LMT vs. IEMG

Last updated Jun 9, 2026

LMT (Lockheed Martin Corporation) is a stock, while IEMG (iShares Core MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Over the past 10 years, LMT returned 10.91%/yr vs 9.88%/yr for IEMG. At a 0.24 correlation, their price movements are largely independent.

Performance

LMT vs. IEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lockheed Martin Corporation (LMT) and iShares Core MSCI Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMT achieves a 8.80% return, which is significantly lower than IEMG's 18.97% return. Over the past 10 years, LMT has outperformed IEMG with an annualized return of 10.91%, while IEMG has yielded a comparatively lower 9.88% annualized return.

LMT

• 1D: -0.70%
• 1M: 3.35%
• YTD: 8.80%
• 6M: 13.08%
• 1Y: 10.88%
• 3Y*: 6.80%
• 5Y*: 9.00%
• 10Y*: 10.91%

IEMG

• 1D: 1.70%
• 1M: -3.66%
• YTD: 18.97%
• 6M: 20.80%
• 1Y: 40.80%
• 3Y*: 20.51%
• 5Y*: 6.57%
• 10Y*: 9.88%

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

LMT vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMT Lockheed Martin Corporation	8.80%	2.47%	10.02%	-4.31%	40.48%	3.15%	-6.49%	52.55%	-16.35%	31.77%
IEMG iShares Core MSCI Emerging Markets ETF	18.97%	32.56%	6.50%	11.52%	-19.98%	-0.64%	17.87%	17.81%	-14.92%	37.38%

Correlation

The correlation between LMT and IEMG is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.01
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.05
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012	0.24

Over the past year, the correlation between LMT and IEMG has dropped to 0.01 - well below their long-term average of 0.24, suggesting their price drivers have been diverging.

Return for Risk

LMT vs. IEMG — Risk / Return Rank

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

LMT

LMT Risk / Return Rank: 52
LMT Sharpe Ratio Rank: 57
LMT Sortino Ratio Rank: 49
LMT Omega Ratio Rank: 49
LMT Calmar Ratio Rank: 53
LMT Martin Ratio Rank: 54

IEMG

IEMG Risk / Return Rank: 67
IEMG Sharpe Ratio Rank: 67
IEMG Sortino Ratio Rank: 61
IEMG Omega Ratio Rank: 71
IEMG Calmar Ratio Rank: 68
IEMG Martin Ratio Rank: 69

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.

LMT vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lockheed Martin Corporation (LMT) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.

	LMT	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	0.41	1.99	-1.58
Sortino ratio: Return per unit of downside risk	0.71	2.58	-1.87
Omega ratio: Gain probability vs. loss probability	1.10	1.38	-0.28
Calmar ratio: Return relative to maximum drawdown	0.43	3.10	-2.67
Martin ratio: Return relative to average drawdown	1.04	11.68	-10.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LMT vs. IEMG - Sharpe Ratio Comparison

The current LMT Sharpe Ratio is 0.41, which is lower than the IEMG Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of LMT and IEMG, 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

	LMT	IEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.41	1.99	-1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.35	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.49	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.33	+0.05

Drawdowns

LMT vs. IEMG - Drawdown Comparison

The maximum LMT drawdown since its inception was -79.29%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for LMT and IEMG.

Drawdown Indicators

	LMT	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-79.29%	-38.71%	-40.58%
Max Drawdown (1Y) Largest decline over 1 year	-25.15%	-13.21%	-11.94%
Max Drawdown (3Y) Largest decline over 3 years	-31.79%	-17.21%	-14.58%
Max Drawdown (5Y) Largest decline over 5 years	-31.79%	-35.75%	+3.96%
Max Drawdown (10Y) Largest decline over 10 years	-36.67%	-38.71%	+2.04%
Current Drawdown Current decline from peak	-22.64%	-7.00%	-15.64%
Average Drawdown Average peak-to-trough decline	-26.84%	-12.97%	-13.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.51%	3.50%	+7.01%

Volatility

LMT vs. IEMG - Volatility Comparison

The current volatility for Lockheed Martin Corporation (LMT) is 5.31%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.33%. This indicates that LMT experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMT	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	10.33%	-5.02%
Volatility (6M) Calculated over the trailing 6-month period	19.60%	18.35%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	26.62%	20.62%	+6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.88%	18.62%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.72%	20.14%	+3.58%

Dividends

LMT vs. IEMG - Dividend Comparison

LMT's dividend yield for the trailing twelve months is around 2.62%, more than IEMG's 2.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.31%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
LMT Lockheed Martin Corporation	2.62%	2.76%	2.62%	2.68%	2.34%	2.98%	2.76%	2.31%	3.13%	2.32%	2.71%	2.83%

Frequently Asked Questions

Can I hold both LMT and IEMG in my portfolio?

LMT and IEMG have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LMT or IEMG?

IEMG has higher volatility (10.33%) compared to LMT (5.31%). In terms of maximum drawdown, LMT dropped -79.29% vs IEMG's -38.71%.

Which has better risk-adjusted returns?

IEMG currently has the higher Sharpe Ratio (1.99 vs 0.41), 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.