IUVD.L vs. EMXC

Last updated Jun 5, 2026

IUVD.L (iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)) and EMXC (iShares MSCI Emerging Markets ex China ETF) are both exchange-traded funds - IUVD.L is a Large Cap Value Equities fund tracking the Russell 1000 Value TR USD, while EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 5 years, IUVD.L returned 15.73%/yr vs 12.47%/yr for EMXC. At a 0.45 correlation, their price movements are largely independent. IUVD.L charges 0.20%/yr vs 0.49%/yr for EMXC.

Performance

IUVD.L vs. EMXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) and iShares MSCI Emerging Markets ex China ETF (EMXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IUVD.L achieves a 46.43% return, which is significantly higher than EMXC's 39.90% return.

IUVD.L

• 1D: -0.99%
• 1M: 15.70%
• YTD: 46.43%
• 6M: 50.36%
• 1Y: 89.18%
• 3Y*: 33.45%
• 5Y*: 15.73%
• 10Y*: —

EMXC

• 1D: -1.28%
• 1M: 8.45%
• YTD: 39.90%
• 6M: 45.10%
• 1Y: 73.97%
• 3Y*: 28.52%
• 5Y*: 12.47%
• 10Y*: —

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

IUVD.L vs. EMXC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)	46.43%	33.00%	6.51%	14.55%	-14.85%	29.63%	-1.41%	25.64%	-11.85%
EMXC iShares MSCI Emerging Markets ex China ETF	39.90%	35.14%	2.68%	18.96%	-19.56%	8.54%	12.76%	15.80%	-16.40%

Correlation

The correlation between IUVD.L and EMXC 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	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018	0.45

The correlation between IUVD.L and EMXC has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

IUVD.L vs. EMXC - Sectors Allocation Comparison

Sectors	IUVD.L	EMXC
Technology	44.9%	45.0%
Financial Services	10.4%	19.6%
Healthcare	8.4%	2.2%
Communication Services	8.3%	3.4%
Consumer Cyclical	8.3%	4.5%
Industrials	7.3%	8.3%
Consumer Defensive	4.0%	2.9%
Energy	3.2%	4.2%
Utilities	1.9%	2.3%
Real Estate	1.8%	1.0%
Basic Materials	1.6%	6.8%

Return for Risk

IUVD.L vs. EMXC — Risk / Return Rank

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

IUVD.L

IUVD.L Risk / Return Rank: 97
IUVD.L Sharpe Ratio Rank: 98
IUVD.L Sortino Ratio Rank: 98
IUVD.L Omega Ratio Rank: 97
IUVD.L Calmar Ratio Rank: 97
IUVD.L Martin Ratio Rank: 97

EMXC

EMXC Risk / Return Rank: 91
EMXC Sharpe Ratio Rank: 93
EMXC Sortino Ratio Rank: 90
EMXC Omega Ratio Rank: 92
EMXC Calmar Ratio Rank: 88
EMXC Martin Ratio Rank: 90

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.

IUVD.L vs. EMXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.

	IUVD.L	EMXC	Difference
Sharpe ratio: Return per unit of total volatility	5.38	3.42	+1.96
Sortino ratio: Return per unit of downside risk	7.24	4.21	+3.03
Omega ratio: Gain probability vs. loss probability	1.92	1.60	+0.32
Calmar ratio: Return relative to maximum drawdown	10.77	5.16	+5.62
Martin ratio: Return relative to average drawdown	44.44	20.85	+23.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUVD.L vs. EMXC - Sharpe Ratio Comparison

The current IUVD.L Sharpe Ratio is 5.38, which is higher than the EMXC Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of IUVD.L and EMXC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IUVD.L	EMXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.38	3.42	+1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.89	0.72	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.54	+0.14

Drawdowns

IUVD.L vs. EMXC - Drawdown Comparison

The maximum IUVD.L drawdown since its inception was -39.67%, smaller than the maximum EMXC drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for IUVD.L and EMXC.

Drawdown Indicators

	IUVD.L	EMXC	Difference
Max Drawdown Largest peak-to-trough decline	-39.67%	-42.81%	+3.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.23%	-14.41%	+6.18%
Max Drawdown (3Y) Largest decline over 3 years	-18.73%	-19.12%	+0.39%
Max Drawdown (5Y) Largest decline over 5 years	-26.77%	-28.91%	+2.14%
Current Drawdown Current decline from peak	-1.03%	-2.27%	+1.24%
Average Drawdown Average peak-to-trough decline	-8.12%	-10.19%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	3.56%	-1.56%

Volatility

IUVD.L vs. EMXC - Volatility Comparison

The current volatility for iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist) (IUVD.L) is 7.63%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 9.83%. This indicates that IUVD.L experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IUVD.L	EMXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	9.83%	-2.20%
Volatility (6M) Calculated over the trailing 6-month period	13.26%	19.41%	-6.15%
Volatility (1Y) Calculated over the trailing 1-year period	16.48%	21.75%	-5.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.72%	17.45%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	19.82%	+0.02%

IUVD.L vs. EMXC - Expense Ratio Comparison

IUVD.L has a 0.20% expense ratio, which is lower than EMXC's 0.49% expense ratio.

Dividends

IUVD.L vs. EMXC - Dividend Comparison

IUVD.L's dividend yield for the trailing twelve months is around 1.12%, less than EMXC's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMXC iShares MSCI Emerging Markets ex China ETF	2.01%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%
IUVD.L iShares Edge MSCI USA Value Factor UCITS ETF USD (Dist)	1.12%	1.64%	2.24%	2.27%	2.61%	1.85%	2.26%	2.26%	1.73%	0.00%

Frequently Asked Questions

Can I hold both IUVD.L and EMXC in my portfolio?

IUVD.L and EMXC 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.

Which ETF is better, IUVD.L or EMXC?

On fees, IUVD.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUVD.L or EMXC?

IUVD.L is cheaper with a 0.20% expense ratio, compared with 0.49% for EMXC.

What is the main difference between IUVD.L and EMXC?

IUVD.L is categorized as Large Cap Value Equities, while EMXC is Emerging Markets Equities. IUVD.L tracks Russell 1000 Value TR USD, while EMXC tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.20% for IUVD.L and 0.49% for EMXC.