EVAL.L vs. EMIM.L
EVAL.L (SPDR MSCI Europe Value UCITS ETF) and EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - EVAL.L is a Europe Equities fund tracking the MSCI Europe Value NR EUR, while EMIM.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (IMI). Both are passively managed. Over the past 10 years, EVAL.L returned 11.35%/yr vs 9.04%/yr for EMIM.L. A 0.59 correlation means they provide meaningful diversification when combined. EVAL.L charges 0.20%/yr vs 0.18%/yr for EMIM.L.
Performance
EVAL.L vs. EMIM.L - Performance Comparison
Loading charts...
Different Trading Currencies
EVAL.L is traded in GBP, while EMIM.L is traded in GBp. To make them comparable, the EMIM.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, EVAL.L achieves a 12.38% return, which is significantly lower than EMIM.L's 18.12% return. Over the past 10 years, EVAL.L has outperformed EMIM.L with an annualized return of 11.35%, while EMIM.L has yielded a comparatively lower 9.04% annualized return.
EVAL.L
- 1D
- -0.18%
- 1M
- -0.33%
- 6M
- 10.01%
- YTD
- 12.38%
- 1Y
- 30.45%
- 3Y*
- 20.76%
- 5Y*
- 14.76%
- 10Y*
- 11.35%
EMIM.L
- 1D
- -1.00%
- 1M
- -6.46%
- 6M
- 13.01%
- YTD
- 18.12%
- 1Y
- 33.59%
- 3Y*
- 18.17%
- 5Y*
- 7.68%
- 10Y*
- 9.04%
EVAL.L vs. EMIM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EVAL.L SPDR MSCI Europe Value UCITS ETF | 12.38% | 41.82% | 4.36% | 11.01% | 1.33% | 19.13% | -2.54% | 16.22% | -13.77% | 15.54% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 18.12% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
Correlation
The correlation between EVAL.L and EMIM.L is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.59 |
The correlation between EVAL.L and EMIM.L shifts across timeframes, from 0.49 (3 years) to 0.59 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EVAL.L vs. EMIM.L — Risk / Return Rank
EVAL.L
EMIM.L
EVAL.L vs. EMIM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (EVAL.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.
| EVAL.L | EMIM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.33 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.00 | 3.06 | -0.06 |
| Martin ratioReturn relative to average drawdown | 11.02 | 9.23 | +1.79 |
Loading charts...
Drawdowns
EVAL.L vs. EMIM.L - Drawdown Comparison
The maximum EVAL.L drawdown since its inception was -40.72%, which is greater than EMIM.L's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for EVAL.L and EMIM.L.
Loading charts...
Drawdown Indicators
| EVAL.L | EMIM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.72% | -31.70% | -9.02% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -10.92% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -14.34% | -15.56% | +1.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.61% | -20.99% | +6.38% |
Max Drawdown (10Y)Largest decline over 10 years | -37.77% | -26.46% | -11.31% |
Current DrawdownCurrent decline from peak | -1.43% | -9.30% | +7.87% |
Average DrawdownAverage peak-to-trough decline | -11.27% | -8.67% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.63% | -0.87% |
Volatility
EVAL.L vs. EMIM.L - Volatility Comparison
The current volatility for SPDR MSCI Europe Value UCITS ETF (EVAL.L) is 4.04%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a volatility of 8.56%. This indicates that EVAL.L experiences smaller price fluctuations and is considered to be less risky than EMIM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EVAL.L | EMIM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.04% | 8.56% | -4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.21% | 17.15% | -5.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.39% | 19.18% | -5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.52% | 16.40% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 18.00% | -0.23% |
EVAL.L vs. EMIM.L - Expense Ratio Comparison
EVAL.L has a 0.20% expense ratio, which is higher than EMIM.L's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EVAL.L vs. EMIM.L - Dividend Comparison
Neither EVAL.L nor EMIM.L has paid dividends to shareholders.
Frequently Asked Questions
EVAL.L and EMIM.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMIM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.20% for EVAL.L.
EVAL.L is categorized as Europe Equities, while EMIM.L is Emerging Markets Equities. EVAL.L tracks MSCI Europe Value NR EUR, while EMIM.L tracks MSCI Emerging Markets Investable Market Index (IMI). They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for EVAL.L and 0.18% for EMIM.L.
Find the right allocation for EVAL.L and EMIM.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer