IKSA.L vs. EMDV.L

Last updated Jul 21, 2026

IKSA.L (iShares MSCI Saudi Arabia Capped UCITS ETF USD (Acc)) and EMDV.L (SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)) are both Emerging Markets Equities funds - IKSA.L tracks the MSCI Saudi Arabia 20/35 Index (USD) while EMDV.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, IKSA.L returned 2.16%/yr vs 6.60%/yr for EMDV.L. At a 0.41 correlation, their price movements are largely independent. IKSA.L charges 0.60%/yr vs 0.55%/yr for EMDV.L.

Performance

IKSA.L vs. EMDV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Saudi Arabia Capped UCITS ETF USD (Acc) (IKSA.L) and SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IKSA.L is traded in USD, while EMDV.L is traded in GBP. To make them comparable, the EMDV.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IKSA.L achieves a 4.48% return, which is significantly lower than EMDV.L's 7.61% return.

IKSA.L

• 1D: 0.80%
• 1M: -3.08%
• 6M: -1.10%
• YTD: 4.48%
• 1Y: 3.45%
• 3Y*: -0.16%
• 5Y*: 2.16%
• 10Y*: —
• ALL TIME*: 3.23%

EMDV.L

• 1D: -0.41%
• 1M: 3.81%
• 6M: 3.14%
• YTD: 7.61%
• 1Y: 8.14%
• 3Y*: 12.80%
• 5Y*: 6.60%
• 10Y*: 5.90%
• ALL TIME*: -1.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IKSA.L vs. EMDV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
IKSA.L iShares MSCI Saudi Arabia Capped UCITS ETF USD (Acc)	4.48%	-5.49%	0.31%	9.40%	-5.61%	36.71%	0.68%	-10.51%
EMDV.L SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)	7.61%	19.28%	14.38%	4.54%	-8.97%	-0.72%	-2.21%	3.43%

Correlation

The correlation between IKSA.L and EMDV.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Apr 10, 2019	0.41

The correlation between IKSA.L and EMDV.L shifts across timeframes, from 0.30 (1 year) to 0.41 (all time), reflecting how their relationship changes across market environments.

IKSA.L vs. EMDV.L - Sectors Allocation Comparison

Sectors	IKSA.L	EMDV.L
Financial Services	46.0%	33.3%
Energy	15.2%	4.1%
Basic Materials	13.7%	1.6%
Communication Services	10.3%	12.5%
Utilities	5.2%	1.6%
Healthcare	2.1%	2.5%
Consumer Defensive	1.9%	2.4%
Consumer Cyclical	1.8%	14.0%
Technology	1.4%	9.5%
Industrials	1.3%	10.6%
Real Estate	0.9%	8.1%

Return for Risk

IKSA.L vs. EMDV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IKSA.L

IKSA.L Risk / Return Rank: 14
IKSA.L Sharpe Ratio Rank: 15
IKSA.L Sortino Ratio Rank: 14
IKSA.L Omega Ratio Rank: 14
IKSA.L Calmar Ratio Rank: 15
IKSA.L Martin Ratio Rank: 14

EMDV.L

EMDV.L Risk / Return Rank: 28
EMDV.L Sharpe Ratio Rank: 30
EMDV.L Sortino Ratio Rank: 28
EMDV.L Omega Ratio Rank: 27
EMDV.L Calmar Ratio Rank: 29
EMDV.L Martin Ratio Rank: 25

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.

IKSA.L vs. EMDV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Saudi Arabia Capped UCITS ETF USD (Acc) (IKSA.L) and SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.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.

	IKSA.L	EMDV.L	Difference
Sharpe ratio: Return per unit of total volatility	0.22	0.64	-0.42
Sortino ratio: Return per unit of downside risk	0.46	0.99	-0.54
Omega ratio: Gain probability vs. loss probability	1.05	1.12	-0.06
Calmar ratio: Return relative to maximum drawdown	0.31	0.82	-0.51
Martin ratio: Return relative to average drawdown	0.66	1.92	-1.26

IKSA.L vs. EMDV.L - Sharpe Ratio Comparison

The current IKSA.L Sharpe Ratio is 0.22, which is lower than the EMDV.L Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of IKSA.L and EMDV.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.

Drawdowns

IKSA.L vs. EMDV.L - Drawdown Comparison

The maximum IKSA.L drawdown since its inception was -52.22%, smaller than the maximum EMDV.L drawdown of -65.26%. Use the drawdown chart below to compare losses from any high point for IKSA.L and EMDV.L.

Drawdown Indicators

	IKSA.L	EMDV.L	Difference
Max Drawdown Largest peak-to-trough decline	-52.22%	-65.26%	+13.04%
Max Drawdown (1Y) Largest decline over 1 year	-11.09%	-9.93%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.79%	-14.87%	-0.92%
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	-28.44%	-1.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.90%	—
Current Drawdown Current decline from peak	-18.01%	-15.01%	-3.00%
Average Drawdown Average peak-to-trough decline	-15.63%	-40.55%	+24.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.19%	4.23%	+0.96%

Volatility

IKSA.L vs. EMDV.L - Volatility Comparison

The current volatility for iShares MSCI Saudi Arabia Capped UCITS ETF USD (Acc) (IKSA.L) is 2.87%, while SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist) (EMDV.L) has a volatility of 3.20%. This indicates that IKSA.L experiences smaller price fluctuations and is considered to be less risky than EMDV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IKSA.L	EMDV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	3.20%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	10.72%	10.27%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	12.65%	+2.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	16.84%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.01%	18.18%	+4.83%

IKSA.L vs. EMDV.L - Expense Ratio Comparison

IKSA.L has a 0.60% expense ratio, which is higher than EMDV.L's 0.55% expense ratio.

Dividends

IKSA.L vs. EMDV.L - Dividend Comparison

IKSA.L has not paid dividends to shareholders, while EMDV.L's dividend yield for the trailing twelve months is around 3.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMDV.L SPDR S&P Emerging Markets Dividend Aristocrats UCITS ETF (Dist)	3.73%	3.90%	4.07%	4.99%	4.45%	3.28%	3.19%	3.83%	3.49%	2.89%	4.15%	5.95%
IKSA.L iShares MSCI Saudi Arabia Capped UCITS ETF USD (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%

Frequently Asked Questions

Can I hold both IKSA.L and EMDV.L in my portfolio?

IKSA.L and EMDV.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IKSA.L or EMDV.L?

On fees, EMDV.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IKSA.L or EMDV.L?

EMDV.L is cheaper with a 0.55% expense ratio, compared with 0.60% for IKSA.L.

What is the main difference between IKSA.L and EMDV.L?

IKSA.L tracks MSCI Saudi Arabia 20/35 Index (USD), while EMDV.L tracks MSCI EM NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.60% for IKSA.L and 0.55% for EMDV.L.