EMIM.L vs. SEGM.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and SEGM.L (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from iShares - EMIM.L tracks the MSCI Emerging Markets Investable Market Index (IMI) while SEGM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, EMIM.L returned 8.53%/yr vs 8.28%/yr for SEGM.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
EMIM.L vs. SEGM.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while SEGM.L is traded in GBP. To make them comparable, the SEGM.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 25.00% return and SEGM.L slightly higher at 25.78%.
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%
SEGM.L
- 1D
- 0.12%
- 1M
- 1.89%
- YTD
- 25.78%
- 6M
- 27.36%
- 1Y
- 46.74%
- 3Y*
- 21.29%
- 5Y*
- 8.28%
- 10Y*
- —
EMIM.L vs. SEGM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | 12.69% | 3.59% |
SEGM.L iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 25.78% | 23.85% | 9.24% | 4.43% | -10.96% | -0.24% | 15.77% | -10.05% | -0.25% |
Correlation
The correlation between EMIM.L and SEGM.L is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2018 | 0.93 |
The correlation between EMIM.L and SEGM.L has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
EMIM.L vs. SEGM.L — Risk / Return Rank
EMIM.L
SEGM.L
EMIM.L vs. SEGM.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 MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (SEGM.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 | SEGM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.49 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.22 | 4.03 | +0.18 |
| Martin ratioReturn relative to average drawdown | 14.30 | 13.85 | +0.45 |
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Drawdowns
EMIM.L vs. SEGM.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, smaller than the maximum SEGM.L drawdown of -38.42%. Use the drawdown chart below to compare losses from any high point for EMIM.L and SEGM.L.
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Drawdown Indicators
| EMIM.L | SEGM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -38.42% | +6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -11.53% | +0.61% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -23.06% | +7.50% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -23.30% | +1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -4.02% | -4.37% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -8.68% | -11.81% | +3.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 3.36% | -0.13% |
Volatility
EMIM.L vs. SEGM.L - Volatility Comparison
The current volatility for iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) is 8.53%, while iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (SEGM.L) has a volatility of 9.02%. This indicates that EMIM.L experiences smaller price fluctuations and is considered to be less risky than SEGM.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 | SEGM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 9.02% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 16.31% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.08% | 18.30% | -0.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 21.09% | -4.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 22.00% | -4.08% |
EMIM.L vs. SEGM.L - Expense Ratio Comparison
Both EMIM.L and SEGM.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EMIM.L vs. SEGM.L - Dividend Comparison
Neither EMIM.L nor SEGM.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.98, EMIM.L and SEGM.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.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L and SEGM.L have the same expense ratio: 0.18% per year.
EMIM.L tracks MSCI Emerging Markets Investable Market Index (IMI), while SEGM.L tracks MSCI EM NR USD.
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