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IRSA.L vs. SEDY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IRSA.L vs. SEDY.L

Last updated Jul 22, 2026
Documentation

IRSA.L (iShares MSCI South Africa UCITS ETF USD (Acc)) and SEDY.L (iShares Emerging Markets Dividend UCITS ETF) are both Emerging Markets Equities funds from iShares - IRSA.L tracks the MSCI South Africa 20/35 Index while SEDY.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, IRSA.L returned 6.22%/yr vs 6.33%/yr for SEDY.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

IRSA.L vs. SEDY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI South Africa UCITS ETF USD (Acc) (IRSA.L) and iShares Emerging Markets Dividend UCITS ETF (SEDY.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IRSA.L is traded in USD, while SEDY.L is traded in GBp. To make them comparable, the SEDY.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IRSA.L achieves a -7.51% return, which is significantly lower than SEDY.L's 9.58% return. Both investments have delivered pretty close results over the past 10 years, with IRSA.L having a 6.22% annualized return and SEDY.L not far ahead at 6.33%.

IRSA.L

1D
1.05%
1M
-3.86%
6M
-13.31%
YTD
-7.51%
1Y
21.92%
3Y*
20.57%
5Y*
10.47%
10Y*
6.22%
ALL TIME*
5.15%

SEDY.L

1D
-0.19%
1M
0.65%
6M
5.02%
YTD
9.58%
1Y
20.76%
3Y*
18.66%
5Y*
4.95%
10Y*
6.33%
ALL TIME*
0.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IRSA.L vs. SEDY.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IRSA.L
iShares MSCI South Africa UCITS ETF USD (Acc)		-7.51%76.74%7.84%0.20%-3.75%3.99%-2.70%8.62%-24.11%34.90%
SEDY.L
iShares Emerging Markets Dividend UCITS ETF		9.58%27.66%6.90%18.97%-30.91%11.63%-2.97%14.87%-5.42%25.64%

Correlation

The correlation between IRSA.L and SEDY.L is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.66

Correlation (5Y)
Calculated over the trailing 5-year period

0.64

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Nov 25, 2011

0.70

The correlation between IRSA.L and SEDY.L has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

IRSA.L vs. SEDY.L - Sectors Allocation Comparison

Sectors
IRSA.L
SEDY.L

Financial Services

36.1%
29.1%

Basic Materials

34.8%
8.4%

Communication Services

19.2%
1.8%

Consumer Cyclical

3.5%
4.5%

Consumer Defensive

2.5%
2.4%

Real Estate

1.5%
3.6%

Industrials

1.3%
17.2%

Healthcare

0.9%

-

Energy

-

17.3%

Technology

-

8.7%

Utilities

-

7.0%

Financial Services

IRSA.L
36.1%
SEDY.L
29.1%

Basic Materials

IRSA.L
34.8%
SEDY.L
8.4%

Communication Services

IRSA.L
19.2%
SEDY.L
1.8%

Consumer Cyclical

IRSA.L
3.5%
SEDY.L
4.5%

Consumer Defensive

IRSA.L
2.5%
SEDY.L
2.4%

Real Estate

IRSA.L
1.5%
SEDY.L
3.6%

Industrials

IRSA.L
1.3%
SEDY.L
17.2%

Healthcare

IRSA.L
0.9%
SEDY.L

-

Energy

IRSA.L

-

SEDY.L
17.3%

Technology

IRSA.L

-

SEDY.L
8.7%

Utilities

IRSA.L

-

SEDY.L
7.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI South Africa UCITS ETF USD (Acc)

iShares Emerging Markets Dividend UCITS ETF

Often compared with IRSA.L:
IRSA.L vs. ISAC.LIRSA.L vs. CSP1.LIRSA.L vs. EIMI.LIRSA.L vs. KSTR.LIRSA.L vs. VPAC.LIRSA.L vs. CNDX.LIRSA.L vs. HTWD.L
Often compared with SEDY.L:
SEDY.L vs. SEML.LSEDY.L vs. SCHDSEDY.L vs. CUKX.LSEDY.L vs. IIND.LSEDY.L vs. VHYG.LSEDY.L vs. IEMGSEDY.L vs. IDAP.L

