EIMI vs VFEM: returns, risk and drawdowns compared
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc) against Vanguard FTSE Emerging Markets UCITS ETF (Dist), over the same 7 years (February 2019 to October 2026) with dividends reinvested.
Data updated October 2026
From February 2019 to October 2026, EIMI returned 8.4% a year and VFEM 4.8% a year on average, so EIMI came out ahead by 3.6% a year. EIMI was the more volatile of the two (15.1% against 13.2% a year), and the deepest falls from a month-end high were 22.7% for EIMI and 23.0% for VFEM.
The correlation of monthly returns was 0.95: they moved almost in lockstep. Over 57 rolling 3-year periods, EIMI did better in 100% and VFEM in 0%.
Side by side
| EIMI | VFEM | |
|---|---|---|
| Annual return (CAGR) | +8.4% | +4.8% |
| Total return | +86% | +43% |
| Annual volatility | 15.1% | 13.2% |
| Maximum drawdown (month-end) | −22.7% | −23.0% |
| Worst month | −14.4% | −14.3% |
| Best month | +11.5% | +9.3% |
| Positive months | 58% | 59% |
| Best year | 2025: +17.2% | 2024: +16.8% |
| Worst year | 2022: −15.2% | 2022: −15.1% |
| 1-year return | +21.2% | +9.5% |
| 5 years, a year | +7.7% | +3.4% |
| 10 years, a year | +8.1% | — |
| Trading currency | EUR | EUR |
First nine rows: the same 92 months for both funds. Trailing returns: to each fund’s last close.
Growth of 10,000: EIMI vs VFEM
Returns by calendar year
| Year | EIMI | VFEM |
|---|---|---|
| 2025 | +17.2% | +9.0% |
| 2024 | +14.1% | +16.8% |
| 2023 | +7.8% | +1.3% |
| 2022 | −15.2% | −15.1% |
| 2021 | +7.8% | +5.0% |
| 2020 | +7.8% | +1.7% |
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
The comparison uses only the months in which both funds have prices, so the figures cover the same period even when one fund is older.
Questions
Which has returned more, EIMI or VFEM?
From February 2019 to October 2026, EIMI returned +8.4% a year and VFEM +4.8% a year, with dividends reinvested. Over rolling 3-year periods EIMI did better in 100% of cases. Past returns do not predict future returns.
Which is riskier, EIMI or VFEM?
Over the same months annual volatility was 15.1% for EIMI and 13.2% for VFEM; the deepest fall from a month-end high was 22.7% and 23.0%, and the worst single month −14.4% and −14.3%.
How correlated are EIMI and VFEM?
The correlation of their monthly returns was 0.95: they moved almost in lockstep. Holding both adds little diversification compared with holding one.
More comparisons
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.