IEUX.L vs. EMIM.L
IEUX.L (iShares MSCI Europe ex-UK UCITS) and EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both exchange-traded funds - IEUX.L is a Europe Equities fund tracking the MSCI Europe ex-UK NR EUR, while EMIM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, IEUX.L returned 10.42%/yr vs 11.09%/yr for EMIM.L. A 0.67 correlation means they provide meaningful diversification when combined. IEUX.L charges 0.40%/yr vs 0.18%/yr for EMIM.L.
Performance
IEUX.L vs. EMIM.L - Performance Comparison
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Returns By Period
In the year-to-date period, IEUX.L achieves a 7.00% return, which is significantly lower than EMIM.L's 24.23% return. Over the past 10 years, IEUX.L has underperformed EMIM.L with an annualized return of 10.42%, while EMIM.L has yielded a comparatively higher 11.09% annualized return.
IEUX.L
- 1D
- 0.97%
- 1M
- 4.29%
- YTD
- 7.00%
- 6M
- 9.12%
- 1Y
- 18.55%
- 3Y*
- 13.29%
- 5Y*
- 9.21%
- 10Y*
- 10.42%
EMIM.L
- 1D
- -1.35%
- 1M
- 5.54%
- YTD
- 24.23%
- 6M
- 26.48%
- 1Y
- 50.85%
- 3Y*
- 20.15%
- 5Y*
- 8.76%
- 10Y*
- 11.09%
IEUX.L vs. EMIM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IEUX.L iShares MSCI Europe ex-UK UCITS | 7.00% | 25.52% | 1.87% | 14.91% | -6.98% | 16.31% | 7.53% | 20.67% | -9.95% | 16.33% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
Correlation
The correlation between IEUX.L and EMIM.L is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2014 | 0.67 |
The correlation between IEUX.L and EMIM.L shifts across timeframes, from 0.57 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IEUX.L vs. EMIM.L — Risk / Return Rank
IEUX.L
EMIM.L
IEUX.L vs. EMIM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ex-UK UCITS (IEUX.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.
| IEUX.L | EMIM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.57 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 4.63 | -2.92 |
| Martin ratioReturn relative to average drawdown | 6.10 | 16.57 | -10.46 |
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
| IEUX.L | EMIM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 3.04 | -1.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.55 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.67 | 0.62 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.49 | -0.08 |
Drawdowns
IEUX.L vs. EMIM.L - Drawdown Comparison
The maximum IEUX.L drawdown since its inception was -45.67%, which is greater than EMIM.L's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for IEUX.L and EMIM.L.
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Drawdown Indicators
| IEUX.L | EMIM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.67% | -31.70% | -13.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.76% | -10.92% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -13.16% | -15.56% | +2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -19.67% | -21.98% | +2.31% |
Max Drawdown (10Y)Largest decline over 10 years | -27.53% | -26.46% | -1.07% |
Current DrawdownCurrent decline from peak | -0.19% | -2.39% | +2.20% |
Average DrawdownAverage peak-to-trough decline | -7.45% | -8.71% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.03% | 3.06% | -0.03% |
Volatility
IEUX.L vs. EMIM.L - Volatility Comparison
The current volatility for iShares MSCI Europe ex-UK UCITS (IEUX.L) is 4.10%, while iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) has a volatility of 7.03%. This indicates that IEUX.L experiences smaller price fluctuations and is considered to be less risky than EMIM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IEUX.L | EMIM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 7.03% | -2.93% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 14.14% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.91% | 16.67% | -3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 15.82% | -1.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.44% | 17.81% | -2.37% |
IEUX.L vs. EMIM.L - Expense Ratio Comparison
IEUX.L has a 0.40% expense ratio, which is higher than EMIM.L's 0.18% expense ratio.
Dividends
IEUX.L vs. EMIM.L - Dividend Comparison
IEUX.L's dividend yield for the trailing twelve months is around 1.96%, while EMIM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEUX.L iShares MSCI Europe ex-UK UCITS | 1.96% | 2.12% | 2.41% | 2.33% | 2.25% | 1.65% | 1.44% | 2.42% | 2.60% | 2.23% | 2.17% | 2.11% |
Frequently Asked Questions
IEUX.L and EMIM.L have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMIM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.40% for IEUX.L.
IEUX.L is categorized as Europe Equities, while EMIM.L is Emerging Markets Equities. IEUX.L tracks MSCI Europe ex-UK NR EUR, while EMIM.L tracks MSCI EM NR USD. Their fees differ too: 0.40% for IEUX.L and 0.18% for EMIM.L.
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