ESES.L vs. EMXC.L
ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF) and EMXC.L (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both Emerging Markets Equities funds - ESES.L tracks the Invesco MSCI Emerging Markets Universal Screened UCITS ETF while EMXC.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, ESES.L returned 7.51%/yr vs 11.61%/yr for EMXC.L. A 0.76 correlation means they provide meaningful diversification when combined.
Performance
ESES.L vs. EMXC.L - Performance Comparison
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Different Trading Currencies
ESES.L is traded in GBp, while EMXC.L is traded in EUR. To make them comparable, the EMXC.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, ESES.L achieves a 22.99% return, which is significantly lower than EMXC.L's 27.02% return.
ESES.L
- 1D
- -0.75%
- 1M
- -5.75%
- 6M
- 17.36%
- YTD
- 22.99%
- 1Y
- 39.41%
- 3Y*
- 18.98%
- 5Y*
- 7.51%
- 10Y*
- —
EMXC.L
- 1D
- -1.64%
- 1M
- -9.30%
- 6M
- 21.80%
- YTD
- 27.02%
- 1Y
- 49.39%
- 3Y*
- 23.54%
- 5Y*
- 11.61%
- 10Y*
- —
ESES.L vs. EMXC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF | 22.99% | 24.05% | 7.54% | 2.94% | -11.14% | 6,848.44% |
EMXC.L Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 27.02% | 42.48% | -1.54% | 16.26% | -14.65% | -2.16% |
Correlation
The correlation between ESES.L and EMXC.L is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.76 |
The correlation between ESES.L and EMXC.L shifts across timeframes, from 0.76 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ESES.L vs. EMXC.L — Risk / Return Rank
ESES.L
EMXC.L
ESES.L vs. EMXC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.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.
| ESES.L | EMXC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 3.43 | +0.20 |
| Martin ratioReturn relative to average drawdown | 11.46 | 10.95 | +0.51 |
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Drawdowns
ESES.L vs. EMXC.L - Drawdown Comparison
The maximum ESES.L drawdown since its inception was -23.59%, smaller than the maximum EMXC.L drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for ESES.L and EMXC.L.
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Drawdown Indicators
| ESES.L | EMXC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.59% | -27.39% | +3.80% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -14.32% | +3.53% |
Max Drawdown (3Y)Largest decline over 3 years | -23.59% | -18.36% | -5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | -27.39% | +3.80% |
Current DrawdownCurrent decline from peak | -7.86% | -12.27% | +4.41% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -7.80% | -2.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 4.50% | -1.07% |
Volatility
ESES.L vs. EMXC.L - Volatility Comparison
The current volatility for Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) is 7.50%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L) has a volatility of 10.76%. This indicates that ESES.L experiences smaller price fluctuations and is considered to be less risky than EMXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESES.L | EMXC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 10.76% | -3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 17.04% | 22.93% | -5.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 24.64% | -5.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.66% | 18.58% | +3.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,197.93% | 18.67% | +3,179.26% |
Dividends
ESES.L vs. EMXC.L - Dividend Comparison
Neither ESES.L nor EMXC.L has paid dividends to shareholders.
Frequently Asked Questions
ESES.L and EMXC.L have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESES.L tracks Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while EMXC.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and Amundi.
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