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IEEM.L vs. E127.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEEM.L vs. E127.L

Last updated Jun 6, 2026

IEEM.L (iShares MSCI EM UCITS ETF (Dist)) and E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from iShares and Amundi respectively. Both are passively managed. Over the past 5 years, IEEM.L returned 7.72%/yr vs 7.81%/yr for E127.L. With a 0.99 correlation, they move nearly in lockstep. IEEM.L charges 0.18%/yr vs 0.14%/yr for E127.L.

Performance

IEEM.L vs. E127.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM UCITS ETF (Dist) (IEEM.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEEM.L is traded in GBp, while E127.L is traded in GBP. To make them comparable, the E127.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with IEEM.L having a 21.11% return and E127.L slightly higher at 21.43%.

IEEM.L

1D
-3.71%
1M
0.13%
YTD
21.11%
6M
21.79%
1Y
47.26%
3Y*
18.99%
5Y*
7.72%
10Y*
10.43%

E127.L

1D
-3.76%
1M
-0.23%
YTD
21.43%
6M
22.17%
1Y
47.32%
3Y*
19.20%
5Y*
7.81%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEEM.L vs. E127.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020
IEEM.L
iShares MSCI EM UCITS ETF (Dist)		21.11%25.76%9.15%3.25%-10.39%-2.10%26.36%
E127.L
Amundi MSCI Emerging Markets II UCITS ETF Dist		21.43%25.43%9.39%2.77%-10.03%-1.88%25.95%

Correlation

The correlation between IEEM.L and E127.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.99

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since May 21, 2020

0.99

The correlation between IEEM.L and E127.L has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

IEEM.L vs. E127.L - Sectors Allocation Comparison

Sectors
IEEM.L
E127.L

Technology

36.8%
36.9%

Financial Services

19.5%
19.5%

Consumer Cyclical

9.5%
9.6%

Industrials

7.5%
7.5%

Communication Services

6.9%
6.9%

Basic Materials

6.5%
6.6%

Energy

4.1%
4.1%

Consumer Defensive

3.0%
3.0%

Healthcare

2.9%
2.9%

Utilities

2.1%
2.1%

Real Estate

1.1%
1.0%

Technology

IEEM.L
36.8%
E127.L
36.9%

Financial Services

IEEM.L
19.5%
E127.L
19.5%

Consumer Cyclical

IEEM.L
9.5%
E127.L
9.6%

Industrials

IEEM.L
7.5%
E127.L
7.5%

Communication Services

IEEM.L
6.9%
E127.L
6.9%

Basic Materials

IEEM.L
6.5%
E127.L
6.6%

Energy

IEEM.L
4.1%
E127.L
4.1%

Consumer Defensive

IEEM.L
3.0%
E127.L
3.0%

Healthcare

IEEM.L
2.9%
E127.L
2.9%

Utilities

IEEM.L
2.1%
E127.L
2.1%

Real Estate

IEEM.L
1.1%
E127.L
1.0%

Compare stocks, funds, or ETFs

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iShares MSCI EM UCITS ETF (Dist)

Amundi MSCI Emerging Markets II UCITS ETF Dist

Often compared with IEEM.L:
IEEM.L vs. EIMI.LIEEM.L vs. VFEM.DEIEEM.L vs. HMEF.LIEEM.L vs. ISP6.LIEEM.L vs. 36B5.DEIEEM.L vs. VFEG.LIEEM.L vs. VOO
Often compared with E127.L:
E127.L vs. SPXP.LE127.L vs. AEMU.LE127.L vs. FEMD.LE127.L vs. SEGM.LE127.L vs. AEME.LE127.L vs. MXFP.LE127.L vs. HEMC.L

Return for Risk

IEEM.L vs. E127.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEEM.L
IEEM.L Risk / Return Rank: 8484
Overall Rank
IEEM.L Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IEEM.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
IEEM.L Omega Ratio Rank: 8787
Omega Ratio Rank
IEEM.L Calmar Ratio Rank: 8383
Calmar Ratio Rank
IEEM.L Martin Ratio Rank: 8181
Martin Ratio Rank
E127.L
E127.L Risk / Return Rank: 8686
Overall Rank
E127.L Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
E127.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
E127.L Omega Ratio Rank: 8989
Omega Ratio Rank
E127.L Calmar Ratio Rank: 8585
Calmar Ratio Rank
E127.L Martin Ratio Rank: 8383
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.

