# State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD (EMDL)

**Page:** https://fundology.uk/fund/emdl · ISIN IE00B4613386

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, EMDL (State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD, ISIN IE00B4613386) closed at £42.50 on the London Stock Exchange. Its ongoing charge is 0.55% a year (about £55 on £10,000). Over the five years to 13/11/2026 its total return was −3.8%, or −24.9% after UK CPIH inflation.

## Summary

SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD is an exchange-traded fund (ETF) from SPDR, launched in 2011. It tracks the Bloomberg EM Local Currency Liquid Government. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.55% a year — about £55 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£42.50** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | EMDL |
| ISIN | IE00B4613386 |
| Also listed as | EMDD (London Stock Exchange, US dollars), SYBM (Xetra, euros) |
| Category | Government bonds |
| Type | ETF |
| Provider | SPDR |
| Tracks | Bloomberg EM Local Currency Liquid Government |
| Income | Distributing |
| Ongoing charge | 0.55% a year (£55 per £10,000) |
| Fund size | £1.1bn |
| Launched | 2011 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 13/05/2011 |

## Income and distributions

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 14/11/2026, the latest distribution of EMDL was US$1.5592 per share: it went ex-dividend on 03/08/2026 and was paid on 17/08/2026. In the 12 months to 14/11/2026 EMDL declared 2 distributions, together US$3.1002 per share.

Latest distributions of EMDL per share, as of 14/11/2026:

| Ex-dividend date | Payment date | Amount per share |
|---|---|---|
| 03/08/2026 | 17/08/2026 | US$1.5592 |
| 02/02/2026 | 17/02/2026 | US$1.541 |
| 04/08/2025 | 18/08/2025 | US$1.4005 |
| 05/02/2025 | 19/02/2025 | US$1.3834 |
| 02/08/2024 | 16/08/2024 | US$1.3656 |
| 01/02/2024 | 15/02/2024 | US$1.3145 |
| 01/08/2023 | 15/08/2023 | US$1.3912 |
| 01/02/2023 | 15/02/2023 | US$1.0477 |

EMDL declares its distributions in US dollars; what reaches an account in pounds depends on the exchange rate the platform uses.

Distributions are not guaranteed: they can rise, fall or stop. Future dates are set and announced by the fund manager. 30 distributions are on record since 29/07/2011.

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +0.26% | -3.29% | income reinvested |
| 3 years | +6.24% | -4.01% | income reinvested |
| 5 years | -3.77% | -24.89% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD in pounds (price only, income paid out not included): 2022 −3.7%, 2023 −0.8%, 2024 −4.8%, 2025 +1.4%; 2026 to 13/11/2026 −4.0%. Returns of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: −2.6%; to 30/09/2025: −0.2%; to 30/09/2024: −1.6%; to 30/09/2023: −3.0%; to 30/09/2022: −6.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -3.7% | -11.9% | Price |
| 2023 | -0.8% | -4.7% | Price |
| 2024 | -4.8% | -8.0% | Price |
| 2025 | +1.4% | -2.1% | Price |
| 2026 to 13/11/2026 | -4.0% | -7.1% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 6.40% | -6.41% |
| 3 years | 5.64% | -8.62% |
| 5 years | 6.96% | -14.08% |

## Largest fall

Volatility of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD in pounds, annualised from weekly returns to 13/11/2026: 6.4% over 1 year, 5.6% over 3 years, 7.0% over 5 years. Largest fall in the price of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD since November 2021, in pounds: −14.1% from 10/12/2021 to 30/10/2026. The lowest 12-month return of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD in pounds (price only, income paid out not included) since January 2021 was −12.2% (12 months to 07/01/2022); the highest was +4.4% (12 months to 17/04/2026). On 13/11/2026 the price of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD was 12.9% below its highest weekly close since November 2021 (10/12/2021), in pounds.

## Charges compared with similar funds

Ongoing charge of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD 0.55% a year. Compared on 14/11/2026, 3 of the 311 other government bond funds charge more, 2 the same and 306 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.55%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 05/11/2026, EMDL holds 622 positions, according to its published holdings. The largest is Cash_USD at 0.94% of the fund; the ten largest make up 7.6%.

