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EEM vs. IAK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEM vs. IAK

Last updated Jun 14, 2026

EEM (iShares MSCI Emerging Markets ETF) and IAK (iShares U.S. Insurance ETF) are both exchange-traded funds - EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net), while IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index. Both are passively managed. Over the past 10 years, EEM returned 9.91%/yr vs 12.67%/yr for IAK. A 0.52 correlation means they provide meaningful diversification when combined. EEM charges 0.72%/yr vs 0.43%/yr for IAK.

Performance

EEM vs. IAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ETF (EEM) and iShares U.S. Insurance ETF (IAK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EEM achieves a 24.07% return, which is significantly higher than IAK's 1.11% return. Over the past 10 years, EEM has underperformed IAK with an annualized return of 9.91%, while IAK has yielded a comparatively higher 12.67% annualized return.

EEM

1D
0.56%
1M
4.32%
YTD
24.07%
6M
26.94%
1Y
47.57%
3Y*
21.60%
5Y*
6.56%
10Y*
9.91%

IAK

1D
0.68%
1M
2.70%
YTD
1.11%
6M
0.88%
1Y
5.16%
3Y*
18.27%
5Y*
13.37%
10Y*
12.67%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EEM vs. IAK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEM
iShares MSCI Emerging Markets ETF		24.07%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%
IAK
iShares U.S. Insurance ETF		1.11%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%

Correlation

The correlation between EEM and IAK is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (10Y)
Calculated over the trailing 10-year period

0.34

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.52

The correlation between EEM and IAK shifts across timeframes, from -0.07 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

EEM vs. IAK - Sectors Allocation Comparison

Sectors
EEM
IAK

Technology

44.3%

-

Financial Services

17.7%
99.4%

Consumer Cyclical

8.3%

-

Industrials

6.6%

-

Communication Services

6.0%

-

Basic Materials

5.9%

-

Energy

3.4%

-

Consumer Defensive

2.5%

-

Healthcare

2.5%
0.6%

Utilities

1.8%

-

Real Estate

1.0%

-

Technology

EEM
44.3%
IAK

-

Financial Services

EEM
17.7%
IAK
99.4%

Consumer Cyclical

EEM
8.3%
IAK

-

Industrials

EEM
6.6%
IAK

-

Communication Services

EEM
6.0%
IAK

-

Basic Materials

EEM
5.9%
IAK

-

Energy

EEM
3.4%
IAK

-

Consumer Defensive

EEM
2.5%
IAK

-

Healthcare

EEM
2.5%
IAK
0.6%

Utilities

EEM
1.8%
IAK

-

Real Estate

EEM
1.0%
IAK

-

Compare stocks, funds, or ETFs

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iShares MSCI Emerging Markets ETF

iShares U.S. Insurance ETF

Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM
Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. VTI

Return for Risk

EEM vs. IAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EEM
EEM Risk / Return Rank: 7575
Overall Rank
EEM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7070
Sortino Ratio Rank
EEM Omega Ratio Rank: 7878
Omega Ratio Rank
EEM Calmar Ratio Rank: 7575
Calmar Ratio Rank
EEM Martin Ratio Rank: 7575
Martin Ratio Rank
IAK
IAK Risk / Return Rank: 1515
Overall Rank
IAK Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1313
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
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.

EEM vs. IAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) and iShares U.S. Insurance ETF (IAK). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

EEMIAKDifference
Sharpe ratioReturn per unit of total volatility
2.10
0.29

+1.81

Sortino ratioReturn per unit of downside risk
2.73
0.50

+2.23

Omega ratioGain probability vs. loss probability

1.40

1.06

+0.34

Calmar ratioReturn relative to maximum drawdown

3.36

0.57

+2.79

Martin ratioReturn relative to average drawdown

12.38

1.27

+11.11

EEM vs. IAK - Sharpe Ratio Comparison

The current EEM Sharpe Ratio is 2.10, which is higher than the IAK Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of EEM and IAK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EEM vs. IAK - Drawdown Comparison

The maximum EEM drawdown since its inception was -66.43%, smaller than the maximum IAK drawdown of -77.38%. Use the drawdown chart below to compare losses from any high point for EEM and IAK.

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Drawdown Indicators

EEMIAKDifference

Max Drawdown

Largest peak-to-trough decline

-66.43%

-77.38%

+10.95%

Max Drawdown (1Y)

Largest decline over 1 year

-13.52%

-7.62%

-5.90%

Max Drawdown (3Y)

Largest decline over 3 years

-17.29%

-11.58%

-5.71%

Max Drawdown (5Y)

Largest decline over 5 years

-37.49%

-14.76%

-22.73%

Max Drawdown (10Y)

Largest decline over 10 years

-39.82%

-44.95%

+5.13%

Current Drawdown

Current decline from peak

-4.12%

-0.23%

-3.89%

Average Drawdown

Average peak-to-trough decline

-16.00%

-16.11%

+0.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.67%

3.41%

+0.26%

Volatility

EEM vs. IAK - Volatility Comparison

iShares MSCI Emerging Markets ETF (EEM) has a higher volatility of 10.80% compared to iShares U.S. Insurance ETF (IAK) at 5.49%. This indicates that EEM's price experiences larger fluctuations and is considered to be riskier than IAK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EEMIAKDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.80%

5.49%

+5.31%

Volatility (6M)

Calculated over the trailing 6-month period

19.39%

10.75%

+8.64%

Volatility (1Y)

Calculated over the trailing 1-year period

21.64%

15.10%

+6.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.26%

18.14%

+1.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.64%

20.92%

-0.28%

EEM vs. IAK - Expense Ratio Comparison

EEM has a 0.72% expense ratio, which is higher than IAK's 0.43% expense ratio.

Dividends

EEM vs. IAK - Dividend Comparison

EEM's dividend yield for the trailing twelve months is around 1.79%, less than IAK's 2.60% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.79%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
IAK
iShares U.S. Insurance ETF		2.60%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%

Frequently Asked Questions

EEM and IAK have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (10.80%) compared to IAK (5.49%). In terms of maximum drawdown, EEM dropped -66.43% vs IAK's -77.38%.

On 10-year performance, IAK leads with 12.67% vs 9.91% for EEM. On fees, IAK is cheaper at 0.43% per year. On volatility, IAK has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 12.67% return vs 9.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.43% expense ratio, compared with 0.72% for EEM.

IAK has the higher dividend yield at 2.60%, compared with 1.79% for EEM.

EEM is categorized as Emerging Markets Diversified, while IAK is Financials Equities. EEM tracks MSCI Emerging Markets Index (Net), while IAK tracks Dow Jones U.S. Select Insurance Index. Their fees differ too: 0.72% for EEM and 0.43% for IAK.

EEM currently has the higher Sharpe Ratio (2.10 vs 0.29), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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