ETN vs. IEMG
ETN (Eaton Corporation plc) is a stock, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, ETN returned 23.38%/yr vs 10.42%/yr for IEMG. At a 0.49 correlation, their price movements are largely independent.
Performance
ETN vs. IEMG - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ETN having a 23.61% return and IEMG slightly lower at 22.84%. Over the past 10 years, ETN has outperformed IEMG with an annualized return of 23.38%, while IEMG has yielded a comparatively lower 10.42% annualized return.
ETN
- 1D
- -0.57%
- 1M
- -4.09%
- YTD
- 23.61%
- 6M
- 18.59%
- 1Y
- 22.32%
- 3Y*
- 28.04%
- 5Y*
- 23.65%
- 10Y*
- 23.38%
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
ETN vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 23.61% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
Correlation
The correlation between ETN and IEMG is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | 0.49 |
The correlation between ETN and IEMG has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
ETN vs. IEMG — Risk / Return Rank
ETN
IEMG
ETN vs. IEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Corporation plc (ETN) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.
| ETN | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.39 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 1.04 | 3.23 | -2.19 |
| Martin ratioReturn relative to average drawdown | 2.25 | 11.89 | -9.64 |
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Drawdowns
ETN vs. IEMG - Drawdown Comparison
The maximum ETN drawdown since its inception was -68.95%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for ETN and IEMG.
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Drawdown Indicators
| ETN | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.95% | -38.71% | -30.24% |
Max Drawdown (1Y)Largest decline over 1 year | -19.14% | -13.21% | -5.93% |
Max Drawdown (3Y)Largest decline over 3 years | -34.46% | -17.21% | -17.25% |
Max Drawdown (5Y)Largest decline over 5 years | -34.46% | -35.75% | +1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -44.55% | -38.71% | -5.84% |
Current DrawdownCurrent decline from peak | -9.36% | -3.98% | -5.38% |
Average DrawdownAverage peak-to-trough decline | -14.89% | -12.95% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.86% | 3.59% | +5.27% |
Volatility
ETN vs. IEMG - Volatility Comparison
Eaton Corporation plc (ETN) has a higher volatility of 13.57% compared to iShares Core MSCI Emerging Markets ETF (IEMG) at 10.60%. This indicates that ETN's price experiences larger fluctuations and is considered to be riskier than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ETN | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.57% | 10.60% | +2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 26.78% | 18.89% | +7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.48% | 21.08% | +12.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.24% | 18.73% | +11.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.10% | 20.17% | +9.93% |
Dividends
ETN vs. IEMG - Dividend Comparison
ETN's dividend yield for the trailing twelve months is around 1.09%, less than IEMG's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.09% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.24% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
ETN and IEMG have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (13.57%) compared to IEMG (10.60%). In terms of maximum drawdown, ETN dropped -68.95% vs IEMG's -38.71%.
IEMG currently has the higher Sharpe Ratio (2.03 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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