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UEVM vs. IEMG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UEVM vs. IEMG

Last updated Aug 2, 2026
Documentation

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and IEMG (iShares Core MSCI Emerging Markets ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while IEMG is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Investable Market Index (USD) (Net). Both are passively managed. Over the past 5 years, UEVM returned 8.82%/yr vs 7.26%/yr for IEMG. Their correlation of 0.90 means they have usually moved in the same direction. UEVM charges 0.45%/yr vs 0.09%/yr for IEMG.

Performance

UEVM vs. IEMG - Performance Comparison

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

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Returns By Period

In the year-to-date period, UEVM achieves a 9.22% return, which is significantly lower than IEMG's 16.38% return.

UEVM

1D
-0.02%
1M
4.47%
6M
2.14%
YTD
9.22%
1Y
18.71%
3Y*
15.98%
5Y*
8.82%
10Y*
—
ALL TIME*
5.83%

IEMG

1D
0.73%
1M
-2.79%
6M
7.82%
YTD
16.38%
1Y
32.88%
3Y*
18.00%
5Y*
7.26%
10Y*
8.84%
ALL TIME*
6.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IEMG

iShares Core MSCI Emerging Markets ETF
$833.06M$972.69M$1.09B

UEVM

VictoryShares Emerging Markets Value Momentum ETF
$160.79K$206.71K$202.65K

UEVM vs. IEMG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UEVM
VictoryShares Emerging Markets Value Momentum ETF		9.22%22.74%11.92%17.41%-14.60%11.09%3.77%10.71%-16.96%3.04%
IEMG
iShares Core MSCI Emerging Markets ETF		16.38%32.56%6.50%11.52%-19.98%-0.64%17.87%17.81%-14.92%4.81%

Correlation

The correlation between UEVM and IEMG is 0.85, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.87

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.88

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2017

0.90

The correlation between UEVM and IEMG has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

UEVM vs. IEMG - Sectors Allocation Comparison

Sectors
UEVM
IEMG

Financial Services

26.7%
17.3%

Consumer Cyclical

11.6%
7.7%

Consumer Defensive

10.1%
2.8%

Industrials

9.7%
7.7%

Healthcare

8.7%
3.2%

Technology

8.6%
43.6%

Basic Materials

7.4%
5.8%

Energy

5.9%
3.0%

Utilities

5.0%
1.9%

Real Estate

4.2%
1.5%

Communication Services

2.2%
5.6%

Financial Services

UEVM
26.7%
IEMG
17.3%

Consumer Cyclical

UEVM
11.6%
IEMG
7.7%

Consumer Defensive

UEVM
10.1%
IEMG
2.8%

Industrials

UEVM
9.7%
IEMG
7.7%

Healthcare

UEVM
8.7%
IEMG
3.2%

Technology

UEVM
8.6%
IEMG
43.6%

Basic Materials

UEVM
7.4%
IEMG
5.8%

Energy

UEVM
5.9%
IEMG
3.0%

Utilities

UEVM
5.0%
IEMG
1.9%

Real Estate

UEVM
4.2%
IEMG
1.5%

Communication Services

UEVM
2.2%
IEMG
5.6%

Compare stocks, funds, or ETFs

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

VictoryShares Emerging Markets Value Momentum ETF

iShares Core MSCI Emerging Markets ETF

Often compared with UEVM:
UEVM vs. EMMFUEVM vs. SPEMUEVM vs. EMGFUEVM vs. SCHDUEVM vs. HAWXUEVM vs. VWOUEVM vs. IXUS
Often compared with IEMG:
IEMG vs. VWOIEMG vs. EEMIEMG vs. IEFAIEMG vs. EMXCIEMG vs. SCHEIEMG vs. IXUSIEMG vs. SPY

Return for Risk

UEVM vs. IEMG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
UEVM
UEVM Risk / Return Rank: 4747
Overall Rank
UEVM Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
UEVM Sortino Ratio Rank: 4444
Sortino Ratio Rank
UEVM Omega Ratio Rank: 4646
Omega Ratio Rank
UEVM Calmar Ratio Rank: 5252
Calmar Ratio Rank
UEVM Martin Ratio Rank: 4747
Martin Ratio Rank
IEMG
IEMG Risk / Return Rank: 6060
Overall Rank
IEMG Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
IEMG Sortino Ratio Rank: 5353
Sortino Ratio Rank
IEMG Omega Ratio Rank: 6161
Omega Ratio Rank
IEMG Calmar Ratio Rank: 6868
Calmar Ratio Rank
IEMG Martin Ratio Rank: 6060
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UEVM vs. IEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) 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.

