GEDM.L vs. FLXE.L

Last updated Jun 5, 2026

GEDM.L (iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist)) and FLXE.L (Franklin Emerging Markets UCITS ETF) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and Franklin Templeton respectively. Both are passively managed. Over the past 5 years, GEDM.L returned 6.10%/yr vs 7.79%/yr for FLXE.L. A 0.70 correlation means they provide meaningful diversification when combined. GEDM.L charges 0.18%/yr vs 0.45%/yr for FLXE.L.

Performance

GEDM.L vs. FLXE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist) (GEDM.L) and Franklin Emerging Markets UCITS ETF (FLXE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GEDM.L achieves a 25.28% return, which is significantly higher than FLXE.L's 15.59% return.

GEDM.L

• 1D: -1.42%
• 1M: 4.42%
• YTD: 25.28%
• 6M: 24.64%
• 1Y: 47.14%
• 3Y*: 17.66%
• 5Y*: 6.10%
• 10Y*: —

FLXE.L

• 1D: -0.73%
• 1M: 0.27%
• YTD: 15.59%
• 6M: 14.91%
• 1Y: 33.17%
• 3Y*: 15.98%
• 5Y*: 7.79%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GEDM.L vs. FLXE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GEDM.L iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist)	25.28%	21.46%	6.51%	2.00%	-13.11%	-2.00%	17.86%	-1.37%
FLXE.L Franklin Emerging Markets UCITS ETF	15.59%	18.87%	8.11%	6.48%	-9.68%	8.46%	-1.63%	2.69%

Correlation

The correlation between GEDM.L and FLXE.L is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 28, 2019	0.70

The correlation between GEDM.L and FLXE.L has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

GEDM.L vs. FLXE.L - Sectors Allocation Comparison

Sectors	GEDM.L	FLXE.L
Technology	40.9%	11.9%
Financial Services	18.0%	21.1%
Consumer Cyclical	9.4%	9.5%
Industrials	7.8%	9.8%
Communication Services	6.2%	8.7%
Basic Materials	5.6%	7.5%
Healthcare	3.5%	2.5%
Energy	3.0%	11.7%
Consumer Defensive	2.8%	11.8%
Real Estate	1.7%	2.5%
Utilities	1.2%	3.3%

Return for Risk

GEDM.L vs. FLXE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GEDM.L

GEDM.L Risk / Return Rank: 83
GEDM.L Sharpe Ratio Rank: 87
GEDM.L Sortino Ratio Rank: 82
GEDM.L Omega Ratio Rank: 87
GEDM.L Calmar Ratio Rank: 82
GEDM.L Martin Ratio Rank: 77

FLXE.L

FLXE.L Risk / Return Rank: 76
FLXE.L Sharpe Ratio Rank: 82
FLXE.L Sortino Ratio Rank: 84
FLXE.L Omega Ratio Rank: 79
FLXE.L Calmar Ratio Rank: 67
FLXE.L Martin Ratio Rank: 67

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.

GEDM.L vs. FLXE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist) (GEDM.L) and Franklin Emerging Markets UCITS ETF (FLXE.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.

	GEDM.L	FLXE.L	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.63	+0.21
Sortino ratio: Return per unit of downside risk	3.62	3.73	-0.10
Omega ratio: Gain probability vs. loss probability	1.53	1.46	+0.06
Calmar ratio: Return relative to maximum drawdown	4.24	3.31	+0.93
Martin ratio: Return relative to average drawdown	14.72	12.16	+2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GEDM.L vs. FLXE.L - Sharpe Ratio Comparison

The current GEDM.L Sharpe Ratio is 2.85, which is comparable to the FLXE.L Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of GEDM.L and FLXE.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.

Sharpe Ratios by Period

	GEDM.L	FLXE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.85	2.63	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.60	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.35	+0.15

Drawdowns

GEDM.L vs. FLXE.L - Drawdown Comparison

The maximum GEDM.L drawdown since its inception was -27.84%, which is greater than FLXE.L's maximum drawdown of -26.37%. Use the drawdown chart below to compare losses from any high point for GEDM.L and FLXE.L.

Drawdown Indicators

	GEDM.L	FLXE.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.84%	-26.37%	-1.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.47%	-10.11%	-1.36%
Max Drawdown (3Y) Largest decline over 3 years	-16.11%	-10.93%	-5.18%
Max Drawdown (5Y) Largest decline over 5 years	-24.79%	-16.31%	-8.48%
Current Drawdown Current decline from peak	-2.14%	-1.82%	-0.32%
Average Drawdown Average peak-to-trough decline	-13.15%	-5.98%	-7.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	2.75%	+0.54%

Volatility

GEDM.L vs. FLXE.L - Volatility Comparison

iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist) (GEDM.L) has a higher volatility of 7.23% compared to Franklin Emerging Markets UCITS ETF (FLXE.L) at 4.62%. This indicates that GEDM.L's price experiences larger fluctuations and is considered to be riskier than FLXE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GEDM.L	FLXE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	4.62%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	14.62%	10.77%	+3.85%
Volatility (1Y) Calculated over the trailing 1-year period	17.10%	12.71%	+4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	13.03%	+3.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.98%	15.45%	+3.53%

GEDM.L vs. FLXE.L - Expense Ratio Comparison

GEDM.L has a 0.18% expense ratio, which is lower than FLXE.L's 0.45% expense ratio.

Dividends

GEDM.L vs. FLXE.L - Dividend Comparison

GEDM.L's dividend yield for the trailing twelve months is around 0.02%, while FLXE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FLXE.L Franklin Emerging Markets UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GEDM.L iShares MSCI EM IMI ESG Screened UCITS ETF USD (Dist)	0.02%	0.02%	0.02%	0.02%	0.03%	0.02%	0.02%	0.01%

Frequently Asked Questions

Can I hold both GEDM.L and FLXE.L in my portfolio?

GEDM.L and FLXE.L have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GEDM.L or FLXE.L?

On fees, GEDM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GEDM.L or FLXE.L?

GEDM.L is cheaper with a 0.18% expense ratio, compared with 0.45% for FLXE.L.

What is the main difference between GEDM.L and FLXE.L?

Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.18% for GEDM.L and 0.45% for FLXE.L.