VEMA.L vs. SEMC.L
VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) and SEMC.L (UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis) 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 4.04%/yr for SEMC.L. Their correlation of 0.83 suggests significant overlap in exposure. VEMA.L charges 0.25%/yr vs 0.42%/yr for SEMC.L.
Performance
VEMA.L vs. SEMC.L - Performance Comparison
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Different Trading Currencies
VEMA.L is traded in GBP, while SEMC.L is traded in GBp. To make them comparable, the SEMC.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 lower than SEMC.L's 2.30% 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*
- —
SEMC.L
- 1D
- 0.03%
- 1M
- 1.31%
- YTD
- 2.30%
- 6M
- 2.17%
- 1Y
- 9.29%
- 3Y*
- 5.66%
- 5Y*
- 4.04%
- 10Y*
- —
VEMA.L vs. SEMC.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% | 8.03% |
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis | 2.30% | 2.50% | 9.09% | 2.06% | 0.58% | 1.54% | -0.46% | 3.78% |
Correlation
The correlation between VEMA.L and SEMC.L is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019 | 0.83 |
The correlation between VEMA.L and SEMC.L has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
VEMA.L vs. SEMC.L — Risk / Return Rank
VEMA.L
SEMC.L
VEMA.L vs. SEMC.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 Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.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 | SEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.29 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.69 | -0.25 |
| Martin ratioReturn relative to average drawdown | 6.67 | 7.88 | -1.22 |
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
| VEMA.L | SEMC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 1.61 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.53 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.35 | -0.04 |
Drawdowns
VEMA.L vs. SEMC.L - Drawdown Comparison
The maximum VEMA.L drawdown since its inception was -14.59%, which is greater than SEMC.L's maximum drawdown of -12.52%. Use the drawdown chart below to compare losses from any high point for VEMA.L and SEMC.L.
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Drawdown Indicators
| VEMA.L | SEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.59% | -12.52% | -2.07% |
Max Drawdown (1Y)Largest decline over 1 year | -4.39% | -3.43% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -8.38% | -7.69% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -11.89% | +0.48% |
Current DrawdownCurrent decline from peak | -0.45% | -0.29% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -4.98% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.18% | +0.43% |
Volatility
VEMA.L vs. SEMC.L - Volatility Comparison
Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) and UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) have volatilities of 1.47% and 1.50%, 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.
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Volatility by Period
| VEMA.L | SEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.47% | 1.50% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 4.07% | 4.15% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.85% | 5.74% | +0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.14% | 7.61% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.49% | 8.18% | +1.31% |
VEMA.L vs. SEMC.L - Expense Ratio Comparison
VEMA.L has a 0.25% expense ratio, which is lower than SEMC.L's 0.42% expense ratio.
Dividends
VEMA.L vs. SEMC.L - Dividend Comparison
VEMA.L has not paid dividends to shareholders, while SEMC.L's dividend yield for the trailing twelve months is around 5.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
SEMC.L UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis | 5.78% | 6.51% | 5.02% | 5.04% | 3.98% | 3.97% | 4.77% | 5.18% | 1.98% |
VEMA.L Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VEMA.L and SEMC.L have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
VEMA.L is cheaper with a 0.25% expense ratio, compared with 0.42% for SEMC.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 0.42% for SEMC.L.
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