AYEM.DE vs. IEMG

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and iShares Core MSCI Emerging Markets ETF (IEMG).

AYEM.DE and IEMG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AYEM.DE is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets IMI ESG Screened. It was launched on Oct 19, 2018. IEMG is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Investable Market Index. It was launched on Oct 18, 2012. Both AYEM.DE and IEMG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

AYEM.DE vs. IEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and iShares Core MSCI Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

AYEM.DE vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)	5.51%	17.51%	14.02%	6.81%	-14.64%	6.10%	7.92%	21.67%	1.83%
IEMG iShares Core MSCI Emerging Markets ETF	6.16%	16.83%	13.53%	8.18%	-15.02%	6.79%	8.15%	20.48%	2.88%

Different Trading Currencies

AYEM.DE is traded in EUR, while IEMG is traded in USD. To make them comparable, the IEMG values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, AYEM.DE achieves a 5.51% return, which is significantly lower than IEMG's 6.16% return.

AYEM.DE

• 1D: 3.18%
• 1M: -6.19%
• YTD: 5.51%
• 6M: 9.04%
• 1Y: 23.72%
• 3Y*: 13.82%
• 5Y*: 4.56%
• 10Y*: —

IEMG

• 1D: 0.66%
• 1M: -5.85%
• YTD: 6.16%
• 6M: 9.14%
• 1Y: 24.57%
• 3Y*: 13.88%
• 5Y*: 4.90%
• 10Y*: 8.15%

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

AYEM.DE vs. IEMG - Expense Ratio Comparison

AYEM.DE has a 0.18% expense ratio, which is higher than IEMG's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

AYEM.DE

iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)

IEMG

iShares Core MSCI Emerging Markets ETF

Return for Risk

AYEM.DE vs. IEMG — Risk / Return Rank

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

AYEM.DE

AYEM.DE Risk / Return Rank: 70
AYEM.DE Sharpe Ratio Rank: 71
AYEM.DE Sortino Ratio Rank: 69
AYEM.DE Omega Ratio Rank: 65
AYEM.DE Calmar Ratio Rank: 76
AYEM.DE Martin Ratio Rank: 71

IEMG

IEMG Risk / Return Rank: 84
IEMG Sharpe Ratio Rank: 84
IEMG Sortino Ratio Rank: 84
IEMG Omega Ratio Rank: 84
IEMG Calmar Ratio Rank: 85
IEMG 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.

AYEM.DE vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.

	AYEM.DE	IEMG	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.25	+0.07
Sortino ratio Return per unit of downside risk	1.83	1.76	+0.08
Omega ratio Gain probability vs. loss probability	1.25	1.26	-0.01
Calmar ratio Return relative to maximum drawdown	2.22	1.92	+0.29
Martin ratio Return relative to average drawdown	7.98	7.12	+0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AYEM.DE vs. IEMG - Sharpe Ratio Comparison

The current AYEM.DE Sharpe Ratio is 1.32, which is comparable to the IEMG Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of AYEM.DE and IEMG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AYEM.DE	IEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.25	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.30	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.33	+0.12

Correlation

The correlation between AYEM.DE and IEMG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

AYEM.DE vs. IEMG - Dividend Comparison

AYEM.DE has not paid dividends to shareholders, while IEMG's dividend yield for the trailing twelve months is around 2.63%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (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%
IEMG iShares Core MSCI Emerging Markets ETF	2.63%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%

Drawdowns

AYEM.DE vs. IEMG - Drawdown Comparison

The maximum AYEM.DE drawdown since its inception was -31.19%, smaller than the maximum IEMG drawdown of -34.49%. Use the drawdown chart below to compare losses from any high point for AYEM.DE and IEMG.

Drawdown Indicators

	AYEM.DE	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-31.19%	-38.71%	+7.52%
Max Drawdown (1Y) Largest decline over 1 year	-13.35%	-13.21%	-0.14%
Max Drawdown (5Y) Largest decline over 5 years	-23.38%	-35.93%	+12.55%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.71%	—
Current Drawdown Current decline from peak	-8.18%	-9.40%	+1.22%
Average Drawdown Average peak-to-trough decline	-8.54%	-13.11%	+4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.46%	-0.40%

Volatility

AYEM.DE vs. IEMG - Volatility Comparison

The current volatility for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) is 7.44%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 8.31%. This indicates that AYEM.DE experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AYEM.DE	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	8.31%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	13.01%	13.90%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	19.80%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.92%	16.17%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.45%	19.05%	-0.60%