EMGU.L vs. IWDA.L

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) and iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L).

EMGU.L and IWDA.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMGU.L is a passively managed fund by iShares that tracks the performance of the MSCI EM NR USD. It was launched on Mar 5, 2018. IWDA.L is a passively managed fund by iShares that tracks the performance of the MSCI World Index. It was launched on Sep 25, 2009. Both EMGU.L and IWDA.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMGU.L vs. IWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) and iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L). The values are adjusted to include any dividend payments, if applicable.

EMGU.L vs. IWDA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF	5.52%	22.98%	9.19%	4.92%	-10.05%	0.64%	14.80%	3.98%
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	-0.71%	12.41%	21.19%	18.05%	-8.38%	23.34%	12.65%	0.38%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, EMGU.L achieves a 5.52% return, which is significantly higher than IWDA.L's -3.29% return.

EMGU.L

• 1D: 3.17%
• 1M: -5.53%
• YTD: 5.52%
• 6M: 9.52%
• 1Y: 29.83%
• 3Y*: 13.64%
• 5Y*: 5.54%
• 10Y*: —

IWDA.L

• 1D: 0.00%
• 1M: -5.19%
• YTD: -3.29%
• 6M: 0.18%
• 1Y: 14.46%
• 3Y*: 13.87%
• 5Y*: 10.89%
• 10Y*: 12.67%

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

EMGU.L vs. IWDA.L - Expense Ratio Comparison

EMGU.L has a 0.18% expense ratio, which is lower than IWDA.L's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

IWDA.L

iShares Core MSCI World UCITS ETF USD (Acc)

EMGU.L

iShares Core MSCI Emerging Markets IMI UCITS ETF

Return for Risk

EMGU.L vs. IWDA.L — Risk / Return Rank

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

EMGU.L

EMGU.L Risk / Return Rank: 84
EMGU.L Sharpe Ratio Rank: 86
EMGU.L Sortino Ratio Rank: 85
EMGU.L Omega Ratio Rank: 85
EMGU.L Calmar Ratio Rank: 85
EMGU.L Martin Ratio Rank: 81

IWDA.L

IWDA.L Risk / Return Rank: 75
IWDA.L Sharpe Ratio Rank: 72
IWDA.L Sortino Ratio Rank: 72
IWDA.L Omega Ratio Rank: 71
IWDA.L Calmar Ratio Rank: 80
IWDA.L Martin Ratio Rank: 82

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.

EMGU.L vs. IWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.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.

	EMGU.L	IWDA.L	Difference
Sharpe ratio Return per unit of total volatility	1.85	0.98	+0.87
Sortino ratio Return per unit of downside risk	2.37	1.39	+0.98
Omega ratio Gain probability vs. loss probability	1.36	1.20	+0.15
Calmar ratio Return relative to maximum drawdown	2.79	2.21	+0.59
Martin ratio Return relative to average drawdown	9.89	7.93	+1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMGU.L vs. IWDA.L - Sharpe Ratio Comparison

The current EMGU.L Sharpe Ratio is 1.85, which is higher than the IWDA.L Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of EMGU.L and IWDA.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMGU.L	IWDA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	0.98	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.75	-0.39
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.82	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.80	-0.36

Correlation

The correlation between EMGU.L and IWDA.L is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EMGU.L vs. IWDA.L - Dividend Comparison

EMGU.L's dividend yield for the trailing twelve months is around 1.90%, while IWDA.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020
EMGU.L iShares Core MSCI Emerging Markets IMI UCITS ETF	1.90%	1.93%	2.26%	2.51%	3.16%	1.86%	1.81%
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EMGU.L vs. IWDA.L - Drawdown Comparison

The maximum EMGU.L drawdown since its inception was -25.97%, roughly equal to the maximum IWDA.L drawdown of -26.18%. Use the drawdown chart below to compare losses from any high point for EMGU.L and IWDA.L.

Drawdown Indicators

	EMGU.L	IWDA.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.97%	-34.11%	+8.14%
Max Drawdown (1Y) Largest decline over 1 year	-10.86%	-11.56%	+0.70%
Max Drawdown (5Y) Largest decline over 5 years	-22.05%	-25.88%	+3.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.11%	—
Current Drawdown Current decline from peak	-7.57%	-5.16%	-2.41%
Average Drawdown Average peak-to-trough decline	-9.22%	-4.48%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	2.11%	+0.96%

Volatility

EMGU.L vs. IWDA.L - Volatility Comparison

iShares Core MSCI Emerging Markets IMI UCITS ETF (EMGU.L) has a higher volatility of 6.86% compared to iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) at 4.72%. This indicates that EMGU.L's price experiences larger fluctuations and is considered to be riskier than IWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMGU.L	IWDA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	4.72%	+2.14%
Volatility (6M) Calculated over the trailing 6-month period	12.09%	8.65%	+3.44%
Volatility (1Y) Calculated over the trailing 1-year period	16.08%	14.77%	+1.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.23%	14.43%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.39%	15.47%	+1.92%