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EEMV vs. EWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMV vs. EWM

Last updated Aug 2, 2026
Documentation

EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and EWM (iShares MSCI Malaysia ETF) are both exchange-traded funds - EEMV is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while EWM is a Asia Pacific Equities fund tracking the MSCI Malaysia Index. Both are passively managed. Over the past 10 years, EEMV returned 5.71%/yr vs 2.61%/yr for EWM. Their 0.70 correlation means they have sometimes moved together and sometimes differently. EEMV charges 0.25%/yr vs 0.49%/yr for EWM.

Performance

EEMV vs. EWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and iShares MSCI Malaysia ETF (EWM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EEMV achieves a 12.46% return, which is significantly higher than EWM's 4.76% return. Over the past 10 years, EEMV has outperformed EWM with an annualized return of 5.71%, while EWM has yielded a comparatively lower 2.61% annualized return.

EEMV

1D
-0.38%
1M
-2.94%
6M
7.78%
YTD
12.46%
1Y
18.06%
3Y*
11.41%
5Y*
5.62%
10Y*
5.71%
ALL TIME*
5.22%

EWM

1D
-0.64%
1M
4.12%
6M
-1.77%
YTD
4.76%
1Y
21.43%
3Y*
13.17%
5Y*
6.56%
10Y*
2.61%
ALL TIME*
1.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EEMV

iShares MSCI Emerging Markets Min Vol Factor ETF
$16.28M$14.89M$17.73M

EWM

iShares MSCI Malaysia ETF
$7.66M$6.48M$7.51M

EEMV vs. EWM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMV
iShares MSCI Emerging Markets Min Vol Factor ETF		12.46%13.45%7.98%7.75%-13.94%5.05%6.90%7.83%-5.81%27.28%
EWM
iShares MSCI Malaysia ETF		4.76%15.74%19.46%-3.61%-6.00%-7.40%3.12%-1.41%-6.28%24.25%

Correlation

The correlation between EEMV and EWM is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.53

Correlation (3Y)
Balances recent behavior with more history.

0.56

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.57

Correlation (10Y)
Provides a long-term view across more market conditions.

0.65

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2011

0.70

The correlation between EEMV and EWM shifts across timeframes, from 0.53 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

EEMV vs. EWM - Sectors Allocation Comparison

Sectors
EEMV
EWM

Technology

37.4%

-

Financial Services

18.3%
51.8%

Communication Services

10.0%
5.3%

Consumer Cyclical

6.7%
1.1%

Industrials

5.8%
9.9%

Healthcare

5.5%
3.1%

Consumer Defensive

5.4%
7.3%

Utilities

4.2%
10.8%

Energy

3.5%
2.9%

Basic Materials

2.6%
8.8%

Real Estate

0.6%

-

Technology

EEMV
37.4%
EWM

-

Financial Services

EEMV
18.3%
EWM
51.8%

Communication Services

EEMV
10.0%
EWM
5.3%

Consumer Cyclical

EEMV
6.7%
EWM
1.1%

Industrials

EEMV
5.8%
EWM
9.9%

Healthcare

EEMV
5.5%
EWM
3.1%

Consumer Defensive

EEMV
5.4%
EWM
7.3%

Utilities

EEMV
4.2%
EWM
10.8%

Energy

EEMV
3.5%
EWM
2.9%

Basic Materials

EEMV
2.6%
EWM
8.8%

Real Estate

EEMV
0.6%
EWM

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Emerging Markets Min Vol Factor ETF

iShares MSCI Malaysia ETF

Often compared with EEMV:
EEMV vs. EEMEEMV vs. IEMGEEMV vs. SPYEEMV vs. EFAVEEMV vs. MCHIEEMV vs. USMVEEMV vs. SPEM
Often compared with EWM:
EWM vs. EIDOEWM vs. EWYEWM vs. EWTEWM vs. EPIEWM vs. VOOEWM vs. AAXJEWM vs. SCHD

Return for Risk

EEMV vs. EWM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EEMV
EEMV Risk / Return Rank: 4848
Overall Rank
EEMV Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
EEMV Sortino Ratio Rank: 4343
Sortino Ratio Rank
EEMV Omega Ratio Rank: 4949
Omega Ratio Rank
EEMV Calmar Ratio Rank: 5353
Calmar Ratio Rank
EEMV Martin Ratio Rank: 4949
Martin Ratio Rank
EWM
EWM Risk / Return Rank: 6767
Overall Rank
EWM Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
EWM Sortino Ratio Rank: 7474
Sortino Ratio Rank
EWM Omega Ratio Rank: 6969
Omega Ratio Rank
EWM Calmar Ratio Rank: 6565
Calmar Ratio Rank
EWM Martin Ratio Rank: 5151
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EEMV vs. EWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and iShares MSCI Malaysia ETF (EWM). 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.

