IQSA.L vs. XZEM.DE
IQSA.L (Invesco Global Active ESG Equity UCITS ETF USD Acc) and XZEM.DE (Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C) are both exchange-traded funds - IQSA.L is a Global Equities fund actively managed by Invesco, while XZEM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Low Carbon SRI Leaders. IQSA.L is actively managed, while XZEM.DE is passively managed. Over the past 5 years, IQSA.L returned 14.40%/yr vs 2.18%/yr for XZEM.DE. A 0.59 correlation means they provide meaningful diversification when combined. IQSA.L charges 0.30%/yr vs 0.25%/yr for XZEM.DE.
Performance
IQSA.L vs. XZEM.DE - Performance Comparison
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Different Trading Currencies
IQSA.L is traded in USD, while XZEM.DE is traded in EUR. To make them comparable, the XZEM.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, IQSA.L achieves a 14.07% return, which is significantly higher than XZEM.DE's 10.41% return.
IQSA.L
- 1D
- 0.00%
- 1M
- 5.34%
- YTD
- 14.07%
- 6M
- 16.56%
- 1Y
- 30.89%
- 3Y*
- 25.43%
- 5Y*
- 14.40%
- 10Y*
- —
XZEM.DE
- 1D
- -1.15%
- 1M
- 0.52%
- YTD
- 10.41%
- 6M
- 11.39%
- 1Y
- 29.42%
- 3Y*
- 17.32%
- 5Y*
- 2.18%
- 10Y*
- —
IQSA.L vs. XZEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IQSA.L Invesco Global Active ESG Equity UCITS ETF USD Acc | 14.07% | 22.67% | 22.82% | 24.38% | -14.01% | 24.96% | 10.21% | 7.44% |
XZEM.DE Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C | 10.41% | 31.55% | 10.23% | 3.36% | -19.03% | -11.74% | 16.48% | 10.20% |
Correlation
The correlation between IQSA.L and XZEM.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2019 | 0.59 |
The correlation between IQSA.L and XZEM.DE has been stable across timeframes, ranging from 0.59 to 0.67 - a consistent structural relationship.
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Return for Risk
IQSA.L vs. XZEM.DE — Risk / Return Rank
IQSA.L
XZEM.DE
IQSA.L vs. XZEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.L) and Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XZEM.DE). 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.
| IQSA.L | XZEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.29 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 2.29 | +1.27 |
| Martin ratioReturn relative to average drawdown | 15.35 | 7.75 | +7.61 |
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
| IQSA.L | XZEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.35 | 1.63 | +0.73 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.11 | +0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.92 | 0.29 | +0.63 |
Drawdowns
IQSA.L vs. XZEM.DE - Drawdown Comparison
The maximum IQSA.L drawdown since its inception was -34.64%, smaller than the maximum XZEM.DE drawdown of -48.84%. Use the drawdown chart below to compare losses from any high point for IQSA.L and XZEM.DE.
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Drawdown Indicators
| IQSA.L | XZEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.64% | -48.84% | +14.20% |
Max Drawdown (1Y)Largest decline over 1 year | -8.65% | -12.81% | +4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -17.00% | -17.52% | +0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -25.67% | -44.23% | +18.56% |
Current DrawdownCurrent decline from peak | -0.53% | -3.36% | +2.83% |
Average DrawdownAverage peak-to-trough decline | -4.91% | -21.74% | +16.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 3.79% | -1.78% |
Volatility
IQSA.L vs. XZEM.DE - Volatility Comparison
The current volatility for Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.L) is 4.00%, while Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XZEM.DE) has a volatility of 6.25%. This indicates that IQSA.L experiences smaller price fluctuations and is considered to be less risky than XZEM.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQSA.L | XZEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 6.25% | -2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 10.26% | 14.80% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.06% | 18.10% | -5.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.54% | 20.42% | -3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.14% | 22.20% | -4.06% |
IQSA.L vs. XZEM.DE - Expense Ratio Comparison
IQSA.L has a 0.30% expense ratio, which is higher than XZEM.DE's 0.25% expense ratio.
Dividends
IQSA.L vs. XZEM.DE - Dividend Comparison
Neither IQSA.L nor XZEM.DE has paid dividends to shareholders.
Frequently Asked Questions
IQSA.L and XZEM.DE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XZEM.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XZEM.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for IQSA.L.
IQSA.L is categorized as Global Equities, while XZEM.DE is Emerging Markets Equities. They also come from different issuers: Invesco and Xtrackers. Their fees differ too: 0.30% for IQSA.L and 0.25% for XZEM.DE.
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