EDG2.L vs. EXCS.L

Last updated Jun 5, 2026

EDG2.L (iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from iShares tracking the MSCI EM NR USD. Both are passively managed. Over the past 3 years, EDG2.L returned 20.29%/yr vs 24.90%/yr for EXCS.L. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.

Performance

EDG2.L vs. EXCS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.L) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDG2.L achieves a 25.10% return, which is significantly lower than EXCS.L's 38.77% return.

EDG2.L

• 1D: -1.36%
• 1M: 6.61%
• YTD: 25.10%
• 6M: 26.84%
• 1Y: 51.62%
• 3Y*: 20.29%
• 5Y*: 7.75%
• 10Y*: —

EXCS.L

• 1D: -1.64%
• 1M: 8.94%
• YTD: 38.77%
• 6M: 43.14%
• 1Y: 73.63%
• 3Y*: 24.90%
• 5Y*: —
• 10Y*: —

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

EDG2.L vs. EXCS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EDG2.L iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc)	25.10%	26.14%	8.61%	2.17%	-12.40%	-0.01%
EXCS.L iShares MSCI EM ex-China UCITS ETF USD (Acc)	38.77%	26.13%	5.55%	10.95%	-8.31%	2.81%

Correlation

The correlation between EDG2.L and EXCS.L is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (All Time) Calculated using the full available price history since Nov 30, 2021	0.86

The correlation between EDG2.L and EXCS.L has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

EDG2.L vs. EXCS.L - Sectors Allocation Comparison

Sectors	EDG2.L	EXCS.L
Technology	43.1%	45.1%
Financial Services	17.9%	19.5%
Consumer Cyclical	8.6%	4.5%
Industrials	7.0%	8.3%
Communication Services	6.3%	3.4%
Basic Materials	5.5%	6.8%
Energy	3.4%	4.2%
Consumer Defensive	2.7%	2.9%
Healthcare	2.6%	2.2%
Utilities	1.7%	2.3%
Real Estate	1.3%	1.0%

Return for Risk

EDG2.L vs. EXCS.L — Risk / Return Rank

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

EDG2.L

EDG2.L Risk / Return Rank: 86
EDG2.L Sharpe Ratio Rank: 90
EDG2.L Sortino Ratio Rank: 87
EDG2.L Omega Ratio Rank: 89
EDG2.L Calmar Ratio Rank: 84
EDG2.L Martin Ratio Rank: 82

EXCS.L

EXCS.L Risk / Return Rank: 94
EXCS.L Sharpe Ratio Rank: 95
EXCS.L Sortino Ratio Rank: 94
EXCS.L Omega Ratio Rank: 95
EXCS.L Calmar Ratio Rank: 92
EXCS.L Martin Ratio Rank: 92

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.

EDG2.L vs. EXCS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.L) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.

	EDG2.L	EXCS.L	Difference
Sharpe ratio: Return per unit of total volatility	3.00	3.88	-0.88
Sortino ratio: Return per unit of downside risk	3.88	4.79	-0.92
Omega ratio: Gain probability vs. loss probability	1.56	1.70	-0.14
Calmar ratio: Return relative to maximum drawdown	4.54	6.20	-1.66
Martin ratio: Return relative to average drawdown	15.95	22.70	-6.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDG2.L vs. EXCS.L - Sharpe Ratio Comparison

The current EDG2.L Sharpe Ratio is 3.00, which is comparable to the EXCS.L Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of EDG2.L and EXCS.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

	EDG2.L	EXCS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	3.88	-0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	1.03	-0.51

Drawdowns

EDG2.L vs. EXCS.L - Drawdown Comparison

The maximum EDG2.L drawdown since its inception was -28.22%, which is greater than EXCS.L's maximum drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for EDG2.L and EXCS.L.

Drawdown Indicators

	EDG2.L	EXCS.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.22%	-17.51%	-10.71%
Max Drawdown (1Y) Largest decline over 1 year	-11.31%	-11.81%	+0.50%
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	-17.51%	+2.16%
Max Drawdown (5Y) Largest decline over 5 years	-25.03%	—	—
Current Drawdown Current decline from peak	-2.52%	-2.34%	-0.18%
Average Drawdown Average peak-to-trough decline	-12.12%	-4.85%	-7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	3.23%	0.00%

Volatility

EDG2.L vs. EXCS.L - Volatility Comparison

The current volatility for iShares MSCI EM ESG Enhanced UCITS ETF USD (Acc) (EDG2.L) is 7.51%, while iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a volatility of 8.66%. This indicates that EDG2.L experiences smaller price fluctuations and is considered to be less risky than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDG2.L	EXCS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.51%	8.66%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	14.69%	16.55%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	18.88%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	15.36%	+0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.91%	15.36%	+2.55%

EDG2.L vs. EXCS.L - Expense Ratio Comparison

Both EDG2.L and EXCS.L 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

EDG2.L vs. EXCS.L - Dividend Comparison

Neither EDG2.L nor EXCS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EDG2.L and EXCS.L in my portfolio?

With a correlation of 0.93, EDG2.L and EXCS.L 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.

Which ETF is better, EDG2.L or EXCS.L?

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EDG2.L or EXCS.L?

EDG2.L and EXCS.L have the same expense ratio: 0.18% per year.

What is the main difference between EDG2.L and EXCS.L?

Both ETFs track MSCI EM NR USD.