LDEM vs. EVLU

Last updated Jun 4, 2026

LDEM (iShares ESG MSCI EM Leaders ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds from iShares - LDEM tracks the MSCI EM Extended ESG Leaders 5% Issuer Capped Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, LDEM returned 25.33% vs 72.04% for EVLU. Their correlation of 0.87 suggests significant overlap in exposure. LDEM charges 0.16%/yr vs 0.35%/yr for EVLU.

Performance

LDEM vs. EVLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG MSCI EM Leaders ETF (LDEM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDEM achieves a 6.92% return, which is significantly lower than EVLU's 34.01% return.

LDEM

• 1D: -1.61%
• 1M: 0.72%
• YTD: 6.92%
• 6M: 7.76%
• 1Y: 25.33%
• 3Y*: 15.06%
• 5Y*: 1.89%
• 10Y*: —

EVLU

• 1D: -2.27%
• 1M: 15.31%
• YTD: 34.01%
• 6M: 37.37%
• 1Y: 72.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LDEM vs. EVLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LDEM iShares ESG MSCI EM Leaders ETF	6.92%	32.49%	1.37%
EVLU iShares MSCI Emerging Markets Value Factor ETF	34.01%	38.54%	1.61%

Correlation

The correlation between LDEM and EVLU is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024	0.87

The correlation between LDEM and EVLU has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

Return for Risk

LDEM vs. EVLU — Risk / Return Rank

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

LDEM

LDEM Risk / Return Rank: 40
LDEM Sharpe Ratio Rank: 40
LDEM Sortino Ratio Rank: 39
LDEM Omega Ratio Rank: 42
LDEM Calmar Ratio Rank: 39
LDEM Martin Ratio Rank: 40

EVLU

EVLU Risk / Return Rank: 92
EVLU Sharpe Ratio Rank: 95
EVLU Sortino Ratio Rank: 93
EVLU Omega Ratio Rank: 93
EVLU Calmar Ratio Rank: 90
EVLU 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.

LDEM vs. EVLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI EM Leaders ETF (LDEM) and iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.

	LDEM	EVLU	Difference
Sharpe ratio Return per unit of total volatility	1.44	3.80	-2.36
Sortino ratio Return per unit of downside risk	2.03	4.71	-2.69
Omega ratio Gain probability vs. loss probability	1.27	1.67	-0.40
Calmar ratio Return relative to maximum drawdown	1.93	5.61	-3.69
Martin ratio Return relative to average drawdown	6.33	20.79	-14.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LDEM vs. EVLU - Sharpe Ratio Comparison

The current LDEM Sharpe Ratio is 1.44, which is lower than the EVLU Sharpe Ratio of 3.80. The chart below compares the historical Sharpe Ratios of LDEM and EVLU, 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

	LDEM	EVLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	3.80	-2.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	2.23	-1.97

Drawdowns

LDEM vs. EVLU - Drawdown Comparison

The maximum LDEM drawdown since its inception was -40.82%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for LDEM and EVLU.

Drawdown Indicators

	LDEM	EVLU	Difference
Max Drawdown Largest peak-to-trough decline	-40.82%	-17.17%	-23.65%
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	-12.90%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.17%	—	—
Current Drawdown Current decline from peak	-3.92%	-2.27%	-1.65%
Average Drawdown Average peak-to-trough decline	-17.36%	-3.48%	-13.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	3.48%	+0.53%

Volatility

LDEM vs. EVLU - Volatility Comparison

The current volatility for iShares ESG MSCI EM Leaders ETF (LDEM) is 6.08%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 9.17%. This indicates that LDEM experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDEM	EVLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.08%	9.17%	-3.09%
Volatility (6M) Calculated over the trailing 6-month period	13.90%	16.23%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	17.68%	19.04%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.09%	19.93%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	19.93%	+0.80%

LDEM vs. EVLU - Expense Ratio Comparison

LDEM has a 0.16% expense ratio, which is lower than EVLU's 0.35% expense ratio.

Dividends

LDEM vs. EVLU - Dividend Comparison

LDEM's dividend yield for the trailing twelve months is around 3.04%, less than EVLU's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
EVLU iShares MSCI Emerging Markets Value Factor ETF	3.88%	5.20%	1.03%	0.00%	0.00%	0.00%	0.00%
LDEM iShares ESG MSCI EM Leaders ETF	3.04%	3.26%	2.64%	3.20%	4.93%	1.82%	1.89%

Frequently Asked Questions

Can I hold both LDEM and EVLU in my portfolio?

LDEM and EVLU have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDEM or EVLU?

EVLU has higher volatility (9.17%) compared to LDEM (6.08%). In terms of maximum drawdown, LDEM dropped -40.82% vs EVLU's -17.17%.

Which ETF is better, LDEM or EVLU?

On 1-year performance, EVLU leads with 72.04% vs 25.33% for LDEM. On fees, LDEM is cheaper at 0.16% per year. On volatility, LDEM has been the lower-risk option at 6.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LDEM or EVLU?

Over the 1-year period, EVLU has performed better with a 72.04% return vs 25.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LDEM or EVLU?

LDEM is cheaper with a 0.16% expense ratio, compared with 0.35% for EVLU.

Which ETF pays a higher dividend yield, LDEM or EVLU?

EVLU has the higher dividend yield at 3.88%, compared with 3.04% for LDEM.

What is the main difference between LDEM and EVLU?

LDEM tracks MSCI EM Extended ESG Leaders 5% Issuer Capped Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). Their fees differ too: 0.16% for LDEM and 0.35% for EVLU.

Which has better risk-adjusted returns?

EVLU currently has the higher Sharpe Ratio (3.80 vs 1.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.