EEMVEWMDifference
Sharpe ratioReturn per unit of total volatility
1.10
1.69

-0.59

Sortino ratioReturn per unit of downside risk
1.57
2.38

-0.81

Omega ratioGain probability vs. loss probability

1.22

1.29

-0.07

Calmar ratioReturn relative to maximum drawdown

1.90

2.27

-0.37

Martin ratioReturn relative to average drawdown

5.72

6.02

-0.30

EEMV vs. EWM - Sharpe Ratio Comparison

The current EEMV Sharpe Ratio is 1.10, which is lower than the EWM Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of EEMV and EWM, 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

EEMV vs. EWM - Drawdown Comparison

The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum EWM drawdown of -89.19%. Use the drawdown chart below to compare losses from any high point for EEMV and EWM.

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Drawdown Indicators

EEMVEWMDifference

Max Drawdown

Largest peak-to-trough decline

-31.56%

-89.19%

+57.63%

Max Drawdown (1Y)

Largest decline over 1 year

-9.50%

-10.61%

+1.11%

Max Drawdown (3Y)

Largest decline over 3 years

-12.47%

-21.31%

+8.84%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-22.76%

+0.86%

Max Drawdown (10Y)

Largest decline over 10 years

-31.56%

-43.81%

+12.25%

Current Drawdown

Current decline from peak

-7.20%

-7.42%

+0.22%

Average Drawdown

Average peak-to-trough decline

-7.94%

-31.70%

+23.76%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.16%

3.99%

-0.83%

Volatility

EEMV vs. EWM - Volatility Comparison

iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a higher volatility of 6.49% compared to iShares MSCI Malaysia ETF (EWM) at 3.73%. This indicates that EEMV's price experiences larger fluctuations and is considered to be riskier than EWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EEMVEWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.49%

3.73%

+2.76%

Volatility (6M)

Calculated over the trailing 6-month period

15.49%

10.74%

+4.75%

Volatility (1Y)

Calculated over the trailing 1-year period

16.51%

14.33%

+2.18%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.61%

13.79%

-1.18%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.06%

16.16%

-2.10%

EEMV vs. EWM - Expense Ratio Comparison

EEMV has a 0.25% expense ratio, which is lower than EWM's 0.49% expense ratio.

Dividends

EEMV vs. EWM - Dividend Comparison

EEMV's dividend yield for the trailing twelve months is around 2.27%, less than EWM's 3.55% yield.

PositionTTM20252024202320222021202020192018201720162015
EEMV
iShares MSCI Emerging Markets Min Vol Factor ETF		2.27%2.65%3.50%2.75%1.93%2.14%2.45%2.63%2.46%2.34%2.79%2.55%
EWM
iShares MSCI Malaysia ETF		3.55%3.41%3.32%3.47%3.00%6.48%1.89%2.91%3.84%5.58%5.97%37.54%

Frequently Asked Questions

EEMV and EWM have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEMV has higher volatility (6.49%) compared to EWM (3.73%). In terms of maximum drawdown, EEMV dropped -31.56% vs EWM's -89.19%.

On 10-year performance, EEMV leads with 5.71% vs 2.61% for EWM. On fees, EEMV is cheaper at 0.25% per year. On volatility, EWM has been the lower-risk option at 3.73%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EEMV has performed better with a 5.71% return vs 2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEMV is cheaper with a 0.25% expense ratio, compared with 0.49% for EWM.

EWM has the higher dividend yield at 3.55%, compared with 2.27% for EEMV.

EEMV is categorized as Emerging Markets Equities, while EWM is Asia Pacific Equities. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while EWM tracks MSCI Malaysia Index. Their fees differ too: 0.25% for EEMV and 0.49% for EWM.

EWM currently has the higher Sharpe Ratio (1.69 vs 1.10), 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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