MKUW.L vs. EMVL.L
MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) and EMVL.L (iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc)) are both Emerging Markets Equities funds - MKUW.L tracks the MSCI Kuwait 20/35 Index while EMVL.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, MKUW.L returned 7.19%/yr vs 14.50%/yr for EMVL.L. At a 0.19 correlation, their price movements are largely independent. MKUW.L charges 0.50%/yr vs 0.40%/yr for EMVL.L.
Performance
MKUW.L vs. EMVL.L - Performance Comparison
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Returns By Period
In the year-to-date period, MKUW.L achieves a 0.15% return, which is significantly lower than EMVL.L's 27.71% 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*
- —
EMVL.L
- 1D
- -1.78%
- 1M
- -12.08%
- 6M
- 19.62%
- YTD
- 27.71%
- 1Y
- 52.30%
- 3Y*
- 30.85%
- 5Y*
- 14.50%
- 10Y*
- —
MKUW.L vs. EMVL.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.15% | 25.35% | 9.15% | -8.87% | 5.99% | 28.57% | -9.88% | 10.35% |
EMVL.L iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) | 27.71% | 43.13% | 14.49% | 18.37% | -16.29% | 5.29% | 7.72% | 8.59% |
Correlation
The correlation between MKUW.L and EMVL.L is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.19 |
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Return for Risk
MKUW.L vs. EMVL.L — Risk / Return Rank
MKUW.L
EMVL.L
MKUW.L vs. EMVL.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 iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.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 | EMVL.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.38 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.48 | -3.03 |
| Martin ratioReturn relative to average drawdown | 1.05 | 11.16 | -10.11 |
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Drawdowns
MKUW.L vs. EMVL.L - Drawdown Comparison
The maximum MKUW.L drawdown since its inception was -37.76%, which is greater than EMVL.L's maximum drawdown of -34.95%. Use the drawdown chart below to compare losses from any high point for MKUW.L and EMVL.L.
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Drawdown Indicators
| MKUW.L | EMVL.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.76% | -34.95% | -2.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -14.94% | +7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -16.42% | +2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -25.13% | -31.61% | +6.48% |
Current DrawdownCurrent decline from peak | -3.60% | -14.94% | +11.34% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -9.52% | +0.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 4.67% | -1.41% |
Volatility
MKUW.L vs. EMVL.L - Volatility Comparison
The current volatility for Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) is 1.71%, while iShares Edge MSCI EM Value Factor UCITS ETF USD(Acc) (EMVL.L) has a volatility of 10.20%. This indicates that MKUW.L experiences smaller price fluctuations and is considered to be less risky than EMVL.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 | EMVL.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 10.20% | -8.49% |
Volatility (6M)Calculated over the trailing 6-month period | 8.01% | 21.35% | -13.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 23.92% | -13.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 20.72% | -7.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.49% | 21.39% | -4.90% |
MKUW.L vs. EMVL.L - Expense Ratio Comparison
MKUW.L has a 0.50% expense ratio, which is higher than EMVL.L's 0.40% expense ratio.
Dividends
MKUW.L vs. EMVL.L - Dividend Comparison
Neither MKUW.L nor EMVL.L has paid dividends to shareholders.
Frequently Asked Questions
MKUW.L and EMVL.L have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMVL.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMVL.L is cheaper with a 0.40% expense ratio, compared with 0.50% for MKUW.L.
MKUW.L tracks MSCI Kuwait 20/35 Index, while EMVL.L tracks MSCI EM NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for MKUW.L and 0.40% for EMVL.L.
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