PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EMV.L vs. EXCS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMV.L vs. EXCS.L

Last updated Jun 5, 2026

EMV.L (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from iShares tracking the MSCI EM NR USD. Both are passively managed. Over the past 3 years, EMV.L returned 11.29%/yr vs 24.90%/yr for EXCS.L. A 0.76 correlation means they provide meaningful diversification when combined. EMV.L charges 0.40%/yr vs 0.18%/yr for EXCS.L.

Performance

EMV.L vs. EXCS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

EMV.L is traded in GBp, while EXCS.L is traded in GBP. To make them comparable, the EXCS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, EMV.L achieves a 17.59% return, which is significantly lower than EXCS.L's 38.77% return.

EMV.L

1D
-1.01%
1M
5.53%
YTD
17.59%
6M
17.45%
1Y
26.13%
3Y*
11.29%
5Y*
6.63%
10Y*
7.24%

EXCS.L

1D
-1.64%
1M
8.94%
YTD
38.77%
6M
43.14%
1Y
73.63%
3Y*
24.90%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMV.L vs. EXCS.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
EMV.L
iShares Edge MSCI EM Minimum Volatility UCITS ETF		17.59%5.04%10.84%1.45%-4.20%1.61%
EXCS.L
iShares MSCI EM ex-China UCITS ETF USD (Acc)		38.77%26.13%5.55%10.95%-8.31%2.81%

Correlation

The correlation between EMV.L and EXCS.L is 0.81, 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

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2021

0.76

The correlation between EMV.L and EXCS.L has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

EMV.L vs. EXCS.L - Sectors Allocation Comparison

Sectors
EMV.L
EXCS.L

Technology

32.4%
45.1%

Financial Services

18.9%
19.5%

Communication Services

11.0%
3.4%

Consumer Defensive

6.9%
2.9%

Consumer Cyclical

6.7%
4.5%

Industrials

6.2%
8.3%

Healthcare

6.1%
2.2%

Utilities

4.7%
2.3%

Energy

3.6%
4.2%

Basic Materials

2.9%
6.8%

Real Estate

0.6%
1.0%

Technology

EMV.L
32.4%
EXCS.L
45.1%

Financial Services

EMV.L
18.9%
EXCS.L
19.5%

Communication Services

EMV.L
11.0%
EXCS.L
3.4%

Consumer Defensive

EMV.L
6.9%
EXCS.L
2.9%

Consumer Cyclical

EMV.L
6.7%
EXCS.L
4.5%

Industrials

EMV.L
6.2%
EXCS.L
8.3%

Healthcare

EMV.L
6.1%
EXCS.L
2.2%

Utilities

EMV.L
4.7%
EXCS.L
2.3%

Energy

EMV.L
3.6%
EXCS.L
4.2%

Basic Materials

EMV.L
2.9%
EXCS.L
6.8%

Real Estate

EMV.L
0.6%
EXCS.L
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Edge MSCI EM Minimum Volatility UCITS ETF

iShares MSCI EM ex-China UCITS ETF USD (Acc)

Often compared with EMV.L:
EMV.L vs. CEA1.LEMV.L vs. EMIM.LEMV.L vs. NDIA.LEMV.L vs. XDEQ.LEMV.L vs. FEMQ.LEMV.L vs. ZEM.TOEMV.L vs. MXFP.L
Often compared with EXCS.L:
EXCS.L vs. EMIM.LEXCS.L vs. EIMI.LEXCS.L vs. XDEM.LEXCS.L vs. QQQEXCS.L vs. EEMEXCS.L vs. ^GSPCEXCS.L vs. VFEG.L

Return for Risk

EMV.L vs. EXCS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMV.L
EMV.L Risk / Return Rank: 6969
Overall Rank
EMV.L Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
EMV.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
EMV.L Omega Ratio Rank: 7474
Omega Ratio Rank
EMV.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
EMV.L Martin Ratio Rank: 6262
Martin Ratio Rank
EXCS.L
EXCS.L Risk / Return Rank: 9494
Overall Rank
EXCS.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
EXCS.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
EXCS.L Omega Ratio Rank: 9595
Omega Ratio Rank
EXCS.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
EXCS.L Martin Ratio Rank: 9292
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EMV.L vs. EXCS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) and iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.

EMV.LEXCS.LDifference
Sharpe ratioReturn per unit of total volatility
2.29
3.88

-1.59

Sortino ratioReturn per unit of downside risk
3.17
4.79

-1.62

Omega ratioGain probability vs. loss probability

1.43

1.70

-0.27

Calmar ratioReturn relative to maximum drawdown

3.28

6.20

-2.92

Martin ratioReturn relative to average drawdown

11.15

22.70

-11.55

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMV.L vs. EXCS.L - Sharpe Ratio Comparison

The current EMV.L Sharpe Ratio is 2.29, which is lower than the EXCS.L Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of EMV.L and EXCS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

EMV.LEXCS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

3.88

-1.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.61

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

1.03

-0.62

Drawdowns

EMV.L vs. EXCS.L - Drawdown Comparison

The maximum EMV.L drawdown since its inception was -28.68%, which is greater than EXCS.L's maximum drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for EMV.L and EXCS.L.

Loading charts...

Drawdown Indicators

EMV.LEXCS.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.68%

-17.51%

-11.17%

Max Drawdown (1Y)

Largest decline over 1 year

-7.93%

-11.81%

+3.88%

Max Drawdown (3Y)

Largest decline over 3 years

-11.19%

-17.51%

+6.32%

Max Drawdown (5Y)

Largest decline over 5 years

-11.19%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-22.59%

—

—

Current Drawdown

Current decline from peak

-1.54%

-2.34%

+0.80%

Average Drawdown

Average peak-to-trough decline

-5.90%

-4.85%

-1.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.34%

3.23%

-0.89%

Volatility

EMV.L vs. EXCS.L - Volatility Comparison

The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) is 4.60%, while iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a volatility of 8.66%. This indicates that EMV.L experiences smaller price fluctuations and is considered to be less risky than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EMV.LEXCS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.60%

8.66%

-4.06%

Volatility (6M)

Calculated over the trailing 6-month period

9.74%

16.55%

-6.81%

Volatility (1Y)

Calculated over the trailing 1-year period

11.37%

18.88%

-7.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.94%

15.36%

-4.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.28%

15.36%

-2.08%

EMV.L vs. EXCS.L - Expense Ratio Comparison

EMV.L has a 0.40% expense ratio, which is higher than EXCS.L's 0.18% expense ratio.

Dividends

EMV.L vs. EXCS.L - Dividend Comparison

Neither EMV.L nor EXCS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

EMV.L and EXCS.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EXCS.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EXCS.L is cheaper with a 0.18% expense ratio, compared with 0.40% for EMV.L.

Both ETFs track MSCI EM NR USD. Their fees differ too: 0.40% for EMV.L and 0.18% for EXCS.L.

Portfolio Optimizer

Find the right allocation for EMV.L and EXCS.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer