ATO.PA vs. EMIM.L

Last updated Jun 4, 2026

ATO.PA (Atos SE) is a stock, while EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) is Emerging Markets Equities fund tracking the MSCI EM NR USD. Over the past 10 years, ATO.PA returned -37.46%/yr vs 10.36%/yr for EMIM.L. At a 0.32 correlation, their price movements are largely independent.

Performance

ATO.PA vs. EMIM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Atos SE (ATO.PA) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

ATO.PA is traded in EUR, while EMIM.L is traded in GBp. To make them comparable, the EMIM.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, ATO.PA achieves a -23.26% return, which is significantly lower than EMIM.L's 27.13% return. Over the past 10 years, ATO.PA has underperformed EMIM.L with an annualized return of -37.46%, while EMIM.L has yielded a comparatively higher 10.36% annualized return.

ATO.PA

• 1D: -4.70%
• 1M: 10.63%
• YTD: -23.26%
• 6M: -19.51%
• 1Y: 4.05%
• 3Y*: -67.08%
• 5Y*: -60.46%
• 10Y*: -37.46%

EMIM.L

• 1D: -1.10%
• 1M: 9.34%
• YTD: 27.13%
• 6M: 29.57%
• 1Y: 50.17%
• 3Y*: 20.47%
• 5Y*: 8.93%
• 10Y*: 10.36%

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

ATO.PA vs. EMIM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATO.PA Atos SE	-23.26%	92.96%	-95.04%	-21.77%	-75.90%	-49.16%	0.62%	43.58%	-40.18%	22.67%
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)	27.13%	16.91%	14.45%	7.15%	-14.80%	7.30%	8.67%	19.86%	-10.44%	19.81%

Correlation

The correlation between ATO.PA and EMIM.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 10, 2014	0.32

The correlation between ATO.PA and EMIM.L shifts across timeframes, from 0.19 (3 years) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ATO.PA vs. EMIM.L — Risk / Return Rank

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

ATO.PA

ATO.PA Risk / Return Rank: 42
ATO.PA Sharpe Ratio Rank: 42
ATO.PA Sortino Ratio Rank: 43
ATO.PA Omega Ratio Rank: 41
ATO.PA Calmar Ratio Rank: 42
ATO.PA Martin Ratio Rank: 42

EMIM.L

EMIM.L Risk / Return Rank: 88
EMIM.L Sharpe Ratio Rank: 91
EMIM.L Sortino Ratio Rank: 89
EMIM.L Omega Ratio Rank: 91
EMIM.L Calmar Ratio Rank: 87
EMIM.L Martin Ratio Rank: 84

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.

ATO.PA vs. EMIM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atos SE (ATO.PA) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.

	ATO.PA	EMIM.L	Difference
Sharpe ratio Return per unit of total volatility	0.07	2.88	-2.81
Sortino ratio Return per unit of downside risk	0.57	3.84	-3.27
Omega ratio Gain probability vs. loss probability	1.06	1.53	-0.47
Calmar ratio Return relative to maximum drawdown	0.09	4.69	-4.60
Martin ratio Return relative to average drawdown	0.16	17.03	-16.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATO.PA vs. EMIM.L - Sharpe Ratio Comparison

The current ATO.PA Sharpe Ratio is 0.07, which is lower than the EMIM.L Sharpe Ratio of 2.88. The chart below compares the historical Sharpe Ratios of ATO.PA and EMIM.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

	ATO.PA	EMIM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.07	2.88	-2.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.55	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	0.57	-0.58
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.44	-0.45

Drawdowns

ATO.PA vs. EMIM.L - Drawdown Comparison

The maximum ATO.PA drawdown since its inception was -99.84%, which is greater than EMIM.L's maximum drawdown of -34.80%. Use the drawdown chart below to compare losses from any high point for ATO.PA and EMIM.L.

Drawdown Indicators

	ATO.PA	EMIM.L	Difference
Max Drawdown Largest peak-to-trough decline	-99.84%	-34.80%	-65.04%
Max Drawdown (1Y) Largest decline over 1 year	-46.73%	-10.65%	-36.08%
Max Drawdown (3Y) Largest decline over 3 years	-99.84%	-17.95%	-81.89%
Max Drawdown (5Y) Largest decline over 5 years	-99.84%	-22.35%	-77.49%
Max Drawdown (10Y) Largest decline over 10 years	-99.84%	-32.44%	-67.40%
Current Drawdown Current decline from peak	-99.62%	-1.10%	-98.52%
Average Drawdown Average peak-to-trough decline	-67.45%	-9.31%	-58.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.92%	2.94%	+22.98%

Volatility

ATO.PA vs. EMIM.L - Volatility Comparison

Atos SE (ATO.PA) has a higher volatility of 16.12% compared to iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) at 7.18%. This indicates that ATO.PA's price experiences larger fluctuations and is considered to be riskier than EMIM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATO.PA	EMIM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.12%	7.18%	+8.94%
Volatility (6M) Calculated over the trailing 6-month period	42.45%	14.40%	+28.05%
Volatility (1Y) Calculated over the trailing 1-year period	59.70%	17.38%	+42.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3,786.25%	16.32%	+3,769.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2,678.39%	18.14%	+2,660.25%

Dividends

ATO.PA vs. EMIM.L - Dividend Comparison

Neither ATO.PA nor EMIM.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATO.PA Atos SE	0.00%	0.00%	0.00%	0.00%	0.00%	2.41%	0.00%	2.29%	2.44%	1.35%	1.12%	1.06%
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ATO.PA and EMIM.L in my portfolio?

ATO.PA and EMIM.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.