VDET.L vs. EMCA.L
VDET.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and EMCA.L (iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc)) are both Emerging Markets Bonds funds - VDET.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, VDET.L returned 2.19%/yr vs 1.91%/yr for EMCA.L. A 0.59 correlation means they provide meaningful diversification when combined. VDET.L charges 0.23%/yr vs 0.50%/yr for EMCA.L.
Performance
VDET.L vs. EMCA.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VDET.L having a 1.56% return and EMCA.L slightly lower at 1.55%.
VDET.L
- 1D
- 0.18%
- 1M
- -0.45%
- 6M
- 1.90%
- YTD
- 1.56%
- 1Y
- 8.62%
- 3Y*
- 8.09%
- 5Y*
- 2.19%
- 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*
- —
VDET.L vs. EMCA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.56% | 11.70% | 6.40% | 9.42% | -15.28% | -1.76% | 6.08% | 13.12% | 0.54% |
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% | 13.77% | 0.89% |
Correlation
The correlation between VDET.L and EMCA.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since May 31, 2018 | 0.59 |
The correlation between VDET.L and EMCA.L shifts across timeframes, from 0.50 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VDET.L vs. EMCA.L — Risk / Return Rank
VDET.L
EMCA.L
VDET.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 Distributing (VDET.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.
| VDET.L | EMCA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.29 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 2.63 | -0.21 |
| Martin ratioReturn relative to average drawdown | 9.78 | 10.19 | -0.41 |
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Drawdowns
VDET.L vs. EMCA.L - Drawdown Comparison
The maximum VDET.L drawdown since its inception was -24.10%, roughly equal to the maximum EMCA.L drawdown of -24.69%. Use the drawdown chart below to compare losses from any high point for VDET.L and EMCA.L.
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Drawdown Indicators
| VDET.L | EMCA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.10% | -24.69% | +0.59% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -2.21% | -1.34% |
Max Drawdown (3Y)Largest decline over 3 years | -6.04% | -3.58% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -24.10% | -20.14% | -3.96% |
Current DrawdownCurrent decline from peak | -0.45% | -0.53% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -4.89% | -4.05% | -0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 0.57% | +0.31% |
Volatility
VDET.L vs. EMCA.L - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VDET.L) is 0.79%, while iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) (EMCA.L) has a volatility of 1.06%. This indicates that VDET.L experiences smaller price fluctuations and is considered to be less risky than EMCA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VDET.L | EMCA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 1.06% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 3.26% | +0.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.73% | 3.82% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.18% | 5.25% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.66% | 8.79% | -1.13% |
VDET.L vs. EMCA.L - Expense Ratio Comparison
VDET.L has a 0.23% expense ratio, which is lower than EMCA.L's 0.50% expense ratio.
Dividends
VDET.L vs. EMCA.L - Dividend Comparison
VDET.L's dividend yield for the trailing twelve months is around 5.90%, while EMCA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMCA.L iShares J.P. Morgan $ EM Corp Bond UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VDET.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.90% | 6.03% | 5.84% | 5.44% | 5.01% | 3.89% | 4.19% | 4.32% | 4.61% | 4.59% |
Frequently Asked Questions
VDET.L and EMCA.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VDET.L is cheaper at 0.23% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VDET.L is cheaper with a 0.23% expense ratio, compared with 0.50% for EMCA.L.
VDET.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 VDET.L and 0.50% for EMCA.L.
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