GRMN vs. IEMG
GRMN (Garmin Ltd.) is a stock, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, GRMN returned 21.82%/yr vs 8.70%/yr for IEMG. Their 0.47 correlation means their historical movements had little consistent relationship.
Performance
GRMN vs. IEMG - Performance Comparison
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Returns By Period
In the year-to-date period, GRMN achieves a 51.48% return, which is significantly higher than IEMG's 17.13% return. Over the past 10 years, GRMN has outperformed IEMG with an annualized return of 21.82%, while IEMG has yielded a comparatively lower 8.70% annualized return.
GRMN
- 1D
- 3.74%
- 1M
- 26.97%
- 6M
- 48.50%
- YTD
- 51.48%
- 1Y
- 41.62%
- 3Y*
- 44.73%
- 5Y*
- 15.89%
- 10Y*
- 21.82%
- ALL TIME*
- 17.30%
IEMG
- 1D
- 0.64%
- 1M
- -2.17%
- 6M
- 8.11%
- YTD
- 17.13%
- 1Y
- 33.73%
- 3Y*
- 19.02%
- 5Y*
- 7.08%
- 10Y*
- 8.70%
- ALL TIME*
- 6.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
GRMN Garmin Ltd. | $344.10M | $268.25M | $224.41M |
| $832.99M | $964.62M | $1.10B |
GRMN vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRMN Garmin Ltd. | 51.48% | -0.06% | 63.25% | 43.12% | -30.20% | 15.90% | 25.86% | 58.13% | 9.84% | 27.60% |
IEMG iShares Core MSCI Emerging Markets ETF | 17.13% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
Correlation
The correlation between GRMN and IEMG is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.39 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.44 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | 0.47 |
The correlation between GRMN and IEMG shifts across timeframes, from 0.33 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GRMN vs. IEMG — Risk / Return Rank
GRMN
IEMG
GRMN vs. IEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Garmin Ltd. (GRMN) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.
| GRMN | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.46 | -0.96 |
| Martin ratioReturn relative to average drawdown | 3.17 | 7.50 | -4.33 |
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Drawdowns
GRMN vs. IEMG - Drawdown Comparison
The maximum GRMN drawdown since its inception was -87.71%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for GRMN and IEMG.
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Drawdown Indicators
| GRMN | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.71% | -38.71% | -49.00% |
Max Drawdown (1Y)Largest decline over 1 year | -27.97% | -13.78% | -14.19% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -17.21% | -10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -54.63% | -33.61% | -21.02% |
Max Drawdown (10Y)Largest decline over 10 years | -54.63% | -38.71% | -15.92% |
Current DrawdownCurrent decline from peak | 0.00% | -9.17% | +9.17% |
Average DrawdownAverage peak-to-trough decline | -31.41% | -12.89% | -18.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.16% | 4.51% | +8.65% |
Volatility
GRMN vs. IEMG - Volatility Comparison
Garmin Ltd. (GRMN) has a higher volatility of 17.19% compared to iShares Core MSCI Emerging Markets ETF (IEMG) at 8.73%. This indicates that GRMN's price experiences larger fluctuations and is considered to be riskier than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GRMN | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.19% | 8.73% | +8.46% |
Volatility (6M)Calculated over the trailing 6-month period | 27.21% | 21.65% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.18% | 23.74% | +10.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.49% | 19.27% | +12.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.59% | 20.32% | +8.27% |
Dividends
GRMN vs. IEMG - Dividend Comparison
GRMN's dividend yield for the trailing twelve months is around 1.23%, less than IEMG's 2.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRMN Garmin Ltd. | 1.23% | 1.70% | 1.44% | 2.27% | 3.10% | 1.92% | 2.01% | 2.30% | 3.32% | 3.42% | 4.21% | 5.41% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.30% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
GRMN and IEMG have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRMN has higher volatility (17.19%) compared to IEMG (8.73%). In terms of maximum drawdown, GRMN dropped -87.71% vs IEMG's -38.71%.
IEMG currently has the higher Sharpe Ratio (1.43 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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