EMES.L vs. IWDA.L
EMES.L (iShares J.P. Morgan ESG USD EM Bond UCITS ETF) and IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - EMES.L is a Emerging Markets Bonds fund tracking the JPM EMBI Global Diversified TR USD, while IWDA.L is a Global Equities fund tracking the MSCI World Index (Net). Both are passively managed. Over the past 5 years, EMES.L returned 1.35%/yr vs 11.86%/yr for IWDA.L. A 0.54 correlation means they provide meaningful diversification when combined. EMES.L charges 0.45%/yr vs 0.20%/yr for IWDA.L.
Performance
EMES.L vs. IWDA.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMES.L achieves a 1.50% return, which is significantly lower than IWDA.L's 9.83% return.
EMES.L
- 1D
- 0.06%
- 1M
- 1.02%
- YTD
- 1.50%
- 6M
- 2.10%
- 1Y
- 10.68%
- 3Y*
- 9.03%
- 5Y*
- 1.35%
- 10Y*
- —
IWDA.L
- 1D
- 0.10%
- 1M
- 4.07%
- YTD
- 9.83%
- 6M
- 10.98%
- 1Y
- 25.98%
- 3Y*
- 20.77%
- 5Y*
- 11.86%
- 10Y*
- 13.07%
EMES.L vs. IWDA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 1.50% | 13.10% | 5.45% | 9.57% | -18.82% | -2.59% | 5.41% | 15.66% | -0.48% |
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 9.83% | 21.03% | 19.11% | 24.27% | -18.11% | 22.19% | 16.06% | 27.13% | -13.80% |
Correlation
The correlation between EMES.L and IWDA.L is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 27, 2018 | 0.54 |
The correlation between EMES.L and IWDA.L shifts across timeframes, from 0.49 (3 years) to 0.61 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMES.L vs. IWDA.L — Risk / Return Rank
EMES.L
IWDA.L
EMES.L vs. IWDA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) and iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.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.
| EMES.L | IWDA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.11 | -0.74 |
| Martin ratioReturn relative to average drawdown | 9.84 | 13.16 | -3.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMES.L | IWDA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.95 | 2.17 | -0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.76 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.79 | -0.45 |
Drawdowns
EMES.L vs. IWDA.L - Drawdown Comparison
The maximum EMES.L drawdown since its inception was -28.84%, smaller than the maximum IWDA.L drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for EMES.L and IWDA.L.
Loading charts...
Drawdown Indicators
| EMES.L | IWDA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.84% | -34.11% | +5.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.48% | -8.31% | +3.83% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -16.94% | +9.72% |
Max Drawdown (5Y)Largest decline over 5 years | -28.84% | -25.88% | -2.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.11% | — |
Current DrawdownCurrent decline from peak | -0.35% | -0.43% | +0.08% |
Average DrawdownAverage peak-to-trough decline | -7.85% | -4.44% | -3.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.08% | 1.97% | -0.89% |
Volatility
EMES.L vs. IWDA.L - Volatility Comparison
The current volatility for iShares J.P. Morgan ESG USD EM Bond UCITS ETF (EMES.L) is 2.26%, while iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) has a volatility of 3.40%. This indicates that EMES.L experiences smaller price fluctuations and is considered to be less risky than IWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMES.L | IWDA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.26% | 3.40% | -1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 4.55% | 9.19% | -4.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.47% | 11.93% | -6.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.28% | 15.68% | -7.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.24% | 15.91% | -6.67% |
EMES.L vs. IWDA.L - Expense Ratio Comparison
EMES.L has a 0.45% expense ratio, which is higher than IWDA.L's 0.20% expense ratio.
Dividends
EMES.L vs. IWDA.L - Dividend Comparison
EMES.L's dividend yield for the trailing twelve months is around 5.78%, while IWDA.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EMES.L iShares J.P. Morgan ESG USD EM Bond UCITS ETF | 5.78% | 5.78% | 5.45% | 5.41% | 5.03% | 3.48% | 3.49% | 4.60% | 0.50% |
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMES.L and IWDA.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWDA.L is cheaper with a 0.20% expense ratio, compared with 0.45% for EMES.L.
EMES.L is categorized as Emerging Markets Bonds, while IWDA.L is Global Equities. EMES.L tracks JPM EMBI Global Diversified TR USD, while IWDA.L tracks MSCI World Index (Net). Their fees differ too: 0.45% for EMES.L and 0.20% for IWDA.L.
Find the right allocation for EMES.L and IWDA.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