VDEA.L vs. EMCA.L
VDEA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - VDEA.L tracks the Bloomberg EM USD Sovereign + Quasi-Sov Index while EMCA.L tracks the J.P. Morgan CEMBI Broad Diversified Core Index. Both are passively managed. Over the past 5 years, VDEA.L returned 2.17%/yr vs 1.91%/yr for EMCA.L. A 0.61 correlation means they provide meaningful diversification when combined. VDEA.L charges 0.23%/yr vs 0.50%/yr for EMCA.L.
Performance
VDEA.L vs. EMCA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VDEA.L achieves a 1.42% return, which is significantly lower than EMCA.L's 1.55% return.
VDEA.L
- 1D
- -0.03%
- 1M
- -0.51%
- 6M
- 1.64%
- YTD
- 1.42%
- 1Y
- 8.51%
- 3Y*
- 8.05%
- 5Y*
- 2.17%
- 10Y*
- —
EMCA.L
- 1D
- -0.09%
- 1M
- -0.38%
- 6M
- 1.25%
- YTD
- 1.55%
- 1Y
- 5.99%
- 3Y*
- 6.97%
- 5Y*
- 1.91%
- 10Y*
- —
VDEA.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VDEA.L Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation | 1.42% | 11.45% | 6.35% | 9.71% | -15.28% | -1.74% | 6.10% | 9.44% |
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 1.55% | 8.60% | 6.21% | 7.96% | -12.09% | -0.51% | 7.04% | 9.62% |
Correlation
The correlation between VDEA.L and EMCA.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2019 | 0.61 |
The correlation between VDEA.L and EMCA.L shifts across timeframes, from 0.48 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VDEA.L vs. EMCA.L — Risk / Return Rank
VDEA.L
EMCA.L
VDEA.L vs. EMCA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.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.
| VDEA.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.29 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.31 | 2.63 | -0.31 |
| Martin ratioReturn relative to average drawdown | 9.11 | 10.19 | -1.08 |
Loading charts...
Drawdowns
VDEA.L vs. EMCA.L - Drawdown Comparison
The maximum VDEA.L drawdown since its inception was -24.08%, roughly equal to the maximum EMCA.L drawdown of -24.69%. Use the drawdown chart below to compare losses from any high point for VDEA.L and EMCA.L.
Loading charts...
Drawdown Indicators
| VDEA.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.08% | -24.69% | +0.61% |
Max Drawdown (1Y)Largest decline over 1 year | -3.66% | -2.21% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -6.15% | -3.58% | -2.57% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -20.14% | -3.94% |
Current DrawdownCurrent decline from peak | -0.78% | -0.53% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -4.05% | -1.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 0.57% | +0.36% |
Volatility
VDEA.L vs. EMCA.L - Volatility Comparison
Vanguard USD Emerging Markets Government Bond UCITS ETF USD Accumulation (VDEA.L) and iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) have volatilities of 1.03% and 1.06%, 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.
Loading charts...
Volatility by Period
| VDEA.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.06% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.12% | 3.26% | +0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.01% | 3.82% | +1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.27% | 5.25% | +2.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.20% | 8.79% | -0.59% |
VDEA.L vs. EMCA.L - Expense Ratio Comparison
VDEA.L has a 0.23% expense ratio, which is lower than EMCA.L's 0.50% expense ratio.
Dividends
VDEA.L vs. EMCA.L - Dividend Comparison
Neither VDEA.L nor EMCA.L has paid dividends to shareholders.
Frequently Asked Questions
VDEA.L and EMCA.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDEA.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDEA.L is cheaper with a 0.23% expense ratio, compared with 0.50% for EMCA.L.
VDEA.L tracks Bloomberg EM USD Sovereign + Quasi-Sov Index, while EMCA.L tracks J.P. Morgan CEMBI Broad Diversified Core Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.23% for VDEA.L and 0.50% for EMCA.L.
Find the right allocation for VDEA.L and EMCA.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer