I500.L vs. EMIM.L
I500.L (iShares S&P 500 Swap UCITS ETF) and EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - I500.L is a S&P 500 fund tracking the S&P 500 Net Dividends Reinvested Index (Net USD), while EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, I500.L returned 15.15%/yr vs 8.76%/yr for EMIM.L. A 0.54 correlation means they provide meaningful diversification when combined. I500.L charges 0.07%/yr vs 0.18%/yr for EMIM.L.
Performance
I500.L vs. EMIM.L - Performance Comparison
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Different Trading Currencies
I500.L is traded in GBP, while EMIM.L is traded in GBp. To make them comparable, the EMIM.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, I500.L achieves a 10.61% return, which is significantly lower than EMIM.L's 24.23% return.
I500.L
- 1D
- 0.05%
- 1M
- 4.55%
- YTD
- 10.61%
- 6M
- 9.88%
- 1Y
- 29.25%
- 3Y*
- 19.22%
- 5Y*
- 15.15%
- 10Y*
- —
EMIM.L
- 1D
- -1.35%
- 1M
- 3.19%
- YTD
- 24.23%
- 6M
- 25.19%
- 1Y
- 49.71%
- 3Y*
- 20.15%
- 5Y*
- 8.76%
- 10Y*
- 11.09%
I500.L vs. EMIM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
I500.L iShares S&P 500 Swap UCITS ETF | 10.61% | 9.56% | 27.57% | 20.04% | -8.74% | 31.23% | 5.72% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.66% |
Correlation
The correlation between I500.L and EMIM.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2020 | 0.54 |
The correlation between I500.L and EMIM.L has been stable across timeframes, ranging from 0.53 to 0.61 - a consistent structural relationship.
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Return for Risk
I500.L vs. EMIM.L — Risk / Return Rank
I500.L
EMIM.L
I500.L vs. EMIM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Swap UCITS ETF (I500.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.
| I500.L | EMIM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.57 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 4.63 | -0.51 |
| Martin ratioReturn relative to average drawdown | 15.23 | 16.57 | -1.34 |
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
| I500.L | EMIM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.81 | 3.04 | -0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | 0.55 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.49 | +0.65 |
Drawdowns
I500.L vs. EMIM.L - Drawdown Comparison
The maximum I500.L drawdown since its inception was -20.75%, smaller than the maximum EMIM.L drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for I500.L and EMIM.L.
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Drawdown Indicators
| I500.L | EMIM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.75% | -31.70% | +10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.08% | -10.92% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -20.75% | -15.56% | -5.19% |
Max Drawdown (5Y)Largest decline over 5 years | -20.75% | -21.98% | +1.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.46% | — |
Current DrawdownCurrent decline from peak | -0.23% | -2.39% | +2.16% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -8.71% | +5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 3.06% | -1.14% |
Volatility
I500.L vs. EMIM.L - Volatility Comparison
The current volatility for iShares S&P 500 Swap UCITS ETF (I500.L) is 2.59%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a volatility of 7.03%. This indicates that I500.L experiences smaller price fluctuations and is considered to be less risky than EMIM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| I500.L | EMIM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.59% | 7.03% | -4.44% |
Volatility (6M)Calculated over the trailing 6-month period | 7.12% | 14.14% | -7.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.40% | 16.67% | -6.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 15.82% | -1.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.30% | 17.81% | -3.51% |
I500.L vs. EMIM.L - Expense Ratio Comparison
I500.L has a 0.07% expense ratio, which is lower than EMIM.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
I500.L vs. EMIM.L - Dividend Comparison
Neither I500.L nor EMIM.L has paid dividends to shareholders.
Frequently Asked Questions
I500.L and EMIM.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, I500.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
I500.L is cheaper with a 0.07% expense ratio, compared with 0.18% for EMIM.L.
I500.L is categorized as S&P 500, while EMIM.L is Emerging Markets Equities. I500.L tracks S&P 500 Net Dividends Reinvested Index (Net USD), while EMIM.L tracks MSCI EM NR USD. Their fees differ too: 0.07% for I500.L and 0.18% for EMIM.L.
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