72% | -6.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.19% | 19.44% | -8.25% |
TLH vs. LEML.L - Expense Ratio Comparison
TLH has a 0.15% expense ratio, which is lower than LEML.L's 0.55% expense ratio.
Dividends
TLH vs. LEML.L - Dividend Comparison
TLH's dividend yield for the trailing twelve months is around 4.50%, while LEML.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LEML.L Lyxor MSCI Emerging Markets UCITS ETF - Acc USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLH iShares 10-20 Year Treasury Bond ETF | 4.50% | 4.17% | 4.28% | 3.83% | 2.78% | 1.50% | 2.65% | 2.31% | 2.17% | 1.83% | 1.91% | 2.13% |
Frequently Asked Questions
TLH and LEML.L have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, TLH is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
TLH is cheaper with a 0.15% expense ratio, compared with 0.55% for LEML.L.
TLH is categorized as Government Bonds, while LEML.L is Emerging Markets Equities. TLH tracks ICE U.S. Treasury 10-20 Year Bond Index, while LEML.L tracks MSCI EM NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.15% for TLH and 0.55% for LEML.L.
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