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SEDM.L vs. VPAC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SEDM.L vs. VPAC.L

Last updated Jul 16, 2026
Documentation

SEDM.L (iShares MSCI EM IMI Screened UCITS ETF USD (Dist)) and VPAC.L (Invesco Variable Rate Preferred Shares UCITS ETF USD) are both Global Equities funds - SEDM.L tracks the iShares MSCI EM IMI Screened UCITS ETF USD (Dist) while VPAC.L tracks the Invesco Variable Rate Preferred Shares UCITS ETF USD. Both are passively managed. Over the past 5 years, SEDM.L returned 6.74%/yr vs 3.51%/yr for VPAC.L. At a 0.46 correlation, their price movements are largely independent. SEDM.L charges 0.18%/yr vs 0.50%/yr for VPAC.L.

Performance

SEDM.L vs. VPAC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI EM IMI Screened UCITS ETF USD (Dist) (SEDM.L) and Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.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, SEDM.L achieves a 18.00% return, which is significantly higher than VPAC.L's 2.04% return.

SEDM.L

1D
-0.77%
1M
-7.30%
6M
12.55%
YTD
18.00%
1Y
33.61%
3Y*
19.38%
5Y*
6.74%
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*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SEDM.L vs. VPAC.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SEDM.L
iShares MSCI EM IMI Screened UCITS ETF USD (Dist)		18.00%32.84%7.40%10.53%-20.48%-1.52%19.90%16.95%-0.20%
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 SEDM.L and VPAC.L is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

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

0.46

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iShares MSCI EM IMI Screened UCITS ETF USD (Dist)

Invesco Variable Rate Preferred Shares UCITS ETF USD

Return for Risk

SEDM.L vs. VPAC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SEDM.L
SEDM.L Risk / Return Rank: 5757
Overall Rank
SEDM.L Sharpe Ratio Rank: 5656
Sharpe Ratio Rank
SEDM.L Sortino Ratio Rank: 5353
Sortino Ratio Rank
SEDM.L Omega Ratio Rank: 5757
Omega Ratio Rank
SEDM.L Calmar Ratio Rank: 6262
Calmar Ratio Rank
SEDM.L Martin Ratio Rank: 5858
Martin Ratio Rank
VPAC.L
VPAC.L Risk / Return Rank: 6565
Overall Rank
VPAC.L Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
VPAC.L Sortino Ratio Rank: 6464
Sortino Ratio Rank
VPAC.L Omega Ratio Rank: 6767
Omega Ratio Rank
VPAC.L Calmar Ratio Rank: 6363
Calmar Ratio Rank
VPAC.L Martin Ratio Rank: 6969
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.

SEDM.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 (Dist) (SEDM.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.

SEDM.LVPAC.LDifference
Sharpe ratioReturn per unit of total volatility
1.54
1.63

-0.09

Sortino ratioReturn per unit of downside risk
2.12
2.40

-0.28

Omega ratioGain probability vs. loss probability

1.29

1.32

-0.03

Calmar ratioReturn relative to maximum drawdown

2.52

2.54

-0.03

Martin ratioReturn relative to average drawdown

8.04

9.98

-1.94

SEDM.L vs. VPAC.L - Sharpe Ratio Comparison

The current SEDM.L Sharpe Ratio is 1.54, which is comparable to the VPAC.L Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of SEDM.L and VPAC.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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Drawdowns

SEDM.L vs. VPAC.L - Drawdown Comparison

The maximum SEDM.L drawdown since its inception was -38.83%, 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 SEDM.L and VPAC.L.

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Drawdown Indicators

SEDM.LVPAC.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.83%

-34.25%

-4.58%

Max Drawdown (1Y)

Largest decline over 1 year

-13.30%

-2.02%

-11.28%

Max Drawdown (3Y)

Largest decline over 3 years

-17.22%

-3.40%

-13.82%

Max Drawdown (5Y)

Largest decline over 5 years

-34.83%

-13.89%

-20.94%

Current Drawdown

Current decline from peak

-8.97%

-0.33%

-8.64%

Average Drawdown

Average peak-to-trough decline

-12.85%

-3.14%

-9.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.17%

0.52%

+3.65%

Volatility

SEDM.L vs. VPAC.L - Volatility Comparison

iShares MSCI EM IMI Screened UCITS ETF USD (Dist) (SEDM.L) has a higher volatility of 8.85% compared to Invesco Variable Rate Preferred Shares UCITS ETF USD (VPAC.L) at 0.74%. This indicates that SEDM.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

SEDM.LVPAC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.85%

0.74%

+8.11%

Volatility (6M)

Calculated over the trailing 6-month period

19.60%

2.28%

+17.32%

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

18.98%

5.30%

+13.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.19%

11.00%

+9.19%

SEDM.L vs. VPAC.L - Expense Ratio Comparison

SEDM.L has a 0.18% expense ratio, which is lower than VPAC.L's 0.50% expense ratio.

Dividends

SEDM.L vs. VPAC.L - Dividend Comparison

SEDM.L's dividend yield for the trailing twelve months is around 1.71%, while VPAC.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
SEDM.L
iShares MSCI EM IMI Screened UCITS ETF USD (Dist)		1.71%1.96%2.37%2.33%2.56%1.83%1.51%2.23%
VPAC.L
Invesco Variable Rate Preferred Shares UCITS ETF USD		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SEDM.L and VPAC.L have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SEDM.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SEDM.L is cheaper with a 0.18% expense ratio, compared with 0.50% for VPAC.L.

SEDM.L tracks iShares MSCI EM IMI Screened UCITS ETF USD (Dist), 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 SEDM.L and 0.50% for VPAC.L.

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