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UAE vs. TUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UAE vs. TUR

Last updated Jun 4, 2026

UAE (iShares MSCI UAE ETF) and TUR (iShares MSCI Turkey ETF) are both Emerging Markets Equities funds from iShares - UAE tracks the MSCI All UAE Capped Index while TUR tracks the MSCI Turkey Investable Market Index. Both are passively managed. Over the past 10 years, UAE returned 5.59%/yr vs 2.47%/yr for TUR. At a 0.26 correlation, their price movements are largely independent. Both charge a 0.59% expense ratio.

Performance

UAE vs. TUR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI UAE ETF (UAE) and iShares MSCI Turkey ETF (TUR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UAE achieves a -2.82% return, which is significantly lower than TUR's 13.80% return. Over the past 10 years, UAE has outperformed TUR with an annualized return of 5.59%, while TUR has yielded a comparatively lower 2.47% annualized return.

UAE

1D
-1.38%
1M
-2.11%
YTD
-2.82%
6M
-0.47%
1Y
4.41%
3Y*
12.18%
5Y*
8.83%
10Y*
5.59%

TUR

1D
-2.34%
1M
-6.69%
YTD
13.80%
6M
16.84%
1Y
30.29%
3Y*
10.24%
5Y*
14.80%
10Y*
2.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UAE vs. TUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UAE
iShares MSCI UAE ETF		-2.82%21.35%15.25%2.91%-5.36%44.16%-7.23%1.59%-14.42%4.99%
TUR
iShares MSCI Turkey ETF		13.80%-1.54%12.91%-8.83%105.75%-27.41%-1.19%14.49%-41.46%37.58%

Correlation

The correlation between UAE and TUR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.25

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

0.21

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

0.23

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

0.25

Correlation (All Time)
Calculated using the full available price history since May 2, 2014

0.26

UAE vs. TUR - Sectors Allocation Comparison

Sectors
UAE
TUR

Financial Services

38.0%
15.3%

Real Estate

20.5%
1.2%

Industrials

11.4%
25.7%

Communication Services

9.6%
3.2%

Energy

8.3%
6.2%

Consumer Cyclical

5.2%
5.0%

Utilities

4.3%
1.7%

Consumer Defensive

1.7%
13.7%

Technology

1.0%
0.8%

Basic Materials

0.1%
11.5%

Healthcare

-

2.0%

Financial Services

UAE
38.0%
TUR
15.3%

Real Estate

UAE
20.5%
TUR
1.2%

Industrials

UAE
11.4%
TUR
25.7%

Communication Services

UAE
9.6%
TUR
3.2%

Energy

UAE
8.3%
TUR
6.2%

Consumer Cyclical

UAE
5.2%
TUR
5.0%

Utilities

UAE
4.3%
TUR
1.7%

Consumer Defensive

UAE
1.7%
TUR
13.7%

Technology

UAE
1.0%
TUR
0.8%

Basic Materials

UAE
0.1%
TUR
11.5%

Healthcare

UAE

-

TUR
2.0%

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 UAE ETF

iShares MSCI Turkey ETF

Often compared with UAE:
UAE vs. KSAUAE vs. QATUAE vs. SPYUAE vs. VOOUAE vs. STLAUAE vs. EWZUAE vs. XLP
Often compared with TUR:
TUR vs. VOOTUR vs. HEDJTUR vs. AMRTUR vs. EPOLTUR vs. SPYTUR vs. VGKTUR vs. SFM

Return for Risk

UAE vs. TUR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UAE
UAE Risk / Return Rank: 1111
Overall Rank
UAE Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
UAE Sortino Ratio Rank: 1111
Sortino Ratio Rank
UAE Omega Ratio Rank: 1111
Omega Ratio Rank
UAE Calmar Ratio Rank: 1111
Calmar Ratio Rank
UAE Martin Ratio Rank: 1111
Martin Ratio Rank
TUR
TUR Risk / Return Rank: 3535
Overall Rank
TUR Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
TUR Sortino Ratio Rank: 3333
Sortino Ratio Rank
TUR Omega Ratio Rank: 3535
Omega Ratio Rank
TUR Calmar Ratio Rank: 3838
Calmar Ratio Rank
TUR Martin Ratio Rank: 3636
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.

