IEMG: iShares Core MSCI Emerging Markets ETF returns, drawdowns and risk
Funds on emerging and Asian markets, as a block or country by country.
Data updated October 2026
IEMG · US exchange · USDCategory: Emerging markets and Asia ETFsData from October 2012
From October 2012 to October 2026 IEMG returned 6.0% a year on average with dividends reinvested, in US dollars: $10,000 invested at the start grew to $22,705.
Its deepest fall was 38.7%, from January 2018 to March 2020, and it took about 34 months to get back to the previous high. Annual volatility was 19.8%; at the last close it was 10.0% below its high.
Against SPY (SPDR S&P 500 ETF Trust), over the 168 months both have data, the correlation of monthly returns was 0.68: they moved together only in part. Beta was 0.80. In months when SPY rose, IEMG moved 70% as much on average; in months when SPY fell, 96% as much.
Key figures
- Annual return (CAGR)
- +6.0%
- 1-year return
- +17.0%
- 5 years, a year
- +6.8%
- 10 years, a year
- +8.3%
- Annual volatility
- 19.8%
- Maximum drawdown
- −38.7%
- Sharpe ratio
- 0.31
- Worst year
- 2022: −20.0%
Trailing returns
| Period | IEMG | SPY |
|---|---|---|
| 1 year | +17.0% | +16.6% |
| 3 years, a year | +22.4% | +23.1% |
| 5 years, a year | +6.8% | +12.7% |
| 10 years, a year | +8.3% | +15.4% |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of $10,000: IEMG vs SPY
Month-end values from November 2012, the first month both funds have data.
IEMG drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | IEMG | SPY |
|---|---|---|
| 2026(partial) | +16.0% | +13.3% |
| 2025 | +32.6% | +17.7% |
| 2024 | +6.5% | +24.9% |
| 2023 | +11.5% | +26.2% |
| 2022 | −20.0% | −18.2% |
| 2021 | −0.6% | +28.7% |
| 2020 | +17.9% | +18.3% |
| 2019 | +17.8% | +31.2% |
| 2018 | −14.9% | −4.6% |
| 2017 | +37.4% | +21.7% |
| 2016 | +10.3% | +12.0% |
| 2015 | −14.3% | +1.2% |
| 2014 | −3.4% | +13.5% |
| 2013 | −2.8% | +32.3% |
| 2012(partial) | +8.5% | — |
IEMG compared
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.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of IEMG?
From October 2012 to October 2026 IEMG returned 6.0% a year on average (CAGR) with dividends reinvested, in USD. Over the last 5 years: +6.8% a year. Over the last 12 months: +17.0%.
What was the worst drawdown of IEMG?
38.7%, from January 2018 to March 2020; it took about 34 months from the previous high to get back to it.
How volatile is IEMG?
Annual volatility was 19.8% over the period. Its worst month was −16.9% and 57% of months were positive. Worst calendar year: 2022 (−20.0%).
How closely does IEMG follow SPY?
Over 168 months the correlation of monthly returns was 0.68, so they moved together only in part, with a beta of 0.80.
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Other Emerging markets and Asia ETFs
- All Emerging markets and Asia ETFsReturns and risk side by side
- VWO — Vanguard FTSE Emerging Markets ETFCAGR +9.6%
- EIMI — iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)CAGR +7.3%
- EEM — iShares MSCI Emerging Markets ETFCAGR +5.2%
- VFEM — Vanguard FTSE Emerging Markets UCITS ETF (Dist)CAGR +5.1%
- XMME — Xtrackers MSCI Emerging Markets UCITS ETF 1CCAGR +6.2%
- INDA — iShares MSCI India ETFCAGR +5.0%
- MCHI — iShares MSCI China ETFCAGR +2.6%
- FXI — iShares China Large-Cap ETFCAGR +3.0%
- KWEB — KraneShares CSI China Internet ETFCAGR +1.3%
- EWT — iShares MSCI Taiwan ETFCAGR +13.4%
- EWY — iShares MSCI South Korea ETFCAGR +7.8%
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.