FVEM.DE vs. AYEM.DE
FVEM.DE (Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation) and AYEM.DE (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - FVEM.DE tracks the MSCI Emerging Markets Climate Paris Aligned while AYEM.DE tracks the MSCI Emerging Markets IMI ESG Screened. Both are passively managed. Over the past 3 years, FVEM.DE returned 18.78%/yr vs 21.17%/yr for AYEM.DE. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
FVEM.DE vs. AYEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, FVEM.DE achieves a 25.46% return, which is significantly lower than AYEM.DE's 28.03% return.
FVEM.DE
- 1D
- 0.00%
- 1M
- 0.95%
- YTD
- 25.46%
- 6M
- 26.71%
- 1Y
- 44.73%
- 3Y*
- 18.78%
- 5Y*
- —
- 10Y*
- —
AYEM.DE
- 1D
- 0.53%
- 1M
- 2.28%
- YTD
- 28.03%
- 6M
- 29.61%
- 1Y
- 45.67%
- 3Y*
- 21.17%
- 5Y*
- 8.22%
- 10Y*
- —
FVEM.DE vs. AYEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FVEM.DE Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation | 25.46% | 17.23% | 13.32% | -5.86% |
AYEM.DE iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) | 28.03% | 17.41% | 14.03% | 2.81% |
Correlation
The correlation between FVEM.DE and AYEM.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2023 | 0.91 |
The correlation between FVEM.DE and AYEM.DE has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.
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Return for Risk
FVEM.DE vs. AYEM.DE — Risk / Return Rank
FVEM.DE
AYEM.DE
FVEM.DE vs. AYEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) and iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.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.
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.
| FVEM.DE | AYEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.44 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.23 | 4.13 | +0.10 |
| Martin ratioReturn relative to average drawdown | 15.44 | 14.44 | +1.00 |
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Drawdowns
FVEM.DE vs. AYEM.DE - Drawdown Comparison
The maximum FVEM.DE drawdown since its inception was -18.76%, smaller than the maximum AYEM.DE drawdown of -31.12%. Use the drawdown chart below to compare losses from any high point for FVEM.DE and AYEM.DE.
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Drawdown Indicators
| FVEM.DE | AYEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.76% | -31.12% | +12.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.62% | -11.01% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -18.76% | -19.16% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.43% | — |
Current DrawdownCurrent decline from peak | -4.53% | -4.08% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -4.39% | -8.74% | +4.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.91% | 3.15% | -0.24% |
Volatility
FVEM.DE vs. AYEM.DE - Volatility Comparison
Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) and iShares MSCI EM IMI ESG Screened UCITS ETF USD (Acc) (AYEM.DE) have volatilities of 8.36% and 8.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVEM.DE | AYEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.36% | 8.74% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 16.46% | 16.77% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.01% | 18.99% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.82% | 16.82% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.82% | 19.40% | -2.58% |
FVEM.DE vs. AYEM.DE - Expense Ratio Comparison
Both FVEM.DE and AYEM.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FVEM.DE vs. AYEM.DE - Dividend Comparison
Neither FVEM.DE nor AYEM.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, FVEM.DE and AYEM.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
FVEM.DE and AYEM.DE have the same expense ratio: 0.18% per year.
FVEM.DE tracks MSCI Emerging Markets Climate Paris Aligned, while AYEM.DE tracks MSCI Emerging Markets IMI ESG Screened. They also come from different issuers: Franklin Templeton and iShares.
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