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

IEEM.L vs. ISDE.L

Last updated Jun 5, 2026

IEEM.L (iShares MSCI EM UCITS ETF (Dist)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds from iShares - IEEM.L tracks the MSCI EM NR USD while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 10 years, IEEM.L returned 11.54%/yr vs 13.93%/yr for ISDE.L. A 0.71 correlation means they provide meaningful diversification when combined. IEEM.L charges 0.18%/yr vs 0.85%/yr for ISDE.L.

Performance

IEEM.L vs. ISDE.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 Islamic UCITS ETF USD (Dist) (ISDE.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 ISDE.L is traded in USD. To make them comparable, the ISDE.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 ISDE.L's 60.71% return. Over the past 10 years, IEEM.L has underperformed ISDE.L with an annualized return of 11.54%, while ISDE.L has yielded a comparatively higher 13.93% 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%

ISDE.L

1D
-2.82%
1M
10.68%
YTD
60.71%
6M
62.08%
1Y
105.96%
3Y*
28.95%
5Y*
14.03%
10Y*
13.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
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%
ISDE.L
iShares MSCI EM Islamic UCITS ETF USD (Dist)		60.71%30.46%-1.86%8.28%-13.53%3.61%18.62%14.85%-12.37%29.47%

Correlation

The correlation between IEEM.L and ISDE.L is 0.80, 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

0.80

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

0.77

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

0.77

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

0.85

Correlation (All Time)
Calculated using the full available price history since Jan 23, 2008

0.71

The correlation between IEEM.L and ISDE.L shifts across timeframes, from 0.71 (all time) to 0.85 (10 years), reflecting how their relationship changes across market environments.

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

Sectors
IEEM.L
ISDE.L

Technology

36.8%
48.0%

Financial Services

19.5%
3.7%

Consumer Cyclical

9.5%
5.3%

Industrials

7.5%
8.6%

Communication Services

6.9%
0.9%

Basic Materials

6.5%
12.2%

Energy

4.1%
10.1%

Consumer Defensive

3.0%
3.3%

Healthcare

2.9%
4.8%

Utilities

2.1%
2.3%

Real Estate

1.1%
0.9%

Technology

IEEM.L
36.8%
ISDE.L
48.0%

Financial Services

IEEM.L
19.5%
ISDE.L
3.7%

Consumer Cyclical

IEEM.L
9.5%
ISDE.L
5.3%

Industrials

IEEM.L
7.5%
ISDE.L
8.6%

Communication Services

IEEM.L
6.9%
ISDE.L
0.9%

Basic Materials

IEEM.L
6.5%
ISDE.L
12.2%

Energy

IEEM.L
4.1%
ISDE.L
10.1%

Consumer Defensive

IEEM.L
3.0%
ISDE.L
3.3%

Healthcare

IEEM.L
2.9%
ISDE.L
4.8%

Utilities

IEEM.L
2.1%
ISDE.L
2.3%

Real Estate

IEEM.L
1.1%
ISDE.L
0.9%

Compare stocks, funds, or ETFs

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iShares MSCI EM UCITS ETF (Dist)

iShares MSCI EM Islamic UCITS ETF USD (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 ISDE.L:
ISDE.L vs. VFEG.LISDE.L vs. JRDM.LISDE.L vs. VDEM.LISDE.L vs. LEML.LISDE.L vs. EDG2.LISDE.L vs. PRAM.LISDE.L vs. EMVL.L

Return for Risk

IEEM.L vs. ISDE.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
ISDE.L
ISDE.L Risk / Return Rank: 9595
Overall Rank
ISDE.L Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
ISDE.L Sortino Ratio Rank: 9494
Sortino Ratio Rank
ISDE.L Omega Ratio Rank: 9595
Omega Ratio Rank
ISDE.L Calmar Ratio Rank: 9494
Calmar Ratio Rank
ISDE.L Martin Ratio Rank: 9595
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. ISDE.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 Islamic UCITS ETF USD (Dist) (ISDE.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.LISDE.LDifference
Sharpe ratioReturn per unit of total volatility
3.23
4.61

-1.39

Sortino ratioReturn per unit of downside risk
4.13
5.26

-1.13

Omega ratioGain probability vs. loss probability

1.60

1.79

-0.19

Calmar ratioReturn relative to maximum drawdown

4.93

8.63

-3.69

Martin ratioReturn relative to average drawdown

17.58

31.08

-13.50

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. ISDE.L - Sharpe Ratio Comparison

The current IEEM.L Sharpe Ratio is 3.23, which is lower than the ISDE.L Sharpe Ratio of 4.61. The chart below compares the historical Sharpe Ratios of IEEM.L and ISDE.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.LISDE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.23

4.61

-1.39

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.79

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

0.72

-0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.41

0.36

+0.04

Drawdowns

IEEM.L vs. ISDE.L - Drawdown Comparison

The maximum IEEM.L drawdown since its inception was -53.22%, which is greater than ISDE.L's maximum drawdown of -46.71%. Use the drawdown chart below to compare losses from any high point for IEEM.L and ISDE.L.

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Drawdown Indicators

IEEM.LISDE.LDifference

Max Drawdown

Largest peak-to-trough decline

-53.22%

-46.71%

-6.51%

Max Drawdown (1Y)

Largest decline over 1 year

-11.12%

-12.58%

+1.46%

Max Drawdown (3Y)

Largest decline over 3 years

-15.47%

-21.66%

+6.19%

Max Drawdown (5Y)

Largest decline over 5 years

-23.27%

-21.66%

-1.61%

Max Drawdown (10Y)

Largest decline over 10 years

-26.63%

-26.22%

-0.41%

Current Drawdown

Current decline from peak

-2.43%

-3.37%

+0.94%

Average Drawdown

Average peak-to-trough decline

-10.41%

-14.03%

+3.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

3.50%

-0.37%

Volatility

IEEM.L vs. ISDE.L - Volatility Comparison

The current volatility for iShares MSCI EM UCITS ETF (Dist) (IEEM.L) is 7.42%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 11.39%. This indicates that IEEM.L experiences smaller price fluctuations and is considered to be less risky than ISDE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEEM.LISDE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.42%

11.39%

-3.97%

Volatility (6M)

Calculated over the trailing 6-month period

14.55%

20.95%

-6.40%

Volatility (1Y)

Calculated over the trailing 1-year period

17.03%

23.54%

-6.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.32%

17.76%

-1.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.11%

19.28%

-1.17%

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

IEEM.L has a 0.18% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.

Dividends

IEEM.L vs. ISDE.L - Dividend Comparison

IEEM.L's dividend yield for the trailing twelve months is around 2.01%, more than ISDE.L's 1.08% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ISDE.L
iShares MSCI EM Islamic UCITS ETF USD (Dist)		1.08%1.86%2.51%2.77%2.10%1.79%0.98%1.55%1.64%1.02%1.07%2.32%

Frequently Asked Questions

IEEM.L and ISDE.L have a correlation of 0.80, 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 0.85% for ISDE.L.

IEEM.L tracks MSCI EM NR USD, while ISDE.L tracks MSCI Emerging Markets Islamic Index. Their fees differ too: 0.18% for IEEM.L and 0.85% for ISDE.L.

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