FREM.L vs. ISDE.L
FREM.L (Franklin EM Multi-Factor Equity UCITS ETF USD (Acc)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - FREM.L tracks the LibertyQ Emerging Markets Index-NR while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 5 years, FREM.L returned 6.96%/yr vs 9.96%/yr for ISDE.L. Their correlation of 0.84 suggests significant overlap in exposure. FREM.L charges 0.30%/yr vs 0.85%/yr for ISDE.L.
Performance
FREM.L vs. ISDE.L - Performance Comparison
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Returns By Period
In the year-to-date period, FREM.L achieves a 11.87% return, which is significantly lower than ISDE.L's 38.21% return.
FREM.L
- 1D
- -0.71%
- 1M
- -3.96%
- 6M
- 7.88%
- YTD
- 11.87%
- 1Y
- 21.67%
- 3Y*
- 16.78%
- 5Y*
- 6.96%
- 10Y*
- —
ISDE.L
- 1D
- -2.17%
- 1M
- -15.35%
- 6M
- 28.14%
- YTD
- 38.21%
- 1Y
- 66.38%
- 3Y*
- 23.97%
- 5Y*
- 9.96%
- 10Y*
- 10.80%
FREM.L vs. ISDE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FREM.L Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) | 11.87% | 27.77% | 6.27% | 12.53% | -19.30% | 7.08% | 1.89% | 11.43% | -11.32% | 3.35% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 38.21% | 39.00% | -3.54% | 14.04% | -22.75% | 2.66% | 22.18% | 19.37% | -17.23% | 2.05% |
Correlation
The correlation between FREM.L and ISDE.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2017 | 0.84 |
The correlation between FREM.L and ISDE.L has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
FREM.L vs. ISDE.L — Risk / Return Rank
FREM.L
ISDE.L
FREM.L vs. ISDE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) (FREM.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.
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.
| FREM.L | ISDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.39 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 3.56 | -1.51 |
| Martin ratioReturn relative to average drawdown | 6.30 | 12.95 | -6.65 |
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Drawdowns
FREM.L vs. ISDE.L - Drawdown Comparison
The maximum FREM.L drawdown since its inception was -39.05%, smaller than the maximum ISDE.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for FREM.L and ISDE.L.
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Drawdown Indicators
| FREM.L | ISDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.05% | -65.53% | +26.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -18.56% | +8.04% |
Max Drawdown (3Y)Largest decline over 3 years | -12.98% | -21.83% | +8.85% |
Max Drawdown (5Y)Largest decline over 5 years | -29.99% | -32.16% | +2.17% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.64% | — |
Current DrawdownCurrent decline from peak | -5.08% | -18.56% | +13.48% |
Average DrawdownAverage peak-to-trough decline | -10.94% | -22.77% | +11.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.43% | 5.11% | -1.68% |
Volatility
FREM.L vs. ISDE.L - Volatility Comparison
The current volatility for Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) (FREM.L) is 4.29%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 14.06%. This indicates that FREM.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
| FREM.L | ISDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.29% | 14.06% | -9.77% |
Volatility (6M)Calculated over the trailing 6-month period | 13.63% | 27.81% | -14.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 29.85% | -14.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.34% | 20.61% | -5.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 20.36% | -3.42% |
FREM.L vs. ISDE.L - Expense Ratio Comparison
FREM.L has a 0.30% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.
Dividends
FREM.L vs. ISDE.L - Dividend Comparison
FREM.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FREM.L Franklin EM Multi-Factor Equity UCITS ETF USD (Acc) | 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) | 1.25% | 1.06% | 2.51% | 2.77% | 2.10% | 1.79% | 0.98% | 1.55% | 1.64% | 1.02% | 1.07% | 2.32% |
Frequently Asked Questions
FREM.L and ISDE.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FREM.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FREM.L is cheaper with a 0.30% expense ratio, compared with 0.85% for ISDE.L.
FREM.L tracks LibertyQ Emerging Markets Index-NR, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: Franklin and iShares. Their fees differ too: 0.30% for FREM.L and 0.85% for ISDE.L.
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