AEMD.L vs. MKUW.L
AEMD.L (Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D)) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - AEMD.L tracks the MSCI EM NR USD while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, AEMD.L returned 6.78%/yr vs 7.68%/yr for MKUW.L. At a 0.14 correlation, their price movements are largely independent. AEMD.L charges 0.20%/yr vs 0.50%/yr for MKUW.L.
Performance
AEMD.L vs. MKUW.L - Performance Comparison
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Different Trading Currencies
AEMD.L is traded in GBp, while MKUW.L is traded in USD. To make them comparable, the MKUW.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, AEMD.L achieves a 16.48% return, which is significantly higher than MKUW.L's 0.30% return.
AEMD.L
- 1D
- -1.78%
- 1M
- -9.87%
- 6M
- 9.59%
- YTD
- 16.48%
- 1Y
- 31.38%
- 3Y*
- 17.95%
- 5Y*
- 6.78%
- 10Y*
- —
MKUW.L
- 1D
- 0.11%
- 1M
- -3.24%
- 6M
- 0.60%
- YTD
- 0.30%
- 1Y
- 3.15%
- 3Y*
- 6.77%
- 5Y*
- 7.68%
- 10Y*
- —
AEMD.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AEMD.L Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) | 16.48% | 25.85% | 8.39% | 2.59% | -10.30% | -2.34% | 14.57% | 4.68% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.30% | 16.42% | 11.06% | -13.43% | 18.60% | 29.79% | -12.53% | 6.74% |
Correlation
The correlation between AEMD.L and MKUW.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.14 |
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Return for Risk
AEMD.L vs. MKUW.L — Risk / Return Rank
AEMD.L
MKUW.L
AEMD.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.L) and Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.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.
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.
| AEMD.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.30 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.05 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 0.36 | +2.14 |
| Martin ratioReturn relative to average drawdown | 7.98 | 0.94 | +7.04 |
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Drawdowns
AEMD.L vs. MKUW.L - Drawdown Comparison
The maximum AEMD.L drawdown since its inception was -33.02%, roughly equal to the maximum MKUW.L drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for AEMD.L and MKUW.L.
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Drawdown Indicators
| AEMD.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.02% | -33.94% | +0.92% |
Max Drawdown (1Y)Largest decline over 1 year | -12.49% | -8.77% | -3.72% |
Max Drawdown (3Y)Largest decline over 3 years | -15.24% | -9.57% | -5.67% |
Max Drawdown (5Y)Largest decline over 5 years | -22.27% | -25.75% | +3.48% |
Current DrawdownCurrent decline from peak | -12.49% | -3.24% | -9.25% |
Average DrawdownAverage peak-to-trough decline | -12.57% | -10.63% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.92% | 3.35% | +0.57% |
Volatility
AEMD.L vs. MKUW.L - Volatility Comparison
Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.L) has a higher volatility of 8.95% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 2.44%. This indicates that AEMD.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AEMD.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 2.44% | +6.51% |
Volatility (6M)Calculated over the trailing 6-month period | 17.83% | 9.20% | +8.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.93% | 11.72% | +8.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.83% | 14.38% | +2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.75% | 17.70% | +1.05% |
AEMD.L vs. MKUW.L - Expense Ratio Comparison
AEMD.L has a 0.20% expense ratio, which is lower than MKUW.L's 0.50% expense ratio.
Dividends
AEMD.L vs. MKUW.L - Dividend Comparison
AEMD.L's dividend yield for the trailing twelve months is around 1.66%, while MKUW.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AEMD.L Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) | 1.66% | 1.93% | 2.31% | 2.49% | 3.14% | 2.21% | 1.66% | 2.35% | 1.90% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
AEMD.L and MKUW.L have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AEMD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AEMD.L is cheaper with a 0.20% expense ratio, compared with 0.50% for MKUW.L.
AEMD.L tracks MSCI EM NR USD, while MKUW.L tracks MSCI Kuwait 20/35 Index. They also come from different issuers: Amundi and Invesco. Their fees differ too: 0.20% for AEMD.L and 0.50% for MKUW.L.
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