EIMU.L vs. VWO

Last updated Jun 5, 2026

EIMU.L (iShares Core MSCI EM IMI UCITS ETF USD (Dist)) and VWO (Vanguard FTSE Emerging Markets ETF) are both Emerging Markets Equities funds - EIMU.L tracks the MSCI Emerging Markets Investable Market (IMI) Index while VWO tracks the FTSE Emerging Index. Both are passively managed. Over the past 5 years, EIMU.L returned 7.61%/yr vs 4.36%/yr for VWO. A 0.78 correlation means they provide meaningful diversification when combined. EIMU.L charges 0.18%/yr vs 0.08%/yr for VWO.

Performance

EIMU.L vs. VWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI EM IMI UCITS ETF USD (Dist) (EIMU.L) and Vanguard FTSE Emerging Markets ETF (VWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIMU.L achieves a 24.39% return, which is significantly higher than VWO's 7.94% return.

EIMU.L

• 1D: -1.28%
• 1M: 1.83%
• YTD: 24.39%
• 6M: 26.31%
• 1Y: 48.02%
• 3Y*: 23.34%
• 5Y*: 7.61%
• 10Y*: —

VWO

• 1D: -3.78%
• 1M: -4.48%
• YTD: 7.94%
• 6M: 8.77%
• 1Y: 24.19%
• 3Y*: 16.25%
• 5Y*: 4.36%
• 10Y*: 8.24%

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

EIMU.L vs. VWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EIMU.L iShares Core MSCI EM IMI UCITS ETF USD (Dist)	24.39%	31.93%	7.46%	11.02%	-19.67%	-0.63%	18.78%	16.43%	-18.45%
VWO Vanguard FTSE Emerging Markets ETF	7.94%	25.60%	10.59%	9.25%	-17.98%	1.26%	15.17%	20.75%	-19.48%

Correlation

The correlation between EIMU.L and VWO is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Mar 13, 2018	0.78

The correlation between EIMU.L and VWO has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

EIMU.L vs. VWO - Sectors Allocation Comparison

Sectors	EIMU.L	VWO
Technology	35.0%	29.6%
Financial Services	18.4%	19.5%
Consumer Cyclical	9.6%	10.7%
Industrials	8.9%	8.0%
Basic Materials	6.9%	8.0%
Communication Services	6.4%	7.1%
Energy	3.9%	4.6%
Healthcare	3.7%	3.9%
Consumer Defensive	3.3%	3.7%
Utilities	2.2%	2.9%
Real Estate	1.7%	2.2%

Return for Risk

EIMU.L vs. VWO — Risk / Return Rank

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

EIMU.L

EIMU.L Risk / Return Rank: 78
EIMU.L Sharpe Ratio Rank: 80
EIMU.L Sortino Ratio Rank: 78
EIMU.L Omega Ratio Rank: 79
EIMU.L Calmar Ratio Rank: 77
EIMU.L Martin Ratio Rank: 75

VWO

VWO Risk / Return Rank: 45
VWO Sharpe Ratio Rank: 44
VWO Sortino Ratio Rank: 42
VWO Omega Ratio Rank: 45
VWO Calmar Ratio Rank: 45
VWO Martin Ratio Rank: 48

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.

EIMU.L vs. VWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI EM IMI UCITS ETF USD (Dist) (EIMU.L) and Vanguard FTSE Emerging Markets ETF (VWO). 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.

	EIMU.L	VWO	Difference
Sharpe ratio: Return per unit of total volatility	2.56	1.49	+1.07
Sortino ratio: Return per unit of downside risk	3.42	2.08	+1.35
Omega ratio: Gain probability vs. loss probability	1.46	1.28	+0.18
Calmar ratio: Return relative to maximum drawdown	3.82	2.18	+1.64
Martin ratio: Return relative to average drawdown	14.03	7.80	+6.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIMU.L vs. VWO - Sharpe Ratio Comparison

The current EIMU.L Sharpe Ratio is 2.56, which is higher than the VWO Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of EIMU.L and VWO, 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

	EIMU.L	VWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	1.49	+1.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.25	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.26	+0.10

Drawdowns

EIMU.L vs. VWO - Drawdown Comparison

The maximum EIMU.L drawdown since its inception was -37.70%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for EIMU.L and VWO.

Drawdown Indicators

	EIMU.L	VWO	Difference
Max Drawdown Largest peak-to-trough decline	-37.70%	-67.68%	+29.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-11.17%	-1.73%
Max Drawdown (3Y) Largest decline over 3 years	-17.24%	-17.37%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-35.39%	-32.60%	-2.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.39%	—
Current Drawdown Current decline from peak	-2.51%	-5.16%	+2.65%
Average Drawdown Average peak-to-trough decline	-13.86%	-15.81%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	3.11%	+0.41%

Volatility

EIMU.L vs. VWO - Volatility Comparison

iShares Core MSCI EM IMI UCITS ETF USD (Dist) (EIMU.L) has a higher volatility of 8.53% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 6.29%. This indicates that EIMU.L's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIMU.L	VWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.53%	6.29%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	16.64%	13.79%	+2.85%
Volatility (1Y) Calculated over the trailing 1-year period	19.27%	16.33%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.25%	17.44%	+0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.89%	19.23%	+0.66%

EIMU.L vs. VWO - Expense Ratio Comparison

EIMU.L has a 0.18% expense ratio, which is higher than VWO's 0.08% 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

EIMU.L vs. VWO - Dividend Comparison

EIMU.L's dividend yield for the trailing twelve months is around 1.61%, less than VWO's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIMU.L iShares Core MSCI EM IMI UCITS ETF USD (Dist)	1.61%	1.92%	2.34%	2.43%	3.14%	1.90%	1.70%	2.30%	1.80%	0.00%	0.00%	0.00%
VWO Vanguard FTSE Emerging Markets ETF	2.50%	2.79%	3.20%	3.52%	4.11%	2.63%	1.91%	3.23%	2.88%	2.30%	2.52%	3.26%

Frequently Asked Questions

Can I hold both EIMU.L and VWO in my portfolio?

EIMU.L and VWO have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EIMU.L or VWO?

On fees, VWO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EIMU.L or VWO?

VWO is cheaper with a 0.08% expense ratio, compared with 0.18% for EIMU.L.

What is the main difference between EIMU.L and VWO?

EIMU.L tracks MSCI Emerging Markets Investable Market (IMI) Index, while VWO tracks FTSE Emerging Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.18% for EIMU.L and 0.08% for VWO.