EMIM.L vs. FSUS.L

Last updated Jun 5, 2026

EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and FSUS.L (iShares Edge MSCI USA Multifactor UCITS) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while FSUS.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.35%/yr for FSUS.L.

Performance

EMIM.L vs. FSUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) and iShares Edge MSCI USA Multifactor UCITS (FSUS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

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%

FSUS.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMIM.L vs. FSUS.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%
FSUS.L iShares Edge MSCI USA Multifactor UCITS	0.00%	10.65%	24.39%	11.36%	-6.29%	26.79%	6.64%	21.37%	-5.92%	10.24%

Correlation

The correlation between EMIM.L and FSUS.L is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Sep 9, 2015	0.59

Over the past year, the correlation between EMIM.L and FSUS.L has dropped to 0.22 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

EMIM.L vs. FSUS.L — Risk / Return Rank

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

EMIM.L

EMIM.L Risk / Return Rank: 87
EMIM.L Sharpe Ratio Rank: 90
EMIM.L Sortino Ratio Rank: 87
EMIM.L Omega Ratio Rank: 90
EMIM.L Calmar Ratio Rank: 85
EMIM.L Martin Ratio Rank: 83

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.

EMIM.L vs. FSUS.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 iShares Edge MSCI USA Multifactor UCITS (FSUS.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	FSUS.L	Difference
Sharpe ratio: Return per unit of total volatility	3.04	—	—
Sortino ratio: Return per unit of downside risk	3.91	—	—
Omega ratio: Gain probability vs. loss probability	1.57	—	—
Calmar ratio: Return relative to maximum drawdown	4.63	—	—
Martin ratio: Return relative to average drawdown	16.57	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EMIM.L	FSUS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	—	—

Drawdowns

Drawdown Indicators

	EMIM.L	FSUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.70%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.46%	—	—
Current Drawdown Current decline from peak	-2.39%	—	—
Average Drawdown Average peak-to-trough decline	-8.71%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	—	—

Volatility

Volatility by Period

	EMIM.L	FSUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.67%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	—	—

EMIM.L vs. FSUS.L - Expense Ratio Comparison

EMIM.L has a 0.18% expense ratio, which is lower than FSUS.L's 0.35% expense ratio.

Dividends

EMIM.L vs. FSUS.L - Dividend Comparison

Neither EMIM.L nor FSUS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMIM.L and FSUS.L in my portfolio?

EMIM.L and FSUS.L have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMIM.L or FSUS.L?

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.

Which ETF is cheaper, EMIM.L or FSUS.L?

EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.35% for FSUS.L.

What is the main difference between EMIM.L and FSUS.L?

EMIM.L is categorized as Emerging Markets Equities, while FSUS.L is Large Cap Blend Equities. EMIM.L tracks MSCI EM NR USD, while FSUS.L tracks Russell 1000 TR USD. Their fees differ too: 0.18% for EMIM.L and 0.35% for FSUS.L.