SUSM.L vs. FEM.L
SUSM.L (iShares MSCI EM SRI UCITS ETF USD (Acc)) and FEM.L (First Trust Emerging Markets AlphaDEX UCITS ETF Acc) are both Emerging Markets Equities funds - SUSM.L tracks the MSCI EM SRI Select Reduced Fossil Fuel Index while FEM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 10 years, SUSM.L returned 7.35%/yr vs 8.15%/yr for FEM.L. A 0.78 correlation means they provide meaningful diversification when combined. SUSM.L charges 0.25%/yr vs 0.80%/yr for FEM.L.
Performance
SUSM.L vs. FEM.L - Performance Comparison
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Different Trading Currencies
SUSM.L is traded in USD, while FEM.L is traded in GBp. To make them comparable, the FEM.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, SUSM.L achieves a 11.15% return, which is significantly lower than FEM.L's 15.37% return. Over the past 10 years, SUSM.L has underperformed FEM.L with an annualized return of 7.35%, while FEM.L has yielded a comparatively higher 8.15% annualized return.
SUSM.L
- 1D
- -2.20%
- 1M
- -3.44%
- 6M
- 7.02%
- YTD
- 11.15%
- 1Y
- 26.42%
- 3Y*
- 14.28%
- 5Y*
- 3.48%
- 10Y*
- 7.35%
FEM.L
- 1D
- -0.97%
- 1M
- -1.01%
- 6M
- 8.73%
- YTD
- 15.37%
- 1Y
- 31.53%
- 3Y*
- 15.87%
- 5Y*
- 7.03%
- 10Y*
- 8.15%
SUSM.L vs. FEM.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SUSM.L iShares MSCI EM SRI UCITS ETF USD (Acc) | 11.15% | 32.23% | 4.76% | 1.17% | -18.34% | -1.05% | 19.02% | 14.88% | -10.27% | 34.67% |
FEM.L First Trust Emerging Markets AlphaDEX UCITS ETF Acc | 15.37% | 27.40% | 3.37% | 9.71% | -14.08% | 7.73% | -1.00% | 19.72% | -16.32% | 39.74% |
Correlation
The correlation between SUSM.L and FEM.L is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2016 | 0.78 |
The correlation between SUSM.L and FEM.L has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.
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Return for Risk
SUSM.L vs. FEM.L — Risk / Return Rank
SUSM.L
FEM.L
SUSM.L vs. FEM.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM SRI UCITS ETF USD (Acc) (SUSM.L) and First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.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.
| SUSM.L | FEM.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 3.86 | -1.72 |
| Martin ratioReturn relative to average drawdown | 6.76 | 10.36 | -3.60 |
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Drawdowns
SUSM.L vs. FEM.L - Drawdown Comparison
The maximum SUSM.L drawdown since its inception was -40.77%, smaller than the maximum FEM.L drawdown of -56.43%. Use the drawdown chart below to compare losses from any high point for SUSM.L and FEM.L.
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Drawdown Indicators
| SUSM.L | FEM.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.77% | -56.43% | +15.66% |
Max Drawdown (1Y)Largest decline over 1 year | -12.30% | -8.14% | -4.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -17.77% | -1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | -31.03% | -2.86% |
Max Drawdown (10Y)Largest decline over 10 years | -40.77% | -45.92% | +5.15% |
Current DrawdownCurrent decline from peak | -7.30% | -5.59% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -13.80% | -25.58% | +11.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 3.04% | +0.86% |
Volatility
SUSM.L vs. FEM.L - Volatility Comparison
iShares MSCI EM SRI UCITS ETF USD (Acc) (SUSM.L) has a higher volatility of 8.53% compared to First Trust Emerging Markets AlphaDEX UCITS ETF Acc (FEM.L) at 7.02%. This indicates that SUSM.L's price experiences larger fluctuations and is considered to be riskier than FEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SUSM.L | FEM.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 7.02% | +1.51% |
Volatility (6M)Calculated over the trailing 6-month period | 18.07% | 15.12% | +2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.40% | 18.39% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.64% | 18.57% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.32% | 19.97% | +0.35% |
SUSM.L vs. FEM.L - Expense Ratio Comparison
SUSM.L has a 0.25% expense ratio, which is lower than FEM.L's 0.80% expense ratio.
Dividends
SUSM.L vs. FEM.L - Dividend Comparison
Neither SUSM.L nor FEM.L has paid dividends to shareholders.
Frequently Asked Questions
SUSM.L and FEM.L have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SUSM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SUSM.L is cheaper with a 0.25% expense ratio, compared with 0.80% for FEM.L.
SUSM.L tracks MSCI EM SRI Select Reduced Fossil Fuel Index, while FEM.L tracks MSCI EM NR USD. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.25% for SUSM.L and 0.80% for FEM.L.
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