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FEMQ.L vs. ISDE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FEMQ.L vs. ISDE.L

Last updated Jun 5, 2026

FEMQ.L (Fidelity Emerging Markets Quality Income UCITS ETF) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - FEMQ.L tracks the MSCI EM NR USD while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 5 years, FEMQ.L returned 9.81%/yr vs 14.04%/yr for ISDE.L. Their correlation of 0.80 suggests significant overlap in exposure. FEMQ.L charges 0.50%/yr vs 0.85%/yr for ISDE.L.

Performance

FEMQ.L vs. ISDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

FEMQ.L is traded in GBP, while ISDE.L is traded in USD. To make them comparable, the ISDE.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEMQ.L achieves a 34.78% return, which is significantly lower than ISDE.L's 60.76% return.

FEMQ.L

1D
-1.83%
1M
10.66%
YTD
34.78%
6M
35.19%
1Y
57.18%
3Y*
23.41%
5Y*
9.81%
10Y*
—

ISDE.L

1D
-2.79%
1M
14.45%
YTD
60.76%
6M
63.75%
1Y
109.18%
3Y*
28.97%
5Y*
14.04%
10Y*
13.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FEMQ.L vs. ISDE.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FEMQ.L
Fidelity Emerging Markets Quality Income UCITS ETF		34.78%20.96%6.49%9.64%-15.02%7.70%9.31%13.76%-9.24%2.50%
ISDE.L
iShares MSCI EM Islamic UCITS ETF USD (Dist)		60.76%30.46%-1.86%8.28%-13.53%3.61%18.62%14.85%-12.37%-1.23%

Correlation

The correlation between FEMQ.L and ISDE.L is 0.73, 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

0.73

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

0.73

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

0.74

Correlation (All Time)
Calculated using the full available price history since Nov 2, 2017

0.80

The correlation between FEMQ.L and ISDE.L has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

FEMQ.L vs. ISDE.L - Sectors Allocation Comparison

Sectors
FEMQ.L
ISDE.L

Technology

49.5%
48.0%

Financial Services

16.6%
3.7%

Consumer Cyclical

9.6%
5.3%

Industrials

7.1%
8.6%

Basic Materials

5.2%
12.2%

Energy

3.2%
10.1%

Communication Services

2.3%
0.9%

Consumer Defensive

1.9%
3.3%

Healthcare

1.8%
4.8%

Utilities

1.7%
2.3%

Real Estate

1.2%
0.9%

Technology

FEMQ.L
49.5%
ISDE.L
48.0%

Financial Services

FEMQ.L
16.6%
ISDE.L
3.7%

Consumer Cyclical

FEMQ.L
9.6%
ISDE.L
5.3%

Industrials

FEMQ.L
7.1%
ISDE.L
8.6%

Basic Materials

FEMQ.L
5.2%
ISDE.L
12.2%

Energy

FEMQ.L
3.2%
ISDE.L
10.1%

Communication Services

FEMQ.L
2.3%
ISDE.L
0.9%

Consumer Defensive

FEMQ.L
1.9%
ISDE.L
3.3%

Healthcare

FEMQ.L
1.8%
ISDE.L
4.8%

Utilities

FEMQ.L
1.7%
ISDE.L
2.3%

Real Estate

FEMQ.L
1.2%
ISDE.L
0.9%

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 Quality Income UCITS ETF

iShares MSCI EM Islamic UCITS ETF USD (Dist)

Often compared with FEMQ.L:
FEMQ.L vs. EMIM.LFEMQ.L vs. EMV.LFEMQ.L vs. FEMD.LFEMQ.L vs. FSMP.LFEMQ.L vs. FUSS.LFEMQ.L vs. FGLS.LFEMQ.L vs. FEM.L
Often compared with ISDE.L:
ISDE.L vs. JRDM.LISDE.L vs. VDEM.LISDE.L vs. LEML.LISDE.L vs. VFEG.LISDE.L vs. PRAM.LISDE.L vs. EDG2.LISDE.L vs. IUIT.L

Return for Risk

FEMQ.L vs. ISDE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEMQ.L
FEMQ.L Risk / Return Rank: 9393
Overall Rank
FEMQ.L Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
FEMQ.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
FEMQ.L Omega Ratio Rank: 9494
Omega Ratio Rank
FEMQ.L Calmar Ratio Rank: 9393
Calmar Ratio Rank
FEMQ.L Martin Ratio Rank: 9191
Martin Ratio Rank
ISDE.L
ISDE.L Risk / Return Rank: 9595
Overall Rank
ISDE.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
ISDE.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
ISDE.L Omega Ratio Rank: 9595
Omega Ratio Rank
ISDE.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
ISDE.L Martin Ratio Rank: 9595
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.

