IPOL.L vs. FEM.L
IPOL.L (iShares MSCI Poland UCITS ETF USD (Acc)) and FEM.L (First Trust Emerging Markets AlphaDEX UCITS ETF Acc) are both Emerging Markets Equities funds - IPOL.L tracks the MSCI Emerging - Poland in Net USD while FEM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, IPOL.L returned 9.64%/yr vs 7.87%/yr for FEM.L. A 0.56 correlation means they provide meaningful diversification when combined. IPOL.L charges 0.74%/yr vs 0.80%/yr for FEM.L.
Performance
IPOL.L vs. FEM.L - Performance Comparison
Loading charts...
Different Trading Currencies
IPOL.L is traded in USD, while FEM.L is traded in GBp. To make them comparable, the FEM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IPOL.L achieves a 14.81% return, which is significantly higher than FEM.L's 11.95% return. Over the past 10 years, IPOL.L has outperformed FEM.L with an annualized return of 9.64%, while FEM.L has yielded a comparatively lower 7.87% annualized return.
IPOL.L
- 1D
- -1.18%
- 1M
- -2.95%
- 6M
- 12.69%
- YTD
- 14.81%
- 1Y
- 30.84%
- 3Y*
- 28.08%
- 5Y*
- 14.78%
- 10Y*
- 9.64%
FEM.L
- 1D
- -2.49%
- 1M
- -5.08%
- 6M
- 6.58%
- YTD
- 11.95%
- 1Y
- 26.15%
- 3Y*
- 15.04%
- 5Y*
- 6.37%
- 10Y*
- 7.87%
IPOL.L vs. FEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IPOL.L iShares MSCI Poland UCITS ETF USD (Acc) | 14.81% | 72.75% | -6.10% | 49.20% | -26.61% | 6.83% | -11.21% | -6.81% | -12.61% | 54.17% |
FEM.L First Trust Emerging Markets AlphaDEX UCITS ETF Acc | 11.95% | 27.40% | 3.37% | 9.71% | -14.08% | 7.73% | -1.00% | 19.72% | -16.32% | 39.74% |
Correlation
The correlation between IPOL.L and FEM.L is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Apr 9, 2013 | 0.56 |
The correlation between IPOL.L and FEM.L has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IPOL.L vs. FEM.L — Risk / Return Rank
IPOL.L
FEM.L
IPOL.L vs. FEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.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.
| IPOL.L | FEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 3.10 | -0.17 |
| Martin ratioReturn relative to average drawdown | 6.74 | 8.32 | -1.58 |
Loading charts...
Drawdowns
IPOL.L vs. FEM.L - Drawdown Comparison
The maximum IPOL.L drawdown since its inception was -68.05%, which is greater than FEM.L's maximum drawdown of -56.43%. Use the drawdown chart below to compare losses from any high point for IPOL.L and FEM.L.
Loading charts...
Drawdown Indicators
| IPOL.L | FEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.05% | -56.43% | -11.62% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -8.39% | -2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -17.77% | -4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -55.92% | -31.03% | -24.89% |
Max Drawdown (10Y)Largest decline over 10 years | -65.79% | -45.92% | -19.87% |
Current DrawdownCurrent decline from peak | -2.95% | -8.39% | +5.44% |
Average DrawdownAverage peak-to-trough decline | -29.57% | -25.56% | -4.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.57% | 3.14% | +1.43% |
Volatility
IPOL.L vs. FEM.L - Volatility Comparison
The current volatility for iShares MSCI Poland UCITS ETF USD (Acc) (IPOL.L) is 5.32%, while First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L) has a volatility of 7.27%. This indicates that IPOL.L experiences smaller price fluctuations and is considered to be less risky than FEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IPOL.L | FEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 7.27% | -1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 19.48% | 15.35% | +4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.82% | 18.64% | +6.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.15% | 18.62% | +11.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.40% | 19.98% | +7.42% |
IPOL.L vs. FEM.L - Expense Ratio Comparison
IPOL.L has a 0.74% expense ratio, which is lower than FEM.L's 0.80% expense ratio.
Dividends
IPOL.L vs. FEM.L - Dividend Comparison
Neither IPOL.L nor FEM.L has paid dividends to shareholders.
Frequently Asked Questions
IPOL.L and FEM.L have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IPOL.L is cheaper at 0.74% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IPOL.L is cheaper with a 0.74% expense ratio, compared with 0.80% for FEM.L.
IPOL.L tracks MSCI Emerging - Poland in Net USD, while FEM.L tracks MSCI EM NR USD. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.74% for IPOL.L and 0.80% for FEM.L.
Find the right allocation for IPOL.L and FEM.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