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ISF.L vs. VFEM.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISF.L vs. VFEM.L

Last updated Jun 13, 2026

ISF.L (iShares Core FTSE 100 UCITS ETF (Dist)) and VFEM.L (Vanguard FTSE Emerging Markets UCITS ETF Distributing) are both exchange-traded funds - ISF.L is a Europe Equities fund tracking the FTSE AllSh TR GBP, while VFEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 10 years, ISF.L returned 9.81%/yr vs 9.54%/yr for VFEM.L. A 0.63 correlation means they provide meaningful diversification when combined. ISF.L charges 0.07%/yr vs 0.22%/yr for VFEM.L.

Performance

ISF.L vs. VFEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) and Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

ISF.L is traded in GBp, while VFEM.L is traded in GBP. To make them comparable, the VFEM.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, ISF.L achieves a 7.07% return, which is significantly lower than VFEM.L's 10.41% return. Both investments have delivered pretty close results over the past 10 years, with ISF.L having a 9.81% annualized return and VFEM.L not far behind at 9.54%.

ISF.L

1D
1.50%
1M
1.56%
YTD
7.07%
6M
10.11%
1Y
21.22%
3Y*
15.23%
5Y*
11.88%
10Y*
9.81%

VFEM.L

1D
1.96%
1M
-0.07%
YTD
10.41%
6M
11.41%
1Y
25.82%
3Y*
14.24%
5Y*
5.97%
10Y*
9.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ISF.L vs. VFEM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ISF.L
iShares Core FTSE 100 UCITS ETF (Dist)		7.07%25.97%9.28%7.81%4.83%17.68%-11.67%17.11%-8.96%13.10%
VFEM.L
Vanguard FTSE Emerging Markets UCITS ETF Distributing		10.41%16.90%14.50%1.36%-7.39%0.09%11.19%15.14%-7.60%19.93%

Correlation

The correlation between ISF.L and VFEM.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

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

0.49

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

0.48

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

0.59

Correlation (All Time)
Calculated using the full available price history since May 22, 2012

0.63

Over the past year, the correlation between ISF.L and VFEM.L has dropped to 0.43 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

ISF.L vs. VFEM.L - Sectors Allocation Comparison

Sectors
ISF.L
VFEM.L

Financial Services

24.8%
20.8%

Industrials

13.8%
7.1%

Healthcare

13.8%
3.4%

Consumer Defensive

12.8%
3.6%

Energy

11.9%
4.9%

Basic Materials

8.6%
7.8%

Utilities

5.3%
3.0%

Consumer Cyclical

4.7%
10.8%

Communication Services

2.6%
7.5%

Real Estate

0.9%
1.7%

Technology

0.8%
29.6%

Financial Services

ISF.L
24.8%
VFEM.L
20.8%

Industrials

ISF.L
13.8%
VFEM.L
7.1%

Healthcare

ISF.L
13.8%
VFEM.L
3.4%

Consumer Defensive

ISF.L
12.8%
VFEM.L
3.6%

Energy

ISF.L
11.9%
VFEM.L
4.9%

Basic Materials

ISF.L
8.6%
VFEM.L
7.8%

Utilities

ISF.L
5.3%
VFEM.L
3.0%

Consumer Cyclical

ISF.L
4.7%
VFEM.L
10.8%

Communication Services

ISF.L
2.6%
VFEM.L
7.5%

Real Estate

ISF.L
0.9%
VFEM.L
1.7%

Technology

ISF.L
0.8%
VFEM.L
29.6%

Compare stocks, funds, or ETFs

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iShares Core FTSE 100 UCITS ETF (Dist)

Vanguard FTSE Emerging Markets UCITS ETF Distributing

Often compared with ISF.L:
ISF.L vs. VUKE.LISF.L vs. HUKX.LISF.L vs. UKDV.LISF.L vs. XDAX.LISF.L vs. VUSA.ASISF.L vs. VOOISF.L vs. FEUI.L
Often compared with VFEM.L:
VFEM.L vs. VWRP.LVFEM.L vs. EEMAVFEM.L vs. VUSA.LVFEM.L vs. VOOVFEM.L vs. VUKE.LVFEM.L vs. VUAG.LVFEM.L vs. LGGG.L

