ICBU.L vs. EIMI.L
ICBU.L (iShares USD Intermediate Credit Bond UCITS ETF) and EIMI.L (iShares Core MSCI EM IMI UCITS ETF) are both exchange-traded funds - ICBU.L is a Corporate Bonds fund tracking the Bloomberg US Corp Bond TR USD, while EIMI.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index. Both are passively managed. Over the past 5 years, ICBU.L returned 1.73%/yr vs 7.61%/yr for EIMI.L. At a 0.14 correlation, their price movements are largely independent. ICBU.L charges 0.15%/yr vs 0.18%/yr for EIMI.L.
Performance
ICBU.L vs. EIMI.L - Performance Comparison
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Returns By Period
In the year-to-date period, ICBU.L achieves a 0.45% return, which is significantly lower than EIMI.L's 24.25% return.
ICBU.L
- 1D
- 0.20%
- 1M
- 0.20%
- YTD
- 0.45%
- 6M
- 0.86%
- 1Y
- 4.93%
- 3Y*
- 5.47%
- 5Y*
- 1.73%
- 10Y*
- —
EIMI.L
- 1D
- -1.30%
- 1M
- 4.51%
- YTD
- 24.25%
- 6M
- 27.21%
- 1Y
- 49.41%
- 3Y*
- 23.30%
- 5Y*
- 7.61%
- 10Y*
- 10.26%
ICBU.L vs. EIMI.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 0.45% | 7.60% | 4.08% | 6.74% | -9.04% | -1.35% | 6.50% | 9.92% | -0.45% | 1.36% |
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 24.25% | 32.16% | 7.36% | 11.03% | -19.67% | -0.65% | 18.80% | 16.37% | -14.17% | 20.47% |
Correlation
The correlation between ICBU.L and EIMI.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.26 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017 | 0.14 |
Over the past year, ICBU.L and EIMI.L have become more correlated (0.37) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
ICBU.L vs. EIMI.L — Risk / Return Rank
ICBU.L
EIMI.L
ICBU.L vs. EIMI.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) and iShares Core MSCI EM IMI UCITS ETF (EIMI.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.
| ICBU.L | EIMI.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.94 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.47 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 3.88 | -1.59 |
| Martin ratioReturn relative to average drawdown | 8.55 | 14.02 | -5.46 |
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
| ICBU.L | EIMI.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 2.56 | -0.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.42 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.36 | +0.26 |
Drawdowns
ICBU.L vs. EIMI.L - Drawdown Comparison
The maximum ICBU.L drawdown since its inception was -13.92%, smaller than the maximum EIMI.L drawdown of -38.73%. Use the drawdown chart below to compare losses from any high point for ICBU.L and EIMI.L.
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Drawdown Indicators
| ICBU.L | EIMI.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.92% | -38.73% | +24.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.14% | -12.66% | +10.52% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -17.44% | +14.20% |
Max Drawdown (5Y)Largest decline over 5 years | -13.92% | -35.50% | +21.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.73% | — |
Current DrawdownCurrent decline from peak | -0.67% | -2.64% | +1.97% |
Average DrawdownAverage peak-to-trough decline | -2.78% | -14.04% | +11.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.57% | 3.52% | -2.95% |
Volatility
ICBU.L vs. EIMI.L - Volatility Comparison
The current volatility for iShares USD Intermediate Credit Bond UCITS ETF (ICBU.L) is 1.35%, while iShares Core MSCI EM IMI UCITS ETF (EIMI.L) has a volatility of 8.18%. This indicates that ICBU.L experiences smaller price fluctuations and is considered to be less risky than EIMI.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICBU.L | EIMI.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.35% | 8.18% | -6.83% |
Volatility (6M)Calculated over the trailing 6-month period | 2.46% | 16.71% | -14.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.03% | 19.23% | -16.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.31% | 18.31% | -14.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.42% | 19.15% | -14.73% |
ICBU.L vs. EIMI.L - Expense Ratio Comparison
ICBU.L has a 0.15% expense ratio, which is lower than EIMI.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
ICBU.L vs. EIMI.L - Dividend Comparison
ICBU.L's dividend yield for the trailing twelve months is around 5.54%, while EIMI.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EIMI.L iShares Core MSCI EM IMI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICBU.L iShares USD Intermediate Credit Bond UCITS ETF | 5.54% | 4.21% | 3.78% | 2.77% | 1.93% | 1.93% | 2.78% | 2.93% | 2.65% | 0.44% |
Frequently Asked Questions
ICBU.L and EIMI.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICBU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICBU.L is cheaper with a 0.15% expense ratio, compared with 0.18% for EIMI.L.
ICBU.L is categorized as Corporate Bonds, while EIMI.L is Emerging Markets Equities. ICBU.L tracks Bloomberg US Corp Bond TR USD, while EIMI.L tracks MSCI Emerging Markets Investable Market Index. Their fees differ too: 0.15% for ICBU.L and 0.18% for EIMI.L.
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