PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IEEM.L vs. EXCS.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEEM.L vs. EXCS.L

Last updated Jun 5, 2026

IEEM.L (iShares MSCI EM UCITS ETF (Dist)) and EXCS.L (iShares MSCI EM ex-China UCITS ETF USD (Acc)) are both Emerging Markets Equities funds from iShares tracking the MSCI EM NR USD. Both are passively managed. Over the past 3 years, IEEM.L returned 21.65%/yr vs 24.90%/yr for EXCS.L. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.

Performance

IEEM.L vs. EXCS.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 iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

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

Returns By Period

In the year-to-date period, IEEM.L achieves a 25.90% return, which is significantly lower than EXCS.L's 38.77% return.

IEEM.L

1D
-1.34%
1M
3.99%
YTD
25.90%
6M
26.73%
1Y
54.02%
3Y*
21.65%
5Y*
9.24%
10Y*
11.54%

EXCS.L

1D
-1.64%
1M
5.96%
YTD
38.77%
6M
41.35%
1Y
71.75%
3Y*
24.90%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)20252024202320222021
IEEM.L
iShares MSCI EM UCITS ETF (Dist)		25.90%26.66%9.88%3.86%-9.90%0.74%
EXCS.L
iShares MSCI EM ex-China UCITS ETF USD (Acc)		38.77%26.13%5.55%10.95%-8.31%2.81%

Correlation

The correlation between IEEM.L and EXCS.L is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.93

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

0.87

Correlation (All Time)
Calculated using the full available price history since Nov 30, 2021

0.85

The correlation between IEEM.L and EXCS.L has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

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

Sectors
IEEM.L
EXCS.L

Technology

36.8%
45.1%

Financial Services

19.5%
19.5%

Consumer Cyclical

9.5%
4.5%

Industrials

7.5%
8.3%

Communication Services

6.9%
3.4%

Basic Materials

6.5%
6.8%

Energy

4.1%
4.2%

Consumer Defensive

3.0%
2.9%

Healthcare

2.9%
2.2%

Utilities

2.1%
2.3%

Real Estate

1.1%
1.0%

Technology

IEEM.L
36.8%
EXCS.L
45.1%

Financial Services

IEEM.L
19.5%
EXCS.L
19.5%

Consumer Cyclical

IEEM.L
9.5%
EXCS.L
4.5%

Industrials

IEEM.L
7.5%
EXCS.L
8.3%

Communication Services

IEEM.L
6.9%
EXCS.L
3.4%

Basic Materials

IEEM.L
6.5%
EXCS.L
6.8%

Energy

IEEM.L
4.1%
EXCS.L
4.2%

Consumer Defensive

IEEM.L
3.0%
EXCS.L
2.9%

Healthcare

IEEM.L
2.9%
EXCS.L
2.2%

Utilities

IEEM.L
2.1%
EXCS.L
2.3%

Real Estate

IEEM.L
1.1%
EXCS.L
1.0%

Compare stocks, funds, or ETFs

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

iShares MSCI EM UCITS ETF (Dist)

iShares MSCI EM ex-China UCITS ETF USD (Acc)

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 EXCS.L:
EXCS.L vs. EMIM.LEXCS.L vs. EIMI.LEXCS.L vs. XDEM.LEXCS.L vs. QQQEXCS.L vs. EEMEXCS.L vs. ^GSPCEXCS.L vs. VFEG.L

Return for Risk

IEEM.L vs. EXCS.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: 8989
Overall Rank
IEEM.L Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
IEEM.L Sortino Ratio Rank: 9090
Sortino Ratio Rank
IEEM.L Omega Ratio Rank: 9191
Omega Ratio Rank
IEEM.L Calmar Ratio Rank: 8787
Calmar Ratio Rank
IEEM.L Martin Ratio Rank: 8585
Martin Ratio Rank
EXCS.L
EXCS.L Risk / Return Rank: 9494
Overall Rank
EXCS.L Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
EXCS.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
EXCS.L Omega Ratio Rank: 9595
Omega Ratio Rank
EXCS.L Calmar Ratio Rank: 9292
Calmar Ratio Rank
EXCS.L Martin Ratio Rank: 9292
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. EXCS.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 iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.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.LEXCS.LDifference
Sharpe ratioReturn per unit of total volatility
3.23
3.88

-0.65

Sortino ratioReturn per unit of downside risk
4.13
4.79

-0.67

Omega ratioGain probability vs. loss probability

1.60

1.70

-0.10

Calmar ratioReturn relative to maximum drawdown

4.93

6.20

-1.27

Martin ratioReturn relative to average drawdown

17.58

22.70

-5.12

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. EXCS.L - Sharpe Ratio Comparison

The current IEEM.L Sharpe Ratio is 3.23, which is comparable to the EXCS.L Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of IEEM.L and EXCS.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.

Loading charts...

Sharpe Ratios by Period

IEEM.LEXCS.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.23

3.88

-0.65

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

1.03

-0.62

Drawdowns

IEEM.L vs. EXCS.L - Drawdown Comparison

The maximum IEEM.L drawdown since its inception was -53.22%, which is greater than EXCS.L's maximum drawdown of -17.51%. Use the drawdown chart below to compare losses from any high point for IEEM.L and EXCS.L.

Loading charts...

Drawdown Indicators

IEEM.LEXCS.LDifference

Max Drawdown

Largest peak-to-trough decline

-53.22%

-17.51%

-35.71%

Max Drawdown (1Y)

Largest decline over 1 year

-11.12%

-11.81%

+0.69%

Max Drawdown (3Y)

Largest decline over 3 years

-15.47%

-17.51%

+2.04%

Max Drawdown (5Y)

Largest decline over 5 years

-23.27%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-26.63%

—

—

Current Drawdown

Current decline from peak

-2.43%

-2.34%

-0.09%

Average Drawdown

Average peak-to-trough decline

-10.41%

-4.85%

-5.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

3.23%

-0.10%

Volatility

IEEM.L vs. EXCS.L - Volatility Comparison

The current volatility for iShares MSCI EM UCITS ETF (Dist) (IEEM.L) is 7.42%, while iShares MSCI EM ex-China UCITS ETF USD (Acc) (EXCS.L) has a volatility of 8.66%. This indicates that IEEM.L experiences smaller price fluctuations and is considered to be less risky than EXCS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IEEM.LEXCS.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.42%

8.66%

-1.24%

Volatility (6M)

Calculated over the trailing 6-month period

14.55%

16.55%

-2.00%

Volatility (1Y)

Calculated over the trailing 1-year period

17.03%

18.88%

-1.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.32%

15.36%

+0.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.11%

15.36%

+2.75%

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

Both IEEM.L and EXCS.L have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IEEM.L vs. EXCS.L - Dividend Comparison

IEEM.L's dividend yield for the trailing twelve months is around 2.01%, while EXCS.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EXCS.L
iShares MSCI EM ex-China UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IEEM.L
iShares MSCI EM UCITS ETF (Dist)		2.01%2.48%2.86%2.91%3.40%2.74%1.98%2.32%2.51%1.86%2.09%3.38%

Frequently Asked Questions

With a correlation of 0.93, IEEM.L and EXCS.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.

Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

IEEM.L and EXCS.L have the same expense ratio: 0.18% per year.

Both ETFs track MSCI EM NR USD.

Portfolio Optimizer

Find the right allocation for IEEM.L and EXCS.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer