MKUW.L vs. ISDE.L
MKUW.L (Invesco MSCI Kuwait UCITS ETF USD (Acc)) and ISDE.L (iShares MSCI EM Islamic UCITS ETF USD (Dist)) are both Emerging Markets Equities funds - MKUW.L tracks the MSCI Kuwait 20/35 Index while ISDE.L tracks the MSCI Emerging Markets Islamic Index. Both are passively managed. Over the past 5 years, MKUW.L returned 7.19%/yr vs 9.96%/yr for ISDE.L. At a 0.20 correlation, their price movements are largely independent. MKUW.L charges 0.50%/yr vs 0.85%/yr for ISDE.L.
Performance
MKUW.L vs. ISDE.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 ISDE.L's 38.21% 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*
- —
ISDE.L
- 1D
- -2.17%
- 1M
- -15.35%
- 6M
- 28.14%
- YTD
- 38.21%
- 1Y
- 66.38%
- 3Y*
- 23.97%
- 5Y*
- 9.96%
- 10Y*
- 10.80%
MKUW.L vs. ISDE.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% |
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 38.21% | 39.00% | -3.54% | 14.04% | -22.75% | 2.66% | 22.18% | 8.99% |
Correlation
The correlation between MKUW.L and ISDE.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 | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2019 | 0.20 |
The correlation between MKUW.L and ISDE.L shifts across timeframes, from 0.12 (1 year) to 0.23 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MKUW.L vs. ISDE.L — Risk / Return Rank
MKUW.L
ISDE.L
MKUW.L vs. ISDE.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 MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.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 | ISDE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.15 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.39 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.56 | -3.10 |
| Martin ratioReturn relative to average drawdown | 1.05 | 12.95 | -11.90 |
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Drawdowns
MKUW.L vs. ISDE.L - Drawdown Comparison
The maximum MKUW.L drawdown since its inception was -37.76%, smaller than the maximum ISDE.L drawdown of -65.53%. Use the drawdown chart below to compare losses from any high point for MKUW.L and ISDE.L.
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Drawdown Indicators
| MKUW.L | ISDE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.76% | -65.53% | +27.77% |
Max Drawdown (1Y)Largest decline over 1 year | -7.47% | -18.56% | +11.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.16% | -21.83% | +7.67% |
Max Drawdown (5Y)Largest decline over 5 years | -25.13% | -32.16% | +7.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -36.64% | — |
Current DrawdownCurrent decline from peak | -3.60% | -18.56% | +14.96% |
Average DrawdownAverage peak-to-trough decline | -9.42% | -22.77% | +13.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 5.11% | -1.85% |
Volatility
MKUW.L vs. ISDE.L - Volatility Comparison
The current volatility for Invesco MSCI Kuwait UCITS ETF USD (Acc) (MKUW.L) is 1.71%, while iShares MSCI EM Islamic UCITS ETF USD (Dist) (ISDE.L) has a volatility of 14.06%. This indicates that MKUW.L experiences smaller price fluctuations and is considered to be less risky than ISDE.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 | ISDE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.71% | 14.06% | -12.35% |
Volatility (6M)Calculated over the trailing 6-month period | 8.01% | 27.81% | -19.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 29.85% | -19.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.76% | 20.61% | -7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.49% | 20.36% | -3.87% |
MKUW.L vs. ISDE.L - Expense Ratio Comparison
MKUW.L has a 0.50% expense ratio, which is lower than ISDE.L's 0.85% expense ratio.
Dividends
MKUW.L vs. ISDE.L - Dividend Comparison
MKUW.L has not paid dividends to shareholders, while ISDE.L's dividend yield for the trailing twelve months is around 1.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ISDE.L iShares MSCI EM Islamic UCITS ETF USD (Dist) | 1.25% | 1.06% | 2.51% | 2.77% | 2.10% | 1.79% | 0.98% | 1.55% | 1.64% | 1.02% | 1.07% | 2.32% |
MKUW.L Invesco MSCI Kuwait UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MKUW.L and ISDE.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, MKUW.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MKUW.L is cheaper with a 0.50% expense ratio, compared with 0.85% for ISDE.L.
MKUW.L tracks MSCI Kuwait 20/35 Index, while ISDE.L tracks MSCI Emerging Markets Islamic Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.50% for MKUW.L and 0.85% for ISDE.L.
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