IEMS.L vs. IAAAX
IEMS.L (iShares MSCI Emerging Markets Small Cap UCITS ETF) and IAAAX (Transamerica Asset Allocation Growth Portfolio Fund) are both funds - IEMS.L is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Small Cap, while IAAAX is a Diversified Portfolio fund managed by Transamerica. Over the past 10 years, IEMS.L returned 9.32%/yr vs 11.08%/yr for IAAAX. A 0.56 correlation means they provide meaningful diversification when combined. IEMS.L charges 0.74%/yr vs 0.49%/yr for IAAAX.
Performance
IEMS.L vs. IAAAX - Performance Comparison
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Returns By Period
In the year-to-date period, IEMS.L achieves a 15.99% return, which is significantly higher than IAAAX's 9.64% return. Over the past 10 years, IEMS.L has underperformed IAAAX with an annualized return of 9.32%, while IAAAX has yielded a comparatively higher 11.08% annualized return.
IEMS.L
- 1D
- -0.70%
- 1M
- -0.00%
- YTD
- 15.99%
- 6M
- 17.12%
- 1Y
- 29.43%
- 3Y*
- 17.49%
- 5Y*
- 7.12%
- 10Y*
- 9.32%
IAAAX
- 1D
- -0.64%
- 1M
- 3.92%
- YTD
- 9.64%
- 6M
- 10.37%
- 1Y
- 25.50%
- 3Y*
- 19.78%
- 5Y*
- 9.52%
- 10Y*
- 11.08%
IEMS.L vs. IAAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEMS.L iShares MSCI Emerging Markets Small Cap UCITS ETF | 15.99% | 19.35% | 2.60% | 23.28% | -18.98% | 19.00% | 18.41% | 10.59% | -19.12% | 34.91% |
IAAAX Transamerica Asset Allocation Growth Portfolio Fund | 9.64% | 21.45% | 17.37% | 20.04% | -19.24% | 16.14% | 18.87% | 21.75% | -11.48% | 20.17% |
Correlation
The correlation between IEMS.L and IAAAX is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2009 | 0.56 |
The correlation between IEMS.L and IAAAX has been stable across timeframes, ranging from 0.51 to 0.57 - a consistent structural relationship.
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Return for Risk
IEMS.L vs. IAAAX — Risk / Return Rank
IEMS.L
IAAAX
IEMS.L vs. IAAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small Cap UCITS ETF (IEMS.L) and Transamerica Asset Allocation Growth Portfolio Fund (IAAAX). 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.
| IEMS.L | IAAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.36 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.63 | +0.42 |
| Martin ratioReturn relative to average drawdown | 10.31 | 11.76 | -1.44 |
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
| IEMS.L | IAAAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 1.99 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.59 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.66 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.42 | +0.11 |
Drawdowns
IEMS.L vs. IAAAX - Drawdown Comparison
The maximum IEMS.L drawdown since its inception was -49.94%, smaller than the maximum IAAAX drawdown of -56.57%. Use the drawdown chart below to compare losses from any high point for IEMS.L and IAAAX.
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Drawdown Indicators
| IEMS.L | IAAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.94% | -56.57% | +6.63% |
Max Drawdown (1Y)Largest decline over 1 year | -9.60% | -9.85% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -17.90% | -3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -27.85% | -29.29% | +1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -49.94% | -35.34% | -14.60% |
Current DrawdownCurrent decline from peak | -2.19% | -0.64% | -1.55% |
Average DrawdownAverage peak-to-trough decline | -11.38% | -9.53% | -1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.85% | 2.20% | +0.65% |
Volatility
IEMS.L vs. IAAAX - Volatility Comparison
iShares MSCI Emerging Markets Small Cap UCITS ETF (IEMS.L) has a higher volatility of 7.31% compared to Transamerica Asset Allocation Growth Portfolio Fund (IAAAX) at 3.39%. This indicates that IEMS.L's price experiences larger fluctuations and is considered to be riskier than IAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEMS.L | IAAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 3.39% | +3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.68% | 10.13% | +5.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.10% | 13.01% | +5.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 16.33% | +1.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.32% | 16.85% | +1.47% |
IEMS.L vs. IAAAX - Expense Ratio Comparison
IEMS.L has a 0.74% expense ratio, which is higher than IAAAX's 0.49% expense ratio.
Dividends
IEMS.L vs. IAAAX - Dividend Comparison
IEMS.L's dividend yield for the trailing twelve months is around 1.61%, less than IAAAX's 6.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAAAX Transamerica Asset Allocation Growth Portfolio Fund | 6.58% | 7.21% | 5.16% | 2.79% | 8.74% | 8.25% | 4.13% | 9.02% | 19.05% | 11.01% | 8.16% | 9.44% |
IEMS.L iShares MSCI Emerging Markets Small Cap UCITS ETF | 1.61% | 1.70% | 1.81% | 2.09% | 2.47% | 1.29% | 1.62% | 2.05% | 2.19% | 1.32% | 2.08% | 0.87% |
Frequently Asked Questions
IEMS.L and IAAAX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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