EMMV.L vs. EIMI.L
EMMV.L (iShares Edge MSCI EM Minimum Volatility UCITS ETF USD (Acc)) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both Emerging Markets Equities funds from iShares - EMMV.L tracks the MSCI Emerging Markets Minimum Volatility Index (Net) while EIMI.L tracks the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 10 years, EMMV.L returned 5.68%/yr vs 9.25%/yr for EIMI.L. Their correlation of 0.91 suggests significant overlap in exposure. EMMV.L charges 0.40%/yr vs 0.18%/yr for EIMI.L.
Performance
EMMV.L vs. EIMI.L - Performance Comparison
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Returns By Period
In the year-to-date period, EMMV.L achieves a 13.79% return, which is significantly lower than EIMI.L's 18.64% return. Over the past 10 years, EMMV.L has underperformed EIMI.L with an annualized return of 5.68%, while EIMI.L has yielded a comparatively higher 9.25% annualized return.
EMMV.L
- 1D
- -0.54%
- 1M
- -5.44%
- 6M
- 10.56%
- YTD
- 13.79%
- 1Y
- 18.29%
- 3Y*
- 12.03%
- 5Y*
- 5.32%
- 10Y*
- 5.68%
EIMI.L
- 1D
- -0.30%
- 1M
- -6.07%
- 6M
- 13.34%
- YTD
- 18.64%
- 1Y
- 34.63%
- 3Y*
- 19.30%
- 5Y*
- 7.21%
- 10Y*
- 9.25%
EMMV.L vs. EIMI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMMV.L iShares Edge MSCI EM Minimum Volatility UCITS ETF USD (Acc) | 13.79% | 12.62% | 8.30% | 8.03% | -14.19% | 4.40% | 7.89% | 6.68% | -5.45% | 26.38% |
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 18.64% | 32.16% | 7.36% | 11.03% | -19.67% | -0.65% | 18.80% | 16.37% | -14.18% | 36.94% |
Correlation
The correlation between EMMV.L and EIMI.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since May 30, 2014 | 0.91 |
The correlation between EMMV.L and EIMI.L has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
EMMV.L vs. EIMI.L — Risk / Return Rank
EMMV.L
EIMI.L
EMMV.L vs. EIMI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF USD (Acc) (EMMV.L) and iShares Core MSCI EM IMI UCITS ETF (EIMI.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.
| EMMV.L | EIMI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.88 | 2.72 | -0.84 |
| Martin ratioReturn relative to average drawdown | 6.09 | 8.68 | -2.59 |
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Drawdowns
EMMV.L vs. EIMI.L - Drawdown Comparison
The maximum EMMV.L drawdown since its inception was -32.15%, smaller than the maximum EIMI.L drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for EMMV.L and EIMI.L.
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Drawdown Indicators
| EMMV.L | EIMI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.15% | -38.73% | +6.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.71% | -12.66% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -12.41% | -17.44% | +5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -22.34% | -33.69% | +11.35% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -38.73% | +6.58% |
Current DrawdownCurrent decline from peak | -6.62% | -7.71% | +1.09% |
Average DrawdownAverage peak-to-trough decline | -8.54% | -13.92% | +5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.98% | -0.98% |
Volatility
EMMV.L vs. EIMI.L - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF USD (Acc) (EMMV.L) is 6.28%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.59%. This indicates that EMMV.L experiences smaller price fluctuations and is considered to be less risky than EIMI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMMV.L | EIMI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.28% | 8.59% | -2.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 19.48% | -5.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 21.43% | -6.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.06% | 18.83% | -5.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.06% | 19.22% | -5.16% |
EMMV.L vs. EIMI.L - Expense Ratio Comparison
EMMV.L has a 0.40% expense ratio, which is higher than EIMI.L's 0.18% expense ratio.
Dividends
EMMV.L vs. EIMI.L - Dividend Comparison
Neither EMMV.L nor EIMI.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, EMMV.L and EIMI.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, EIMI.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIMI.L is cheaper with a 0.18% expense ratio, compared with 0.40% for EMMV.L.
EMMV.L tracks MSCI Emerging Markets Minimum Volatility Index (Net), while EIMI.L tracks MSCI Emerging Markets Investable Market Index. Their fees differ too: 0.40% for EMMV.L and 0.18% for EIMI.L.
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