EUNY.DE vs. EMSM.DE
EUNY.DE (iShares Emerging Markets Dividend UCITS ETF) and EMSM.DE (SPDR MSCI Emerging Markets Small Cap UCITS ETF) are both Emerging Markets Equities funds - EUNY.DE tracks the Dow Jones Emerging Markets Select Dividend while EMSM.DE tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, EUNY.DE returned 7.14%/yr vs 9.68%/yr for EMSM.DE. Their correlation of 0.84 suggests significant overlap in exposure. EUNY.DE charges 0.65%/yr vs 0.55%/yr for EMSM.DE.
Performance
EUNY.DE vs. EMSM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNY.DE achieves a 11.46% return, which is significantly lower than EMSM.DE's 27.59% return. Over the past 10 years, EUNY.DE has underperformed EMSM.DE with an annualized return of 7.14%, while EMSM.DE has yielded a comparatively higher 9.68% annualized return.
EUNY.DE
- 1D
- -0.55%
- 1M
- -1.57%
- YTD
- 11.46%
- 6M
- 10.81%
- 1Y
- 25.49%
- 3Y*
- 17.26%
- 5Y*
- 5.28%
- 10Y*
- 7.14%
EMSM.DE
- 1D
- -1.74%
- 1M
- 6.15%
- YTD
- 27.59%
- 6M
- 29.59%
- 1Y
- 49.96%
- 3Y*
- 20.54%
- 5Y*
- 8.20%
- 10Y*
- 9.68%
EUNY.DE vs. EMSM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNY.DE iShares Emerging Markets Dividend UCITS ETF | 11.46% | 13.97% | 12.39% | 15.37% | -26.13% | 19.99% | -11.70% | 18.31% | -1.55% | 10.49% |
EMSM.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF | 27.59% | 18.76% | 13.62% | 5.12% | -14.15% | 4.29% | 6.29% | 21.03% | -11.23% | 20.43% |
Correlation
The correlation between EUNY.DE and EMSM.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2012 | 0.84 |
The correlation between EUNY.DE and EMSM.DE shifts across timeframes, from 0.70 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EUNY.DE vs. EMSM.DE — Risk / Return Rank
EUNY.DE
EMSM.DE
EUNY.DE vs. EMSM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Dividend UCITS ETF (EUNY.DE) and SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE). 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.
| EUNY.DE | EMSM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.50 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 6.17 | 4.83 | +1.34 |
| Martin ratioReturn relative to average drawdown | 16.86 | 17.39 | -0.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EUNY.DE | EMSM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.80 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.48 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.52 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.42 | -0.19 |
Drawdowns
EUNY.DE vs. EMSM.DE - Drawdown Comparison
The maximum EUNY.DE drawdown since its inception was -40.65%, which is greater than EMSM.DE's maximum drawdown of -36.49%. Use the drawdown chart below to compare losses from any high point for EUNY.DE and EMSM.DE.
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Drawdown Indicators
| EUNY.DE | EMSM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.65% | -36.49% | -4.16% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -10.29% | +6.18% |
Max Drawdown (3Y)Largest decline over 3 years | -15.70% | -19.25% | +3.55% |
Max Drawdown (5Y)Largest decline over 5 years | -31.43% | -23.87% | -7.56% |
Max Drawdown (10Y)Largest decline over 10 years | -36.29% | -31.69% | -4.60% |
Current DrawdownCurrent decline from peak | -2.82% | -2.68% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -12.34% | -10.06% | -2.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.51% | 2.86% | -1.35% |
Volatility
EUNY.DE vs. EMSM.DE - Volatility Comparison
The current volatility for iShares Emerging Markets Dividend UCITS ETF (EUNY.DE) is 4.52%, while SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE) has a volatility of 7.40%. This indicates that EUNY.DE experiences smaller price fluctuations and is considered to be less risky than EMSM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNY.DE | EMSM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.52% | 7.40% | -2.88% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 14.93% | -5.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.90% | 17.75% | -5.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.58% | 16.73% | -1.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.73% | 18.33% | -1.60% |
EUNY.DE vs. EMSM.DE - Expense Ratio Comparison
EUNY.DE has a 0.65% expense ratio, which is higher than EMSM.DE's 0.55% expense ratio.
Dividends
EUNY.DE vs. EMSM.DE - Dividend Comparison
EUNY.DE's dividend yield for the trailing twelve months is around 5.32%, while EMSM.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMSM.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EUNY.DE iShares Emerging Markets Dividend UCITS ETF | 5.32% | 5.82% | 7.72% | 8.04% | 9.56% | 6.35% | 5.09% | 5.57% | 5.65% | 4.09% | 4.35% | 6.37% |
Frequently Asked Questions
EUNY.DE and EMSM.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMSM.DE is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMSM.DE is cheaper with a 0.55% expense ratio, compared with 0.65% for EUNY.DE.
EUNY.DE tracks Dow Jones Emerging Markets Select Dividend, while EMSM.DE tracks MSCI EM NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for EUNY.DE and 0.55% for EMSM.DE.
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