UAE vs. TUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UAE ETF (UAE) and iShares MSCI Turkey ETF (TUR). 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.

UAETURDifference
Sharpe ratioReturn per unit of total volatility
0.20
1.20

-1.00

Sortino ratioReturn per unit of downside risk
0.44
1.79

-1.35

Omega ratioGain probability vs. loss probability

1.06

1.24

-0.18

Calmar ratioReturn relative to maximum drawdown

0.21

1.89

-1.69

Martin ratioReturn relative to average drawdown

0.53

5.67

-5.14

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UAE vs. TUR - Sharpe Ratio Comparison

The current UAE Sharpe Ratio is 0.20, which is lower than the TUR Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of UAE and TUR, 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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Sharpe Ratios by Period

UAETURDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.20

1.20

-1.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.47

0.44

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.29

0.07

+0.22

Sharpe Ratio (All Time)

Calculated using the full available price history

0.06

0.04

+0.02

Drawdowns

UAE vs. TUR - Drawdown Comparison

The maximum UAE drawdown since its inception was -60.49%, smaller than the maximum TUR drawdown of -72.34%. Use the drawdown chart below to compare losses from any high point for UAE and TUR.

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Drawdown Indicators

UAETURDifference

Max Drawdown

Largest peak-to-trough decline

-60.49%

-72.34%

+11.85%

Max Drawdown (1Y)

Largest decline over 1 year

-21.50%

-16.07%

-5.43%

Max Drawdown (3Y)

Largest decline over 3 years

-21.50%

-31.63%

+10.13%

Max Drawdown (5Y)

Largest decline over 5 years

-27.47%

-31.63%

+4.16%

Max Drawdown (10Y)

Largest decline over 10 years

-49.71%

-59.25%

+9.54%

Current Drawdown

Current decline from peak

-16.42%

-28.38%

+11.96%

Average Drawdown

Average peak-to-trough decline

-23.91%

-39.90%

+15.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.37%

5.36%

+3.01%

Volatility

UAE vs. TUR - Volatility Comparison

The current volatility for iShares MSCI UAE ETF (UAE) is 6.49%, while iShares MSCI Turkey ETF (TUR) has a volatility of 14.14%. This indicates that UAE experiences smaller price fluctuations and is considered to be less risky than TUR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UAETURDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.49%

14.14%

-7.65%

Volatility (6M)

Calculated over the trailing 6-month period

19.05%

19.90%

-0.85%

Volatility (1Y)

Calculated over the trailing 1-year period

21.99%

25.40%

-3.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.77%

34.16%

-15.39%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.54%

34.39%

-14.85%

UAE vs. TUR - Expense Ratio Comparison

Both UAE and TUR have an expense ratio of 0.59%.

Dividends

UAE vs. TUR - Dividend Comparison

UAE's dividend yield for the trailing twelve months is around 4.22%, more than TUR's 2.11% yield.

PositionTTM20252024202320222021202020192018201720162015
TUR
iShares MSCI Turkey ETF		2.11%2.40%1.79%4.43%1.97%4.22%0.87%3.29%4.05%2.64%2.89%3.04%
UAE
iShares MSCI UAE ETF		4.22%4.10%3.32%3.25%2.67%4.88%4.75%3.54%5.56%3.38%4.74%3.77%

Frequently Asked Questions

UAE and TUR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TUR has higher volatility (14.14%) compared to UAE (6.49%). In terms of maximum drawdown, UAE dropped -60.49% vs TUR's -72.34%.

On 10-year performance, UAE leads with 5.59% vs 2.47% for TUR. Both ETFs have the same 0.59% expense ratio. On volatility, UAE has been the lower-risk option at 6.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, UAE has performed better with a 5.59% return vs 2.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UAE and TUR have the same expense ratio: 0.59% per year.

UAE has the higher dividend yield at 4.22%, compared with 2.11% for TUR.

UAE tracks MSCI All UAE Capped Index, while TUR tracks MSCI Turkey Investable Market Index.

TUR currently has the higher Sharpe Ratio (1.20 vs 0.20), 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.

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