VEMT.L vs. EMBE.L
VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and EMBE.L (iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist)) are both Emerging Markets Bonds funds - VEMT.L tracks the JPM EMBI Global Diversified TR USD while EMBE.L tracks the JPM EMBI Global Diversified Hedge TR EUR. Both are passively managed. Over the past 5 years, VEMT.L returned 3.40%/yr vs -0.19%/yr for EMBE.L. A 0.53 correlation means they provide meaningful diversification when combined. VEMT.L charges 0.25%/yr vs 0.50%/yr for EMBE.L.
Performance
VEMT.L vs. EMBE.L - Performance Comparison
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Different Trading Currencies
VEMT.L is traded in GBP, while EMBE.L is traded in EUR. To make them comparable, the EMBE.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, VEMT.L achieves a 1.55% return, which is significantly higher than EMBE.L's 0.26% return.
VEMT.L
- 1D
- 0.03%
- 1M
- 1.60%
- YTD
- 1.55%
- 6M
- 1.13%
- 1Y
- 10.55%
- 3Y*
- 5.98%
- 5Y*
- 3.40%
- 10Y*
- —
EMBE.L
- 1D
- 0.36%
- 1M
- 1.03%
- YTD
- 0.26%
- 6M
- 0.23%
- 1Y
- 11.72%
- 3Y*
- 7.67%
- 5Y*
- -0.19%
- 10Y*
- 1.97%
VEMT.L vs. EMBE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 1.55% | 4.07% | 8.08% | 3.44% | -5.19% | -0.56% | 2.53% | 9.67% | 2.79% | -1.59% |
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 0.26% | 16.93% | -0.73% | 5.50% | -16.76% | -9.01% | 9.20% | 5.91% | -7.50% | 12.75% |
Correlation
The correlation between VEMT.L and EMBE.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 8, 2016 | 0.53 |
Over the past year, the correlation between VEMT.L and EMBE.L has dropped to 0.32 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.
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Return for Risk
VEMT.L vs. EMBE.L — Risk / Return Rank
VEMT.L
EMBE.L
VEMT.L vs. EMBE.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 (VEMT.L) and iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.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.
| VEMT.L | EMBE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.32 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.25 | +0.19 |
| Martin ratioReturn relative to average drawdown | 6.86 | 7.44 | -0.58 |
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
| VEMT.L | EMBE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.75 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | -0.02 | +0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.18 | +0.12 |
Drawdowns
VEMT.L vs. EMBE.L - Drawdown Comparison
The maximum VEMT.L drawdown since its inception was -14.64%, smaller than the maximum EMBE.L drawdown of -33.24%. Use the drawdown chart below to compare losses from any high point for VEMT.L and EMBE.L.
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Drawdown Indicators
| VEMT.L | EMBE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -33.24% | +18.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -5.20% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -7.25% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -29.29% | +17.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.24% | — |
Current DrawdownCurrent decline from peak | -0.50% | -8.17% | +7.67% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -11.29% | +5.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.57% | -0.04% |
Volatility
VEMT.L vs. EMBE.L - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) is 1.33%, while iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) (EMBE.L) has a volatility of 2.37%. This indicates that VEMT.L experiences smaller price fluctuations and is considered to be less risky than EMBE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEMT.L | EMBE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 2.37% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 5.25% | -0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 6.73% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.13% | 9.85% | -1.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.15% | 11.14% | -1.99% |
VEMT.L vs. EMBE.L - Expense Ratio Comparison
VEMT.L has a 0.25% expense ratio, which is lower than EMBE.L's 0.50% expense ratio.
Dividends
VEMT.L vs. EMBE.L - Dividend Comparison
VEMT.L's dividend yield for the trailing twelve months is around 5.92%, more than EMBE.L's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMBE.L iShares J.P. Morgan USD EM Bond EUR Hedged UCITS ETF (Dist) | 5.63% | 5.44% | 5.64% | 5.50% | 5.39% | 3.92% | 3.85% | 4.77% | 5.75% | 3.88% | 5.36% | 4.72% |
VEMT.L Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing | 5.92% | 6.17% | 5.74% | 5.56% | 4.88% | 3.81% | 4.47% | 4.46% | 4.44% | 4.81% | 0.00% | 0.00% |
Frequently Asked Questions
VEMT.L and EMBE.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VEMT.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VEMT.L is cheaper with a 0.25% expense ratio, compared with 0.50% for EMBE.L.
VEMT.L tracks JPM EMBI Global Diversified TR USD, while EMBE.L tracks JPM EMBI Global Diversified Hedge TR EUR. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.25% for VEMT.L and 0.50% for EMBE.L.
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