EMIM.L vs. PRAM.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and PRAM.L (Amundi Prime Emerging Markets UCITS ETF DR (C)) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 3 years, EMIM.L returned 20.15%/yr vs 20.13%/yr for PRAM.L. A 0.68 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.10%/yr for PRAM.L.
Performance
EMIM.L vs. PRAM.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while PRAM.L is traded in USD. To make them comparable, the PRAM.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 24.23% return and PRAM.L slightly higher at 24.77%.
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%
PRAM.L
- 1D
- -1.56%
- 1M
- 5.71%
- YTD
- 24.77%
- 6M
- 26.35%
- 1Y
- 51.29%
- 3Y*
- 20.13%
- 5Y*
- —
- 10Y*
- —
EMIM.L vs. PRAM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.49% |
PRAM.L Amundi Prime Emerging Markets UCITS ETF DR (C) | 24.77% | 23.16% | 9.01% | 3.99% | -8.64% | 0.00% |
Correlation
The correlation between EMIM.L and PRAM.L is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2021 | 0.68 |
Over the past year, EMIM.L and PRAM.L have become more correlated (0.94) than their long-term average of 0.68, meaning their price movements have been converging.
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Return for Risk
EMIM.L vs. PRAM.L — Risk / Return Rank
EMIM.L
PRAM.L
EMIM.L vs. PRAM.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 Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.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 | PRAM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.52 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 4.98 | -0.34 |
| Martin ratioReturn relative to average drawdown | 16.57 | 16.58 | -0.02 |
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 | PRAM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 2.84 | +0.20 |
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 | 0.82 | -0.33 |
Drawdowns
EMIM.L vs. PRAM.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, which is greater than PRAM.L's maximum drawdown of -15.77%. Use the drawdown chart below to compare losses from any high point for EMIM.L and PRAM.L.
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Drawdown Indicators
| EMIM.L | PRAM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -15.77% | -15.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -10.26% | -0.66% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -15.77% | +0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -2.39% | -2.78% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -4.79% | -3.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 3.08% | -0.02% |
Volatility
EMIM.L vs. PRAM.L - Volatility Comparison
The current volatility for iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) is 7.03%, while Amundi Prime Emerging Markets UCITS ETF DR (C) (PRAM.L) has a volatility of 7.80%. This indicates that EMIM.L experiences smaller price fluctuations and is considered to be less risky than PRAM.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 | PRAM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 7.80% | -0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 15.43% | -1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.67% | 18.02% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 18.89% | -3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 18.89% | -1.08% |
EMIM.L vs. PRAM.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is higher than PRAM.L's 0.10% expense ratio. However, 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. PRAM.L - Dividend Comparison
Neither EMIM.L nor PRAM.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, EMIM.L and PRAM.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, PRAM.L is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAM.L is cheaper with a 0.10% expense ratio, compared with 0.18% for EMIM.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.18% for EMIM.L and 0.10% for PRAM.L.
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