SAEM.L vs. VPAC.L
SAEM.L (iShares MSCI EM IMI Screened UCITS ETF USD (Acc)) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - SAEM.L tracks the iShares MSCI EM IMI Screened UCITS ETF USD (Acc) while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, SAEM.L returned 6.59%/yr vs 3.51%/yr for VPAC.L. At a 0.45 correlation, their price movements are largely independent. SAEM.L charges 0.18%/yr vs 0.50%/yr for VPAC.L.
Performance
SAEM.L vs. VPAC.L - Performance Comparison
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Returns By Period
In the year-to-date period, SAEM.L achieves a 17.34% return, which is significantly higher than VPAC.L's 2.04% return.
SAEM.L
- 1D
- -1.24%
- 1M
- -7.79%
- 6M
- 11.92%
- YTD
- 17.34%
- 1Y
- 33.01%
- 3Y*
- 19.20%
- 5Y*
- 6.59%
- 10Y*
- —
VPAC.L
- 1D
- -0.12%
- 1M
- 0.03%
- 6M
- 1.83%
- YTD
- 2.04%
- 1Y
- 5.32%
- 3Y*
- 8.42%
- 5Y*
- 3.51%
- 10Y*
- —
SAEM.L vs. VPAC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SAEM.L iShares MSCI EM IMI Screened UCITS ETF USD (Acc) | 17.34% | 33.03% | 7.25% | 10.56% | -20.46% | -1.52% | 19.84% | 16.95% | -0.22% |
VPAC.L Invesco Variable Rate Preferred Shares UCITS ETF USD | 2.04% | 6.34% | 10.84% | 9.27% | -9.70% | 3.64% | 4.81% | 17.14% | -1.27% |
Correlation
The correlation between SAEM.L and VPAC.L is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2018 | 0.45 |
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Return for Risk
SAEM.L vs. VPAC.L — Risk / Return Rank
SAEM.L
VPAC.L
SAEM.L vs. VPAC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM IMI Screened UCITS ETF USD (Acc) (SAEM.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.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.
| SAEM.L | VPAC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 2.54 | -0.11 |
| Martin ratioReturn relative to average drawdown | 7.82 | 9.98 | -2.17 |
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Drawdowns
SAEM.L vs. VPAC.L - Drawdown Comparison
The maximum SAEM.L drawdown since its inception was -38.77%, which is greater than VPAC.L's maximum drawdown of -34.25%. Use the drawdown chart below to compare losses from any high point for SAEM.L and VPAC.L.
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Drawdown Indicators
| SAEM.L | VPAC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -34.25% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -2.02% | -11.39% |
Max Drawdown (3Y)Largest decline over 3 years | -17.36% | -3.40% | -13.96% |
Max Drawdown (5Y)Largest decline over 5 years | -34.85% | -13.89% | -20.96% |
Current DrawdownCurrent decline from peak | -9.43% | -0.33% | -9.10% |
Average DrawdownAverage peak-to-trough decline | -12.86% | -3.14% | -9.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.19% | 0.52% | +3.67% |
Volatility
SAEM.L vs. VPAC.L - Volatility Comparison
iShares MSCI EM IMI Screened UCITS ETF USD (Acc) (SAEM.L) has a higher volatility of 9.20% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that SAEM.L's price experiences larger fluctuations and is considered to be riskier than VPAC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAEM.L | VPAC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.20% | 0.74% | +8.46% |
Volatility (6M)Calculated over the trailing 6-month period | 19.67% | 2.28% | +17.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.74% | 3.17% | +18.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 5.30% | +14.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.52% | 11.00% | +9.52% |
SAEM.L vs. VPAC.L - Expense Ratio Comparison
SAEM.L has a 0.18% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.
Dividends
SAEM.L vs. VPAC.L - Dividend Comparison
Neither SAEM.L nor VPAC.L has paid dividends to shareholders.
Frequently Asked Questions
SAEM.L and VPAC.L have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SAEM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SAEM.L is cheaper with a 0.18% expense ratio, compared with 0.50% for VPAC.L.
SAEM.L tracks iShares MSCI EM IMI Screened UCITS ETF USD (Acc), while VPAC.L tracks Invesco Variable Rate Preferred Shares UCITS ETF USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.18% for SAEM.L and 0.50% for VPAC.L.
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