E127.L vs. PACW.L

Last updated Jun 5, 2026

E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) and PACW.L (Amundi Prime All Country World UCITS ETF Income) are both exchange-traded funds - E127.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while PACW.L is a Global Equities fund tracking the Solactive GBS Global Markets Large & Mid Cap Index. Both are passively managed. Over the past year, E127.L returned 54.75% vs 30.29% for PACW.L. A 0.74 correlation means they provide meaningful diversification when combined. E127.L charges 0.14%/yr vs 0.07%/yr for PACW.L.

Performance

E127.L vs. PACW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) and Amundi Prime All Country World UCITS ETF Income (PACW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, E127.L achieves a 26.18% return, which is significantly higher than PACW.L's 11.92% return.

E127.L

• 1D: -1.40%
• 1M: 6.35%
• YTD: 26.18%
• 6M: 28.72%
• 1Y: 54.75%
• 3Y*: 21.77%
• 5Y*: 9.22%
• 10Y*: —

PACW.L

• 1D: -0.04%
• 1M: 5.24%
• YTD: 11.92%
• 6M: 12.31%
• 1Y: 30.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

E127.L vs. PACW.L - Yearly Performance Comparison

	2026 (YTD)	2025
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	26.18%	19.01%
PACW.L Amundi Prime All Country World UCITS ETF Income	11.92%	9.58%

Correlation

The correlation between E127.L and PACW.L is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.74

The correlation between E127.L and PACW.L has been stable across timeframes, ranging from 0.74 to 0.74 - a consistent structural relationship.

Return for Risk

E127.L vs. PACW.L — Risk / Return Rank

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

E127.L

E127.L Risk / Return Rank: 90
E127.L Sharpe Ratio Rank: 92
E127.L Sortino Ratio Rank: 90
E127.L Omega Ratio Rank: 92
E127.L Calmar Ratio Rank: 88
E127.L Martin Ratio Rank: 86

PACW.L

PACW.L Risk / Return Rank: 86
PACW.L Sharpe Ratio Rank: 88
PACW.L Sortino Ratio Rank: 88
PACW.L Omega Ratio Rank: 89
PACW.L Calmar Ratio Rank: 82
PACW.L Martin Ratio Rank: 85

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.

E127.L vs. PACW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) and Amundi Prime All Country World UCITS ETF Income (PACW.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.

	E127.L	PACW.L	Difference
Sharpe ratio: Return per unit of total volatility	3.25	2.89	+0.35
Sortino ratio: Return per unit of downside risk	4.14	3.95	+0.19
Omega ratio: Gain probability vs. loss probability	1.60	1.55	+0.05
Calmar ratio: Return relative to maximum drawdown	5.04	4.27	+0.76
Martin ratio: Return relative to average drawdown	18.09	17.43	+0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

E127.L vs. PACW.L - Sharpe Ratio Comparison

The current E127.L Sharpe Ratio is 3.25, which is comparable to the PACW.L Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of E127.L and PACW.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

	E127.L	PACW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	2.89	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	1.24	-0.49

Drawdowns

E127.L vs. PACW.L - Drawdown Comparison

The maximum E127.L drawdown since its inception was -26.68%, which is greater than PACW.L's maximum drawdown of -17.68%. Use the drawdown chart below to compare losses from any high point for E127.L and PACW.L.

Drawdown Indicators

	E127.L	PACW.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.68%	-17.68%	-9.00%
Max Drawdown (1Y) Largest decline over 1 year	-10.82%	-7.06%	-3.76%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	—	—
Current Drawdown Current decline from peak	-2.33%	-0.46%	-1.87%
Average Drawdown Average peak-to-trough decline	-10.34%	-3.02%	-7.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	1.73%	+1.29%

Volatility

E127.L vs. PACW.L - Volatility Comparison

Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) has a higher volatility of 7.32% compared to Amundi Prime All Country World UCITS ETF Income (PACW.L) at 2.93%. This indicates that E127.L's price experiences larger fluctuations and is considered to be riskier than PACW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	E127.L	PACW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	2.93%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	14.30%	7.75%	+6.55%
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	10.42%	+6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	13.91%	+2.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.39%	13.91%	+2.48%

E127.L vs. PACW.L - Expense Ratio Comparison

E127.L has a 0.14% expense ratio, which is higher than PACW.L's 0.07% 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

E127.L vs. PACW.L - Dividend Comparison

E127.L's dividend yield for the trailing twelve months is around 1.96%, more than PACW.L's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	1.96%	2.47%	4.04%	4.40%	2.79%	2.25%
PACW.L Amundi Prime All Country World UCITS ETF Income	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both E127.L and PACW.L in my portfolio?

E127.L and PACW.L have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, E127.L or PACW.L?

On fees, PACW.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, E127.L or PACW.L?

PACW.L is cheaper with a 0.07% expense ratio, compared with 0.14% for E127.L.

What is the main difference between E127.L and PACW.L?

E127.L is categorized as Emerging Markets Equities, while PACW.L is Global Equities. E127.L tracks MSCI EM NR USD, while PACW.L tracks Solactive GBS Global Markets Large & Mid Cap Index. Their fees differ too: 0.14% for E127.L and 0.07% for PACW.L.