EMIM.L vs. IWMO.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and IWMO.L (iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc)) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while IWMO.L is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, EMIM.L returned 11.13%/yr vs 16.41%/yr for IWMO.L. A 0.62 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.25%/yr for IWMO.L.
Performance
EMIM.L vs. IWMO.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while IWMO.L is traded in USD. To make them comparable, the IWMO.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with EMIM.L having a 22.83% return and IWMO.L slightly higher at 23.07%. Over the past 10 years, EMIM.L has underperformed IWMO.L with an annualized return of 11.13%, while IWMO.L has yielded a comparatively higher 16.41% annualized return.
EMIM.L
- 1D
- 2.84%
- 1M
- 1.03%
- YTD
- 22.83%
- 6M
- 25.36%
- 1Y
- 46.92%
- 3Y*
- 19.09%
- 5Y*
- 8.57%
- 10Y*
- 11.13%
IWMO.L
- 1D
- 4.00%
- 1M
- 3.38%
- YTD
- 23.07%
- 6M
- 24.36%
- 1Y
- 37.15%
- 3Y*
- 26.34%
- 5Y*
- 14.92%
- 10Y*
- 16.41%
EMIM.L vs. IWMO.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) | 22.83% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
IWMO.L iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) | 23.07% | 12.41% | 32.77% | 6.36% | -8.22% | 15.21% | 24.80% | 22.30% | 1.85% | 20.67% |
Correlation
The correlation between EMIM.L and IWMO.L is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Oct 6, 2014 | 0.62 |
The correlation between EMIM.L and IWMO.L shifts across timeframes, from 0.53 (3 years) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMIM.L vs. IWMO.L — Risk / Return Rank
EMIM.L
IWMO.L
EMIM.L vs. IWMO.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 World Momentum Factor UCITS ETF USD (Acc) (IWMO.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 | IWMO.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.38 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 4.00 | +0.09 |
| Martin ratioReturn relative to average drawdown | 14.02 | 15.31 | -1.30 |
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Drawdowns
EMIM.L vs. IWMO.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, which is greater than IWMO.L's maximum drawdown of -23.32%. Use the drawdown chart below to compare losses from any high point for EMIM.L and IWMO.L.
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Drawdown Indicators
| EMIM.L | IWMO.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -23.32% | -8.38% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -9.26% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -20.20% | +4.64% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -20.31% | -1.67% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -23.32% | -3.14% |
Current DrawdownCurrent decline from peak | -3.48% | -0.22% | -3.26% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -4.91% | -3.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 2.42% | +0.78% |
Volatility
EMIM.L vs. IWMO.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) and iShares Edge MSCI World Momentum Factor UCITS ETF USD (Acc) (IWMO.L) have volatilities of 7.38% and 7.34%, 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 | IWMO.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 7.34% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.94% | 15.67% | -0.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.33% | 18.02% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 17.55% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 17.98% | -0.12% |
EMIM.L vs. IWMO.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than IWMO.L's 0.25% expense ratio. Despite the difference, 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. IWMO.L - Dividend Comparison
Neither EMIM.L nor IWMO.L has paid dividends to shareholders.
Frequently Asked Questions
EMIM.L and IWMO.L have a correlation of 0.63, 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 0.25% for IWMO.L.
EMIM.L is categorized as Emerging Markets Equities, while IWMO.L is Momentum. EMIM.L tracks MSCI EM NR USD, while IWMO.L tracks MSCI World Momentum Index. Their fees differ too: 0.18% for EMIM.L and 0.25% for IWMO.L.
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