### Top holdings

Largest positions (as of 05/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Cash_USD | — | 0.94% |
| 2 | Letra Tesouro Nacional 0 01/01/2029 | — | 0.91% |
| 3 | Letra Tesouro Nacional 0 07/01/2029 | — | 0.82% |
| 4 | Republic of South Africa 8.75 02/28/2048 | — | 0.76% |
| 5 | Mex Bonos Desarr Fix Rt 8.5 02/28/2030 | — | 0.72% |
| 6 | Nota Do Tesouro Nacional 10 01/01/2029 | — | 0.72% |
| 7 | Letra Tesouro Nacional 0 01/01/2032 | — | 0.70% |
| 8 | Mex Bonos Desarr Fix Rt 8.5 03/01/2029 | — | 0.69% |
| 9 | Mex Bonos Desarr Fix Rt 7.75 05/29/2031 | — | 0.68% |
| 10 | Mex Bonos Desarr Fix Rt 7.75 11/13/2042 | — | 0.68% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 05/11/2026.

| Country | Weight |
|---|---|
| South Korea | 9.9% |
| China | 9.9% |
| India | 9.0% |
| Malaysia | 8.1% |
| Mexico | 7.9% |
| Thailand | 7.2% |
| Indonesia | 7.1% |
| Brazil | 6.5% |
| Other countries | 34.5% |

The 620 holdings on record (of 622 reported): https://fundology.uk/fund/emdl/holdings

## Questions people ask

**What is the ongoing charge of EMDL?**

The ongoing charge of EMDL is 0.55% a year — about £55 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of SSGA SPDR ETFs Europe I PLC - State Street SPDR Bloomberg Emerging Markets Local Bond UCITS ETF USD 0.55% a year. Compared on 14/11/2026, 3 of the 311 other government bond funds charge more, 2 the same and 306 less (share classes counted once).

**What does EMDL track?**

EMDL tracks the Bloomberg EM Local Currency Liquid Government.

**Is EMDL accumulating or distributing?**

EMDL is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**When does EMDL pay dividends?**

EMDL pays its income out twice a year. In the 12 months to 14/11/2026 it went ex-dividend on 02/02/2026 and 03/08/2026. The latest distribution went ex-dividend on 03/08/2026 and was paid on 17/08/2026. Future dates are set and announced by the fund manager; distributions are not guaranteed and can change.

**What is the ISIN of EMDL?**

The ISIN of EMDL is IE00B4613386. An ISIN identifies one exact share class of a fund; EMDL is its ticker on the London Stock Exchange. The same share class is also listed as EMDD (London Stock Exchange, US dollars) and SYBM (Xetra, euros).

**What does EMDL hold?**

As of 05/11/2026, EMDL holds 622 positions, according to its published holdings. The largest is Cash_USD at 0.94% of the fund; the ten largest make up 7.6%. Its ten largest holdings are Cash_USD (0.94%), Letra Tesouro Nacional 0 01/01/2029 (0.91%), Letra Tesouro Nacional 0 07/01/2029 (0.82%), Republic of South Africa 8.75 02/28/2048 (0.76%), Mex Bonos Desarr Fix Rt 8.5 02/28/2030 (0.72%), Nota Do Tesouro Nacional 10 01/01/2029 (0.72%), Letra Tesouro Nacional 0 01/01/2032 (0.70%), Mex Bonos Desarr Fix Rt 8.5 03/01/2029 (0.69%), Mex Bonos Desarr Fix Rt 7.75 05/29/2031 (0.68%) and Mex Bonos Desarr Fix Rt 7.75 11/13/2042 (0.68%).

**What were EMDL’s returns in each of the last five years?**

Calendar-year returns of EMDL in pounds (price only, income paid out not included): 2022 −3.7%, 2023 −0.8%, 2024 −4.8%, 2025 +1.4%; 2026 to 13/11/2026 −4.0%. Past performance is not a guide to future returns.

**How has EMDL done after inflation?**

Over the five years to 13/11/2026 EMDL’s total return was −3.8%, or −24.9% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at State Street Global Advisors](https://www.ssga.com/uk/en_gb/intermediary/etfs/state-street-spdr-bloomberg-emerging-markets-local-bond-ucits-etf-dist-sybm-gy)
- [Key investor information document (KIID)](https://www.ssga.com/library-content/kiids?isin=IE00B4613386&documentType=kiid&country=uk&language=en_gb&ticker=sybm-gy)
- [Factsheet](https://www.ssga.com/library-content/products/factsheets/etfs/emea/factsheet-emea-en_gb-sybm-gy.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.