ESES.L vs. XDEX.L
ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF) and XDEX.L (Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C) are both Emerging Markets Equities funds - ESES.L tracks the Invesco MSCI Emerging Markets Universal Screened UCITS ETF while XDEX.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, ESES.L returned 7.51%/yr vs 11.22%/yr for XDEX.L. Their correlation of 0.86 suggests significant overlap in exposure.
Performance
ESES.L vs. XDEX.L - Performance Comparison
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Returns By Period
In the year-to-date period, ESES.L achieves a 22.99% return, which is significantly lower than XDEX.L's 29.84% 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*
- —
XDEX.L
- 1D
- -2.58%
- 1M
- -7.84%
- 6M
- 23.01%
- YTD
- 29.84%
- 1Y
- 52.44%
- 3Y*
- 20.58%
- 5Y*
- 11.22%
- 10Y*
- 12.24%
ESES.L vs. XDEX.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% |
XDEX.L Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C | 29.84% | 28.16% | 2.86% | 2.89% | -10.24% | 7.84% |
Correlation
The correlation between ESES.L and XDEX.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 | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.86 |
The correlation between ESES.L and XDEX.L has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
ESES.L vs. XDEX.L — Risk / Return Rank
ESES.L
XDEX.L
ESES.L vs. XDEX.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 Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C (XDEX.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 | XDEX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.43 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 4.14 | -0.51 |
| Martin ratioReturn relative to average drawdown | 11.46 | 12.71 | -1.26 |
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Drawdowns
ESES.L vs. XDEX.L - Drawdown Comparison
The maximum ESES.L drawdown since its inception was -23.59%, roughly equal to the maximum XDEX.L drawdown of -24.54%. Use the drawdown chart below to compare losses from any high point for ESES.L and XDEX.L.
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Drawdown Indicators
| ESES.L | XDEX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.59% | -24.54% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -12.60% | +1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -23.59% | -17.38% | -6.21% |
Max Drawdown (5Y)Largest decline over 5 years | -23.59% | -18.65% | -4.94% |
Max Drawdown (10Y)Largest decline over 10 years | — | -24.54% | — |
Current DrawdownCurrent decline from peak | -7.86% | -12.55% | +4.69% |
Average DrawdownAverage peak-to-trough decline | -10.52% | -4.85% | -5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 4.11% | -0.68% |
Volatility
ESES.L vs. XDEX.L - Volatility Comparison
The current volatility for Invesco MSCI Emerging Markets Universal Screened UCITS ETF (ESES.L) is 7.50%, while Xtrackers MSCI Emerging Markets ESG Screened UCITS ETF 1C (XDEX.L) has a volatility of 11.39%. This indicates that ESES.L experiences smaller price fluctuations and is considered to be less risky than XDEX.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 | XDEX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.50% | 11.39% | -3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 17.04% | 20.39% | -3.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.04% | 22.03% | -2.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.66% | 16.48% | +5.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3,197.93% | 16.03% | +3,181.90% |
Dividends
ESES.L vs. XDEX.L - Dividend Comparison
Neither ESES.L nor XDEX.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, ESES.L and XDEX.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.
ESES.L tracks Invesco MSCI Emerging Markets Universal Screened UCITS ETF, while XDEX.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and Xtrackers.
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