EMIM.L vs. XXSC.L
EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) and XXSC.L (Xtrackers MSCI Europe Small Cap UCITS ETF 1C) are both exchange-traded funds - EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while XXSC.L is a Europe Equities fund tracking the MSCI Europe Small Cap NR EUR. Both are passively managed. Over the past 10 years, EMIM.L returned 11.09%/yr vs 8.44%/yr for XXSC.L. A 0.59 correlation means they provide meaningful diversification when combined. EMIM.L charges 0.18%/yr vs 0.30%/yr for XXSC.L.
Performance
EMIM.L vs. XXSC.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMIM.L achieves a 24.23% return, which is significantly higher than XXSC.L's 6.58% return. Over the past 10 years, EMIM.L has outperformed XXSC.L with an annualized return of 11.09%, while XXSC.L has yielded a comparatively lower 8.44% annualized return.
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%
XXSC.L
- 1D
- 0.56%
- 1M
- 2.62%
- YTD
- 6.58%
- 6M
- 9.35%
- 1Y
- 15.64%
- 3Y*
- 11.84%
- 5Y*
- 4.26%
- 10Y*
- 8.44%
EMIM.L vs. XXSC.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) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
XXSC.L Xtrackers MSCI Europe Small Cap UCITS ETF 1C | 6.58% | 22.28% | 0.76% | 10.44% | -17.50% | 15.39% | 10.55% | 24.87% | -14.91% | 23.58% |
Correlation
The correlation between EMIM.L and XXSC.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2014 | 0.59 |
The correlation between EMIM.L and XXSC.L has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.
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Return for Risk
EMIM.L vs. XXSC.L — Risk / Return Rank
EMIM.L
XXSC.L
EMIM.L vs. XXSC.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 MSCI Europe Small Cap UCITS ETF 1C (XXSC.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 | XXSC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.79 | ||
| Sortino ratioReturn per unit of downside risk | +2.11 | ||
| Omega ratioGain probability vs. loss probability | 1.57 | 1.23 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | 1.44 | +3.19 |
| Martin ratioReturn relative to average drawdown | 16.57 | 5.17 | +11.39 |
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 | XXSC.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.04 | 1.25 | +1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.27 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.55 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.76 | -0.27 |
Drawdowns
EMIM.L vs. XXSC.L - Drawdown Comparison
The maximum EMIM.L drawdown since its inception was -31.70%, smaller than the maximum XXSC.L drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for EMIM.L and XXSC.L.
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Drawdown Indicators
| EMIM.L | XXSC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.70% | -35.12% | +3.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -10.79% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -12.84% | -2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -21.98% | -30.74% | +8.76% |
Max Drawdown (10Y)Largest decline over 10 years | -26.46% | -35.12% | +8.66% |
Current DrawdownCurrent decline from peak | -2.39% | -1.31% | -1.08% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -7.53% | -1.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.06% | 3.02% | +0.04% |
Volatility
EMIM.L vs. XXSC.L - Volatility Comparison
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a higher volatility of 7.03% compared to Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L) at 3.95%. This indicates that EMIM.L's price experiences larger fluctuations and is considered to be riskier than XXSC.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 | XXSC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 3.95% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 10.48% | +3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.67% | 12.50% | +4.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.82% | 16.01% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 16.27% | +1.54% |
EMIM.L vs. XXSC.L - Expense Ratio Comparison
EMIM.L has a 0.18% expense ratio, which is lower than XXSC.L's 0.30% expense ratio.
Dividends
EMIM.L vs. XXSC.L - Dividend Comparison
Neither EMIM.L nor XXSC.L has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XXSC.L Xtrackers MSCI Europe Small Cap UCITS ETF 1C | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.95% |
Frequently Asked Questions
EMIM.L and XXSC.L have a correlation of 0.57, 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 0.30% for XXSC.L.
EMIM.L is categorized as Emerging Markets Equities, while XXSC.L is Europe Equities. EMIM.L tracks MSCI EM NR USD, while XXSC.L tracks MSCI Europe Small Cap NR EUR. They also come from different issuers: iShares and DWS. Their fees differ too: 0.18% for EMIM.L and 0.30% for XXSC.L.
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