FEMQ.L vs. ISDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.L) and iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.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.

FEMQ.LISDE.LDifference
Sharpe ratioReturn per unit of total volatility
3.52
4.61

-1.10

Sortino ratioReturn per unit of downside risk
4.87
5.26

-0.39

Omega ratioGain probability vs. loss probability

1.67

1.79

-0.12

Calmar ratioReturn relative to maximum drawdown

6.48

8.63

-2.15

Martin ratioReturn relative to average drawdown

21.32

31.10

-9.78

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEMQ.L vs. ISDE.L - Sharpe Ratio Comparison

The current FEMQ.L Sharpe Ratio is 3.52, which is comparable to the ISDE.L Sharpe Ratio of 4.61. The chart below compares the historical Sharpe Ratios of FEMQ.L and ISDE.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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Sharpe Ratios by Period

FEMQ.LISDE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.52

4.61

-1.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.79

-0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.72

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.36

+0.13

Drawdowns

FEMQ.L vs. ISDE.L - Drawdown Comparison

The maximum FEMQ.L drawdown since its inception was -28.13%, smaller than the maximum ISDE.L drawdown of -46.71%. Use the drawdown chart below to compare losses from any high point for FEMQ.L and ISDE.L.

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Drawdown Indicators

FEMQ.LISDE.LDifference

Max Drawdown

Largest peak-to-trough decline

-28.13%

-46.71%

+18.58%

Max Drawdown (1Y)

Largest decline over 1 year

-8.78%

-12.58%

+3.80%

Max Drawdown (3Y)

Largest decline over 3 years

-14.75%

-21.66%

+6.91%

Max Drawdown (5Y)

Largest decline over 5 years

-25.31%

-21.66%

-3.65%

Max Drawdown (10Y)

Largest decline over 10 years

—

-26.22%

—

Current Drawdown

Current decline from peak

-4.07%

-3.34%

-0.73%

Average Drawdown

Average peak-to-trough decline

-8.03%

-14.03%

+6.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

3.50%

-0.83%

Volatility

FEMQ.L vs. ISDE.L - Volatility Comparison

The current volatility for Fidelity Emerging Markets Quality Income UCITS ETF (FEMQ.L) is 9.03%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 11.38%. This indicates that FEMQ.L experiences smaller price fluctuations and is considered to be less risky than ISDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FEMQ.LISDE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.03%

11.38%

-2.35%

Volatility (6M)

Calculated over the trailing 6-month period

14.19%

20.94%

-6.75%

Volatility (1Y)

Calculated over the trailing 1-year period

16.18%

23.54%

-7.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.00%

17.76%

-2.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.50%

19.28%

-1.78%

FEMQ.L vs. ISDE.L - Expense Ratio Comparison

FEMQ.L has a 0.50% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.

Dividends

FEMQ.L vs. ISDE.L - Dividend Comparison

FEMQ.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.08%.

PositionTTM20252024202320222021202020192018201720162015
FEMQ.L
Fidelity Emerging Markets Quality Income 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%
ISDE.L
iShares MSCI EM Islamic UCITS ETF USD (Dist)		1.08%1.86%2.51%2.77%2.10%1.79%0.98%1.55%1.64%1.02%1.07%2.32%

Frequently Asked Questions

FEMQ.L and ISDE.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FEMQ.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FEMQ.L is cheaper with a 0.50% expense ratio, compared with 0.85% for ISDE.L.

FEMQ.L tracks MSCI EM NR USD, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.50% for FEMQ.L and 0.85% for ISDE.L.

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