AYEM.DE vs. XEMD.DE
AYEM.DE (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) and XEMD.DE (Xtrackers MSCI Emerging Markets UCITS ETF 1D) are both Emerging Markets Equities funds - AYEM.DE tracks the MSCI Emerging Markets IMI ESG Screened while XEMD.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 3 years, AYEM.DE returned 20.23%/yr vs 20.80%/yr for XEMD.DE. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.18% expense ratio.
Performance
AYEM.DE vs. XEMD.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AYEM.DE having a 26.90% return and XEMD.DE slightly higher at 28.06%.
AYEM.DE
- 1D
- -1.29%
- 1M
- 4.35%
- YTD
- 26.90%
- 6M
- 27.17%
- 1Y
- 46.15%
- 3Y*
- 20.23%
- 5Y*
- 8.30%
- 10Y*
- —
XEMD.DE
- 1D
- -1.59%
- 1M
- 6.02%
- YTD
- 28.06%
- 6M
- 29.15%
- 1Y
- 49.56%
- 3Y*
- 20.80%
- 5Y*
- —
- 10Y*
- —
AYEM.DE vs. XEMD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 26.90% | 17.51% | 14.02% | 6.81% | -14.64% | -1.96% |
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 28.06% | 18.67% | 13.85% | 5.68% | -14.85% | -1.50% |
Correlation
The correlation between AYEM.DE and XEMD.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.97 |
The correlation between AYEM.DE and XEMD.DE has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
AYEM.DE vs. XEMD.DE — Risk / Return Rank
AYEM.DE
XEMD.DE
AYEM.DE vs. XEMD.DE - 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 Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE). 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 | XEMD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.50 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.30 | 4.60 | -0.30 |
| Martin ratioReturn relative to average drawdown | 15.83 | 16.76 | -0.93 |
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 | XEMD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.68 | 2.77 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.58 | 0.00 |
Drawdowns
AYEM.DE vs. XEMD.DE - Drawdown Comparison
The maximum AYEM.DE drawdown since its inception was -31.19%, which is greater than XEMD.DE's maximum drawdown of -23.50%. Use the drawdown chart below to compare losses from any high point for AYEM.DE and XEMD.DE.
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Drawdown Indicators
| AYEM.DE | XEMD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.19% | -23.50% | -7.69% |
Max Drawdown (1Y)Largest decline over 1 year | -11.01% | -10.72% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -19.14% | -19.19% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -23.38% | — | — |
Current DrawdownCurrent decline from peak | -2.20% | -2.54% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -8.38% | -9.22% | +0.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.95% | +0.05% |
Volatility
AYEM.DE vs. XEMD.DE - Volatility Comparison
The current volatility for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) is 7.02%, while Xtrackers MSCI Emerging Markets UCITS ETF 1D (XEMD.DE) has a volatility of 7.39%. This indicates that AYEM.DE experiences smaller price fluctuations and is considered to be less risky than XEMD.DE 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 | XEMD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.02% | 7.39% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 14.89% | 15.08% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 17.84% | -0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 16.76% | -0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.62% | 16.76% | +1.86% |
AYEM.DE vs. XEMD.DE - Expense Ratio Comparison
Both AYEM.DE and XEMD.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
AYEM.DE vs. XEMD.DE - Dividend Comparison
AYEM.DE has not paid dividends to shareholders, while XEMD.DE's dividend yield for the trailing twelve months is around 1.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XEMD.DE Xtrackers MSCI Emerging Markets UCITS ETF 1D | 1.55% | 1.92% | 3.01% | 2.38% | 2.66% |
Frequently Asked Questions
With a correlation of 0.99, AYEM.DE and XEMD.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
AYEM.DE and XEMD.DE have the same expense ratio: 0.18% per year.
AYEM.DE tracks MSCI Emerging Markets IMI ESG Screened, while XEMD.DE tracks MSCI EM NR USD. They also come from different issuers: iShares and Xtrackers.
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