UEVMIEMGDifference
Sharpe ratioReturn per unit of total volatility
1.16
1.35

-0.20

Sortino ratioReturn per unit of downside risk
1.62
1.85

-0.23

Omega ratioGain probability vs. loss probability

1.21

1.26

-0.05

Calmar ratioReturn relative to maximum drawdown

1.88

2.33

-0.45

Martin ratioReturn relative to average drawdown

5.45

7.16

-1.71

UEVM vs. IEMG - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.16, which is comparable to the IEMG Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of UEVM 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.

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Drawdowns

UEVM vs. IEMG - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, which is greater than IEMG's maximum drawdown of -38.71%. Use the drawdown chart below to compare losses from any high point for UEVM and IEMG.

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Drawdown Indicators

UEVMIEMGDifference

Max Drawdown

Largest peak-to-trough decline

-45.44%

-38.71%

-6.73%

Max Drawdown (1Y)

Largest decline over 1 year

-9.79%

-13.78%

+3.99%

Max Drawdown (3Y)

Largest decline over 3 years

-18.88%

-17.21%

-1.67%

Max Drawdown (5Y)

Largest decline over 5 years

-26.55%

-33.61%

+7.06%

Max Drawdown (10Y)

Largest decline over 10 years

—

-38.71%

—

Current Drawdown

Current decline from peak

-1.98%

-9.76%

+7.78%

Average Drawdown

Average peak-to-trough decline

-11.53%

-12.89%

+1.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

4.47%

-1.10%

Volatility

UEVM vs. IEMG - Volatility Comparison

The current volatility for VictoryShares Emerging Markets Value Momentum ETF (UEVM) is 4.13%, while iShares Core MSCI Emerging Markets ETF (IEMG) has a volatility of 8.73%. This indicates that UEVM 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

UEVMIEMGDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.13%

8.73%

-4.60%

Volatility (6M)

Calculated over the trailing 6-month period

13.33%

21.74%

-8.41%

Volatility (1Y)

Calculated over the trailing 1-year period

15.96%

23.71%

-7.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.04%

19.27%

-3.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.37%

20.32%

-1.95%

UEVM vs. IEMG - Expense Ratio Comparison

UEVM has a 0.45% expense ratio, which is higher than IEMG's 0.09% expense ratio.

Dividends

UEVM vs. IEMG - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 2.66%, more than IEMG's 2.32% yield.

PositionTTM20252024202320222021202020192018201720162015
IEMG
iShares Core MSCI Emerging Markets ETF		2.32%2.75%3.20%2.89%2.71%3.06%1.87%3.15%2.76%2.35%2.28%2.53%
UEVM
VictoryShares Emerging Markets Value Momentum ETF		2.66%4.02%5.65%4.71%3.46%4.49%2.19%2.79%2.34%0.79%0.00%0.00%

Frequently Asked Questions

UEVM and IEMG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IEMG has higher volatility (8.73%) compared to UEVM (4.13%). In terms of maximum drawdown, UEVM dropped -45.44% vs IEMG's -38.71%.

On 5-year performance, UEVM leads with 8.82% vs 7.26% for IEMG. On fees, IEMG is cheaper at 0.09% per year. On volatility, UEVM has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, UEVM has performed better with a 8.82% return vs 7.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEMG is cheaper with a 0.09% expense ratio, compared with 0.45% for UEVM.

UEVM has the higher dividend yield at 2.66%, compared with 2.32% for IEMG.

UEVM is categorized as Momentum, while IEMG is Emerging Markets Equities. UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while IEMG tracks MSCI Emerging Markets Investable Market Index (USD) (Net). They also come from different issuers: Victory and iShares. Their fees differ too: 0.45% for UEVM and 0.09% for IEMG.

IEMG currently has the higher Sharpe Ratio (1.35 vs 1.16), 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.

Portfolio Optimizer

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