AYEM.DE vs. IEMG
AYEM.DE (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) and IEMG (iShares Core MSCI Emerging Markets ETF) are both exchange-traded funds - AYEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets IMI ESG Screened, while IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Both are passively managed. Over the past 5 years, AYEM.DE returned 8.30%/yr vs 8.36%/yr for IEMG. A 0.80 correlation means they provide meaningful diversification when combined. AYEM.DE charges 0.18%/yr vs 0.09%/yr for IEMG.
Performance
AYEM.DE vs. IEMG - Performance Comparison
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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
The year-to-date returns for both stocks are quite close, with AYEM.DE having a 26.90% return and IEMG slightly lower at 26.40%.
AYEM.DE
- 1D
- -1.29%
- 1M
- 6.51%
- YTD
- 26.90%
- 6M
- 28.38%
- 1Y
- 47.58%
- 3Y*
- 20.23%
- 5Y*
- 8.30%
- 10Y*
- —
IEMG
- 1D
- -1.12%
- 1M
- 5.51%
- YTD
- 26.40%
- 6M
- 27.77%
- 1Y
- 46.73%
- 3Y*
- 19.92%
- 5Y*
- 8.36%
- 10Y*
- 9.97%
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) | 26.90% | 17.51% | 14.02% | 6.81% | -14.64% | 6.10% | 7.92% | 21.67% | 1.83% |
IEMG iShares Core MSCI Emerging Markets ETF | 26.40% | 16.83% | 13.53% | 8.18% | -15.02% | 6.79% | 8.15% | 20.48% | 2.88% |
Correlation
The correlation between AYEM.DE and IEMG is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2018 | 0.80 |
The correlation between AYEM.DE and IEMG has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
AYEM.DE vs. IEMG — Risk / Return Rank
AYEM.DE
IEMG
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 ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.48 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | 4.44 | -0.14 |
| Martin ratioReturn relative to average drawdown | 15.83 | 16.21 | -0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AYEM.DE | IEMG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.68 | 2.59 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.50 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.40 | +0.19 |
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.
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Drawdown Indicators
| AYEM.DE | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -34.49% | +3.30% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -10.58% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | -17.88% | -1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -23.38% | -22.55% | -0.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.63% | — |
Current DrawdownCurrent decline from peak | -2.20% | -2.17% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -8.38% | -9.17% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.89% | +0.11% |
Volatility
AYEM.DE vs. IEMG - Volatility Comparison
The current volatility for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) is 7.02%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 7.50%. 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.
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Volatility by Period
| AYEM.DE | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 7.50% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 14.89% | 15.44% | -0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 18.13% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 16.66% | -0.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 19.18% | -0.56% |
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%.
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 2.20%.
| Position | 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 | 2.20% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
AYEM.DE and IEMG have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEMG is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEMG is cheaper with a 0.09% expense ratio, compared with 0.18% for AYEM.DE.
AYEM.DE is categorized as Emerging Markets Equities, while IEMG is Emerging Markets Diversified. AYEM.DE tracks MSCI Emerging Markets IMI ESG Screened, while IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net). Their fees differ too: 0.18% for AYEM.DE and 0.09% for IEMG.
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