IEMG vs. ETN
IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while ETN (Eaton Corporation plc) is a stock. Over the past 10 years, IEMG returned 10.42%/yr vs 23.38%/yr for ETN. At a 0.49 correlation, their price movements are largely independent.
Performance
IEMG vs. ETN - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IEMG having a 22.84% return and ETN slightly higher at 23.61%. Over the past 10 years, IEMG has underperformed ETN with an annualized return of 10.42%, while ETN has yielded a comparatively higher 23.38% annualized return.
IEMG
- 1D
- 0.61%
- 1M
- 0.34%
- YTD
- 22.84%
- 6M
- 25.59%
- 1Y
- 44.83%
- 3Y*
- 21.33%
- 5Y*
- 7.15%
- 10Y*
- 10.42%
ETN
- 1D
- -0.57%
- 1M
- -4.09%
- YTD
- 23.61%
- 6M
- 18.59%
- 1Y
- 22.32%
- 3Y*
- 28.04%
- 5Y*
- 23.65%
- 10Y*
- 23.38%
IEMG vs. ETN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 22.84% | 32.56% | 6.50% | 11.52% | -19.98% | -0.64% | 17.87% | 17.81% | -14.92% | 37.38% |
ETN Eaton Corporation plc | 23.61% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
Correlation
The correlation between IEMG and ETN is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | 0.49 |
The correlation between IEMG and ETN has been stable across timeframes, ranging from 0.45 to 0.51 - a consistent structural relationship.
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Return for Risk
IEMG vs. ETN — Risk / Return Rank
IEMG
ETN
IEMG vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and Eaton Corporation plc (ETN). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| IEMG | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.13 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 1.04 | +2.19 |
| Martin ratioReturn relative to average drawdown | 11.89 | 2.25 | +9.64 |
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Drawdowns
IEMG vs. ETN - Drawdown Comparison
The maximum IEMG drawdown since its inception was -38.71%, smaller than the maximum ETN drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for IEMG and ETN.
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Drawdown Indicators
| IEMG | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.71% | -68.95% | +30.24% |
Max Drawdown (1Y)Largest decline over 1 year | -13.21% | -19.14% | +5.93% |
Max Drawdown (3Y)Largest decline over 3 years | -17.21% | -34.46% | +17.25% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -34.46% | -1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -38.71% | -44.55% | +5.84% |
Current DrawdownCurrent decline from peak | -3.98% | -9.36% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -12.95% | -14.89% | +1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 8.86% | -5.27% |
Volatility
IEMG vs. ETN - Volatility Comparison
The current volatility for iShares Core MSCI Emerging Markets ETF (IEMG) is 10.60%, while Eaton Corporation plc (ETN) has a volatility of 13.57%. This indicates that IEMG experiences smaller price fluctuations and is considered to be less risky than ETN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMG | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 13.57% | -2.97% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 26.78% | -7.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.08% | 33.48% | -12.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 30.24% | -11.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 30.10% | -9.93% |
Dividends
IEMG vs. ETN - Dividend Comparison
IEMG's dividend yield for the trailing twelve months is around 2.24%, more than ETN's 1.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.09% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
IEMG iShares Core MSCI Emerging Markets ETF | 2.24% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
Frequently Asked Questions
IEMG and ETN have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETN has higher volatility (13.57%) compared to IEMG (10.60%). In terms of maximum drawdown, IEMG dropped -38.71% vs ETN's -68.95%.
IEMG currently has the higher Sharpe Ratio (2.03 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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