EMIM.L vs. XNAQ.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and XNAQ.L (Xtrackers Nasdaq 100 UCITS ETF 1C) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while XNAQ.L is a Nasdaq-100 fund tracking the Russell 1000 Growth TR USD. Both are passively managed. Over the past 5 years, EMIM.L returned 8.57%/yr vs 17.97%/yr for XNAQ.L. A 0.56 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.20%/yr for XNAQ.L.
Performance
EMIM.L vs. XNAQ.L - Performance Comparison
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Different Trading Currencies
EMIM.L is traded in GBp, while XNAQ.L is traded in GBP. To make them comparable, the XNAQ.L 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 XNAQ.L's 17.14% 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%
XNAQ.L
- 1D
- 2.42%
- 1M
- 0.57%
- YTD
- 17.14%
- 6M
- 17.33%
- 1Y
- 38.43%
- 3Y*
- 23.76%
- 5Y*
- 17.97%
- 10Y*
- —
EMIM.L vs. XNAQ.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 22.83% | 23.35% | 9.18% | 4.93% | -10.17% | -6.27% |
XNAQ.L Xtrackers Nasdaq 100 UCITS ETF 1C | 17.14% | 11.72% | 28.64% | 47.82% | -25.44% | -8.88% |
Correlation
The correlation between EMIM.L and XNAQ.L is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | 0.56 |
The correlation between EMIM.L and XNAQ.L shifts across timeframes, from 0.54 (3 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMIM.L vs. XNAQ.L — Risk / Return Rank
EMIM.L
XNAQ.L
EMIM.L vs. XNAQ.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 Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.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 | XNAQ.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.43 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.09 | 3.40 | +0.69 |
| Martin ratioReturn relative to average drawdown | 14.02 | 9.85 | +4.17 |
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Drawdowns
EMIM.L vs. XNAQ.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, smaller than the maximum XNAQ.L drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for EMIM.L and XNAQ.L.
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Drawdown Indicators
| EMIM.L | XNAQ.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -34.26% | +2.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -10.99% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -24.55% | +8.99% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -27.52% | +5.54% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | -2.90% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -8.70% | -13.67% | +4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.80% | -0.60% |
Volatility
EMIM.L vs. XNAQ.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a higher volatility of 7.38% compared to Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) at 5.78%. This indicates that EMIM.L's price experiences larger fluctuations and is considered to be riskier than XNAQ.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 | XNAQ.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.38% | 5.78% | +1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 14.94% | 11.20% | +3.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.33% | 15.32% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.97% | 23.63% | -7.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 25.98% | -8.12% |
EMIM.L vs. XNAQ.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than XNAQ.L's 0.20% 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. XNAQ.L - Dividend Comparison
Neither EMIM.L nor XNAQ.L has paid dividends to shareholders.
Frequently Asked Questions
EMIM.L and XNAQ.L have a correlation of 0.68, 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 0.20% for XNAQ.L.
EMIM.L is categorized as Emerging Markets Equities, while XNAQ.L is Nasdaq-100. EMIM.L tracks MSCI EM NR USD, while XNAQ.L tracks Russell 1000 Growth TR USD. They also come from different issuers: iShares and Xtrackers. Their fees differ too: 0.18% for EMIM.L and 0.20% for XNAQ.L.
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