HAGHY vs. IEMG

Last updated Jun 6, 2026

HAGHY (Hensoldt AG) 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 3 years, HAGHY returned 43.28%/yr vs 20.12%/yr for IEMG. At a 0.12 correlation, their price movements are largely independent.

Performance

HAGHY vs. IEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hensoldt AG (HAGHY) and iShares Core MSCI Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HAGHY achieves a 4.58% return, which is significantly lower than IEMG's 16.97% return.

HAGHY

• 1D: -1.53%
• 1M: -4.67%
• YTD: 4.58%
• 6M: 13.65%
• 1Y: -26.16%
• 3Y*: 43.28%
• 5Y*: —
• 10Y*: —

IEMG

• 1D: -6.40%
• 1M: -4.75%
• YTD: 16.97%
• 6M: 18.63%
• 1Y: 39.01%
• 3Y*: 20.12%
• 5Y*: 5.95%
• 10Y*: 9.39%

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

HAGHY vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HAGHY Hensoldt AG	4.58%	144.40%	31.10%	15.83%	-18.22%
IEMG iShares Core MSCI Emerging Markets ETF	16.97%	32.56%	6.50%	11.52%	-15.39%

Correlation

The correlation between HAGHY and IEMG is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (All Time) Calculated using the full available price history since Mar 3, 2022	0.12

The correlation between HAGHY and IEMG shifts across timeframes, from 0.12 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

HAGHY vs. IEMG — Risk / Return Rank

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

HAGHY

HAGHY Risk / Return Rank: 22
HAGHY Sharpe Ratio Rank: 22
HAGHY Sortino Ratio Rank: 23
HAGHY Omega Ratio Rank: 24
HAGHY Calmar Ratio Rank: 20
HAGHY Martin Ratio Rank: 21

IEMG

IEMG Risk / Return Rank: 59
IEMG Sharpe Ratio Rank: 58
IEMG Sortino Ratio Rank: 52
IEMG Omega Ratio Rank: 61
IEMG Calmar Ratio Rank: 61
IEMG Martin Ratio Rank: 64

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.

HAGHY vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hensoldt AG (HAGHY) 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.

	HAGHY	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	1.91	-2.37
Sortino ratio: Return per unit of downside risk	-0.36	2.49	-2.84
Omega ratio: Gain probability vs. loss probability	0.96	1.37	-0.40
Calmar ratio: Return relative to maximum drawdown	-0.61	2.97	-3.58
Martin ratio: Return relative to average drawdown	-1.02	11.26	-12.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAGHY vs. IEMG - Sharpe Ratio Comparison

The current HAGHY Sharpe Ratio is -0.46, which is lower than the IEMG Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of HAGHY and IEMG, 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

	HAGHY	IEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	1.91	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.32	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.32	+0.23

Drawdowns

HAGHY vs. IEMG - Drawdown Comparison

The maximum HAGHY drawdown since its inception was -42.91%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for HAGHY and IEMG.

Drawdown Indicators

	HAGHY	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-42.91%	-38.71%	-4.20%
Max Drawdown (1Y) Largest decline over 1 year	-42.91%	-13.21%	-29.70%
Max Drawdown (3Y) Largest decline over 3 years	-42.91%	-17.21%	-25.70%
Max Drawdown (5Y) Largest decline over 5 years	—	-35.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.71%	—
Current Drawdown Current decline from peak	-32.75%	-8.56%	-24.19%
Average Drawdown Average peak-to-trough decline	-20.38%	-12.97%	-7.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.76%	3.47%	+22.29%

Volatility

HAGHY vs. IEMG - Volatility Comparison

Hensoldt AG (HAGHY) has a higher volatility of 18.14% compared to iShares Core MSCI Emerging Markets ETF (IEMG) at 10.23%. This indicates that HAGHY'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.

Volatility by Period

	HAGHY	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.14%	10.23%	+7.91%
Volatility (6M) Calculated over the trailing 6-month period	40.73%	18.28%	+22.45%
Volatility (1Y) Calculated over the trailing 1-year period	57.38%	20.52%	+36.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	56.66%	18.60%	+38.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	56.66%	20.13%	+36.53%

Dividends

HAGHY vs. IEMG - Dividend Comparison

HAGHY's dividend yield for the trailing twelve months is around 0.72%, less than IEMG's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HAGHY Hensoldt AG	0.72%	0.63%	1.20%	1.19%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IEMG iShares Core MSCI Emerging Markets ETF	2.35%	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

Can I hold both HAGHY and IEMG in my portfolio?

HAGHY and IEMG have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAGHY or IEMG?

HAGHY has higher volatility (18.14%) compared to IEMG (10.23%). In terms of maximum drawdown, HAGHY dropped -42.91% vs IEMG's -38.71%.

Which has better risk-adjusted returns?

IEMG currently has the higher Sharpe Ratio (1.91 vs -0.46), 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.