EIMI.L vs. U03A.L
EIMI.L (iShares Core MSCI EM IMI UCITS ETF) and U03A.L (iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc)) are both exchange-traded funds - EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index, while U03A.L is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Bill Index. Both are passively managed. Over the past year, EIMI.L returned 41.26% vs 3.94% for U03A.L. At a correlation of -0.14, they often move in opposite directions. EIMI.L charges 0.18%/yr vs 0.07%/yr for U03A.L.
Performance
EIMI.L vs. U03A.L - Performance Comparison
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Returns By Period
In the year-to-date period, EIMI.L achieves a 22.10% return, which is significantly higher than U03A.L's 1.69% return.
EIMI.L
- 1D
- -0.20%
- 1M
- 1.94%
- YTD
- 22.10%
- 6M
- 22.89%
- 1Y
- 41.26%
- 3Y*
- 22.53%
- 5Y*
- 7.28%
- 10Y*
- 10.41%
U03A.L
- 1D
- 0.00%
- 1M
- 0.29%
- YTD
- 1.69%
- 6M
- 1.83%
- 1Y
- 3.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EIMI.L vs. U03A.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 22.10% | 30.74% |
U03A.L iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) | 1.69% | 3.60% |
Correlation
The correlation between EIMI.L and U03A.L is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025 | -0.14 |
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Return for Risk
EIMI.L vs. U03A.L — Risk / Return Rank
EIMI.L
U03A.L
EIMI.L vs. U03A.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EM IMI UCITS ETF (EIMI.L) and iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.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.
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.
| EIMI.L | U03A.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.54 | ||
| Sortino ratioReturn per unit of downside risk | -15.37 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 4.83 | -3.45 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 34.26 | -31.02 |
| Martin ratioReturn relative to average drawdown | 11.17 | 248.94 | -237.76 |
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Drawdowns
EIMI.L vs. U03A.L - Drawdown Comparison
The maximum EIMI.L drawdown since its inception was -38.73%, which is greater than U03A.L's maximum drawdown of -0.11%. Use the drawdown chart below to compare losses from any high point for EIMI.L and U03A.L.
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Drawdown Indicators
| EIMI.L | U03A.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.73% | -0.11% | -38.62% |
Max Drawdown (1Y)Largest decline over 1 year | -12.66% | -0.11% | -12.55% |
Max Drawdown (3Y)Largest decline over 3 years | -17.44% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -35.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.73% | — | — |
Current DrawdownCurrent decline from peak | -5.02% | -0.02% | -5.00% |
Average DrawdownAverage peak-to-trough decline | -13.96% | -0.01% | -13.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.68% | 0.02% | +3.66% |
Volatility
EIMI.L vs. U03A.L - Volatility Comparison
iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a higher volatility of 9.06% compared to iShares USD Treasury Bond 0-3 Month UCITS ETF USD (Acc) (U03A.L) at 0.11%. This indicates that EIMI.L's price experiences larger fluctuations and is considered to be riskier than U03A.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EIMI.L | U03A.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.06% | 0.11% | +8.95% |
Volatility (6M)Calculated over the trailing 6-month period | 18.57% | 0.25% | +18.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.67% | 0.46% | +20.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.66% | 0.49% | +18.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.21% | 0.49% | +18.72% |
EIMI.L vs. U03A.L - Expense Ratio Comparison
EIMI.L has a 0.18% expense ratio, which is higher than U03A.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
EIMI.L vs. U03A.L - Dividend Comparison
Neither EIMI.L nor U03A.L has paid dividends to shareholders.
Frequently Asked Questions
EIMI.L and U03A.L have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, U03A.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
U03A.L is cheaper with a 0.07% expense ratio, compared with 0.18% for EIMI.L.
EIMI.L is categorized as Emerging Markets Equities, while U03A.L is Ultrashort Bond. EIMI.L tracks MSCI Emerging Markets Investable Market Index, while U03A.L tracks ICE 0-3 Month US Treasury Bill Index. Their fees differ too: 0.18% for EIMI.L and 0.07% for U03A.L.
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