UBXX.L vs. PEMD.L

Last updated Apr 2, 2026

Compare and contrast key facts about UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) and Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L).

UBXX.L and PEMD.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UBXX.L is a passively managed fund by UBS that tracks the performance of the J.P. Morgan EMBI Global Diversified 1-5 Year Index. It was launched on Nov 29, 2019. PEMD.L is a passively managed fund by Invesco that tracks the performance of the JPM EMBI Global Diversified TR USD. It was launched on Nov 16, 2017. Both UBXX.L and PEMD.L 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

UBXX.L vs. PEMD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) and Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L). The values are adjusted to include any dividend payments, if applicable.

UBXX.L vs. PEMD.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis	0.35%	9.71%	7.01%	7.14%	-11.07%	-0.10%	1.69%	5.94%	-1.40%
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist	0.31%	4.77%	8.05%	5.06%	-6.65%	-1.65%	2.16%	8.95%	6.20%

Different Trading Currencies

UBXX.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, UBXX.L achieves a 0.35% return, which is significantly higher than PEMD.L's 0.31% return.

UBXX.L

• 1D: 0.39%
• 1M: -1.03%
• YTD: 0.35%
• 6M: 2.58%
• 1Y: 7.29%
• 3Y*: 7.60%
• 5Y*: 2.31%
• 10Y*: —

PEMD.L

• 1D: 0.54%
• 1M: -1.19%
• YTD: 0.31%
• 6M: 3.83%
• 1Y: 5.86%
• 3Y*: 5.81%
• 5Y*: 3.24%
• 10Y*: —

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

UBXX.L vs. PEMD.L - Expense Ratio Comparison

UBXX.L has a 0.47% expense ratio, which is higher than PEMD.L's 0.25% expense ratio.

UBXX.L

UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis

PEMD.L

Invesco Emerging Markets USD Bond UCITS ETF Dist

Return for Risk

UBXX.L vs. PEMD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UBXX.L

UBXX.L Risk / Return Rank: 94
UBXX.L Sharpe Ratio Rank: 93
UBXX.L Sortino Ratio Rank: 96
UBXX.L Omega Ratio Rank: 96
UBXX.L Calmar Ratio Rank: 90
UBXX.L Martin Ratio Rank: 94

PEMD.L

PEMD.L Risk / Return Rank: 69
PEMD.L Sharpe Ratio Rank: 69
PEMD.L Sortino Ratio Rank: 72
PEMD.L Omega Ratio Rank: 66
PEMD.L Calmar Ratio Rank: 67
PEMD.L Martin Ratio Rank: 69

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.

UBXX.L vs. PEMD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.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.

	UBXX.L	PEMD.L	Difference
Sharpe ratio Return per unit of total volatility	2.33	0.71	+1.62
Sortino ratio Return per unit of downside risk	3.37	1.04	+2.33
Omega ratio Gain probability vs. loss probability	1.50	1.13	+0.37
Calmar ratio Return relative to maximum drawdown	3.35	1.44	+1.91
Martin ratio Return relative to average drawdown	15.97	3.74	+12.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UBXX.L vs. PEMD.L - Sharpe Ratio Comparison

The current UBXX.L Sharpe Ratio is 2.33, which is higher than the PEMD.L Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of UBXX.L and PEMD.L, 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

	UBXX.L	PEMD.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	0.71	+1.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.32	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.19	+0.24

Correlation

The correlation between UBXX.L and PEMD.L is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

UBXX.L vs. PEMD.L - Dividend Comparison

UBXX.L's dividend yield for the trailing twelve months is around 6.59%, more than PEMD.L's 5.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
UBXX.L UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis	6.59%	25.71%	7.05%	4.76%	4.40%	3.91%	4.43%	6.18%	0.21%
PEMD.L Invesco Emerging Markets USD Bond UCITS ETF Dist	5.61%	5.49%	5.83%	5.54%	4.94%	3.93%	3.60%	4.99%	5.36%

Drawdowns

UBXX.L vs. PEMD.L - Drawdown Comparison

The maximum UBXX.L drawdown since its inception was -16.83%, smaller than the maximum PEMD.L drawdown of -18.93%. Use the drawdown chart below to compare losses from any high point for UBXX.L and PEMD.L.

Drawdown Indicators

	UBXX.L	PEMD.L	Difference
Max Drawdown Largest peak-to-trough decline	-16.83%	-26.74%	+9.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-4.53%	+2.06%
Max Drawdown (5Y) Largest decline over 5 years	-16.83%	-26.64%	+9.81%
Current Drawdown Current decline from peak	-1.34%	-3.22%	+1.88%
Average Drawdown Average peak-to-trough decline	-3.79%	-6.59%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	1.07%	-0.61%

Volatility

UBXX.L vs. PEMD.L - Volatility Comparison

The current volatility for UBS J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF hGBP dis (UBXX.L) is 1.44%, while Invesco Emerging Markets USD Bond UCITS ETF Dist (PEMD.L) has a volatility of 3.10%. This indicates that UBXX.L experiences smaller price fluctuations and is considered to be less risky than PEMD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UBXX.L	PEMD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	3.10%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	2.30%	5.49%	-3.19%
Volatility (1Y) Calculated over the trailing 1-year period	3.12%	8.23%	-5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.24%	9.98%	-5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	12.38%	-7.39%