Return for Risk

ISF.L vs. VFEM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ISF.L
ISF.L Risk / Return Rank: 6363
Overall Rank
ISF.L Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
ISF.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
ISF.L Omega Ratio Rank: 7171
Omega Ratio Rank
ISF.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
ISF.L Martin Ratio Rank: 5252
Martin Ratio Rank
VFEM.L
VFEM.L Risk / Return Rank: 6262
Overall Rank
VFEM.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
VFEM.L Sortino Ratio Rank: 6161
Sortino Ratio Rank
VFEM.L Omega Ratio Rank: 6262
Omega Ratio Rank
VFEM.L Calmar Ratio Rank: 6666
Calmar Ratio Rank
VFEM.L Martin Ratio Rank: 6060
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.

ISF.L vs. VFEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) and Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.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.

ISF.LVFEM.LDifference
Sharpe ratioReturn per unit of total volatility
1.93
1.83

+0.11

Sortino ratioReturn per unit of downside risk
2.72
2.50

+0.22

Omega ratioGain probability vs. loss probability

1.36

1.33

+0.03

Calmar ratioReturn relative to maximum drawdown

2.40

2.88

-0.49

Martin ratioReturn relative to average drawdown

7.89

9.32

-1.43

ISF.L vs. VFEM.L - Sharpe Ratio Comparison

The current ISF.L Sharpe Ratio is 1.93, which is comparable to the VFEM.L Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of ISF.L and VFEM.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

ISF.L vs. VFEM.L - Drawdown Comparison

The maximum ISF.L drawdown since its inception was -45.00%, which is greater than VFEM.L's maximum drawdown of -32.13%. Use the drawdown chart below to compare losses from any high point for ISF.L and VFEM.L.

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Drawdown Indicators

ISF.LVFEM.LDifference

Max Drawdown

Largest peak-to-trough decline

-45.00%

-32.13%

-12.87%

Max Drawdown (1Y)

Largest decline over 1 year

-8.82%

-8.92%

+0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-12.69%

-14.68%

+1.99%

Max Drawdown (5Y)

Largest decline over 5 years

-12.69%

-19.58%

+6.89%

Max Drawdown (10Y)

Largest decline over 10 years

-34.13%

-25.90%

-8.23%

Current Drawdown

Current decline from peak

-3.05%

-2.67%

-0.38%

Average Drawdown

Average peak-to-trough decline

-6.45%

-8.58%

+2.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.68%

2.76%

-0.08%

Volatility

ISF.L vs. VFEM.L - Volatility Comparison

The current volatility for iShares Core FTSE 100 UCITS ETF (Dist) (ISF.L) is 3.51%, while Vanguard FTSE Emerging Markets UCITS ETF Distributing (VFEM.L) has a volatility of 5.13%. This indicates that ISF.L experiences smaller price fluctuations and is considered to be less risky than VFEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISF.LVFEM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.51%

5.13%

-1.62%

Volatility (6M)

Calculated over the trailing 6-month period

9.53%

11.41%

-1.88%

Volatility (1Y)

Calculated over the trailing 1-year period

10.94%

14.09%

-3.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

12.59%

15.51%

-2.92%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.84%

17.49%

-2.65%

ISF.L vs. VFEM.L - Expense Ratio Comparison

ISF.L has a 0.07% expense ratio, which is lower than VFEM.L's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ISF.L vs. VFEM.L - Dividend Comparison

ISF.L's dividend yield for the trailing twelve months is around 1.71%, less than VFEM.L's 2.06% yield.

PositionTTM20252024202320222021202020192018201720162015
ISF.L
iShares Core FTSE 100 UCITS ETF (Dist)		1.71%3.01%3.71%3.86%3.75%3.76%3.11%4.47%4.44%3.96%3.79%4.12%
VFEM.L
Vanguard FTSE Emerging Markets UCITS ETF Distributing		2.06%2.36%2.31%2.63%3.28%2.26%1.94%2.43%2.73%2.22%2.22%2.82%

Frequently Asked Questions

ISF.L and VFEM.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ISF.L is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ISF.L is cheaper with a 0.07% expense ratio, compared with 0.22% for VFEM.L.

ISF.L is categorized as Europe Equities, while VFEM.L is Emerging Markets Equities. ISF.L tracks FTSE AllSh TR GBP, while VFEM.L tracks MSCI EM NR USD. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.07% for ISF.L and 0.22% for VFEM.L.

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