ISX5.L vs. FEMKX

Last updated Jun 14, 2026

ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) and FEMKX (Fidelity Emerging Markets) are both funds - ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while FEMKX is a Emerging Markets Equities fund managed by Fidelity. Over the past 10 years, ISX5.L returned 13.05%/yr vs 11.98%/yr for FEMKX. A 0.54 correlation means they provide meaningful diversification when combined. ISX5.L charges 0.00%/yr vs 0.88%/yr for FEMKX.

Performance

ISX5.L vs. FEMKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and Fidelity Emerging Markets (FEMKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISX5.L achieves a 7.24% return, which is significantly lower than FEMKX's 21.74% return. Over the past 10 years, ISX5.L has outperformed FEMKX with an annualized return of 13.05%, while FEMKX has yielded a comparatively lower 11.98% annualized return.

ISX5.L

• 1D: 2.46%
• 1M: 3.59%
• YTD: 7.24%
• 6M: 8.56%
• 1Y: 19.84%
• 3Y*: 18.31%
• 5Y*: 10.63%
• 10Y*: 13.05%

FEMKX

• 1D: 5.11%
• 1M: -0.90%
• YTD: 21.74%
• 6M: 24.81%
• 1Y: 47.25%
• 3Y*: 20.93%
• 5Y*: 6.21%
• 10Y*: 11.98%

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

ISX5.L vs. FEMKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ISX5.L iShares Core EURO STOXX 50 UCITS ETF	7.24%	37.35%	4.59%	26.91%	-13.63%	13.94%	6.81%	25.61%	1.58%	9.70%
FEMKX Fidelity Emerging Markets	21.74%	31.02%	7.12%	15.16%	-27.48%	1.25%	32.56%	33.67%	-18.03%	46.92%

Correlation

The correlation between ISX5.L and FEMKX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since Jan 26, 2010	0.54

The correlation between ISX5.L and FEMKX has been stable across timeframes, ranging from 0.49 to 0.54 - a consistent structural relationship.

Return for Risk

ISX5.L vs. FEMKX — Risk / Return Rank

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

ISX5.L

ISX5.L Risk / Return Rank: 32
ISX5.L Sharpe Ratio Rank: 31
ISX5.L Sortino Ratio Rank: 32
ISX5.L Omega Ratio Rank: 31
ISX5.L Calmar Ratio Rank: 32
ISX5.L Martin Ratio Rank: 35

FEMKX

FEMKX Risk / Return Rank: 79
FEMKX Sharpe Ratio Rank: 78
FEMKX Sortino Ratio Rank: 68
FEMKX Omega Ratio Rank: 77
FEMKX Calmar Ratio Rank: 86
FEMKX Martin Ratio Rank: 83

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.

ISX5.L vs. FEMKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and Fidelity Emerging Markets (FEMKX). 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.

	ISX5.L	FEMKX	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.12	-1.13
Sortino ratio: Return per unit of downside risk	1.55	2.70	-1.14
Omega ratio: Gain probability vs. loss probability	1.19	1.40	-0.21
Calmar ratio: Return relative to maximum drawdown	1.39	3.46	-2.06
Martin ratio: Return relative to average drawdown	4.69	12.40	-7.72

ISX5.L vs. FEMKX - Sharpe Ratio Comparison

The current ISX5.L Sharpe Ratio is 0.98, which is lower than the FEMKX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of ISX5.L and FEMKX, 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

ISX5.L vs. FEMKX - Drawdown Comparison

The maximum ISX5.L drawdown since its inception was -38.62%, smaller than the maximum FEMKX drawdown of -71.14%. Use the drawdown chart below to compare losses from any high point for ISX5.L and FEMKX.

Drawdown Indicators

	ISX5.L	FEMKX	Difference
Max Drawdown Largest peak-to-trough decline	-38.62%	-71.14%	+32.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-13.00%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.36%	-19.13%	+3.77%
Max Drawdown (5Y) Largest decline over 5 years	-34.86%	-40.88%	+6.02%
Max Drawdown (10Y) Largest decline over 10 years	-38.62%	-43.24%	+4.62%
Current Drawdown Current decline from peak	-0.19%	-5.05%	+4.86%
Average Drawdown Average peak-to-trough decline	-8.34%	-25.93%	+17.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	3.62%	+0.23%

Volatility

ISX5.L vs. FEMKX - Volatility Comparison

The current volatility for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) is 5.29%, while Fidelity Emerging Markets (FEMKX) has a volatility of 11.94%. This indicates that ISX5.L experiences smaller price fluctuations and is considered to be less risky than FEMKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISX5.L	FEMKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	11.94%	-6.65%
Volatility (6M) Calculated over the trailing 6-month period	15.25%	18.90%	-3.65%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	21.23%	-2.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.91%	19.38%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	18.91%	+3.06%

ISX5.L vs. FEMKX - Expense Ratio Comparison

ISX5.L has a 0.00% expense ratio, which is lower than FEMKX's 0.88% expense ratio.

Dividends

ISX5.L vs. FEMKX - Dividend Comparison

ISX5.L has not paid dividends to shareholders, while FEMKX's dividend yield for the trailing twelve months is around 0.04%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEMKX Fidelity Emerging Markets	0.04%	0.05%	0.65%	1.11%	0.77%	6.00%	1.39%	1.71%	0.83%	0.08%	0.67%	0.51%
ISX5.L iShares Core EURO STOXX 50 UCITS ETF	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 ISX5.L and FEMKX in my portfolio?

ISX5.L and FEMKX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.