EMHD.L vs. E127.L

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L).

EMHD.L and E127.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMHD.L is a passively managed fund by Invesco that tracks the performance of the FTSE Emerging High Dividend Low Volatility Net Tax Index. It was launched on May 27, 2016. E127.L is a passively managed fund by Amundi that tracks the performance of the MSCI EM NR USD. It was launched on Mar 24, 2023. Both EMHD.L and E127.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

EMHD.L vs. E127.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L). The values are adjusted to include any dividend payments, if applicable.

EMHD.L vs. E127.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMHD.L Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist	10.04%	26.93%	2.28%	10.88%	-17.26%	13.69%	25.15%
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	5.00%	35.30%	8.29%	8.93%	-19.31%	-2.18%	37.86%

Different Trading Currencies

EMHD.L is traded in USD, while E127.L is traded in GBP. To make them comparable, the E127.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMHD.L achieves a 10.04% return, which is significantly higher than E127.L's 5.00% return.

EMHD.L

• 1D: 2.31%
• 1M: -0.67%
• YTD: 10.04%
• 6M: 16.60%
• 1Y: 32.46%
• 3Y*: 15.78%
• 5Y*: 6.83%
• 10Y*: —

E127.L

• 1D: 3.97%
• 1M: -5.92%
• YTD: 5.00%
• 6M: 9.46%
• 1Y: 35.84%
• 3Y*: 17.63%
• 5Y*: 4.95%
• 10Y*: —

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

EMHD.L vs. E127.L - Expense Ratio Comparison

EMHD.L has a 0.49% expense ratio, which is higher than E127.L's 0.14% expense ratio.

EMHD.L

Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist

E127.L

Amundi MSCI Emerging Markets II UCITS ETF Dist

Return for Risk

EMHD.L vs. E127.L — Risk / Return Rank

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

EMHD.L

EMHD.L Risk / Return Rank: 93
EMHD.L Sharpe Ratio Rank: 94
EMHD.L Sortino Ratio Rank: 95
EMHD.L Omega Ratio Rank: 93
EMHD.L Calmar Ratio Rank: 93
EMHD.L Martin Ratio Rank: 94

E127.L

E127.L Risk / Return Rank: 87
E127.L Sharpe Ratio Rank: 88
E127.L Sortino Ratio Rank: 87
E127.L Omega Ratio Rank: 87
E127.L Calmar Ratio Rank: 87
E127.L Martin Ratio Rank: 84

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.

EMHD.L vs. E127.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.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.

	EMHD.L	E127.L	Difference
Sharpe ratio Return per unit of total volatility	2.36	1.90	+0.45
Sortino ratio Return per unit of downside risk	3.10	2.45	+0.65
Omega ratio Gain probability vs. loss probability	1.43	1.35	+0.08
Calmar ratio Return relative to maximum drawdown	3.73	2.78	+0.95
Martin ratio Return relative to average drawdown	15.21	10.47	+4.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMHD.L vs. E127.L - Sharpe Ratio Comparison

The current EMHD.L Sharpe Ratio is 2.36, which is comparable to the E127.L Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of EMHD.L and E127.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

	EMHD.L	E127.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	1.90	+0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.27	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.59	-0.13

Correlation

The correlation between EMHD.L and E127.L is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EMHD.L vs. E127.L - Dividend Comparison

EMHD.L's dividend yield for the trailing twelve months is around 4.81%, more than E127.L's 2.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMHD.L Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist	4.81%	5.17%	5.78%	5.99%	9.02%	6.08%	4.02%	5.04%	5.51%	4.92%	2.37%
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist	2.32%	2.47%	4.04%	4.40%	2.79%	2.25%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

EMHD.L vs. E127.L - Drawdown Comparison

The maximum EMHD.L drawdown since its inception was -38.32%, roughly equal to the maximum E127.L drawdown of -39.30%. Use the drawdown chart below to compare losses from any high point for EMHD.L and E127.L.

Drawdown Indicators

	EMHD.L	E127.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.32%	-26.68%	-11.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.77%	-10.82%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-30.43%	-22.89%	-7.54%
Current Drawdown Current decline from peak	-2.19%	-7.32%	+5.13%
Average Drawdown Average peak-to-trough decline	-9.88%	-10.59%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	3.02%	-0.87%

Volatility

EMHD.L vs. E127.L - Volatility Comparison

The current volatility for Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) is 4.93%, while Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) has a volatility of 8.16%. This indicates that EMHD.L experiences smaller price fluctuations and is considered to be less risky than E127.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMHD.L	E127.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	8.16%	-3.23%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	13.75%	-4.61%
Volatility (1Y) Calculated over the trailing 1-year period	13.74%	18.76%	-5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.03%	18.19%	-3.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.91%	18.41%	-1.50%