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FEML.L vs. WLDS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEML.L vs. WLDS.L

Last updated Jul 14, 2026
Documentation

FEML.L (Fidelity Emerging Markets Ltd) is a stock, while WLDS.L (iShares MSCI World Small Cap UCITS ETF) is Small Cap Blend Equities fund tracking the MSCI World Small Cap Index. Over the past 5 years, FEML.L returned 11.50%/yr vs 8.21%/yr for WLDS.L. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

FEML.L vs. WLDS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Emerging Markets Ltd (FEML.L) and iShares MSCI World Small Cap UCITS ETF (WLDS.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FEML.L is traded in GBp, while WLDS.L is traded in GBP. To make them comparable, the WLDS.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEML.L achieves a 34.52% return, which is significantly higher than WLDS.L's 14.81% return.

FEML.L

1D
-3.11%
1M
0.99%
6M
29.19%
YTD
34.52%
1Y
80.04%
3Y*
37.71%
5Y*
11.50%
10Y*
11.28%

WLDS.L

1D
-0.26%
1M
-0.51%
6M
9.77%
YTD
14.81%
1Y
26.84%
3Y*
14.97%
5Y*
8.21%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEML.L vs. WLDS.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FEML.L
Fidelity Emerging Markets Ltd		34.52%56.56%15.43%4.39%-25.29%-6.66%13.69%26.41%-4.78%
WLDS.L
iShares MSCI World Small Cap UCITS ETF		14.81%11.75%8.63%11.26%-8.89%16.71%12.54%20.41%-31.05%

Correlation

The correlation between FEML.L and WLDS.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.45

Correlation (All Time)
Calculated using the full available price history since Mar 27, 2018

0.51

The correlation between FEML.L and WLDS.L has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Emerging Markets Ltd

iShares MSCI World Small Cap UCITS ETF

Often compared with FEML.L:
FEML.L vs. TEDMXFEML.L vs. BRWM.LFEML.L vs. TP05.LFEML.L vs. IWDP.LFEML.L vs. IWFV.LFEML.L vs. IB01.LFEML.L vs. IWFQ.L
Often compared with WLDS.L:
WLDS.L vs. WOSC.LWLDS.L vs. AVSG.LWLDS.L vs. URTHWLDS.L vs. EQGB.LWLDS.L vs. XRSG.LWLDS.L vs. EXUS.LWLDS.L vs. VUAA.L

Return for Risk

FEML.L vs. WLDS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEML.L
FEML.L Risk / Return Rank: 9797
Overall Rank
FEML.L Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
FEML.L Sortino Ratio Rank: 9898
Sortino Ratio Rank
FEML.L Omega Ratio Rank: 9898
Omega Ratio Rank
FEML.L Calmar Ratio Rank: 9595
Calmar Ratio Rank
FEML.L Martin Ratio Rank: 9797
Martin Ratio Rank
WLDS.L
WLDS.L Risk / Return Rank: 8080
Overall Rank
WLDS.L Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
WLDS.L Sortino Ratio Rank: 8282
Sortino Ratio Rank
WLDS.L Omega Ratio Rank: 7777
Omega Ratio Rank
WLDS.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
WLDS.L Martin Ratio Rank: 8282
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FEML.L vs. WLDS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Ltd (FEML.L) and iShares MSCI World Small Cap UCITS ETF (WLDS.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.

FEML.LWLDS.LDifference
Sharpe ratioReturn per unit of total volatility
3.81
2.02

+1.79

Sortino ratioReturn per unit of downside risk
4.45
2.88

+1.57

Omega ratioGain probability vs. loss probability

1.66

1.36

+0.30

Calmar ratioReturn relative to maximum drawdown

5.31

3.40

+1.91

Martin ratioReturn relative to average drawdown

20.03

12.56

+7.47

FEML.L vs. WLDS.L - Sharpe Ratio Comparison

The current FEML.L Sharpe Ratio is 3.81, which is higher than the WLDS.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of FEML.L and WLDS.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FEML.L vs. WLDS.L - Drawdown Comparison

The maximum FEML.L drawdown since its inception was -60.17%, which is greater than WLDS.L's maximum drawdown of -43.18%. Use the drawdown chart below to compare losses from any high point for FEML.L and WLDS.L.

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Drawdown Indicators

FEML.LWLDS.LDifference

Max Drawdown

Largest peak-to-trough decline

-60.17%

-43.18%

-16.99%

Max Drawdown (1Y)

Largest decline over 1 year

-14.98%

-7.86%

-7.12%

Max Drawdown (3Y)

Largest decline over 3 years

-14.98%

-21.53%

+6.55%

Max Drawdown (5Y)

Largest decline over 5 years

-38.41%

-21.53%

-16.88%

Max Drawdown (10Y)

Largest decline over 10 years

-40.75%

—

—

Current Drawdown

Current decline from peak

-8.19%

-2.76%

-5.43%

Average Drawdown

Average peak-to-trough decline

-21.33%

-12.17%

-9.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.98%

2.13%

+1.85%

Volatility

FEML.L vs. WLDS.L - Volatility Comparison

Fidelity Emerging Markets Ltd (FEML.L) has a higher volatility of 9.10% compared to iShares MSCI World Small Cap UCITS ETF (WLDS.L) at 4.25%. This indicates that FEML.L's price experiences larger fluctuations and is considered to be riskier than WLDS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEML.LWLDS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.10%

4.25%

+4.85%

Volatility (6M)

Calculated over the trailing 6-month period

18.50%

10.25%

+8.25%

Volatility (1Y)

Calculated over the trailing 1-year period

20.93%

13.23%

+7.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.45%

20.35%

-1.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.47%

22.38%

-3.91%

Dividends

FEML.L vs. WLDS.L - Dividend Comparison

FEML.L's dividend yield for the trailing twelve months is around 1.38%, while WLDS.L has not paid dividends to shareholders.

PositionTTM202520242023202220212020201920182017
FEML.L
Fidelity Emerging Markets Ltd		1.38%1.86%2.26%1.99%1.90%1.22%1.10%1.45%1.81%1.12%
WLDS.L
iShares MSCI World Small Cap UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FEML.L and WLDS.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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