ESEM.L vs. MKUW.L
ESEM.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF Acc) and MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from Invesco - ESEM.L tracks the MSCI EM (Emerging Markets) Universal Select Business Screens Index while MKUW.L tracks the MSCI Kuwait 20/35 Index. Both are passively managed. Over the past 5 years, ESEM.L returned 6.92%/yr vs 7.19%/yr for MKUW.L. At a 0.23 correlation, their price movements are largely independent. ESEM.L charges 0.19%/yr vs 0.50%/yr for MKUW.L.
Performance
ESEM.L vs. MKUW.L - Performance Comparison
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Returns By Period
In the year-to-date period, ESEM.L achieves a 23.50% return, which is significantly higher than MKUW.L's 0.15% return.
ESEM.L
- 1D
- 0.56%
- 1M
- -5.28%
- 6M
- 17.62%
- YTD
- 23.50%
- 1Y
- 39.40%
- 3Y*
- 20.13%
- 5Y*
- 6.92%
- 10Y*
- —
MKUW.L
- 1D
- -0.06%
- 1M
- -2.04%
- 6M
- 1.18%
- YTD
- 0.15%
- 1Y
- 3.43%
- 3Y*
- 7.89%
- 5Y*
- 7.19%
- 10Y*
- —
ESEM.L vs. MKUW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESEM.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF Acc | 23.50% | 33.09% | 5.76% | 9.03% | -20.65% | -6.36% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 7.42% |
Correlation
The correlation between ESEM.L and MKUW.L is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.23 |
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Return for Risk
ESEM.L vs. MKUW.L — Risk / Return Rank
ESEM.L
MKUW.L
ESEM.L vs. MKUW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF Acc (ESEM.L) and Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.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.
| ESEM.L | MKUW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.07 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 0.46 | +2.74 |
| Martin ratioReturn relative to average drawdown | 10.96 | 1.05 | +9.90 |
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Drawdowns
ESEM.L vs. MKUW.L - Drawdown Comparison
The maximum ESEM.L drawdown since its inception was -35.55%, smaller than the maximum MKUW.L drawdown of -37.76%. Use the drawdown chart below to compare losses from any high point for ESEM.L and MKUW.L.
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Drawdown Indicators
| ESEM.L | MKUW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.55% | -37.76% | +2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -12.95% | -7.47% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -16.50% | -14.16% | -2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -34.82% | -25.13% | -9.69% |
Current DrawdownCurrent decline from peak | -6.03% | -3.60% | -2.43% |
Average DrawdownAverage peak-to-trough decline | -13.97% | -9.42% | -4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 3.26% | +0.53% |
Volatility
ESEM.L vs. MKUW.L - Volatility Comparison
Invesco MSCI Emerging Markets Universal Screened UCITS ETF Acc (ESEM.L) has a higher volatility of 7.56% compared to Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) at 1.71%. This indicates that ESEM.L's price experiences larger fluctuations and is considered to be riskier than MKUW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESEM.L | MKUW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 1.71% | +5.85% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 8.01% | +11.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.44% | 10.26% | +11.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.65% | 12.76% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.63% | 16.49% | +3.14% |
ESEM.L vs. MKUW.L - Expense Ratio Comparison
ESEM.L has a 0.19% expense ratio, which is lower than MKUW.L's 0.50% expense ratio.
Dividends
ESEM.L vs. MKUW.L - Dividend Comparison
Neither ESEM.L nor MKUW.L has paid dividends to shareholders.
Frequently Asked Questions
ESEM.L and MKUW.L have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESEM.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESEM.L is cheaper with a 0.19% expense ratio, compared with 0.50% for MKUW.L.
ESEM.L tracks MSCI EM (Emerging Markets) Universal Select Business Screens Index, while MKUW.L tracks MSCI Kuwait 20/35 Index. Their fees differ too: 0.19% for ESEM.L and 0.50% for MKUW.L.
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