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IAK vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. EEM

Last updated Jun 14, 2026

IAK (iShares U.S. Insurance ETF) and EEM (iShares MSCI Emerging Markets ETF) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while EEM is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net). Both are passively managed. Over the past 10 years, IAK returned 12.67%/yr vs 9.91%/yr for EEM. A 0.52 correlation means they provide meaningful diversification when combined. IAK charges 0.43%/yr vs 0.72%/yr for EEM.

Performance

IAK vs. EEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAK achieves a 1.11% return, which is significantly lower than EEM's 24.07% return. Over the past 10 years, IAK has outperformed EEM with an annualized return of 12.67%, while EEM has yielded a comparatively lower 9.91% annualized return.

IAK

1D
0.68%
1M
2.70%
YTD
1.11%
6M
0.88%
1Y
5.16%
3Y*
18.27%
5Y*
13.37%
10Y*
12.67%

EEM

1D
0.56%
1M
4.32%
YTD
24.07%
6M
26.94%
1Y
47.57%
3Y*
21.60%
5Y*
6.56%
10Y*
9.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAK vs. EEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAK
iShares U.S. Insurance ETF		1.11%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%
EEM
iShares MSCI Emerging Markets ETF		24.07%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%

Correlation

The correlation between IAK and EEM is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.07

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (5Y)
Calculated over the trailing 5-year period

0.25

Correlation (10Y)
Calculated over the trailing 10-year period

0.34

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.52

The correlation between IAK and EEM shifts across timeframes, from -0.07 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

IAK vs. EEM - Sectors Allocation Comparison

Sectors
IAK
EEM

Financial Services

99.4%
17.7%

Healthcare

0.6%
2.5%

Basic Materials

-

5.9%

Communication Services

-

6.0%

Consumer Cyclical

-

8.3%

Consumer Defensive

-

2.5%

Energy

-

3.4%

Industrials

-

6.6%

Real Estate

-

1.0%

Technology

-

44.3%

Utilities

-

1.8%

Financial Services

IAK
99.4%
EEM
17.7%

Healthcare

IAK
0.6%
EEM
2.5%

Basic Materials

IAK

-

EEM
5.9%

Communication Services

IAK

-

EEM
6.0%

Consumer Cyclical

IAK

-

EEM
8.3%

Consumer Defensive

IAK

-

EEM
2.5%

Energy

IAK

-

EEM
3.4%

Industrials

IAK

-

EEM
6.6%

Real Estate

IAK

-

EEM
1.0%

Technology

IAK

-

EEM
44.3%

Utilities

IAK

-

EEM
1.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Insurance ETF

iShares MSCI Emerging Markets ETF

Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. VYMIAK vs. VTI
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM

Return for Risk

IAK vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAK
IAK Risk / Return Rank: 1515
Overall Rank
IAK Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 1313
Sortino Ratio Rank
IAK Omega Ratio Rank: 1313
Omega Ratio Rank
IAK Calmar Ratio Rank: 1717
Calmar Ratio Rank
IAK Martin Ratio Rank: 1616
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 7575
Overall Rank
EEM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7070
Sortino Ratio Rank
EEM Omega Ratio Rank: 7878
Omega Ratio Rank
EEM Calmar Ratio Rank: 7575
Calmar Ratio Rank
EEM Martin Ratio Rank: 7575
Martin Ratio Rank
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.

IAK vs. EEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and iShares MSCI Emerging Markets ETF (EEM). 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.

IAKEEMDifference
Sharpe ratioReturn per unit of total volatility
0.29
2.10

-1.81

Sortino ratioReturn per unit of downside risk
0.50
2.73

-2.23

Omega ratioGain probability vs. loss probability

1.06

1.40

-0.34

Calmar ratioReturn relative to maximum drawdown

0.57

3.36

-2.79

Martin ratioReturn relative to average drawdown

1.27

12.38

-11.11

IAK vs. EEM - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 0.29, which is lower than the EEM Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IAK and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IAK vs. EEM - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, which is greater than EEM's maximum drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for IAK and EEM.

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Drawdown Indicators

IAKEEMDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-66.43%

-10.95%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-13.52%

+5.90%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

-17.29%

+5.71%

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

-37.49%

+22.73%

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

-39.82%

-5.13%

Current Drawdown

Current decline from peak

-0.23%

-4.12%

+3.89%

Average Drawdown

Average peak-to-trough decline

-16.11%

-16.00%

-0.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.41%

3.67%

-0.26%

Volatility

IAK vs. EEM - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 5.49%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 10.80%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAKEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.49%

10.80%

-5.31%

Volatility (6M)

Calculated over the trailing 6-month period

10.75%

19.39%

-8.64%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

21.64%

-6.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.14%

19.26%

-1.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.92%

20.64%

+0.28%

IAK vs. EEM - Expense Ratio Comparison

IAK has a 0.43% expense ratio, which is lower than EEM's 0.72% expense ratio.

Dividends

IAK vs. EEM - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.60%, more than EEM's 1.79% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.79%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
IAK
iShares U.S. Insurance ETF		2.60%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%

Frequently Asked Questions

IAK and EEM have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (10.80%) compared to IAK (5.49%). In terms of maximum drawdown, IAK dropped -77.38% vs EEM's -66.43%.

On 10-year performance, IAK leads with 12.67% vs 9.91% for EEM. On fees, IAK is cheaper at 0.43% per year. On volatility, IAK has been the lower-risk option at 5.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 12.67% return vs 9.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.43% expense ratio, compared with 0.72% for EEM.

IAK has the higher dividend yield at 2.60%, compared with 1.79% for EEM.

IAK is categorized as Financials Equities, while EEM is Emerging Markets Diversified. IAK tracks Dow Jones U.S. Select Insurance Index, while EEM tracks MSCI Emerging Markets Index (Net). Their fees differ too: 0.43% for IAK and 0.72% for EEM.

EEM currently has the higher Sharpe Ratio (2.10 vs 0.29), 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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