UNCU.L vs. IEDY.L

Last updated Jul 18, 2026

UNCU.L (First Trust US Equity Income UCITS ETF USD (Acc)) and IEDY.L (iShares EM Dividend UCITS ETF USD (Dist)) are both Dividend funds - UNCU.L tracks the Nasdaq US High Equity Income NTR Index while IEDY.L tracks the Dow Jones Emerging Markets Select Dividend Index (USD) CLOSE NTR. Both are passively managed. Over the past 5 years, UNCU.L returned 10.32%/yr vs 4.73%/yr for IEDY.L. At a 0.40 correlation, their price movements are largely independent. UNCU.L charges 0.55%/yr vs 0.65%/yr for IEDY.L.

Performance

UNCU.L vs. IEDY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) and iShares EM Dividend UCITS ETF USD (Dist) (IEDY.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UNCU.L achieves a 19.69% return, which is significantly higher than IEDY.L's 8.81% return.

UNCU.L

• 1D: 0.06%
• 1M: 5.64%
• 6M: 16.43%
• YTD: 19.69%
• 1Y: 26.45%
• 3Y*: 15.54%
• 5Y*: 10.32%
• 10Y*: —

IEDY.L

• 1D: -0.48%
• 1M: -1.73%
• 6M: 4.81%
• YTD: 8.81%
• 1Y: 21.22%
• 3Y*: 18.40%
• 5Y*: 4.73%
• 10Y*: 6.34%

*Multi-year figures are annualized to reflect compound growth (CAGR)

UNCU.L vs. IEDY.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UNCU.L First Trust US Equity Income UCITS ETF USD (Acc)	19.69%	7.54%	6.63%	17.16%	-6.91%	32.03%	1.33%	17.33%	-8.34%	15.56%
IEDY.L iShares EM Dividend UCITS ETF USD (Dist)	8.81%	27.60%	7.02%	19.23%	-30.77%	11.02%	-2.56%	13.94%	-5.15%	10.51%

Correlation

The correlation between UNCU.L and IEDY.L 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	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (All Time) Calculated using the full available price history since May 9, 2017	0.40

The correlation between UNCU.L and IEDY.L shifts across timeframes, from 0.25 (1 year) to 0.40 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

UNCU.L vs. IEDY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

UNCU.L

UNCU.L Risk / Return Rank: 83
UNCU.L Sharpe Ratio Rank: 85
UNCU.L Sortino Ratio Rank: 88
UNCU.L Omega Ratio Rank: 79
UNCU.L Calmar Ratio Rank: 89
UNCU.L Martin Ratio Rank: 76

IEDY.L

IEDY.L Risk / Return Rank: 57
IEDY.L Sharpe Ratio Rank: 58
IEDY.L Sortino Ratio Rank: 57
IEDY.L Omega Ratio Rank: 55
IEDY.L Calmar Ratio Rank: 63
IEDY.L Martin Ratio Rank: 54

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.

UNCU.L vs. IEDY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) and iShares EM Dividend UCITS ETF USD (Dist) (IEDY.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.

	UNCU.L	IEDY.L	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.47	+0.60
Sortino ratio: Return per unit of downside risk	3.15	2.06	+1.09
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.09
Calmar ratio: Return relative to maximum drawdown	3.93	2.35	+1.58
Martin ratio: Return relative to average drawdown	10.37	6.85	+3.53

UNCU.L vs. IEDY.L - Sharpe Ratio Comparison

The current UNCU.L Sharpe Ratio is 2.07, which is higher than the IEDY.L Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of UNCU.L and IEDY.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.

Drawdowns

UNCU.L vs. IEDY.L - Drawdown Comparison

The maximum UNCU.L drawdown since its inception was -45.45%, smaller than the maximum IEDY.L drawdown of -48.42%. Use the drawdown chart below to compare losses from any high point for UNCU.L and IEDY.L.

Drawdown Indicators

	UNCU.L	IEDY.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.45%	-48.42%	+2.97%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-9.00%	+2.29%
Max Drawdown (3Y) Largest decline over 3 years	-21.42%	-14.34%	-7.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.42%	-41.24%	+19.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.24%	—
Current Drawdown Current decline from peak	0.00%	-5.65%	+5.65%
Average Drawdown Average peak-to-trough decline	-6.93%	-15.43%	+8.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	3.09%	-0.55%

Volatility

UNCU.L vs. IEDY.L - Volatility Comparison

First Trust US Equity Income UCITS ETF USD (Acc) (UNCU.L) has a higher volatility of 3.90% compared to iShares EM Dividend UCITS ETF USD (Dist) (IEDY.L) at 3.69%. This indicates that UNCU.L's price experiences larger fluctuations and is considered to be riskier than IEDY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UNCU.L	IEDY.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	3.69%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	11.92%	-2.96%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	14.38%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.83%	17.26%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.16%	18.36%	+3.80%

UNCU.L vs. IEDY.L - Expense Ratio Comparison

UNCU.L has a 0.55% expense ratio, which is lower than IEDY.L's 0.65% expense ratio.

Dividends

UNCU.L vs. IEDY.L - Dividend Comparison

UNCU.L has not paid dividends to shareholders, while IEDY.L's dividend yield for the trailing twelve months is around 5.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEDY.L iShares EM Dividend UCITS ETF USD (Dist)	5.12%	5.72%	7.94%	7.91%	9.38%	6.57%	4.79%	5.59%	5.69%	3.96%	4.59%	6.51%
UNCU.L First Trust US Equity Income 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

Can I hold both UNCU.L and IEDY.L in my portfolio?

UNCU.L and IEDY.L 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.

Which ETF is better, UNCU.L or IEDY.L?

On fees, UNCU.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UNCU.L or IEDY.L?

UNCU.L is cheaper with a 0.55% expense ratio, compared with 0.65% for IEDY.L.

What is the main difference between UNCU.L and IEDY.L?

UNCU.L tracks Nasdaq US High Equity Income NTR Index, while IEDY.L tracks Dow Jones Emerging Markets Select Dividend Index (USD) CLOSE NTR. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.55% for UNCU.L and 0.65% for IEDY.L.