IESG.L vs. FSEM.L
IESG.L (iShares MSCI Europe SRI UCITS ETF) and FSEM.L (Fidelity Sustainable USD EM Bond UCITS ETF Inc) are both exchange-traded funds - IESG.L is a ESG fund tracking the MSCI Europe SRI Select Reduced Fossil Fuel Index, while FSEM.L is a Emerging Markets Bonds fund actively managed by Fidelity. IESG.L is passively managed, while FSEM.L is actively managed. Over the past 5 years, IESG.L returned 5.54%/yr vs 2.63%/yr for FSEM.L. At a 0.17 correlation, their price movements are largely independent. IESG.L charges 0.20%/yr vs 0.45%/yr for FSEM.L.
Performance
IESG.L vs. FSEM.L - Performance Comparison
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Different Trading Currencies
IESG.L is traded in GBp, while FSEM.L is traded in USD. To make them comparable, the FSEM.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IESG.L achieves a 6.07% return, which is significantly higher than FSEM.L's 3.32% return.
IESG.L
- 1D
- 0.99%
- 1M
- 3.90%
- YTD
- 6.07%
- 6M
- 7.58%
- 1Y
- 8.35%
- 3Y*
- 7.12%
- 5Y*
- 5.54%
- 10Y*
- 8.90%
FSEM.L
- 1D
- 0.09%
- 1M
- 1.82%
- YTD
- 3.32%
- 6M
- 2.73%
- 1Y
- 13.62%
- 3Y*
- 6.08%
- 5Y*
- 2.63%
- 10Y*
- —
IESG.L vs. FSEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IESG.L iShares MSCI Europe SRI UCITS ETF | 6.07% | 8.44% | 0.88% | 14.27% | -9.89% | 16.91% |
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 3.32% | 5.25% | 5.32% | 3.38% | -8.14% | 4.21% |
Correlation
The correlation between IESG.L and FSEM.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2021 | 0.17 |
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Return for Risk
IESG.L vs. FSEM.L — Risk / Return Rank
IESG.L
FSEM.L
IESG.L vs. FSEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe SRI UCITS ETF (IESG.L) and Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.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.
| IESG.L | FSEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.32 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.73 | 2.38 | -1.65 |
| Martin ratioReturn relative to average drawdown | 2.41 | 6.80 | -4.40 |
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
| IESG.L | FSEM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 1.72 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.39 | 0.26 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.24 | +0.27 |
Drawdowns
IESG.L vs. FSEM.L - Drawdown Comparison
The maximum IESG.L drawdown since its inception was -25.95%, which is greater than FSEM.L's maximum drawdown of -15.36%. Use the drawdown chart below to compare losses from any high point for IESG.L and FSEM.L.
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Drawdown Indicators
| IESG.L | FSEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.95% | -15.36% | -10.59% |
Max Drawdown (1Y)Largest decline over 1 year | -11.32% | -5.70% | -5.62% |
Max Drawdown (3Y)Largest decline over 3 years | -15.07% | -9.08% | -5.99% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -15.36% | -5.41% |
Max Drawdown (10Y)Largest decline over 10 years | -25.95% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.12% | +1.12% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -6.53% | +1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 2.00% | +1.46% |
Volatility
IESG.L vs. FSEM.L - Volatility Comparison
iShares MSCI Europe SRI UCITS ETF (IESG.L) has a higher volatility of 3.93% compared to Fidelity Sustainable USD EM Bond UCITS ETF Inc (FSEM.L) at 2.91%. This indicates that IESG.L's price experiences larger fluctuations and is considered to be riskier than FSEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IESG.L | FSEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 2.91% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 6.39% | +4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.75% | 7.90% | +4.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.15% | 10.22% | +3.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.84% | 10.13% | +4.71% |
IESG.L vs. FSEM.L - Expense Ratio Comparison
IESG.L has a 0.20% expense ratio, which is lower than FSEM.L's 0.45% expense ratio.
Dividends
IESG.L vs. FSEM.L - Dividend Comparison
IESG.L has not paid dividends to shareholders, while FSEM.L's dividend yield for the trailing twelve months is around 7.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
FSEM.L Fidelity Sustainable USD EM Bond UCITS ETF Inc | 7.90% | 6.31% | 6.49% | 5.74% | 5.01% | 2.41% |
IESG.L iShares MSCI Europe SRI UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IESG.L and FSEM.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IESG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IESG.L is cheaper with a 0.20% expense ratio, compared with 0.45% for FSEM.L.
IESG.L is categorized as ESG, while FSEM.L is Emerging Markets Bonds. They also come from different issuers: iShares and Fidelity. Their fees differ too: 0.20% for IESG.L and 0.45% for FSEM.L.
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