EMIM.L vs. CSH2.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and CSH2.L (Lyxor Smart Overnight Return UCITS ETF C-GBP) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while CSH2.L is a Money Market fund actively managed by Amundi. EMIM.L is passively managed, while CSH2.L is actively managed. Over the past 10 years, EMIM.L returned 11.09%/yr vs 2.07%/yr for CSH2.L. At a correlation of -0.03, they often move in opposite directions. EMIM.L charges 0.18%/yr vs 0.07%/yr for CSH2.L.
Performance
EMIM.L vs. CSH2.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMIM.L achieves a 24.23% return, which is significantly higher than CSH2.L's 1.74% return. Over the past 10 years, EMIM.L has outperformed CSH2.L with an annualized return of 11.09%, while CSH2.L has yielded a comparatively lower 2.07% annualized return.
EMIM.L
- 1D
- -1.35%
- 1M
- 5.54%
- YTD
- 24.23%
- 6M
- 26.48%
- 1Y
- 50.85%
- 3Y*
- 20.15%
- 5Y*
- 8.76%
- 10Y*
- 11.09%
CSH2.L
- 1D
- 0.03%
- 1M
- 0.36%
- YTD
- 1.74%
- 6M
- 2.08%
- 1Y
- 4.38%
- 3Y*
- 5.01%
- 5Y*
- 3.66%
- 10Y*
- 2.07%
EMIM.L vs. CSH2.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
CSH2.L Lyxor Smart Overnight Return UCITS ETF C-GBP | 1.74% | 4.67% | 5.61% | 4.72% | 1.54% | 0.13% | 0.30% | 0.82% | 0.70% | 0.42% |
Correlation
The correlation between EMIM.L and CSH2.L is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 11, 2015 | -0.03 |
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Return for Risk
EMIM.L vs. CSH2.L — Risk / Return Rank
EMIM.L
CSH2.L
EMIM.L vs. CSH2.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) and Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.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.
| EMIM.L | CSH2.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.01 | ||
| Sortino ratioReturn per unit of downside risk | -11.15 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 4.37 | -2.80 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 27.66 | -23.03 |
| Martin ratioReturn relative to average drawdown | 16.57 | 159.04 | -142.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMIM.L | CSH2.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 8.05 | -5.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 6.49 | -5.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 4.68 | -4.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 4.62 | -4.13 |
Drawdowns
EMIM.L vs. CSH2.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, which is greater than CSH2.L's maximum drawdown of -0.37%. Use the drawdown chart below to compare losses from any high point for EMIM.L and CSH2.L.
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Drawdown Indicators
| EMIM.L | CSH2.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -0.37% | -31.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -0.16% | -10.76% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -0.29% | -15.27% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -0.29% | -21.69% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -0.37% | -26.09% |
Current DrawdownCurrent decline from peak | -2.39% | 0.00% | -2.39% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -0.00% | -8.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 0.03% | +3.03% |
Volatility
EMIM.L vs. CSH2.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a higher volatility of 7.03% compared to Lyxor Smart Overnight Return UCITS ETF C-GBP (CSH2.L) at 0.08%. This indicates that EMIM.L's price experiences larger fluctuations and is considered to be riskier than CSH2.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMIM.L | CSH2.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 0.08% | +6.95% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 0.25% | +13.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.67% | 0.54% | +16.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 0.56% | +15.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 0.44% | +17.37% |
EMIM.L vs. CSH2.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is higher than CSH2.L's 0.07% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EMIM.L vs. CSH2.L - Dividend Comparison
Neither EMIM.L nor CSH2.L has paid dividends to shareholders.
Frequently Asked Questions
EMIM.L and CSH2.L have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CSH2.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CSH2.L is cheaper with a 0.07% expense ratio, compared with 0.18% for EMIM.L.
EMIM.L is categorized as Emerging Markets Equities, while CSH2.L is Money Market. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.18% for EMIM.L and 0.07% for CSH2.L.
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