PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EMAS.L vs. ASDV.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMAS.L vs. ASDV.L

Last updated Jun 4, 2026

EMAS.L (SPDR MSCI EM Asia UCITS ETF) and ASDV.L (SPDR S&P Pan Asia Dividend Aristocrats UCITS) are both Asia Pacific Equities funds from State Street - EMAS.L tracks the MSCI AC Asia Ex Japan NR USD while ASDV.L tracks the MSCI AC Asia Pacific NR USD. Both are passively managed. Over the past 10 years, EMAS.L returned 15.67%/yr vs 7.75%/yr for ASDV.L. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.55% expense ratio.

Performance

EMAS.L vs. ASDV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI EM Asia UCITS ETF (EMAS.L) and SPDR S&P Pan Asia Dividend Aristocrats UCITS (ASDV.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

EMAS.L is traded in GBP, while ASDV.L is traded in USD. To make them comparable, the ASDV.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMAS.L achieves a 81.21% return, which is significantly higher than ASDV.L's 4.20% return. Over the past 10 years, EMAS.L has outperformed ASDV.L with an annualized return of 15.67%, while ASDV.L has yielded a comparatively lower 7.75% annualized return.

EMAS.L

1D
38.70%
1M
51.83%
YTD
81.21%
6M
83.22%
1Y
120.08%
3Y*
35.88%
5Y*
15.70%
10Y*
15.67%

ASDV.L

1D
-0.71%
1M
0.40%
YTD
4.20%
6M
2.66%
1Y
13.89%
3Y*
10.64%
5Y*
5.34%
10Y*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMAS.L vs. ASDV.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMAS.L
SPDR MSCI EM Asia UCITS ETF		81.21%22.99%12.85%0.63%-12.26%-4.94%23.72%13.21%-9.79%29.84%
ASDV.L
SPDR S&P Pan Asia Dividend Aristocrats UCITS		4.20%14.49%6.67%9.70%-5.57%3.51%-2.79%16.05%-3.63%18.62%

Correlation

The correlation between EMAS.L and ASDV.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.44

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

0.62

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

0.62

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

0.69

Correlation (All Time)
Calculated using the full available price history since Jun 25, 2013

0.73

Over the past year, the correlation between EMAS.L and ASDV.L has dropped to 0.44 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

EMAS.L vs. ASDV.L - Sectors Allocation Comparison

Sectors
EMAS.L
ASDV.L

Technology

44.9%
6.7%

Financial Services

14.9%
33.0%

Consumer Cyclical

10.9%
6.7%

Industrials

7.5%
7.3%

Communication Services

7.1%
6.2%

Basic Materials

3.9%
2.8%

Healthcare

3.3%
8.7%

Energy

2.9%

-

Consumer Defensive

2.5%
9.2%

Utilities

1.5%
14.9%

Real Estate

0.7%
4.6%

Technology

EMAS.L
44.9%
ASDV.L
6.7%

Financial Services

EMAS.L
14.9%
ASDV.L
33.0%

Consumer Cyclical

EMAS.L
10.9%
ASDV.L
6.7%

Industrials

EMAS.L
7.5%
ASDV.L
7.3%

Communication Services

EMAS.L
7.1%
ASDV.L
6.2%

Basic Materials

EMAS.L
3.9%
ASDV.L
2.8%

Healthcare

EMAS.L
3.3%
ASDV.L
8.7%

Energy

EMAS.L
2.9%
ASDV.L

-

Consumer Defensive

EMAS.L
2.5%
ASDV.L
9.2%

Utilities

EMAS.L
1.5%
ASDV.L
14.9%

Real Estate

EMAS.L
0.7%
ASDV.L
4.6%

Compare stocks, funds, or ETFs

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

SPDR MSCI EM Asia UCITS ETF

SPDR S&P Pan Asia Dividend Aristocrats UCITS

Often compared with EMAS.L:
EMAS.L vs. SPYEMAS.L vs. ASEAEMAS.L vs. SWDA.LEMAS.L vs. VFEM.LEMAS.L vs. VWCE.DEEMAS.L vs. IS3N.DEEMAS.L vs. C300.L
Often compared with ASDV.L:
ASDV.L vs. GGRG.LASDV.L vs. KLIPASDV.L vs. IDAP.LASDV.L vs. V3PL.DEASDV.L vs. VHYD.LASDV.L vs. QQQASDV.L vs. 5MVL.DE

