VEMT.L vs. SEMC.L
VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) 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, VEMT.L returned 3.40%/yr vs 4.04%/yr for SEMC.L. Their correlation of 0.84 suggests significant overlap in exposure. VEMT.L charges 0.25%/yr vs 0.42%/yr for SEMC.L.
Performance
VEMT.L vs. SEMC.L - Performance Comparison
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Different Trading Currencies
VEMT.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, VEMT.L achieves a 1.55% return, which is significantly lower than SEMC.L's 2.30% 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*
- —
SEMC.L
- 1D
- 0.03%
- 1M
- 1.31%
- YTD
- 2.30%
- 6M
- 2.17%
- 1Y
- 9.29%
- 3Y*
- 5.66%
- 5Y*
- 4.04%
- 10Y*
- —
VEMT.L vs. SEMC.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% | -1.71% |
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% | 4.45% | 5.08% | -2.48% |
Correlation
The correlation between VEMT.L and SEMC.L is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 14, 2017 | 0.84 |
The correlation between VEMT.L and SEMC.L has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
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Return for Risk
VEMT.L vs. SEMC.L — Risk / Return Rank
VEMT.L
SEMC.L
VEMT.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 Distributing (VEMT.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.
| VEMT.L | SEMC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.69 | -0.26 |
| Martin ratioReturn relative to average drawdown | 6.86 | 7.88 | -1.03 |
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 | SEMC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.72 | 1.61 | +0.11 |
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 | 0.30 | 0.35 | -0.04 |
Drawdowns
VEMT.L vs. SEMC.L - Drawdown Comparison
The maximum VEMT.L drawdown since its inception was -14.64%, 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 VEMT.L and SEMC.L.
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Drawdown Indicators
| VEMT.L | SEMC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.64% | -12.52% | -2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -3.43% | -0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -8.59% | -7.69% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -11.41% | -11.89% | +0.48% |
Current DrawdownCurrent decline from peak | -0.50% | -0.29% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -5.88% | -4.98% | -0.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.18% | +0.35% |
Volatility
VEMT.L vs. SEMC.L - Volatility Comparison
The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) is 1.33%, while UBS ETF (LU) J.P. Morgan USD EM Diversified Bond 1-5 UCITS ETF (USD) A-dis (SEMC.L) has a volatility of 1.50%. This indicates that VEMT.L experiences smaller price fluctuations and is considered to be less risky than SEMC.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 | SEMC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.33% | 1.50% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 4.50% | 4.15% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.11% | 5.74% | +0.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.13% | 7.61% | +0.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.15% | 8.18% | +0.97% |
VEMT.L vs. SEMC.L - Expense Ratio Comparison
VEMT.L has a 0.25% expense ratio, which is lower than SEMC.L's 0.42% expense ratio.
Dividends
VEMT.L vs. SEMC.L - Dividend Comparison
VEMT.L's dividend yield for the trailing twelve months is around 5.92%, more than SEMC.L's 5.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
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% |
Frequently Asked Questions
VEMT.L and SEMC.L have a correlation of 0.80, 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 0.42% 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 VEMT.L and 0.42% for SEMC.L.
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