IEEM.L vs. FXC.AS
IEEM.L (iShares MSCI EM UCITS ETF (Dist)) and FXC.AS (iShares China Large Cap UCITS ETF) are both exchange-traded funds - IEEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while FXC.AS is a China Equities fund tracking the MSCI China NR USD. Both are passively managed. Over the past 10 years, IEEM.L returned 11.54%/yr vs 4.01%/yr for FXC.AS. Their correlation of 0.81 suggests significant overlap in exposure. IEEM.L charges 0.18%/yr vs 0.74%/yr for FXC.AS.
Performance
IEEM.L vs. FXC.AS - Performance Comparison
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Different Trading Currencies
IEEM.L is traded in GBp, while FXC.AS is traded in EUR. To make them comparable, the FXC.AS 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 higher than FXC.AS's -6.93% return. Over the past 10 years, IEEM.L has outperformed FXC.AS with an annualized return of 11.54%, while FXC.AS has yielded a comparatively lower 4.01% annualized 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%
FXC.AS
- 1D
- -0.31%
- 1M
- -3.55%
- YTD
- -6.93%
- 6M
- -10.37%
- 1Y
- 0.65%
- 3Y*
- 9.52%
- 5Y*
- -1.89%
- 10Y*
- 4.01%
IEEM.L vs. FXC.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEEM.L iShares MSCI EM UCITS ETF (Dist) | 25.90% | 26.66% | 9.88% | 3.86% | -9.90% | -1.38% | 15.96% | 12.64% | -9.08% | 25.04% |
FXC.AS iShares China Large Cap UCITS ETF | -6.93% | 20.21% | 32.44% | -17.39% | -11.91% | -18.48% | 7.00% | 9.24% | -6.13% | 24.48% |
Correlation
The correlation between IEEM.L and FXC.AS is 0.63, 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 | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 4, 2007 | 0.81 |
The correlation between IEEM.L and FXC.AS shifts across timeframes, from 0.63 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEEM.L vs. FXC.AS — Risk / Return Rank
IEEM.L
FXC.AS
IEEM.L vs. FXC.AS - 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 China Large Cap UCITS ETF (FXC.AS). 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.L | FXC.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.14 | ||
| Sortino ratioReturn per unit of downside risk | +3.88 | ||
| Omega ratioGain probability vs. loss probability | 1.60 | 1.03 | +0.57 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 0.09 | +4.84 |
| Martin ratioReturn relative to average drawdown | 17.58 | 0.20 | +17.38 |
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
| IEEM.L | FXC.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.23 | 0.08 | +3.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | -0.07 | +0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.16 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.13 | +0.28 |
Drawdowns
IEEM.L vs. FXC.AS - Drawdown Comparison
The maximum IEEM.L drawdown since its inception was -53.22%, smaller than the maximum FXC.AS drawdown of -61.39%. Use the drawdown chart below to compare losses from any high point for IEEM.L and FXC.AS.
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Drawdown Indicators
| IEEM.L | FXC.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.22% | -61.39% | +8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -11.12% | -15.78% | +4.66% |
Max Drawdown (3Y)Largest decline over 3 years | -15.47% | -27.70% | +12.23% |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | -47.41% | +24.14% |
Max Drawdown (10Y)Largest decline over 10 years | -26.63% | -54.32% | +27.69% |
Current DrawdownCurrent decline from peak | -2.43% | -23.36% | +20.93% |
Average DrawdownAverage peak-to-trough decline | -10.41% | -21.71% | +11.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 7.30% | -4.17% |
Volatility
IEEM.L vs. FXC.AS - Volatility Comparison
iShares MSCI EM UCITS ETF (Dist) (IEEM.L) has a higher volatility of 7.42% compared to iShares China Large Cap UCITS ETF (FXC.AS) at 6.62%. This indicates that IEEM.L's price experiences larger fluctuations and is considered to be riskier than FXC.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEEM.L | FXC.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.42% | 6.62% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 14.55% | 12.66% | +1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 17.60% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.32% | 28.06% | -11.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.11% | 25.11% | -7.00% |
IEEM.L vs. FXC.AS - Expense Ratio Comparison
IEEM.L has a 0.18% expense ratio, which is lower than FXC.AS's 0.74% expense ratio.
Dividends
IEEM.L vs. FXC.AS - Dividend Comparison
IEEM.L's dividend yield for the trailing twelve months is around 2.01%, less than FXC.AS's 2.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXC.AS iShares China Large Cap UCITS ETF | 2.24% | 2.07% | 2.48% | 2.68% | 2.53% | 2.10% | 2.93% | 2.74% | 3.48% | 2.83% | 2.62% | 2.94% |
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
IEEM.L and FXC.AS have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEEM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEEM.L is cheaper with a 0.18% expense ratio, compared with 0.74% for FXC.AS.
IEEM.L is categorized as Emerging Markets Equities, while FXC.AS is China Equities. IEEM.L tracks MSCI EM NR USD, while FXC.AS tracks MSCI China NR USD. Their fees differ too: 0.18% for IEEM.L and 0.74% for FXC.AS.
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