EMIM.L vs. FEMD.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and FEMD.L (Fidelity Emerging Markets Quality Income UCITS ETF) are both Emerging Markets Equities funds - EMIM.L tracks the MSCI Emerging Markets Investable Market Index (IMI) while FEMD.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, EMIM.L returned 8.53%/yr vs 9.31%/yr for FEMD.L. Their correlation of 0.90 suggests significant overlap in exposure. EMIM.L charges 0.18%/yr vs 0.50%/yr for FEMD.L.
Performance
EMIM.L vs. FEMD.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while FEMD.L is traded in GBP. To make them comparable, the FEMD.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 25.00% return, which is significantly lower than FEMD.L's 34.68% return.
EMIM.L
- 1D
- 0.33%
- 1M
- 1.67%
- YTD
- 25.00%
- 6M
- 26.54%
- 1Y
- 46.29%
- 3Y*
- 21.10%
- 5Y*
- 8.53%
- 10Y*
- 10.76%
FEMD.L
- 1D
- 0.00%
- 1M
- -0.16%
- YTD
- 34.68%
- 6M
- 35.25%
- 1Y
- 52.42%
- 3Y*
- 23.76%
- 5Y*
- 9.31%
- 10Y*
- —
EMIM.L vs. FEMD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 25.00% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 4.11% |
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF | 34.68% | 20.69% | 6.70% | 10.14% | -15.65% | 7.02% | 9.84% | 2.09% |
Correlation
The correlation between EMIM.L and FEMD.L is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2019 | 0.90 |
The correlation between EMIM.L and FEMD.L has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.
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Return for Risk
EMIM.L vs. FEMD.L — Risk / Return Rank
EMIM.L
FEMD.L
EMIM.L vs. FEMD.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 Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.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.
| EMIM.L | FEMD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.57 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 5.92 | -1.70 |
| Martin ratioReturn relative to average drawdown | 14.30 | 18.17 | -3.86 |
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Drawdowns
EMIM.L vs. FEMD.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, which is greater than FEMD.L's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for EMIM.L and FEMD.L.
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Drawdown Indicators
| EMIM.L | FEMD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -27.56% | -4.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -8.82% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -14.37% | -1.19% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -25.37% | +3.39% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -4.02% | -5.43% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -8.24% | -0.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.88% | +0.35% |
Volatility
EMIM.L vs. FEMD.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) and Fidelity Emerging Markets Quality Income UCITS ETF (FEMD.L) have volatilities of 8.53% and 8.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMIM.L | FEMD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 8.14% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 15.44% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.08% | 17.40% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 15.38% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 17.84% | +0.08% |
EMIM.L vs. FEMD.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than FEMD.L's 0.50% expense ratio.
Dividends
EMIM.L vs. FEMD.L - Dividend Comparison
EMIM.L has not paid dividends to shareholders, while FEMD.L's dividend yield for the trailing twelve months is around 2.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
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% |
FEMD.L Fidelity Emerging Markets Quality Income UCITS ETF | 2.73% | 3.48% | 3.75% | 3.69% | 4.00% | 3.26% | 2.84% | 0.36% |
Frequently Asked Questions
EMIM.L and FEMD.L have a correlation of 0.84, 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 0.50% for FEMD.L.
EMIM.L tracks MSCI Emerging Markets Investable Market Index (IMI), while FEMD.L tracks MSCI EM NR USD. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.18% for EMIM.L and 0.50% for FEMD.L.
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