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PSRM.L vs. EMV.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PSRM.L vs. EMV.L

Last updated Jun 5, 2026

PSRM.L (Invesco FTSE RAFI Emerging Markets UCITS ETF) and EMV.L (iShares Edge MSCI EM Minimum Volatility UCITS ETF) 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 7.24%/yr for EMV.L. Their correlation of 0.83 suggests significant overlap in exposure. PSRM.L charges 0.49%/yr vs 0.40%/yr for EMV.L.

Performance

PSRM.L vs. EMV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE RAFI Emerging Markets UCITS ETF (PSRM.L) and iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PSRM.L achieves a 22.18% return, which is significantly higher than EMV.L's 17.59% return. Over the past 10 years, PSRM.L has outperformed EMV.L with an annualized return of 12.48%, while EMV.L has yielded a comparatively lower 7.24% 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%

EMV.L

1D
-1.01%
1M
5.53%
YTD
17.59%
6M
17.45%
1Y
26.13%
3Y*
11.29%
5Y*
6.63%
10Y*
7.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PSRM.L vs. EMV.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
EMV.L
iShares Edge MSCI EM Minimum Volatility UCITS ETF		17.59%5.04%10.84%1.45%-4.20%5.93%4.08%3.48%-0.20%15.47%

Correlation

The correlation between PSRM.L and EMV.L is 0.81, 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

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.75

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (10Y)
Calculated over the trailing 10-year period

0.83

Correlation (All Time)
Calculated using the full available price history since Dec 14, 2012

0.83

The correlation between PSRM.L and EMV.L has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

PSRM.L vs. EMV.L - Sectors Allocation Comparison

Sectors
PSRM.L
EMV.L

Technology

28.1%
32.4%

Financial Services

20.4%
18.9%

Basic Materials

10.4%
2.9%

Consumer Cyclical

9.7%
6.7%

Energy

9.4%
3.6%

Industrials

8.0%
6.2%

Communication Services

5.3%
11.0%

Consumer Defensive

3.2%
6.9%

Utilities

2.8%
4.7%

Real Estate

1.8%
0.6%

Healthcare

1.1%
6.1%

Technology

PSRM.L
28.1%
EMV.L
32.4%

Financial Services

PSRM.L
20.4%
EMV.L
18.9%

Basic Materials

PSRM.L
10.4%
EMV.L
2.9%

Consumer Cyclical

PSRM.L
9.7%
EMV.L
6.7%

Energy

PSRM.L
9.4%
EMV.L
3.6%

Industrials

PSRM.L
8.0%
EMV.L
6.2%

Communication Services

PSRM.L
5.3%
EMV.L
11.0%

Consumer Defensive

PSRM.L
3.2%
EMV.L
6.9%

Utilities

PSRM.L
2.8%
EMV.L
4.7%

Real Estate

PSRM.L
1.8%
EMV.L
0.6%

Healthcare

PSRM.L
1.1%
EMV.L
6.1%

Compare stocks, funds, or ETFs

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Invesco FTSE RAFI Emerging Markets UCITS ETF

iShares Edge MSCI EM Minimum Volatility UCITS ETF

Often compared with PSRM.L:
PSRM.L vs. PSRE.LPSRM.L vs. 6PSK.DEPSRM.L vs. VFEM.LPSRM.L vs. EMIM.LPSRM.L vs. EMDV.LPSRM.L vs. DEM.LPSRM.L vs. E127.L
Often compared with EMV.L:
EMV.L vs. CEA1.LEMV.L vs. EMIM.LEMV.L vs. NDIA.LEMV.L vs. XDEQ.LEMV.L vs. FEMQ.LEMV.L vs. ZEM.TOEMV.L vs. MXFP.L

Return for Risk

PSRM.L vs. EMV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PSRM.L
PSRM.L Risk / Return Rank: 8686
Overall Rank
PSRM.L Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
PSRM.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
PSRM.L Omega Ratio Rank: 8787
Omega Ratio Rank
PSRM.L Calmar Ratio Rank: 8484
Calmar Ratio Rank
PSRM.L Martin Ratio Rank: 8383
Martin Ratio Rank
EMV.L
EMV.L Risk / Return Rank: 6969
Overall Rank
EMV.L Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
EMV.L Sortino Ratio Rank: 7171
Sortino Ratio Rank
EMV.L Omega Ratio Rank: 7474
Omega Ratio Rank
EMV.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
EMV.L Martin Ratio Rank: 6262
Martin Ratio Rank
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.

PSRM.L vs. EMV.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 Edge MSCI EM Minimum Volatility UCITS ETF (EMV.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.LEMV.LDifference
Sharpe ratioReturn per unit of total volatility
2.96
2.29

+0.67

Sortino ratioReturn per unit of downside risk
3.95
3.17

+0.78

Omega ratioGain probability vs. loss probability

1.53

1.43

+0.10

Calmar ratioReturn relative to maximum drawdown

4.47

3.28

+1.19

Martin ratioReturn relative to average drawdown

16.64

11.15

+5.49

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSRM.L vs. EMV.L - Sharpe Ratio Comparison

The current PSRM.L Sharpe Ratio is 2.96, which is comparable to the EMV.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of PSRM.L and EMV.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

PSRM.LEMV.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.96

2.29

+0.67

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.74

0.61

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.68

0.54

+0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.41

+0.07

Drawdowns

PSRM.L vs. EMV.L - Drawdown Comparison

The maximum PSRM.L drawdown since its inception was -44.18%, which is greater than EMV.L's maximum drawdown of -28.68%. Use the drawdown chart below to compare losses from any high point for PSRM.L and EMV.L.

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Drawdown Indicators

PSRM.LEMV.LDifference

Max Drawdown

Largest peak-to-trough decline

-44.18%

-28.68%

-15.50%

Max Drawdown (1Y)

Largest decline over 1 year

-10.10%

-7.93%

-2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-14.44%

-11.19%

-3.25%

Max Drawdown (5Y)

Largest decline over 5 years

-17.54%

-11.19%

-6.35%

Max Drawdown (10Y)

Largest decline over 10 years

-29.37%

-22.59%

-6.78%

Current Drawdown

Current decline from peak

-3.11%

-1.54%

-1.57%

Average Drawdown

Average peak-to-trough decline

-10.34%

-5.90%

-4.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.72%

2.34%

+0.38%

Volatility

PSRM.L vs. EMV.L - Volatility Comparison

Invesco FTSE RAFI Emerging Markets UCITS ETF (PSRM.L) has a higher volatility of 7.33% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EMV.L) at 4.60%. This indicates that PSRM.L's price experiences larger fluctuations and is considered to be riskier than EMV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

PSRM.LEMV.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.33%

4.60%

+2.73%

Volatility (6M)

Calculated over the trailing 6-month period

12.64%

9.74%

+2.90%

Volatility (1Y)

Calculated over the trailing 1-year period

15.27%

11.37%

+3.90%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.94%

10.94%

+5.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.25%

13.28%

+4.97%

PSRM.L vs. EMV.L - Expense Ratio Comparison

PSRM.L has a 0.49% expense ratio, which is higher than EMV.L's 0.40% expense ratio.

Dividends

PSRM.L vs. EMV.L - Dividend Comparison

PSRM.L's dividend yield for the trailing twelve months is around 2.53%, while EMV.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
EMV.L
iShares Edge MSCI EM Minimum Volatility UCITS ETF		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 EMV.L have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMV.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMV.L is cheaper with a 0.40% 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 0.40% for EMV.L.

Portfolio Optimizer

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