EMV.L vs. VFEG.L

Last updated Jun 5, 2026

EMV.L (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and VFEG.L (Vanguard FTSE Emerging Markets UCITS ETF Acc) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and Vanguard respectively. Both are passively managed. Over the past 5 years, EMV.L returned 6.63%/yr vs 6.12%/yr for VFEG.L. Their correlation of 0.86 suggests significant overlap in exposure. EMV.L charges 0.40%/yr vs 0.22%/yr for VFEG.L.

Performance

EMV.L vs. VFEG.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 Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EMV.L is traded in GBp, while VFEG.L is traded in GBP. To make them comparable, the VFEG.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 higher than VFEG.L's 11.73% 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%

VFEG.L

• 1D: -0.21%
• 1M: 2.54%
• YTD: 11.73%
• 6M: 12.29%
• 1Y: 30.60%
• 3Y*: 15.18%
• 5Y*: 6.12%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EMV.L iShares Edge MSCI EM Minimum Volatility UCITS ETF	17.59%	5.04%	10.84%	1.45%	-4.20%	5.93%	4.08%	-2.55%
VFEG.L Vanguard FTSE Emerging Markets UCITS ETF Acc	11.73%	17.15%	14.13%	1.28%	-7.26%	-0.01%	11.28%	4.51%

Correlation

The correlation between EMV.L and VFEG.L is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.86

The correlation between EMV.L and VFEG.L has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

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

Sectors	EMV.L	VFEG.L
Technology	32.4%	29.6%
Financial Services	18.9%	20.8%
Communication Services	11.0%	7.5%
Consumer Defensive	6.9%	3.6%
Consumer Cyclical	6.7%	10.8%
Industrials	6.2%	7.1%
Healthcare	6.1%	3.4%
Utilities	4.7%	3.0%
Energy	3.6%	4.9%
Basic Materials	2.9%	7.8%
Real Estate	0.6%	1.7%

Return for Risk

EMV.L vs. VFEG.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: 69
EMV.L Sharpe Ratio Rank: 71
EMV.L Sortino Ratio Rank: 71
EMV.L Omega Ratio Rank: 74
EMV.L Calmar Ratio Rank: 67
EMV.L Martin Ratio Rank: 62

VFEG.L

VFEG.L Risk / Return Rank: 66
VFEG.L Sharpe Ratio Rank: 68
VFEG.L Sortino Ratio Rank: 65
VFEG.L Omega Ratio Rank: 67
VFEG.L Calmar Ratio Rank: 69
VFEG.L Martin Ratio Rank: 62

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. VFEG.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 Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.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.L	VFEG.L	Difference
Sharpe ratio: Return per unit of total volatility	2.29	2.21	+0.08
Sortino ratio: Return per unit of downside risk	3.17	2.97	+0.20
Omega ratio: Gain probability vs. loss probability	1.43	1.40	+0.04
Calmar ratio: Return relative to maximum drawdown	3.28	3.39	-0.11
Martin ratio: Return relative to average drawdown	11.15	11.12	+0.03
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. VFEG.L - Sharpe Ratio Comparison

The current EMV.L Sharpe Ratio is 2.29, which is comparable to the VFEG.L Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of EMV.L and VFEG.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.

Sharpe Ratios by Period

	EMV.L	VFEG.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.21	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.40	+0.20
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	0.44	-0.03

Drawdowns

EMV.L vs. VFEG.L - Drawdown Comparison

The maximum EMV.L drawdown since its inception was -28.68%, which is greater than VFEG.L's maximum drawdown of -25.35%. Use the drawdown chart below to compare losses from any high point for EMV.L and VFEG.L.

Drawdown Indicators

	EMV.L	VFEG.L	Difference
Max Drawdown Largest peak-to-trough decline	-28.68%	-25.35%	-3.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.93%	-8.99%	+1.06%
Max Drawdown (3Y) Largest decline over 3 years	-11.19%	-14.61%	+3.42%
Max Drawdown (5Y) Largest decline over 5 years	-11.19%	-19.47%	+8.28%
Max Drawdown (10Y) Largest decline over 10 years	-22.59%	—	—
Current Drawdown Current decline from peak	-1.54%	-1.40%	-0.14%
Average Drawdown Average peak-to-trough decline	-5.90%	-8.82%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.75%	-0.41%

Volatility

EMV.L vs. VFEG.L - Volatility Comparison

The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) is 4.60%, while Vanguard FTSE Emerging Markets UCITS ETF Acc (VFEG.L) has a volatility of 5.09%. This indicates that EMV.L experiences smaller price fluctuations and is considered to be less risky than VFEG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMV.L	VFEG.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	5.09%	-0.49%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	11.04%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.37%	13.80%	-2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.94%	15.17%	-4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	17.44%	-4.16%

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

EMV.L has a 0.40% expense ratio, which is higher than VFEG.L's 0.22% expense ratio.

Dividends

EMV.L vs. VFEG.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both EMV.L and VFEG.L in my portfolio?

EMV.L and VFEG.L have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMV.L or VFEG.L?

On fees, VFEG.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMV.L or VFEG.L?

VFEG.L is cheaper with a 0.22% expense ratio, compared with 0.40% for EMV.L.

What is the main difference between EMV.L and VFEG.L?

Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.40% for EMV.L and 0.22% for VFEG.L.