IEEM.L vs. E127.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM UCITS ETF (Dist) (IEEM.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.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.

IEEM.LE127.LDifference
Sharpe ratioReturn per unit of total volatility
2.70
2.73

-0.04

Sortino ratioReturn per unit of downside risk
3.46
3.49

-0.03

Omega ratioGain probability vs. loss probability

1.50

1.51

-0.01

Calmar ratioReturn relative to maximum drawdown

4.20

4.35

-0.15

Martin ratioReturn relative to average drawdown

14.84

15.39

-0.54

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEEM.L vs. E127.L - Sharpe Ratio Comparison

The current IEEM.L Sharpe Ratio is 2.70, which is comparable to the E127.L Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of IEEM.L and E127.L, 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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Sharpe Ratios by Period

IEEM.LE127.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.70

2.73

-0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.48

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.68

-0.37

Drawdowns

IEEM.L vs. E127.L - Drawdown Comparison

The maximum IEEM.L drawdown since its inception was -53.80%, which is greater than E127.L's maximum drawdown of -27.45%. Use the drawdown chart below to compare losses from any high point for IEEM.L and E127.L.

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Drawdown Indicators

IEEM.LE127.LDifference

Max Drawdown

Largest peak-to-trough decline

-53.80%

-27.45%

-26.35%

Max Drawdown (1Y)

Largest decline over 1 year

-11.21%

-10.83%

-0.38%

Max Drawdown (3Y)

Largest decline over 3 years

-15.56%

-15.31%

-0.25%

Max Drawdown (5Y)

Largest decline over 5 years

-23.96%

-23.70%

-0.26%

Max Drawdown (10Y)

Largest decline over 10 years

-27.50%

—

—

Current Drawdown

Current decline from peak

-6.05%

-6.01%

-0.04%

Average Drawdown

Average peak-to-trough decline

-11.39%

-11.01%

-0.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.17%

3.07%

+0.10%

Volatility

IEEM.L vs. E127.L - Volatility Comparison

iShares MSCI EM UCITS ETF (Dist) (IEEM.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) have volatilities of 8.10% and 8.02%, 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

IEEM.LE127.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.10%

8.02%

+0.08%

Volatility (6M)

Calculated over the trailing 6-month period

15.10%

14.86%

+0.24%

Volatility (1Y)

Calculated over the trailing 1-year period

17.46%

17.24%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.40%

16.26%

+0.14%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.14%

16.47%

+1.67%

IEEM.L vs. E127.L - Expense Ratio Comparison

IEEM.L has a 0.18% expense ratio, which is higher than E127.L's 0.14% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEEM.L vs. E127.L - Dividend Comparison

IEEM.L's dividend yield for the trailing twelve months is around 1.55%, less than E127.L's 1.78% yield.

PositionTTM20252024202320222021202020192018201720162015
E127.L
Amundi MSCI Emerging Markets II UCITS ETF Dist		1.78%2.16%3.35%3.76%2.34%1.64%1.70%0.00%0.00%0.00%0.00%0.00%
IEEM.L
iShares MSCI EM UCITS ETF (Dist)		1.55%1.84%2.22%2.32%2.84%2.00%1.54%1.84%1.91%1.42%1.56%2.20%

Frequently Asked Questions

With a correlation of 0.99, IEEM.L and E127.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, E127.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

E127.L is cheaper with a 0.14% expense ratio, compared with 0.18% for IEEM.L.

Both ETFs track MSCI EM NR USD. They also come from different issuers: iShares and Amundi. Their fees differ too: 0.18% for IEEM.L and 0.14% for E127.L.

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