VEMA.L vs. EMIG.L

Last updated Jun 5, 2026

VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) and EMIG.L (UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc) are both Emerging Markets Bonds funds tracking the JPM EMBI Global Diversified TR USD, from Vanguard and UBS respectively. Both are passively managed. Over the past 5 years, VEMA.L returned 3.45%/yr vs 0.89%/yr for EMIG.L. Their correlation of 0.89 suggests significant overlap in exposure. VEMA.L charges 0.25%/yr vs 0.45%/yr for EMIG.L.

Performance

VEMA.L vs. EMIG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEMA.L is traded in GBP, while EMIG.L is traded in GBp. To make them comparable, the EMIG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, VEMA.L achieves a 1.66% return, which is significantly higher than EMIG.L's 0.13% return.

VEMA.L

• 1D: 0.22%
• 1M: 1.94%
• YTD: 1.66%
• 6M: 1.43%
• 1Y: 10.75%
• 3Y*: 6.06%
• 5Y*: 3.45%
• 10Y*: —

EMIG.L

• 1D: -0.09%
• 1M: 1.05%
• YTD: 0.13%
• 6M: -0.29%
• 1Y: 7.08%
• 3Y*: 2.15%
• 5Y*: 0.89%
• 10Y*: —

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

VEMA.L vs. EMIG.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating	1.66%	4.15%	8.11%	3.45%	-5.29%	-0.35%	2.49%	-6.75%
EMIG.L UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc	0.13%	1.96%	3.34%	0.56%	-7.44%	-0.84%	5.09%	-5.65%

Correlation

The correlation between VEMA.L and EMIG.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 9, 2019	0.89

The correlation between VEMA.L and EMIG.L has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

VEMA.L vs. EMIG.L — Risk / Return Rank

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

VEMA.L

VEMA.L Risk / Return Rank: 52
VEMA.L Sharpe Ratio Rank: 55
VEMA.L Sortino Ratio Rank: 59
VEMA.L Omega Ratio Rank: 54
VEMA.L Calmar Ratio Rank: 50
VEMA.L Martin Ratio Rank: 43

EMIG.L

EMIG.L Risk / Return Rank: 31
EMIG.L Sharpe Ratio Rank: 35
EMIG.L Sortino Ratio Rank: 36
EMIG.L Omega Ratio Rank: 32
EMIG.L Calmar Ratio Rank: 29
EMIG.L Martin Ratio Rank: 25

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.

VEMA.L vs. EMIG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.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.

	VEMA.L	EMIG.L	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.22	+0.61
Sortino ratio: Return per unit of downside risk	2.76	1.83	+0.94
Omega ratio: Gain probability vs. loss probability	1.33	1.21	+0.11
Calmar ratio: Return relative to maximum drawdown	2.44	1.40	+1.04
Martin ratio: Return relative to average drawdown	6.67	3.30	+3.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VEMA.L vs. EMIG.L - Sharpe Ratio Comparison

The current VEMA.L Sharpe Ratio is 1.83, which is higher than the EMIG.L Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of VEMA.L and EMIG.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VEMA.L	EMIG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	1.22	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.11	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	-0.05	+0.37

Drawdowns

VEMA.L vs. EMIG.L - Drawdown Comparison

The maximum VEMA.L drawdown since its inception was -14.59%, smaller than the maximum EMIG.L drawdown of -17.02%. Use the drawdown chart below to compare losses from any high point for VEMA.L and EMIG.L.

Drawdown Indicators

	VEMA.L	EMIG.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.59%	-17.02%	+2.43%
Max Drawdown (1Y) Largest decline over 1 year	-4.39%	-5.03%	+0.64%
Max Drawdown (3Y) Largest decline over 3 years	-8.38%	-8.09%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-11.41%	-14.52%	+3.11%
Current Drawdown Current decline from peak	-0.45%	-7.24%	+6.79%
Average Drawdown Average peak-to-trough decline	-6.28%	-9.25%	+2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	2.14%	-0.53%

Volatility

VEMA.L vs. EMIG.L - Volatility Comparison

Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) and UBS ETF (LU) J.P. Morgan USD EM IG ESG Diversified Bond UCITS ETF (USD) A-acc (EMIG.L) have volatilities of 1.47% and 1.49%, 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.

Volatility by Period

	VEMA.L	EMIG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.49%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	4.07%	4.31%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.85%	5.82%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	8.28%	-0.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.49%	9.47%	+0.02%

VEMA.L vs. EMIG.L - Expense Ratio Comparison

VEMA.L has a 0.25% expense ratio, which is lower than EMIG.L's 0.45% expense ratio.

Dividends

VEMA.L vs. EMIG.L - Dividend Comparison

Neither VEMA.L nor EMIG.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both VEMA.L and EMIG.L in my portfolio?

With a correlation of 0.91, VEMA.L and EMIG.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, VEMA.L or EMIG.L?

On fees, VEMA.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEMA.L or EMIG.L?

VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.45% for EMIG.L.

What is the main difference between VEMA.L and EMIG.L?

Both ETFs track JPM EMBI Global Diversified TR USD. They also come from different issuers: Vanguard and UBS. Their fees differ too: 0.25% for VEMA.L and 0.45% for EMIG.L.