GRMN vs. IEMG
GRMN (Garmin Ltd.) is a stock, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, GRMN returned 22.06%/yr vs 10.41%/yr for IEMG. At a 0.48 correlation, their price movements are largely independent.
Performance
GRMN vs. IEMG - Performance Comparison
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Returns By Period
In the year-to-date period, GRMN achieves a 17.75% return, which is significantly lower than IEMG's 26.21% return. Over the past 10 years, GRMN has outperformed IEMG with an annualized return of 22.06%, while IEMG has yielded a comparatively lower 10.41% annualized return.
GRMN
- 1D
- -1.28%
- 1M
- -0.28%
- YTD
- 17.75%
- 6M
- 20.26%
- 1Y
- 18.27%
- 3Y*
- 33.24%
- 5Y*
- 13.02%
- 10Y*
- 22.06%
IEMG
- 1D
- -1.34%
- 1M
- 7.97%
- YTD
- 26.21%
- 6M
- 28.63%
- 1Y
- 52.58%
- 3Y*
- 23.55%
- 5Y*
- 7.58%
- 10Y*
- 10.41%
GRMN vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GRMN Garmin Ltd. | 17.75% | -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 | 26.21% | 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 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | 0.48 |
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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.
| GRMN | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.11 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.50 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 4.00 | -3.34 |
| Martin ratioReturn relative to average drawdown | 1.45 | 15.38 | -13.93 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GRMN | IEMG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 2.72 | -2.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.41 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.52 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.35 | +0.10 |
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% | -13.21% | -14.76% |
Max Drawdown (3Y)Largest decline over 3 years | -27.97% | -17.21% | -10.76% |
Max Drawdown (5Y)Largest decline over 5 years | -54.63% | -35.83% | -18.80% |
Max Drawdown (10Y)Largest decline over 10 years | -54.63% | -38.71% | -15.92% |
Current DrawdownCurrent decline from peak | -11.06% | -1.34% | -9.72% |
Average DrawdownAverage peak-to-trough decline | -31.54% | -12.97% | -18.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.65% | 3.43% | +9.22% |
Volatility
GRMN vs. IEMG - Volatility Comparison
Garmin Ltd. (GRMN) and iShares Core MSCI Emerging Markets ETF (IEMG) have volatilities of 8.32% and 8.31%, 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
| GRMN | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.32% | 8.31% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 22.04% | 16.93% | +5.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.94% | 19.43% | +10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.36% | 18.38% | +11.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.33% | 20.03% | +8.30% |
Dividends
GRMN vs. IEMG - Dividend Comparison
GRMN's dividend yield for the trailing twelve months is around 1.51%, less than IEMG's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GRMN Garmin Ltd. | 1.51% | 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 | 2.18% | 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 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GRMN has higher volatility (8.32%) compared to IEMG (8.31%). In terms of maximum drawdown, GRMN dropped -87.71% vs IEMG's -38.71%.
IEMG currently has the higher Sharpe Ratio (2.72 vs 0.61), 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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