MKUW.L vs. E127.L
MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) and E127.L (Amundi MSCI Emerging Markets II UCITS ETF Dist) are both Emerging Markets Equities funds - MKUW.L tracks the MSCI Kuwait 20/35 Index while E127.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, MKUW.L returned 7.19%/yr vs 6.55%/yr for E127.L. At a 0.19 correlation, their price movements are largely independent. MKUW.L charges 0.50%/yr vs 0.14%/yr for E127.L.
Performance
MKUW.L vs. E127.L - Performance Comparison
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Different Trading Currencies
MKUW.L is traded in USD, while E127.L is traded in GBP. To make them comparable, the E127.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, MKUW.L achieves a 0.15% return, which is significantly lower than E127.L's 16.04% return.
MKUW.L
- 1D
- -0.06%
- 1M
- -2.04%
- 6M
- 1.18%
- YTD
- 0.15%
- 1Y
- 3.43%
- 3Y*
- 7.89%
- 5Y*
- 7.19%
- 10Y*
- —
E127.L
- 1D
- -2.15%
- 1M
- -8.90%
- 6M
- 10.42%
- YTD
- 16.04%
- 1Y
- 31.70%
- 3Y*
- 19.32%
- 5Y*
- 6.55%
- 10Y*
- —
MKUW.L vs. E127.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | 15.27% |
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 16.04% | 34.89% | 7.57% | 8.20% | -19.65% | -2.76% | 40.59% |
Correlation
The correlation between MKUW.L and E127.L is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since May 20, 2020 | 0.19 |
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Return for Risk
MKUW.L vs. E127.L — Risk / Return Rank
MKUW.L
E127.L
MKUW.L vs. E127.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) and Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.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.
| MKUW.L | E127.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.27 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 2.46 | -2.00 |
| Martin ratioReturn relative to average drawdown | 1.05 | 7.77 | -6.72 |
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Drawdowns
MKUW.L vs. E127.L - Drawdown Comparison
The maximum MKUW.L drawdown since its inception was -37.76%, smaller than the maximum E127.L drawdown of -39.93%. Use the drawdown chart below to compare losses from any high point for MKUW.L and E127.L.
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Drawdown Indicators
| MKUW.L | E127.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.76% | -39.93% | +2.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -12.84% | +5.37% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -16.66% | +2.50% |
Max Drawdown (5Y)Largest decline over 5 years | -25.13% | -34.73% | +9.60% |
Current DrawdownCurrent decline from peak | -3.60% | -11.11% | +7.51% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -15.54% | +6.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 4.07% | -0.81% |
Volatility
MKUW.L vs. E127.L - Volatility Comparison
The current volatility for Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) is 1.71%, while Amundi MSCI Emerging Markets II UCITS ETF Dist (E127.L) has a volatility of 9.10%. This indicates that MKUW.L experiences smaller price fluctuations and is considered to be less risky than E127.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MKUW.L | E127.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 9.10% | -7.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.01% | 19.31% | -11.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 21.43% | -11.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 19.20% | -6.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.49% | 19.02% | -2.53% |
MKUW.L vs. E127.L - Expense Ratio Comparison
MKUW.L has a 0.50% expense ratio, which is higher than E127.L's 0.14% expense ratio.
Dividends
MKUW.L vs. E127.L - Dividend Comparison
MKUW.L has not paid dividends to shareholders, while E127.L's dividend yield for the trailing twelve months is around 1.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
E127.L Amundi MSCI Emerging Markets II UCITS ETF Dist | 1.86% | 2.16% | 3.35% | 3.76% | 2.34% | 1.64% | 1.70% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKUW.L and E127.L have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, E127.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
E127.L is cheaper with a 0.14% expense ratio, compared with 0.50% for MKUW.L.
MKUW.L tracks MSCI Kuwait 20/35 Index, while E127.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.50% for MKUW.L and 0.14% for E127.L.
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