EMIM.L vs. IUSN.DE
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and IUSN.DE (iShares MSCI World Small Cap UCITS ETF) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while IUSN.DE is a Global Equities fund tracking the MSCI World Small Cap. Both are passively managed. Over the past 5 years, EMIM.L returned 8.57%/yr vs 8.08%/yr for IUSN.DE. A 0.60 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.35%/yr for IUSN.DE.
Performance
EMIM.L vs. IUSN.DE - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while IUSN.DE is traded in EUR. To make them comparable, the IUSN.DE 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 22.83% return, which is significantly higher than IUSN.DE's 14.82% return.
EMIM.L
- 1D
- 2.84%
- 1M
- 3.05%
- YTD
- 22.83%
- 6M
- 25.36%
- 1Y
- 46.92%
- 3Y*
- 19.09%
- 5Y*
- 8.57%
- 10Y*
- 11.13%
IUSN.DE
- 1D
- 2.36%
- 1M
- 2.50%
- YTD
- 14.82%
- 6M
- 14.36%
- 1Y
- 34.04%
- 3Y*
- 14.53%
- 5Y*
- 8.08%
- 10Y*
- —
EMIM.L vs. IUSN.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 22.83% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -6.40% |
IUSN.DE iShares MSCI World Small Cap UCITS ETF | 14.82% | 13.36% | 8.23% | 10.86% | -9.04% | 16.45% | 11.18% | 22.45% | -5.19% |
Correlation
The correlation between EMIM.L and IUSN.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Apr 25, 2018 | 0.60 |
The correlation between EMIM.L and IUSN.DE has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
EMIM.L vs. IUSN.DE — Risk / Return Rank
EMIM.L
IUSN.DE
EMIM.L vs. IUSN.DE - 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 MSCI World Small Cap UCITS ETF (IUSN.DE). 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 | IUSN.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.45 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 4.20 | -0.11 |
| Martin ratioReturn relative to average drawdown | 14.02 | 16.11 | -2.09 |
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Drawdowns
EMIM.L vs. IUSN.DE - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, smaller than the maximum IUSN.DE drawdown of -33.60%. Use the drawdown chart below to compare losses from any high point for EMIM.L and IUSN.DE.
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Drawdown Indicators
| EMIM.L | IUSN.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -33.60% | +1.90% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -7.95% | -2.97% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -22.57% | +7.01% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -22.57% | +0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | 0.00% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -6.48% | -2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 2.08% | +1.12% |
Volatility
EMIM.L vs. IUSN.DE - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a higher volatility of 7.38% compared to iShares MSCI World Small Cap UCITS ETF (IUSN.DE) at 3.98%. This indicates that EMIM.L's price experiences larger fluctuations and is considered to be riskier than IUSN.DE 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 | IUSN.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 3.98% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 14.94% | 9.75% | +5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.33% | 13.39% | +3.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 16.01% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 17.65% | +0.21% |
EMIM.L vs. IUSN.DE - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than IUSN.DE's 0.35% expense ratio.
Dividends
EMIM.L vs. IUSN.DE - Dividend Comparison
Neither EMIM.L nor IUSN.DE has paid dividends to shareholders.
Frequently Asked Questions
EMIM.L and IUSN.DE have a correlation of 0.58, 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 0.35% for IUSN.DE.
EMIM.L is categorized as Emerging Markets Equities, while IUSN.DE is Global Equities. EMIM.L tracks MSCI EM NR USD, while IUSN.DE tracks MSCI World Small Cap. Their fees differ too: 0.18% for EMIM.L and 0.35% for IUSN.DE.
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