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

IEMA.L vs. ISDE.L

Last updated Jun 5, 2026

IEMA.L (iShares MSCI EM UCITS ETF USD (Acc)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds from iShares - IEMA.L tracks the MSCI Emerging Markets Index while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 10 years, IEMA.L returned 10.07%/yr vs 13.09%/yr for ISDE.L. Their correlation of 0.81 suggests significant overlap in exposure. IEMA.L charges 0.18%/yr vs 0.85%/yr for ISDE.L.

Performance

IEMA.L vs. ISDE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EM UCITS ETF USD (Acc) (IEMA.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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Returns By Period

In the year-to-date period, IEMA.L achieves a 25.60% return, which is significantly lower than ISDE.L's 60.11% return. Over the past 10 years, IEMA.L has underperformed ISDE.L with an annualized return of 10.07%, while ISDE.L has yielded a comparatively higher 13.09% annualized return.

IEMA.L

1D
-1.44%
1M
5.31%
YTD
25.60%
6M
28.74%
1Y
52.38%
3Y*
24.09%
5Y*
7.42%
10Y*
10.07%

ISDE.L

1D
-2.79%
1M
13.41%
YTD
60.11%
6M
64.90%
1Y
107.18%
3Y*
32.29%
5Y*
12.82%
10Y*
13.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
IEMA.L
iShares MSCI EM UCITS ETF USD (Acc)		25.60%34.41%7.61%9.43%-20.23%-2.83%19.01%15.75%-13.95%36.71%
ISDE.L
iShares MSCI EM Islamic UCITS ETF USD (Dist)		60.11%40.46%-3.55%13.97%-22.72%2.64%22.21%19.39%-17.27%41.72%

Correlation

The correlation between IEMA.L and ISDE.L is 0.88, 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

0.88

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

0.84

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

0.86

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

0.90

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2009

0.81

The correlation between IEMA.L and ISDE.L has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

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

Sectors
IEMA.L
ISDE.L

Technology

36.8%
48.0%

Financial Services

19.4%
3.7%

Consumer Cyclical

9.6%
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

IEMA.L
36.8%
ISDE.L
48.0%

Financial Services

IEMA.L
19.4%
ISDE.L
3.7%

Consumer Cyclical

IEMA.L
9.6%
ISDE.L
5.3%

Industrials

IEMA.L
7.5%
ISDE.L
8.6%

Communication Services

IEMA.L
6.9%
ISDE.L
0.9%

Basic Materials

IEMA.L
6.5%
ISDE.L
12.2%

Energy

IEMA.L
4.1%
ISDE.L
10.1%

Consumer Defensive

IEMA.L
3.0%
ISDE.L
3.3%

Healthcare

IEMA.L
2.9%
ISDE.L
4.8%

Utilities

IEMA.L
2.1%
ISDE.L
2.3%

Real Estate

IEMA.L
1.1%
ISDE.L
0.9%

Compare stocks, funds, or ETFs

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iShares MSCI EM UCITS ETF USD (Acc)

iShares MSCI EM Islamic UCITS ETF USD (Dist)

Often compared with IEMA.L:
IEMA.L vs. EIMI.LIEMA.L vs. IEMGIEMA.L vs. MWEQ.LIEMA.L vs. VWOIEMA.L vs. EEMIEMA.L vs. GLDIEMA.L vs. FBTU.L
Often compared with ISDE.L:
ISDE.L vs. JRDM.LISDE.L vs. VFEG.LISDE.L vs. VDEM.LISDE.L vs. LEML.LISDE.L vs. EDG2.LISDE.L vs. EMVL.LISDE.L vs. PRAM.L

Return for Risk

IEMA.L vs. ISDE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMA.L
IEMA.L Risk / Return Rank: 8080
Overall Rank
IEMA.L Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
IEMA.L Sortino Ratio Rank: 8080
Sortino Ratio Rank
IEMA.L Omega Ratio Rank: 8181
Omega Ratio Rank
IEMA.L Calmar Ratio Rank: 8080
Calmar Ratio Rank
IEMA.L Martin Ratio Rank: 7878
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.

IEMA.L vs. ISDE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM UCITS ETF USD (Acc) (IEMA.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.

IEMA.LISDE.LDifference
Sharpe ratioReturn per unit of total volatility
2.65
4.28

-1.62

Sortino ratioReturn per unit of downside risk
3.53
4.93

-1.40

Omega ratioGain probability vs. loss probability

1.48

1.73

-0.25

Calmar ratioReturn relative to maximum drawdown

4.09

7.48

-3.39

Martin ratioReturn relative to average drawdown

14.79

28.54

-13.75

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

IEMA.L vs. ISDE.L - Sharpe Ratio Comparison

The current IEMA.L Sharpe Ratio is 2.65, which is lower than the ISDE.L Sharpe Ratio of 4.28. The chart below compares the historical Sharpe Ratios of IEMA.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

IEMA.LISDE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.65

4.28

-1.62

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.67

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

0.66

-0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.23

+0.06

Drawdowns

IEMA.L vs. ISDE.L - Drawdown Comparison

The maximum IEMA.L drawdown since its inception was -39.66%, smaller than the maximum ISDE.L drawdown of -59.96%. Use the drawdown chart below to compare losses from any high point for IEMA.L and ISDE.L.

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Drawdown Indicators

IEMA.LISDE.LDifference

Max Drawdown

Largest peak-to-trough decline

-39.66%

-59.96%

+20.30%

Max Drawdown (1Y)

Largest decline over 1 year

-12.76%

-14.25%

+1.49%

Max Drawdown (3Y)

Largest decline over 3 years

-16.69%

-21.81%

+5.12%

Max Drawdown (5Y)

Largest decline over 5 years

-36.91%

-32.28%

-4.63%

Max Drawdown (10Y)

Largest decline over 10 years

-39.66%

-36.67%

-2.99%

Current Drawdown

Current decline from peak

-2.72%

-3.68%

+0.96%

Average Drawdown

Average peak-to-trough decline

-15.28%

-21.89%

+6.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.53%

3.74%

-0.21%

Volatility

IEMA.L vs. ISDE.L - Volatility Comparison

The current volatility for iShares MSCI EM UCITS ETF USD (Acc) (IEMA.L) is 8.63%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 12.14%. This indicates that IEMA.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

IEMA.LISDE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.63%

12.14%

-3.51%

Volatility (6M)

Calculated over the trailing 6-month period

17.01%

22.26%

-5.25%

Volatility (1Y)

Calculated over the trailing 1-year period

19.68%

24.94%

-5.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.73%

19.26%

-0.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.58%

19.87%

-0.29%

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

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

Dividends

IEMA.L vs. ISDE.L - Dividend Comparison

IEMA.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.08%.

PositionTTM20252024202320222021202020192018201720162015
IEMA.L
iShares MSCI EM 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%
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

IEMA.L and ISDE.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEMA.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEMA.L is cheaper with a 0.18% expense ratio, compared with 0.85% for ISDE.L.

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

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