EMIM.L vs. EMHD.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and EMHD.L (Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist) are both Emerging Markets Equities funds - EMIM.L tracks the MSCI EM NR USD while EMHD.L tracks the FTSE Emerging High Dividend Low Volatility Net Tax Index. Both are passively managed. Over the past 10 years, EMIM.L returned 11.09%/yr vs 7.93%/yr for EMHD.L. A 0.73 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.49%/yr for EMHD.L.
Performance
EMIM.L vs. EMHD.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while EMHD.L is traded in USD. To make them comparable, the EMHD.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMIM.L achieves a 24.23% return, which is significantly higher than EMHD.L's 8.56% return. Over the past 10 years, EMIM.L has outperformed EMHD.L with an annualized return of 11.09%, while EMHD.L has yielded a comparatively lower 7.93% 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%
EMHD.L
- 1D
- -0.03%
- 1M
- -3.08%
- YTD
- 8.56%
- 6M
- 6.60%
- 1Y
- 25.56%
- 3Y*
- 12.09%
- 5Y*
- 6.82%
- 10Y*
- 7.93%
EMIM.L vs. EMHD.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% |
EMHD.L Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist | 8.56% | 17.89% | 4.06% | 5.34% | -7.42% | 14.77% | -9.59% | 10.66% | -0.87% | 14.49% |
Correlation
The correlation between EMIM.L and EMHD.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2016 | 0.73 |
Over the past year, the correlation between EMIM.L and EMHD.L has dropped to 0.51 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.
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Return for Risk
EMIM.L vs. EMHD.L — Risk / Return Rank
EMIM.L
EMHD.L
EMIM.L vs. EMHD.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 Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.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 | EMHD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.37 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 4.39 | +0.25 |
| Martin ratioReturn relative to average drawdown | 16.57 | 12.40 | +4.17 |
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 | EMHD.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 2.12 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.48 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.48 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.50 | -0.01 |
Drawdowns
EMIM.L vs. EMHD.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, roughly equal to the maximum EMHD.L drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for EMIM.L and EMHD.L.
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Drawdown Indicators
| EMIM.L | EMHD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -32.35% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -5.78% | -5.14% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -12.07% | -3.49% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -18.33% | -3.65% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -32.35% | +5.89% |
Current DrawdownCurrent decline from peak | -2.39% | -3.87% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -6.99% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 2.05% | +1.01% |
Volatility
EMIM.L vs. EMHD.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a higher volatility of 7.03% compared to Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF Dist (EMHD.L) at 3.57%. This indicates that EMIM.L's price experiences larger fluctuations and is considered to be riskier than EMHD.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 | EMHD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 3.57% | +3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 9.04% | +5.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.67% | 11.95% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 14.16% | +1.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 16.69% | +1.12% |
EMIM.L vs. EMHD.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than EMHD.L's 0.49% expense ratio.
Dividends
EMIM.L vs. EMHD.L - Dividend Comparison
EMIM.L has not paid dividends to shareholders, while EMHD.L's dividend yield for the trailing twelve months is around 4.89%.
| 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 | 4.89% | 5.17% | 5.78% | 5.99% | 9.02% | 6.08% | 4.02% | 5.04% | 5.51% | 4.92% | 2.37% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (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
EMIM.L and EMHD.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMIM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.49% for EMHD.L.
EMIM.L tracks MSCI EM NR USD, while EMHD.L tracks FTSE Emerging High Dividend Low Volatility Net Tax Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for EMIM.L and 0.49% for EMHD.L.
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