Return for Risk

EMAS.L vs. ASDV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMAS.L
EMAS.L Risk / Return Rank: 9595
Overall Rank
EMAS.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
EMAS.L Sortino Ratio Rank: 9898
Sortino Ratio Rank
EMAS.L Omega Ratio Rank: 9898
Omega Ratio Rank
EMAS.L Calmar Ratio Rank: 9797
Calmar Ratio Rank
EMAS.L Martin Ratio Rank: 9696
Martin Ratio Rank
ASDV.L
ASDV.L Risk / Return Rank: 3232
Overall Rank
ASDV.L Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
ASDV.L Sortino Ratio Rank: 3030
Sortino Ratio Rank
ASDV.L Omega Ratio Rank: 3030
Omega Ratio Rank
ASDV.L Calmar Ratio Rank: 3535
Calmar Ratio Rank
ASDV.L Martin Ratio Rank: 3131
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.

EMAS.L vs. ASDV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EM Asia UCITS ETF (EMAS.L) and SPDR S&P Pan Asia Dividend Aristocrats UCITS (ASDV.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.

EMAS.LASDV.LDifference
Sharpe ratioReturn per unit of total volatility
2.85
1.29

+1.56

Sortino ratioReturn per unit of downside risk
7.46
1.79

+5.68

Omega ratioGain probability vs. loss probability

2.09

1.24

+0.85

Calmar ratioReturn relative to maximum drawdown

10.86

2.08

+8.79

Martin ratioReturn relative to average drawdown

35.47

5.20

+30.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMAS.L vs. ASDV.L - Sharpe Ratio Comparison

The current EMAS.L Sharpe Ratio is 2.85, which is higher than the ASDV.L Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of EMAS.L and ASDV.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.

Loading charts...

Sharpe Ratios by Period

EMAS.LASDV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.85

1.29

+1.56

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.63

0.40

+0.23

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.71

0.52

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.49

+0.09

Drawdowns

EMAS.L vs. ASDV.L - Drawdown Comparison

The maximum EMAS.L drawdown since its inception was -34.79%, which is greater than ASDV.L's maximum drawdown of -27.03%. Use the drawdown chart below to compare losses from any high point for EMAS.L and ASDV.L.

Loading charts...

Drawdown Indicators

EMAS.LASDV.LDifference

Max Drawdown

Largest peak-to-trough decline

-34.79%

-27.03%

-7.76%

Max Drawdown (1Y)

Largest decline over 1 year

-11.14%

-6.67%

-4.47%

Max Drawdown (3Y)

Largest decline over 3 years

-17.88%

-10.42%

-7.46%

Max Drawdown (5Y)

Largest decline over 5 years

-29.16%

-20.03%

-9.13%

Max Drawdown (10Y)

Largest decline over 10 years

-34.79%

-25.32%

-9.47%

Current Drawdown

Current decline from peak

0.00%

-3.91%

+3.91%

Average Drawdown

Average peak-to-trough decline

-11.69%

-5.60%

-6.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

2.66%

+0.76%

Volatility

EMAS.L vs. ASDV.L - Volatility Comparison

SPDR MSCI EM Asia UCITS ETF (EMAS.L) has a higher volatility of 33.13% compared to SPDR S&P Pan Asia Dividend Aristocrats UCITS (ASDV.L) at 3.39%. This indicates that EMAS.L's price experiences larger fluctuations and is considered to be riskier than ASDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EMAS.LASDV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

33.13%

3.39%

+29.74%

Volatility (6M)

Calculated over the trailing 6-month period

35.88%

8.77%

+27.11%

Volatility (1Y)

Calculated over the trailing 1-year period

42.40%

10.75%

+31.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

24.78%

13.30%

+11.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.18%

14.96%

+7.22%

EMAS.L vs. ASDV.L - Expense Ratio Comparison

Both EMAS.L and ASDV.L have an expense ratio of 0.55%.

Dividends

EMAS.L vs. ASDV.L - Dividend Comparison

EMAS.L has not paid dividends to shareholders, while ASDV.L's dividend yield for the trailing twelve months is around 2.87%.

PositionTTM20252024202320222021202020192018201720162015
ASDV.L
SPDR S&P Pan Asia Dividend Aristocrats UCITS		2.87%2.85%3.11%2.89%3.63%2.98%2.82%2.65%2.52%1.70%2.37%3.24%
EMAS.L
SPDR MSCI EM Asia UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

EMAS.L and ASDV.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

EMAS.L and ASDV.L have the same expense ratio: 0.55% per year.

EMAS.L tracks MSCI AC Asia Ex Japan NR USD, while ASDV.L tracks MSCI AC Asia Pacific NR USD.

Portfolio Optimizer

Find the right allocation for EMAS.L and ASDV.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer