PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IEMU.L vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEMU.L vs. SWDA.L

Last updated Jun 5, 2026

IEMU.L (iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - IEMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while SWDA.L is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 5 years, IEMU.L returned 9.61%/yr vs 11.87%/yr for SWDA.L. A 0.73 correlation means they provide meaningful diversification when combined. IEMU.L charges 0.12%/yr vs 0.20%/yr for SWDA.L.

Performance

IEMU.L vs. SWDA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (IEMU.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Different Trading Currencies

IEMU.L is traded in USD, while SWDA.L is traded in GBp. To make them comparable, the SWDA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEMU.L achieves a 8.00% return, which is significantly lower than SWDA.L's 9.82% return.

IEMU.L

1D
0.59%
1M
0.86%
YTD
8.00%
6M
10.61%
1Y
19.54%
3Y*
19.32%
5Y*
9.61%
10Y*
—

SWDA.L

1D
0.20%
1M
2.47%
YTD
9.82%
6M
10.69%
1Y
25.80%
3Y*
20.71%
5Y*
11.87%
10Y*
13.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEMU.L vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
IEMU.L
iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)		8.00%39.99%3.03%24.18%-17.17%13.22%7.98%7.94%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		9.82%21.14%19.09%23.79%-18.13%22.52%15.68%8.05%

Correlation

The correlation between IEMU.L and SWDA.L is 0.77, 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

0.77

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

0.73

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

0.72

Correlation (All Time)
Calculated using the full available price history since Jul 19, 2019

0.73

The correlation between IEMU.L and SWDA.L has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

IEMU.L vs. SWDA.L - Sectors Allocation Comparison

Sectors
IEMU.L
SWDA.L

Financial Services

24.0%
15.4%

Industrials

21.0%
10.9%

Technology

15.9%
30.0%

Consumer Cyclical

8.4%
9.0%

Utilities

6.4%
2.5%

Healthcare

5.6%
8.7%

Consumer Defensive

5.6%
5.2%

Communication Services

4.3%
9.2%

Basic Materials

4.0%
3.2%

Energy

3.9%
4.2%

Real Estate

0.9%
1.8%

Financial Services

IEMU.L
24.0%
SWDA.L
15.4%

Industrials

IEMU.L
21.0%
SWDA.L
10.9%

Technology

IEMU.L
15.9%
SWDA.L
30.0%

Consumer Cyclical

IEMU.L
8.4%
SWDA.L
9.0%

Utilities

IEMU.L
6.4%
SWDA.L
2.5%

Healthcare

IEMU.L
5.6%
SWDA.L
8.7%

Consumer Defensive

IEMU.L
5.6%
SWDA.L
5.2%

Communication Services

IEMU.L
4.3%
SWDA.L
9.2%

Basic Materials

IEMU.L
4.0%
SWDA.L
3.2%

Energy

IEMU.L
3.9%
SWDA.L
4.2%

Real Estate

IEMU.L
0.9%
SWDA.L
1.8%

Compare stocks, funds, or ETFs

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

iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc)

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with IEMU.L:
IEMU.L vs. IMEU.ASIEMU.L vs. VEUR.ASIEMU.L vs. CSPX.LIEMU.L vs. VXUSIEMU.L vs. ASEAIEMU.L vs. ACWIIEMU.L vs. BBEU
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

IEMU.L vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEMU.L
IEMU.L Risk / Return Rank: 3535
Overall Rank
IEMU.L Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
IEMU.L Sortino Ratio Rank: 3535
Sortino Ratio Rank
IEMU.L Omega Ratio Rank: 3434
Omega Ratio Rank
IEMU.L Calmar Ratio Rank: 3333
Calmar Ratio Rank
IEMU.L Martin Ratio Rank: 3838
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8383
Overall Rank
SWDA.L Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8484
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8181
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8383
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.

IEMU.L vs. SWDA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (IEMU.L) and iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.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.

IEMU.LSWDA.LDifference
Sharpe ratioReturn per unit of total volatility
1.18
2.27

-1.09

Sortino ratioReturn per unit of downside risk
1.80
3.37

-1.57

Omega ratioGain probability vs. loss probability

1.22

1.41

-0.19

Calmar ratioReturn relative to maximum drawdown

1.63

3.02

-1.39

Martin ratioReturn relative to average drawdown

5.85

13.29

-7.44

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

IEMU.L vs. SWDA.L - Sharpe Ratio Comparison

The current IEMU.L Sharpe Ratio is 1.18, which is lower than the SWDA.L Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of IEMU.L and SWDA.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.

Loading charts...

Sharpe Ratios by Period

IEMU.LSWDA.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.18

2.27

-1.09

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.78

-0.27

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.83

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.56

0.73

-0.16

Drawdowns

IEMU.L vs. SWDA.L - Drawdown Comparison

The maximum IEMU.L drawdown since its inception was -38.74%, which is greater than SWDA.L's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for IEMU.L and SWDA.L.

Loading charts...

Drawdown Indicators

IEMU.LSWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.74%

-33.62%

-5.12%

Max Drawdown (1Y)

Largest decline over 1 year

-12.28%

-8.59%

-3.69%

Max Drawdown (3Y)

Largest decline over 3 years

-14.50%

-17.07%

+2.57%

Max Drawdown (5Y)

Largest decline over 5 years

-35.69%

-26.50%

-9.19%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.62%

—

Current Drawdown

Current decline from peak

-0.31%

-0.41%

+0.10%

Average Drawdown

Average peak-to-trough decline

-6.94%

-4.58%

-2.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.43%

1.95%

+1.48%

Volatility

IEMU.L vs. SWDA.L - Volatility Comparison

iShares VII plc -iShares Core MSCI EMU UCITS ETF EUR (Acc) (IEMU.L) has a higher volatility of 5.66% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 2.81%. This indicates that IEMU.L's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IEMU.LSWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.66%

2.81%

+2.85%

Volatility (6M)

Calculated over the trailing 6-month period

14.14%

8.58%

+5.56%

Volatility (1Y)

Calculated over the trailing 1-year period

16.96%

11.41%

+5.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.30%

15.30%

+5.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.99%

15.73%

+6.26%

IEMU.L vs. SWDA.L - Expense Ratio Comparison

IEMU.L has a 0.12% expense ratio, which is lower than SWDA.L's 0.20% 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

IEMU.L vs. SWDA.L - Dividend Comparison

Neither IEMU.L nor SWDA.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

IEMU.L and SWDA.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEMU.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEMU.L is cheaper with a 0.12% expense ratio, compared with 0.20% for SWDA.L.

IEMU.L is categorized as Europe Equities, while SWDA.L is Global Equities. IEMU.L tracks MSCI EMU NR EUR, while SWDA.L tracks MSCI World Index. Their fees differ too: 0.12% for IEMU.L and 0.20% for SWDA.L.

Portfolio Optimizer

Find the right allocation for IEMU.L and SWDA.L

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer