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SRSA.L vs. DEM.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SRSA.L vs. DEM.L

Last updated Jul 22, 2026
Documentation

SRSA.L (iShares MSCI South Africa UCITS ETF USD (Acc)) and DEM.L (WisdomTree Emerging Markets Equity Income UCITS ETF) are both Emerging Markets Equities funds - SRSA.L tracks the MSCI South Africa 20/35 Index while DEM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, SRSA.L returned 6.00%/yr vs 7.89%/yr for DEM.L. A 0.69 correlation means they provide meaningful diversification when combined. SRSA.L charges 0.65%/yr vs 0.46%/yr for DEM.L.

Performance

SRSA.L vs. DEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI South Africa UCITS ETF USD (Acc) (SRSA.L) and WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.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, SRSA.L achieves a -6.88% return, which is significantly lower than DEM.L's 16.34% return. Over the past 10 years, SRSA.L has underperformed DEM.L with an annualized return of 6.00%, while DEM.L has yielded a comparatively higher 7.89% annualized return.

SRSA.L

1D
0.87%
1M
-5.01%
6M
-12.54%
YTD
-6.88%
1Y
23.19%
3Y*
19.01%
5Y*
11.11%
10Y*
6.00%
ALL TIME*
3.32%

DEM.L

1D
1.28%
1M
-3.65%
6M
13.38%
YTD
16.34%
1Y
20.31%
3Y*
14.87%
5Y*
10.74%
10Y*
7.89%
ALL TIME*
3.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SRSA.L vs. DEM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SRSA.L
iShares MSCI South Africa UCITS ETF USD (Acc)		-6.88%65.31%9.25%-5.19%7.61%5.31%-5.99%5.20%-21.09%24.74%
DEM.L
WisdomTree Emerging Markets Equity Income UCITS ETF		16.34%12.71%6.85%14.78%-2.59%15.16%-9.47%11.19%-6.09%13.87%

Correlation

The correlation between SRSA.L and DEM.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.51

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

0.56

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

0.57

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

0.66

Correlation (All Time)
Calculated using the full available price history since Nov 14, 2014

0.69

The correlation between SRSA.L and DEM.L shifts across timeframes, from 0.51 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

SRSA.L vs. DEM.L - Sectors Allocation Comparison

Sectors
SRSA.L
DEM.L

Financial Services

36.2%
23.8%

Basic Materials

34.9%
5.4%

Consumer Cyclical

14.5%
7.9%

Communication Services

8.4%
5.0%

Consumer Defensive

2.5%
8.4%

Real Estate

1.5%
4.6%

Industrials

1.3%
11.0%

Healthcare

0.9%
1.7%

Energy

-

4.2%

Technology

-

23.9%

Utilities

-

4.2%

Financial Services

SRSA.L
36.2%
DEM.L
23.8%

Basic Materials

SRSA.L
34.9%
DEM.L
5.4%

Consumer Cyclical

SRSA.L
14.5%
DEM.L
7.9%

Communication Services

SRSA.L
8.4%
DEM.L
5.0%

Consumer Defensive

SRSA.L
2.5%
DEM.L
8.4%

Real Estate

SRSA.L
1.5%
DEM.L
4.6%

Industrials

SRSA.L
1.3%
DEM.L
11.0%

Healthcare

SRSA.L
0.9%
DEM.L
1.7%

Energy

SRSA.L

-

DEM.L
4.2%

Technology

SRSA.L

-

DEM.L
23.9%

Utilities

SRSA.L

-

DEM.L
4.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI South Africa UCITS ETF USD (Acc)

WisdomTree Emerging Markets Equity Income UCITS ETF

Often compared with SRSA.L:
SRSA.L vs. IWVG.LSRSA.L vs. CNDX.LSRSA.L vs. EIMI.LSRSA.L vs. CSP1.LSRSA.L vs. FLES.LSRSA.L vs. IGLN.LSRSA.L vs. IUIT.L
Often compared with DEM.L:
DEM.L vs. JEPG.LDEM.L vs. IEMGDEM.L vs. VEVE.ASDEM.L vs. IWRD.LDEM.L vs. QQQMDEM.L vs. QGRWDEM.L vs. SSO

Return for Risk

SRSA.L vs. DEM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SRSA.L
SRSA.L Risk / Return Rank: 2828
Overall Rank
SRSA.L Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
SRSA.L Sortino Ratio Rank: 2929
Sortino Ratio Rank
SRSA.L Omega Ratio Rank: 2929
Omega Ratio Rank
SRSA.L Calmar Ratio Rank: 2727
Calmar Ratio Rank
SRSA.L Martin Ratio Rank: 2424
Martin Ratio Rank
DEM.L
DEM.L Risk / Return Rank: 6363
Overall Rank
DEM.L Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
DEM.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
DEM.L Omega Ratio Rank: 5555
Omega Ratio Rank
DEM.L Calmar Ratio Rank: 7878
Calmar Ratio Rank
DEM.L Martin Ratio Rank: 6767
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.

SRSA.L vs. DEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI South Africa UCITS ETF USD (Acc) (SRSA.L) and WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.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.

SRSA.LDEM.LDifference
Sharpe ratioReturn per unit of total volatility
0.77
1.48

-0.71

Sortino ratioReturn per unit of downside risk
1.18
2.08

-0.90

Omega ratioGain probability vs. loss probability

1.15

1.26

-0.11

Calmar ratioReturn relative to maximum drawdown

1.00

3.01

-2.01

Martin ratioReturn relative to average drawdown

2.13

8.80

-6.67

SRSA.L vs. DEM.L - Sharpe Ratio Comparison

The current SRSA.L Sharpe Ratio is 0.77, which is lower than the DEM.L Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of SRSA.L and DEM.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

SRSA.L vs. DEM.L - Drawdown Comparison

The maximum SRSA.L drawdown since its inception was -52.58%, roughly equal to the maximum DEM.L drawdown of -55.11%. Use the drawdown chart below to compare losses from any high point for SRSA.L and DEM.L.

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Drawdown Indicators

SRSA.LDEM.LDifference

Max Drawdown

Largest peak-to-trough decline

-52.58%

-55.11%

+2.53%

Max Drawdown (1Y)

Largest decline over 1 year

-23.06%

-6.72%

-16.34%

Max Drawdown (3Y)

Largest decline over 3 years

-27.05%

-12.37%

-14.68%

Max Drawdown (5Y)

Largest decline over 5 years

-27.76%

-14.48%

-13.28%

Max Drawdown (10Y)

Largest decline over 10 years

-52.58%

-30.09%

-22.49%

Current Drawdown

Current decline from peak

-21.79%

-5.23%

-16.56%

Average Drawdown

Average peak-to-trough decline

-16.97%

-17.55%

+0.58%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.88%

2.30%

+8.58%

Volatility

SRSA.L vs. DEM.L - Volatility Comparison

iShares MSCI South Africa UCITS ETF USD (Acc) (SRSA.L) has a higher volatility of 6.07% compared to WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L) at 5.15%. This indicates that SRSA.L's price experiences larger fluctuations and is considered to be riskier than DEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SRSA.LDEM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

5.15%

+0.92%

Volatility (6M)

Calculated over the trailing 6-month period

25.73%

11.32%

+14.41%

Volatility (1Y)

Calculated over the trailing 1-year period

30.16%

13.69%

+16.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

28.64%

13.32%

+15.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

31.99%

15.90%

+16.09%

SRSA.L vs. DEM.L - Expense Ratio Comparison

SRSA.L has a 0.65% expense ratio, which is higher than DEM.L's 0.46% expense ratio.

Dividends

SRSA.L vs. DEM.L - Dividend Comparison

SRSA.L has not paid dividends to shareholders, while DEM.L's dividend yield for the trailing twelve months is around 3.70%.

PositionTTM20252024202320222021202020192018201720162015
DEM.L
WisdomTree Emerging Markets Equity Income UCITS ETF		3.70%4.47%7.67%7.00%7.05%4.14%4.77%1.46%0.00%2.15%1.49%4.55%
SRSA.L
iShares MSCI South Africa UCITS ETF USD (Acc)		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

SRSA.L and DEM.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, DEM.L is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

DEM.L is cheaper with a 0.46% expense ratio, compared with 0.65% for SRSA.L.

SRSA.L tracks MSCI South Africa 20/35 Index, while DEM.L tracks MSCI EM NR USD. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.65% for SRSA.L and 0.46% for DEM.L.

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