- Issuer
- iShares
- Inception Date
- Apr 7, 2003
- Category
- Emerging Markets Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- iShares MSCI Emerging Markets Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
Share Price Chart
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Performance
IEM.AX Performance Chart
iShares MSCI Emerging Markets ETF (AU) (IEM.AX) is up 15.0% since the beginning of the year. IEM.AX is currently trading at A$94 per share. Investors who bought A$1,000 worth of IEM.AX shares 5 years ago would now be looking at an investment worth A$1,399.
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Returns By Period
iShares MSCI Emerging Markets ETF (AU) (IEM.AX) has returned 14.97% so far this year and 26.47% over the past 12 months. Over the last ten years, IEM.AX has returned 9.10% per year, falling short of the S&P 500 Index benchmark, which averaged 14.27% annually.
iShares MSCI Emerging Markets ETF (AU)
- 1D
- -2.08%
- 1M
- -4.44%
- 6M
- 8.61%
- YTD
- 14.97%
- 1Y
- 26.47%
- 3Y*
- 17.23%
- 5Y*
- 6.95%
- 10Y*
- 9.10%
Benchmark (S&P 500 Index)
- 1D
- 0.12%
- 1M
- 1.38%
- 6M
- 4.49%
- YTD
- 5.58%
- 1Y
- 12.98%
- 3Y*
- 18.01%
- 5Y*
- 13.12%
- 10Y*
- 14.27%
IEM.AX Monthly Returns History
Based on dividend-adjusted daily data since Oct 10, 2007, IEM.AX's average daily return is +0.03%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.
Historically, 57% of months were positive and 43% were negative. The best month was Dec 2007 with a return of +12.0%, while the worst month was Jan 2008 at -13.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 6 months.
On a daily basis, IEM.AX closed higher 51% of trading days. The best single day was Oct 14, 2008 with a return of +15.7%, while the worst single day was Oct 16, 2008 at -12.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.41% | 2.63% | -9.90% | 10.73% | 9.21% | 2.71% | -5.04% | 14.97% | |||||
| 2025 | 3.23% | -0.57% | -0.49% | -0.98% | 4.46% | 4.09% | 3.23% | 0.64% | 6.02% | 4.91% | -3.09% | -0.35% | 22.71% |
| 2024 | -1.70% | 5.05% | 2.54% | 0.59% | -3.40% | 6.29% | 2.30% | -2.91% | 5.35% | 0.10% | -2.60% | 2.93% | 14.85% |
| 2023 | 3.04% | -2.16% | 3.11% | -0.20% | 0.07% | -0.36% | 7.85% | -2.74% | -2.64% | -3.17% | 3.68% | 0.35% | 6.42% |
| 2022 | 0.67% | -6.33% | -3.91% | -1.65% | -0.58% | -2.16% | -1.97% | 2.07% | -6.52% | -1.93% | 8.41% | 0.45% | -13.41% |
| 2021 | 3.91% | -2.21% | 0.81% | 1.08% | 1.35% | 3.68% | -5.02% | 2.09% | -1.37% | -3.05% | 1.08% | -0.22% | 1.75% |
Benchmark Metrics
iShares MSCI Emerging Markets ETF (AU) has an annualized alpha of 5.47%, beta of 0.06, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since October 10, 2007.
- This ETF participated in 52.86% of S&P 500 Index downside but only 40.39% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.06 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.47%
- Beta
- 0.06
- R²
- 0.00
- Upside Capture
- 40.39%
- Downside Capture
- 52.86%
Return for Risk
Risk / Return Rank
IEM.AX ranks 51 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (AU) (IEM.AX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IEM.AX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.24 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 1.11 | +1.14 |
| Martin ratioReturn relative to average drawdown | 7.30 | 3.10 | +4.20 |
Dividends
Dividend History
iShares MSCI Emerging Markets ETF (AU) provided a 0.80% dividend yield over the last twelve months, with an annual payout of A$0.75 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | A$0.75 | A$0.73 | A$0.44 | A$0.69 | A$1.91 | A$1.59 | A$0.87 | A$2.21 | A$0.60 | A$1.38 |
Dividend yield | 0.80% | 0.89% | 0.66% | 1.16% | 3.38% | 2.36% | 1.28% | 3.45% | 1.06% | 2.28% |
Monthly Dividends
The table displays the monthly dividend distributions for iShares MSCI Emerging Markets ETF (AU). The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.75 | A$0.75 | |||||
| 2025 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.73 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.73 |
| 2024 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.44 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.44 |
| 2023 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.69 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.69 |
| 2022 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.83 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$1.08 | A$1.91 |
| 2021 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.76 | A$0.00 | A$0.00 | A$0.00 | A$0.00 | A$0.84 | A$1.59 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the iShares MSCI Emerging Markets ETF (AU). A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the iShares MSCI Emerging Markets ETF (AU) was 43.82%, occurring on Nov 21, 2008. Recovery took 1566 trading sessions.
The current iShares MSCI Emerging Markets ETF (AU) drawdown is 7.45%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-43.82%Nov 2008 | 10mo 29d | 6y 2mo | 7y 1moDec 2007 - Feb 2015 | Financial crisis2007–2009 |
-27.76%Feb 2016 | 10mo 4d | 1y 6mo | 2y 4moApr 2015 - Aug 2017 | — |
-27.57%Oct 2022 | 1y 8mo | 2y 3mo | 3y 11moFeb 2021 - Jan 2025 | Bear market2022 |
-20.65%Mar 2020 | 2mo 3d | 7mo 29d | 10mo 2dJan 2020 - Nov 2020 | COVID crash2020 |
-14.47%Oct 2018 | 7mo 7d | 1y 3d | 1y 7moMar 2018 - Oct 2019 | Rate-hike selloffLate 2018 |
Drawdown Indicators
| IEM.AX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.82% | -41.07% | -2.75% |
Max Drawdown (1Y)Largest decline over 1 year | -11.25% | -11.69% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -11.25% | -17.74% | +6.49% |
Max Drawdown (5Y)Largest decline over 5 years | -25.97% | -22.01% | -3.96% |
Max Drawdown (10Y)Largest decline over 10 years | -27.57% | -24.71% | -2.86% |
Current DrawdownCurrent decline from peak | -7.45% | -0.60% | -6.85% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -11.02% | -1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 4.20% | -0.67% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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Build a portfolio with IEM.AX
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