SPYM.DE vs. IEMG
SPYM.DE (SPDR MSCI Emerging Markets UCITS ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both exchange-traded funds - SPYM.DE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets, while IEMG is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Both are passively managed. Over the past 10 years, SPYM.DE returned 10.32%/yr vs 10.28%/yr for IEMG. A 0.79 correlation means they provide meaningful diversification when combined. SPYM.DE charges 0.18%/yr vs 0.09%/yr for IEMG.
Performance
SPYM.DE vs. IEMG - Performance Comparison
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Different Trading Currencies
SPYM.DE is traded in EUR, while IEMG is traded in USD. To make them comparable, the IEMG values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYM.DE achieves a 28.91% return, which is significantly higher than IEMG's 27.35% return. Both investments have delivered pretty close results over the past 10 years, with SPYM.DE having a 10.32% annualized return and IEMG not far behind at 10.28%.
SPYM.DE
- 1D
- 0.51%
- 1M
- 2.41%
- YTD
- 28.91%
- 6M
- 30.74%
- 1Y
- 48.17%
- 3Y*
- 22.17%
- 5Y*
- 8.34%
- 10Y*
- 10.32%
IEMG
- 1D
- 0.82%
- 1M
- 1.42%
- YTD
- 27.35%
- 6M
- 28.23%
- 1Y
- 45.12%
- 3Y*
- 20.72%
- 5Y*
- 8.17%
- 10Y*
- 10.28%
SPYM.DE vs. IEMG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 28.91% | 19.06% | 14.05% | 6.05% | -14.90% | 5.28% | 6.27% | 22.31% | -11.26% | 19.74% |
IEMG iShares Core MSCI Emerging Markets ETF | 27.35% | 16.83% | 13.53% | 8.18% | -15.02% | 6.79% | 8.15% | 20.48% | -10.93% | 20.50% |
Correlation
The correlation between SPYM.DE and IEMG is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2012 | 0.79 |
The correlation between SPYM.DE and IEMG has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
SPYM.DE vs. IEMG — Risk / Return Rank
SPYM.DE
IEMG
SPYM.DE vs. IEMG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) 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.
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.
| SPYM.DE | IEMG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.42 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.62 | 4.29 | +0.33 |
| Martin ratioReturn relative to average drawdown | 15.65 | 14.72 | +0.93 |
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Drawdowns
SPYM.DE vs. IEMG - Drawdown Comparison
The maximum SPYM.DE drawdown since its inception was -44.83%, which is greater than IEMG's maximum drawdown of -34.49%. Use the drawdown chart below to compare losses from any high point for SPYM.DE and IEMG.
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Drawdown Indicators
| SPYM.DE | IEMG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.83% | -34.49% | -10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | -10.58% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -18.95% | -17.88% | -1.07% |
Max Drawdown (5Y)Largest decline over 5 years | -23.86% | -22.55% | -1.31% |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | -32.63% | +0.94% |
Current DrawdownCurrent decline from peak | -4.14% | -3.95% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -17.62% | -9.15% | -8.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 3.07% | 0.00% |
Volatility
SPYM.DE vs. IEMG - Volatility Comparison
The current volatility for SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) is 8.92%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 10.99%. This indicates that SPYM.DE experiences smaller price fluctuations and is considered to be less risky than IEMG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYM.DE | IEMG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 10.99% | -2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 17.12% | 18.42% | -1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 20.56% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.17% | 17.26% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 19.39% | -0.88% |
SPYM.DE vs. IEMG - Expense Ratio Comparison
SPYM.DE has a 0.18% expense ratio, which is higher than IEMG's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPYM.DE vs. IEMG - Dividend Comparison
SPYM.DE has not paid dividends to shareholders, while IEMG's dividend yield for the trailing twelve months is around 2.19%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEMG iShares Core MSCI Emerging Markets ETF | 2.19% | 2.75% | 3.20% | 2.89% | 2.71% | 3.06% | 1.87% | 3.15% | 2.76% | 2.35% | 2.28% | 2.53% |
SPYM.DE SPDR MSCI Emerging Markets 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% |
Frequently Asked Questions
SPYM.DE and IEMG have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEMG is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEMG is cheaper with a 0.09% expense ratio, compared with 0.18% for SPYM.DE.
SPYM.DE is categorized as Emerging Markets Equities, while IEMG is Emerging Markets Diversified. SPYM.DE tracks MSCI Emerging Markets, while IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net). They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for SPYM.DE and 0.09% for IEMG.
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