SEEM vs. IEMG

Last updated Jun 5, 2026

SEEM (SEI Select Emerging Markets Equity ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. SEEM is actively managed, while IEMG is passively managed. Over the past year, SEEM returned 57.95% vs 49.24% for IEMG. With a 0.96 correlation, they move nearly in lockstep. SEEM charges 0.60%/yr vs 0.09%/yr for IEMG.

Performance

SEEM vs. IEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Select Emerging Markets Equity ETF (SEEM) and iShares Core MSCI Emerging Markets ETF (IEMG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEEM achieves a 29.50% return, which is significantly higher than IEMG's 24.98% return.

SEEM

• 1D: -1.14%
• 1M: 6.25%
• YTD: 29.50%
• 6M: 33.05%
• 1Y: 57.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IEMG

• 1D: -0.98%
• 1M: 4.82%
• YTD: 24.98%
• 6M: 27.43%
• 1Y: 49.24%
• 3Y*: 23.19%
• 5Y*: 7.36%
• 10Y*: 10.22%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SEEM vs. IEMG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SEEM SEI Select Emerging Markets Equity ETF	29.50%	38.16%	-6.86%
IEMG iShares Core MSCI Emerging Markets ETF	24.98%	32.56%	-7.09%

Correlation

The correlation between SEEM and IEMG is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Oct 11, 2024	0.96

The correlation between SEEM and IEMG has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

SEEM vs. IEMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SEEM

SEEM Risk / Return Rank: 85
SEEM Sharpe Ratio Rank: 89
SEEM Sortino Ratio Rank: 85
SEEM Omega Ratio Rank: 87
SEEM Calmar Ratio Rank: 81
SEEM Martin Ratio Rank: 83

IEMG

IEMG Risk / Return Rank: 77
IEMG Sharpe Ratio Rank: 80
IEMG Sortino Ratio Rank: 75
IEMG Omega Ratio Rank: 79
IEMG Calmar Ratio Rank: 76
IEMG Martin Ratio Rank: 76

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.

SEEM vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Select Emerging Markets Equity ETF (SEEM) and iShares Core MSCI Emerging Markets ETF (IEMG). 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.

	SEEM	IEMG	Difference
Sharpe ratio: Return per unit of total volatility	2.95	2.55	+0.41
Sortino ratio: Return per unit of downside risk	3.76	3.34	+0.42
Omega ratio: Gain probability vs. loss probability	1.53	1.47	+0.06
Calmar ratio: Return relative to maximum drawdown	4.16	3.74	+0.41
Martin ratio: Return relative to average drawdown	16.48	14.39	+2.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SEEM vs. IEMG - Sharpe Ratio Comparison

The current SEEM Sharpe Ratio is 2.95, which is comparable to the IEMG Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of SEEM and IEMG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SEEM	IEMG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	2.55	+0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.40	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.85	0.35	+1.51

Drawdowns

SEEM vs. IEMG - Drawdown Comparison

The maximum SEEM drawdown since its inception was -14.34%, smaller than the maximum IEMG drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for SEEM and IEMG.

Drawdown Indicators

	SEEM	IEMG	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-38.71%	+24.37%
Max Drawdown (1Y) Largest decline over 1 year	-14.01%	-13.21%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-17.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.83%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.71%	—
Current Drawdown Current decline from peak	-2.24%	-2.30%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.64%	-12.97%	+10.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	3.43%	+0.10%

Volatility

SEEM vs. IEMG - Volatility Comparison

SEI Select Emerging Markets Equity ETF (SEEM) and iShares Core MSCI Emerging Markets ETF (IEMG) have volatilities of 8.19% and 8.24%, 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.

Volatility by Period

	SEEM	IEMG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.19%	8.24%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	17.07%	16.97%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	19.74%	19.47%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.80%	18.38%	+1.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.80%	20.03%	-0.23%

SEEM vs. IEMG - Expense Ratio Comparison

SEEM has a 0.60% expense ratio, which is higher than IEMG's 0.09% expense ratio.

Dividends

SEEM vs. IEMG - Dividend Comparison

SEEM's dividend yield for the trailing twelve months is around 2.45%, more than IEMG's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.20%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
SEEM SEI Select Emerging Markets Equity ETF	2.45%	3.31%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEEM and IEMG in my portfolio?

With a correlation of 0.96, SEEM and IEMG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SEEM or IEMG?

IEMG has higher volatility (8.24%) compared to SEEM (8.19%). In terms of maximum drawdown, SEEM dropped -14.34% vs IEMG's -38.71%.

Which ETF is better, SEEM or IEMG?

On 1-year performance, SEEM leads with 57.95% vs 49.24% for IEMG. On fees, IEMG is cheaper at 0.09% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SEEM or IEMG?

Over the 1-year period, SEEM has performed better with a 57.95% return vs 49.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SEEM or IEMG?

IEMG is cheaper with a 0.09% expense ratio, compared with 0.60% for SEEM.

Which ETF pays a higher dividend yield, SEEM or IEMG?

SEEM has the higher dividend yield at 2.45%, compared with 2.20% for IEMG.

What is the main difference between SEEM and IEMG?

They also come from different issuers: SEI and iShares. Their fees differ too: 0.60% for SEEM and 0.09% for IEMG.

Which has better risk-adjusted returns?

SEEM currently has the higher Sharpe Ratio (2.95 vs 2.55), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.