EMIF vs. IVV

Last updated Jun 23, 2026

EMIF (iShares Emerging Markets Infrastructure ETF) and IVV (iShares Core S&P 500 ETF) are both exchange-traded funds - EMIF is a Emerging Markets Equities fund tracking the S&P Emerging Markets Infrastructure Index, while IVV is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EMIF returned 2.46%/yr vs 15.75%/yr for IVV. A 0.56 correlation means they provide meaningful diversification when combined. EMIF charges 0.75%/yr vs 0.03%/yr for IVV.

Performance

EMIF vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Infrastructure ETF (EMIF) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMIF achieves a 1.64% return, which is significantly lower than IVV's 9.76% return. Over the past 10 years, EMIF has underperformed IVV with an annualized return of 2.46%, while IVV has yielded a comparatively higher 15.75% annualized return.

EMIF

• 1D: -0.02%
• 1M: -1.61%
• YTD: 1.64%
• 6M: 1.44%
• 1Y: 22.10%
• 3Y*: 11.82%
• 5Y*: 5.01%
• 10Y*: 2.46%

IVV

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.76%
• 6M: 9.30%
• 1Y: 26.83%
• 3Y*: 21.37%
• 5Y*: 13.58%
• 10Y*: 15.75%

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

EMIF vs. IVV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMIF iShares Emerging Markets Infrastructure ETF	1.64%	33.90%	1.21%	5.67%	-12.59%	3.76%	-19.98%	16.36%	-13.70%	20.70%
IVV iShares Core S&P 500 ETF	9.76%	17.85%	24.93%	26.31%	-18.16%	28.76%	18.40%	31.07%	-4.49%	21.75%

Correlation

The correlation between EMIF and IVV is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since Jun 19, 2009	0.56

The correlation between EMIF and IVV shifts across timeframes, from 0.42 (5 years) to 0.56 (all time), reflecting how their relationship changes across market environments.

EMIF vs. IVV - Sectors Allocation Comparison

Sectors	EMIF	IVV
Industrials	42.0%	7.8%
Utilities	38.7%	2.1%
Energy	19.3%	3.1%
Basic Materials	-	1.7%
Communication Services	-	10.6%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Financial Services	-	11.1%
Healthcare	-	8.3%
Real Estate	-	1.8%
Technology	-	39.0%

Return for Risk

EMIF vs. IVV — Risk / Return Rank

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

EMIF

EMIF Risk / Return Rank: 36
EMIF Sharpe Ratio Rank: 40
EMIF Sortino Ratio Rank: 40
EMIF Omega Ratio Rank: 40
EMIF Calmar Ratio Rank: 30
EMIF Martin Ratio Rank: 31

IVV

IVV Risk / Return Rank: 69
IVV Sharpe Ratio Rank: 70
IVV Sortino Ratio Rank: 67
IVV Omega Ratio Rank: 69
IVV Calmar Ratio Rank: 63
IVV Martin Ratio Rank: 74

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.

EMIF vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Infrastructure ETF (EMIF) and iShares Core S&P 500 ETF (IVV). 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.

	EMIF	IVV	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.18	-0.79
Sortino ratio: Return per unit of downside risk	2.01	2.93	-0.92
Omega ratio: Gain probability vs. loss probability	1.26	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	1.43	3.03	-1.61
Martin ratio: Return relative to average drawdown	4.28	13.61	-9.34

EMIF vs. IVV - Sharpe Ratio Comparison

The current EMIF Sharpe Ratio is 1.39, which is lower than the IVV Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of EMIF and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMIF vs. IVV - Drawdown Comparison

The maximum EMIF drawdown since its inception was -48.02%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for EMIF and IVV.

Drawdown Indicators

	EMIF	IVV	Difference
Max Drawdown Largest peak-to-trough decline	-48.02%	-55.25%	+7.23%
Max Drawdown (1Y) Largest decline over 1 year	-15.57%	-8.89%	-6.68%
Max Drawdown (3Y) Largest decline over 3 years	-16.70%	-18.75%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-23.29%	-24.53%	+1.24%
Max Drawdown (10Y) Largest decline over 10 years	-48.02%	-33.90%	-14.12%
Current Drawdown Current decline from peak	-12.54%	-1.74%	-10.80%
Average Drawdown Average peak-to-trough decline	-15.90%	-10.76%	-5.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	1.98%	+3.20%

Volatility

EMIF vs. IVV - Volatility Comparison

iShares Emerging Markets Infrastructure ETF (EMIF) has a higher volatility of 5.64% compared to iShares Core S&P 500 ETF (IVV) at 4.67%. This indicates that EMIF's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMIF	IVV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.64%	4.67%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	13.47%	9.75%	+3.72%
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	12.41%	+3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	16.97%	+2.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.62%	18.10%	+2.52%

EMIF vs. IVV - Expense Ratio Comparison

EMIF has a 0.75% expense ratio, which is higher than IVV's 0.03% expense ratio.

Dividends

EMIF vs. IVV - Dividend Comparison

EMIF's dividend yield for the trailing twelve months is around 4.16%, more than IVV's 1.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMIF iShares Emerging Markets Infrastructure ETF	4.16%	4.96%	4.12%	2.64%	3.08%	3.94%	2.54%	2.07%	2.64%	2.58%	3.16%	2.07%
IVV iShares Core S&P 500 ETF	1.09%	1.17%	1.30%	1.44%	1.66%	1.20%	1.57%	1.85%	2.21%	1.75%	2.01%	2.27%

Frequently Asked Questions

Can I hold both EMIF and IVV in my portfolio?

EMIF and IVV have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMIF or IVV?

EMIF has higher volatility (5.64%) compared to IVV (4.67%). In terms of maximum drawdown, EMIF dropped -48.02% vs IVV's -55.25%.

Which ETF is better, EMIF or IVV?

On 10-year performance, IVV leads with 15.75% vs 2.46% for EMIF. On fees, IVV is cheaper at 0.03% per year. On volatility, IVV has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMIF or IVV?

Over the 10-year period, IVV has performed better with a 15.75% return vs 2.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMIF or IVV?

IVV is cheaper with a 0.03% expense ratio, compared with 0.75% for EMIF.

Which ETF pays a higher dividend yield, EMIF or IVV?

EMIF has the higher dividend yield at 4.16%, compared with 1.09% for IVV.

What is the main difference between EMIF and IVV?

EMIF is categorized as Emerging Markets Equities, while IVV is S&P 500. EMIF tracks S&P Emerging Markets Infrastructure Index, while IVV tracks S&P 500 Index. Their fees differ too: 0.75% for EMIF and 0.03% for IVV.

Which has better risk-adjusted returns?

IVV currently has the higher Sharpe Ratio (2.18 vs 1.39), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.