VEMT.L vs. VEMA.L

Last updated Jun 5, 2026

VEMT.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing) and VEMA.L (Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating) are both Emerging Markets Bonds funds from Vanguard tracking the JPM EMBI Global Diversified TR USD. Both are passively managed. Over the past 5 years, VEMT.L returned 3.40%/yr vs 3.45%/yr for VEMA.L. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.25% expense ratio.

Performance

VEMT.L vs. VEMA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) and Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEMT.L achieves a 1.55% return, which is significantly lower than VEMA.L's 1.66% 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*: —

VEMA.L

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

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
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%	8.05%
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%

Correlation

The correlation between VEMT.L and VEMA.L is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Feb 22, 2019	0.97

The correlation between VEMT.L and VEMA.L has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

Return for Risk

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

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

VEMT.L

VEMT.L Risk / Return Rank: 49
VEMT.L Sharpe Ratio Rank: 50
VEMT.L Sortino Ratio Rank: 52
VEMT.L Omega Ratio Rank: 49
VEMT.L Calmar Ratio Rank: 50
VEMT.L Martin Ratio Rank: 43

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

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.

VEMT.L vs. VEMA.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 Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.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	VEMA.L	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.83	-0.11
Sortino ratio: Return per unit of downside risk	2.48	2.76	-0.28
Omega ratio: Gain probability vs. loss probability	1.30	1.33	-0.02
Calmar ratio: Return relative to maximum drawdown	2.44	2.44	0.00
Martin ratio: Return relative to average drawdown	6.86	6.67	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current VEMT.L Sharpe Ratio is 1.72, which is comparable to the VEMA.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of VEMT.L and VEMA.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

	VEMT.L	VEMA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	1.83	-0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.42	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.31	-0.01

Drawdowns

VEMT.L vs. VEMA.L - Drawdown Comparison

The maximum VEMT.L drawdown since its inception was -14.64%, roughly equal to the maximum VEMA.L drawdown of -14.59%. Use the drawdown chart below to compare losses from any high point for VEMT.L and VEMA.L.

Drawdown Indicators

	VEMT.L	VEMA.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.64%	-14.59%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.31%	-4.39%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-8.59%	-8.38%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-11.41%	-11.41%	0.00%
Current Drawdown Current decline from peak	-0.50%	-0.45%	-0.05%
Average Drawdown Average peak-to-trough decline	-5.88%	-6.28%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.61%	-0.08%

Volatility

VEMT.L vs. VEMA.L - Volatility Comparison

The current volatility for Vanguard USD Emerging Markets Government Bond UCITS ETF Distributing (VEMT.L) is 1.33%, while Vanguard USD Emerging Markets Government Bond UCITS ETF Accumulating (VEMA.L) has a volatility of 1.47%. This indicates that VEMT.L experiences smaller price fluctuations and is considered to be less risky than VEMA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VEMT.L	VEMA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	1.47%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	4.50%	4.07%	+0.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.11%	5.85%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.13%	8.14%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.15%	9.49%	-0.34%

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

Both VEMT.L and VEMA.L have an expense ratio of 0.25%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VEMT.L vs. VEMA.L - Dividend Comparison

VEMT.L's dividend yield for the trailing twelve months is around 5.92%, while VEMA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%	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

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

VEMT.L and VEMA.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

Both ETFs have the same 0.25% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

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

VEMT.L and VEMA.L have the same expense ratio: 0.25% per year.

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

Both ETFs track JPM EMBI Global Diversified TR USD.