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IEMG vs. VWRD.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEMG vs. VWRD.L

Last updated Jun 13, 2026

IEMG (iShares Core MSCI Emerging Markets ETF) and VWRD.L (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net), while VWRD.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 10 years, IEMG returned 10.42%/yr vs 12.94%/yr for VWRD.L. A 0.58 correlation means they provide meaningful diversification when combined. IEMG charges 0.09%/yr vs 0.22%/yr for VWRD.L.

Performance

IEMG vs. VWRD.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Emerging Markets ETF (IEMG) and Vanguard FTSE All-World UCITS ETF (VWRD.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, IEMG achieves a 22.84% return, which is significantly higher than VWRD.L's 10.27% return. Over the past 10 years, IEMG has underperformed VWRD.L with an annualized return of 10.42%, while VWRD.L has yielded a comparatively higher 12.94% 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%

VWRD.L

1D
2.38%
1M
0.88%
YTD
10.27%
6M
11.90%
1Y
25.73%
3Y*
19.78%
5Y*
10.91%
10Y*
12.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMG vs. VWRD.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VWRD.L
Vanguard FTSE All-World UCITS ETF		10.27%22.39%17.65%22.31%-18.19%18.52%16.13%25.67%-9.70%24.35%

Correlation

The correlation between IEMG and VWRD.L is 0.65, 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

0.65

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

0.58

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

0.58

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

0.58

Correlation (All Time)
Calculated using the full available price history since Oct 24, 2012

0.58

The correlation between IEMG and VWRD.L has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.

IEMG vs. VWRD.L - Sectors Allocation Comparison

Sectors
IEMG
VWRD.L

Technology

35.0%
30.2%

Financial Services

18.4%
16.1%

Consumer Cyclical

9.5%
9.1%

Industrials

9.0%
10.2%

Basic Materials

6.9%
3.6%

Communication Services

6.4%
8.9%

Energy

3.8%
4.3%

Healthcare

3.7%
8.1%

Consumer Defensive

3.3%
4.9%

Utilities

2.2%
2.9%

Real Estate

1.7%
1.6%

Technology

IEMG
35.0%
VWRD.L
30.2%

Financial Services

IEMG
18.4%
VWRD.L
16.1%

Consumer Cyclical

IEMG
9.5%
VWRD.L
9.1%

Industrials

IEMG
9.0%
VWRD.L
10.2%

Basic Materials

IEMG
6.9%
VWRD.L
3.6%

Communication Services

IEMG
6.4%
VWRD.L
8.9%

Energy

IEMG
3.8%
VWRD.L
4.3%

Healthcare

IEMG
3.7%
VWRD.L
8.1%

Consumer Defensive

IEMG
3.3%
VWRD.L
4.9%

Utilities

IEMG
2.2%
VWRD.L
2.9%

Real Estate

IEMG
1.7%
VWRD.L
1.6%

Compare stocks, funds, or ETFs

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

iShares Core MSCI Emerging Markets ETF

Vanguard FTSE All-World UCITS ETF

Often compared with IEMG:
IEMG vs. VWOIEMG vs. EEMIEMG vs. IEFAIEMG vs. EMXCIEMG vs. SCHEIEMG vs. IXUSIEMG vs. SPY
Often compared with VWRD.L:
VWRD.L vs. VWRP.LVWRD.L vs. IWDA.LVWRD.L vs. VOOVWRD.L vs. JEPQVWRD.L vs. JEPG.LVWRD.L vs. EGLN.LVWRD.L vs. JEPI

Return for Risk

IEMG vs. VWRD.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMG
IEMG Risk / Return Rank: 7373
Overall Rank
IEMG Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
IEMG Sortino Ratio Rank: 6767
Sortino Ratio Rank
IEMG Omega Ratio Rank: 7676
Omega Ratio Rank
IEMG Calmar Ratio Rank: 7373
Calmar Ratio Rank
IEMG Martin Ratio Rank: 7373
Martin Ratio Rank
VWRD.L
VWRD.L Risk / Return Rank: 7272
Overall Rank
VWRD.L Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
VWRD.L Sortino Ratio Rank: 7878
Sortino Ratio Rank
VWRD.L Omega Ratio Rank: 7272
Omega Ratio Rank
VWRD.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
VWRD.L Martin Ratio Rank: 7373
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.

IEMG vs. VWRD.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and Vanguard FTSE All-World UCITS ETF (VWRD.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.

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.

IEMGVWRD.LDifference
Sharpe ratioReturn per unit of total volatility
2.03
2.01

+0.02

Sortino ratioReturn per unit of downside risk
2.65
3.00

-0.35

Omega ratioGain probability vs. loss probability

1.39

1.37

+0.02

Calmar ratioReturn relative to maximum drawdown

3.23

2.91

+0.32

Martin ratioReturn relative to average drawdown

11.89

11.88

0.00

IEMG vs. VWRD.L - Sharpe Ratio Comparison

The current IEMG Sharpe Ratio is 2.03, which is comparable to the VWRD.L Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of IEMG and VWRD.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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Drawdowns

IEMG vs. VWRD.L - Drawdown Comparison

The maximum IEMG drawdown since its inception was -38.71%, which is greater than VWRD.L's maximum drawdown of -33.83%. Use the drawdown chart below to compare losses from any high point for IEMG and VWRD.L.

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Drawdown Indicators

IEMGVWRD.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.71%

-33.83%

-4.88%

Max Drawdown (1Y)

Largest decline over 1 year

-13.21%

-8.80%

-4.41%

Max Drawdown (3Y)

Largest decline over 3 years

-17.21%

-16.25%

-0.96%

Max Drawdown (5Y)

Largest decline over 5 years

-35.75%

-26.02%

-9.73%

Max Drawdown (10Y)

Largest decline over 10 years

-38.71%

-33.83%

-4.88%

Current Drawdown

Current decline from peak

-3.98%

-1.99%

-1.99%

Average Drawdown

Average peak-to-trough decline

-12.95%

-4.51%

-8.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.59%

2.16%

+1.43%

Volatility

IEMG vs. VWRD.L - Volatility Comparison

iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 10.60% compared to Vanguard FTSE All-World UCITS ETF (VWRD.L) at 4.40%. This indicates that IEMG's price experiences larger fluctuations and is considered to be riskier than VWRD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IEMGVWRD.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.60%

4.40%

+6.20%

Volatility (6M)

Calculated over the trailing 6-month period

18.89%

10.29%

+8.60%

Volatility (1Y)

Calculated over the trailing 1-year period

21.08%

12.77%

+8.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.73%

15.38%

+3.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.17%

15.73%

+4.44%

IEMG vs. VWRD.L - Expense Ratio Comparison

IEMG has a 0.09% expense ratio, which is lower than VWRD.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IEMG vs. VWRD.L - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.24%, more than VWRD.L's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VWRD.L
Vanguard FTSE All-World UCITS ETF		1.25%1.38%1.52%1.69%2.05%1.48%1.47%1.88%2.29%1.82%2.04%2.07%

Frequently Asked Questions

IEMG and VWRD.L have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEMG is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEMG is cheaper with a 0.09% expense ratio, compared with 0.22% for VWRD.L.

IEMG is categorized as Emerging Markets Diversified, while VWRD.L is Global Equities. IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net), while VWRD.L tracks FTSE All-World Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for IEMG and 0.22% for VWRD.L.

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