Return for Risk

IRSA.L vs. SEDY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IRSA.L
IRSA.L Risk / Return Rank: 2626
Overall Rank
IRSA.L Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
IRSA.L Sortino Ratio Rank: 2626
Sortino Ratio Rank
IRSA.L Omega Ratio Rank: 2626
Omega Ratio Rank
IRSA.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
IRSA.L Martin Ratio Rank: 2424
Martin Ratio Rank
SEDY.L
SEDY.L Risk / Return Rank: 7272
Overall Rank
SEDY.L Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SEDY.L Sortino Ratio Rank: 7575
Sortino Ratio Rank
SEDY.L Omega Ratio Rank: 7171
Omega Ratio Rank
SEDY.L Calmar Ratio Rank: 7777
Calmar Ratio Rank
SEDY.L Martin Ratio Rank: 6464
Martin Ratio Rank
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.

IRSA.L vs. SEDY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (IRSA.L) and iShares Emerging Markets Dividend UCITS ETF (SEDY.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.

IRSA.LSEDY.LDifference
Sharpe ratioReturn per unit of total volatility
0.67
1.51

-0.84

Sortino ratioReturn per unit of downside risk
1.10
2.11

-1.01

Omega ratioGain probability vs. loss probability

1.13

1.26

-0.12

Calmar ratioReturn relative to maximum drawdown

0.95

2.41

-1.46

Martin ratioReturn relative to average drawdown

1.99

6.59

-4.60

IRSA.L vs. SEDY.L - Sharpe Ratio Comparison

The current IRSA.L Sharpe Ratio is 0.67, which is lower than the SEDY.L Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of IRSA.L and SEDY.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.

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Drawdowns

IRSA.L vs. SEDY.L - Drawdown Comparison

The maximum IRSA.L drawdown since its inception was -61.84%, which is greater than SEDY.L's maximum drawdown of -55.31%. Use the drawdown chart below to compare losses from any high point for IRSA.L and SEDY.L.

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Drawdown Indicators

IRSA.LSEDY.LDifference

Max Drawdown

Largest peak-to-trough decline

-61.84%

-55.31%

-6.53%

Max Drawdown (1Y)

Largest decline over 1 year

-22.87%

-8.58%

-14.29%

Max Drawdown (3Y)

Largest decline over 3 years

-22.87%

-13.31%

-9.56%

Max Drawdown (5Y)

Largest decline over 5 years

-34.44%

-40.64%

+6.20%

Max Drawdown (10Y)

Largest decline over 10 years

-61.84%

-40.64%

-21.20%

Current Drawdown

Current decline from peak

-22.06%

-4.83%

-17.23%

Average Drawdown

Average peak-to-trough decline

-17.86%

-24.24%

+6.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.97%

3.14%

+7.83%

Volatility

IRSA.L vs. SEDY.L - Volatility Comparison

iShares MSCI South Africa UCITS ETF USD (Acc) (IRSA.L) has a higher volatility of 6.77% compared to iShares Emerging Markets Dividend UCITS ETF (SEDY.L) at 3.71%. This indicates that IRSA.L's price experiences larger fluctuations and is considered to be riskier than SEDY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IRSA.LSEDY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.77%

3.71%

+3.06%

Volatility (6M)

Calculated over the trailing 6-month period

27.36%

11.45%

+15.91%

Volatility (1Y)

Calculated over the trailing 1-year period

32.51%

13.72%

+18.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.66%

17.06%

+11.60%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

29.78%

17.32%

+12.46%

IRSA.L vs. SEDY.L - Expense Ratio Comparison

Both IRSA.L and SEDY.L have an expense ratio of 0.65%.

Dividends

IRSA.L vs. SEDY.L - Dividend Comparison

IRSA.L has not paid dividends to shareholders, while SEDY.L's dividend yield for the trailing twelve months is around 5.08%.

PositionTTM20252024202320222021202020192018201720162015
IRSA.L
iShares MSCI South Africa 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%
SEDY.L
iShares Emerging Markets Dividend UCITS ETF		5.08%5.72%7.74%7.99%9.32%6.42%5.11%5.84%5.54%4.07%4.25%6.31%

Frequently Asked Questions

IRSA.L and SEDY.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

IRSA.L and SEDY.L have the same expense ratio: 0.65% per year.

IRSA.L tracks MSCI South Africa 20/35 Index, while SEDY.L tracks MSCI EM NR USD.

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