PSRM.L vs. EMIM.L
PSRM.L (Invesco FTSE RAFI Emerging Markets UCITS ETF) and EMIM.L (iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)) are both Emerging Markets Equities funds tracking the MSCI EM NR USD, from Invesco and iShares respectively. Both are passively managed. Over the past 10 years, PSRM.L returned 12.48%/yr vs 11.09%/yr for EMIM.L. Their correlation of 0.90 suggests significant overlap in exposure. PSRM.L charges 0.49%/yr vs 0.18%/yr for EMIM.L.
Performance
PSRM.L vs. EMIM.L - Performance Comparison
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Returns By Period
In the year-to-date period, PSRM.L achieves a 22.18% return, which is significantly lower than EMIM.L's 24.23% return. Over the past 10 years, PSRM.L has outperformed EMIM.L with an annualized return of 12.48%, while EMIM.L has yielded a comparatively lower 11.09% annualized return.
PSRM.L
- 1D
- -2.05%
- 1M
- 8.16%
- YTD
- 22.18%
- 6M
- 22.60%
- 1Y
- 45.37%
- 3Y*
- 21.82%
- 5Y*
- 11.88%
- 10Y*
- 12.48%
EMIM.L
- 1D
- -1.35%
- 1M
- 5.54%
- YTD
- 24.23%
- 6M
- 26.48%
- 1Y
- 50.85%
- 3Y*
- 20.15%
- 5Y*
- 8.76%
- 10Y*
- 11.09%
PSRM.L vs. EMIM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSRM.L Invesco FTSE RAFI Emerging Markets UCITS ETF | 22.18% | 22.43% | 15.16% | 6.50% | -4.31% | 10.13% | -3.49% | 12.27% | -2.72% | 13.06% |
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) | 24.23% | 23.35% | 9.18% | 4.93% | -10.17% | 0.74% | 14.91% | 12.69% | -9.32% | 24.72% |
Correlation
The correlation between PSRM.L and EMIM.L is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2014 | 0.90 |
The correlation between PSRM.L and EMIM.L has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
PSRM.L vs. EMIM.L — Risk / Return Rank
PSRM.L
EMIM.L
PSRM.L vs. EMIM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE RAFI Emerging Markets UCITS ETF (PSRM.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.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.
| PSRM.L | EMIM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.57 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | 4.63 | -0.16 |
| Martin ratioReturn relative to average drawdown | 16.64 | 16.57 | +0.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PSRM.L | EMIM.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.96 | 3.04 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.74 | 0.55 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.62 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.47 | 0.49 | -0.02 |
Drawdowns
PSRM.L vs. EMIM.L - Drawdown Comparison
The maximum PSRM.L drawdown since its inception was -44.18%, which is greater than EMIM.L's maximum drawdown of -31.70%. Use the drawdown chart below to compare losses from any high point for PSRM.L and EMIM.L.
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Drawdown Indicators
| PSRM.L | EMIM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.18% | -31.70% | -12.48% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -10.92% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -14.44% | -15.56% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -17.54% | -21.98% | +4.44% |
Max Drawdown (10Y)Largest decline over 10 years | -29.37% | -26.46% | -2.91% |
Current DrawdownCurrent decline from peak | -3.11% | -2.39% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -10.34% | -8.71% | -1.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 3.06% | -0.34% |
Volatility
PSRM.L vs. EMIM.L - Volatility Comparison
Invesco FTSE RAFI Emerging Markets UCITS ETF (PSRM.L) and iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) (EMIM.L) have volatilities of 7.33% and 7.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSRM.L | EMIM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.33% | 7.03% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.64% | 14.14% | -1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.27% | 16.67% | -1.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.94% | 15.82% | +0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.25% | 17.81% | +0.44% |
PSRM.L vs. EMIM.L - Expense Ratio Comparison
PSRM.L has a 0.49% expense ratio, which is higher than EMIM.L's 0.18% expense ratio.
Dividends
PSRM.L vs. EMIM.L - Dividend Comparison
PSRM.L's dividend yield for the trailing twelve months is around 2.53%, while EMIM.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMIM.L iShares Core MSCI Emerging Markets IMI UCITS ETF (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% |
PSRM.L Invesco FTSE RAFI Emerging Markets UCITS ETF | 2.53% | 3.01% | 3.44% | 4.21% | 5.74% | 3.36% | 2.70% | 2.76% | 2.92% | 2.43% | 1.88% | 3.15% |
Frequently Asked Questions
PSRM.L and EMIM.L have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMIM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMIM.L is cheaper with a 0.18% expense ratio, compared with 0.49% for PSRM.L.
Both ETFs track MSCI EM NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.49% for PSRM.L and 0.18% for EMIM.L.
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