EMHD.L vs. MKUW.L
EMHD.L (Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from Invesco - EMHD.L tracks the FTSE Emerging High Dividend Low Volatility Net Tax Index while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, EMHD.L returned 6.51%/yr vs 7.19%/yr for MKUW.L. At a 0.16 correlation, their price movements are largely independent. EMHD.L charges 0.49%/yr vs 0.50%/yr for MKUW.L.
Performance
EMHD.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMHD.L achieves a 9.21% return, which is significantly higher than MKUW.L's 0.15% return.
EMHD.L
- 1D
- 0.34%
- 1M
- 1.35%
- 6M
- 6.79%
- YTD
- 9.21%
- 1Y
- 21.06%
- 3Y*
- 14.46%
- 5Y*
- 6.51%
- 10Y*
- 6.47%
MKUW.L
- 1D
- -0.06%
- 1M
- -2.04%
- 6M
- 1.18%
- YTD
- 0.15%
- 1Y
- 3.43%
- 3Y*
- 7.89%
- 5Y*
- 7.19%
- 10Y*
- —
EMHD.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMHD.L Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist | 9.21% | 26.92% | 2.28% | 10.90% | -17.26% | 13.67% | -6.85% | 7.04% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -9.88% | 10.35% |
Correlation
The correlation between EMHD.L and MKUW.L is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.16 |
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Return for Risk
EMHD.L vs. MKUW.L — Risk / Return Rank
EMHD.L
MKUW.L
EMHD.L vs. MKUW.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 Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMHD.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.32 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.07 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 0.46 | +2.02 |
| Martin ratioReturn relative to average drawdown | 6.79 | 1.05 | +5.74 |
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Drawdowns
EMHD.L vs. MKUW.L - Drawdown Comparison
The maximum EMHD.L drawdown since its inception was -38.32%, roughly equal to the maximum MKUW.L drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for EMHD.L and MKUW.L.
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Drawdown Indicators
| EMHD.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.32% | -37.76% | -0.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -7.47% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -14.16% | +0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -30.44% | -25.13% | -5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -38.32% | — | — |
Current DrawdownCurrent decline from peak | -3.94% | -3.60% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -9.73% | -9.42% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.26% | -0.17% |
Volatility
EMHD.L vs. MKUW.L - Volatility Comparison
Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) has a higher volatility of 3.61% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 1.71%. This indicates that EMHD.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMHD.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 1.71% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.71% | 8.01% | +1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.68% | 10.26% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.09% | 12.76% | +2.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.60% | 16.49% | +0.11% |
EMHD.L vs. MKUW.L - Expense Ratio Comparison
EMHD.L has a 0.49% expense ratio, which is lower than MKUW.L's 0.50% expense ratio.
Dividends
EMHD.L vs. MKUW.L - Dividend Comparison
EMHD.L's dividend yield for the trailing twelve months is around 4.81%, while MKUW.L has not paid dividends to shareholders.
| Position | 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% | 5.77% | 5.99% | 9.02% | 6.08% | 4.02% | 5.04% | 5.51% | 4.92% | 2.37% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 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
EMHD.L and MKUW.L have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMHD.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMHD.L is cheaper with a 0.49% expense ratio, compared with 0.50% for MKUW.L.
EMHD.L tracks FTSE Emerging High Dividend Low Volatility Net Tax Index, while MKUW.L tracks MSCI Kuwait 20/35 Index. Their fees differ too: 0.49% for EMHD.L and 0.50% for MKUW.L.
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