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iShares EM Dividend UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00B652H904Ticker: EUNY (Xetra) · IEDY (London SE) · IEDY (SIX)Issuer: iShares
Issuer-declared data
Declared index
Dow Jones Emerging Markets Select Dividend Index (USD) CLOSE NTR
TER
0.65%
Transaction costs
0.14% (issuer estimate, from the KID)
Management
Passive (index-tracking)
Replication
Income policy
SFDR
Article 6 — does not promote specific ESG characteristics what does it mean?
Fund assets
1.3 bn EUR
NAV
19.8 USD (31 August 2026)
Domicile
Ireland
Inception date
25 November 2011
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
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Description

iShares EM Dividend UCITS ETF tracks the issuer-declared index: Dow Jones Emerging Markets Select Dividend Index (USD) CLOSE NTR. The declared annual cost (TER) is 0.65%, plus 0.14% in transaction costs estimated by the issuer in the KID. Replication is physical replication (the KID declares buying all or a substantial number of the index constituents); income is distributed to investors. The fund has assets of about 1.3 billion euro, was launched on 25 November 2011 and is domiciled in Ireland.

The fund’s objective — in the issuer’s words

The Share Class is a share class of a Fund which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Dow Jones Emerging Markets Select Dividend Index, the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest in the equity securities (e.g. shares) that, so far as possible and practicable, make up the Index. The Index measures the performance of 100 leading stocks by dividend yield of companies in emerging markets that meet specific criteria. The Index includes all companies in the relevant Dow Jones Emerging Markets Total Stock Market Specialty Index which, at the time of inclusion, meet the index provider’s criteria for dividend payment, dividend yield, earnings per share, size and liquidity. The Index is rebalanced annually and is weighted according to a combination of dividend yield and market capitalisation. The Fund intends to replicate the Index by holding the equity securities, which make up the Index, in similar proportions to it. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. In order to gain exposure to certain securities in emerging markets that make up its Index, the Fund may invest in American Depository Receipts (ADRs) and Global Depositary Receipts (GDRs). ADRs and GDRs are investments issued by financial institutions which give exposure to underlying equity securities. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set the costs of the Fund. The price of equity securities fluctuates daily and may be influenced by factors affecting the performance of the individual companies issuing the equities, as well as by daily stock market movements, and broader economic and political developments which in turn may affect the value of your investment. The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

Keep reading the KID section ▾

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares V plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be distributing shares (i.e. income will be paid on the shares quarterly). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

From the KID’s “Objectives” section · 4 August 2026 · original document ↓
Text generated from the data the issuer declares in official product lists. No recommendation.

Quick reads

  • TER 0.65%: above the median of equity ETFs we track (0.22%).
  • Assets larger than 78% of equity ETFs we track.
  • Average tracking difference over the last 3 years: -0.65% p.a., against a declared TER of 0.65%.
Comparisons computed by Rebalix on the declared data in our census; they describe the past and are not indicative of future results.

Official documents

Key Information Document (KID)PDF in English, from the issuer’s site — always the latest filed versionProspectusPDF in English, from the issuer’s site — the fund’s full legal documentFactsheetPDF in English, from the issuer’s site — the fund’s monthly snapshot
The KID is the document the law requires you to read before investing: 3 pages covering risks, costs and scenarios. The link opens the issuer’s published PDF.

Fund performance

issuer-declared net asset value (NAV) · USD · from Nov 2011 to Aug 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+85.1%
Annualised
+4.3%
Volatility (ann.)
14.6%
Max drawdown
-48.02%
-33%-2%+29%+60%+91%Nov 2011Jul 2015Mar 2019Dec 2022Aug 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+85%Nov 2011Aug 2026
Note — currency risk: the fund is denominated (or hedged) in USD and the chart is in USD. For a euro investor, returns also depend on the EUR/USD exchange rate, up or down.
Tip: drag across the chart to zoom into a period.

Drawdown — distance from previous peak

This isn’t the return: it shows how far the fund is below its previous peak. 0% = you’re at the peak; below zero = how much you’re down and haven’t recovered yet.
0%-10%-20%-30%-40%-50%201120142017202020232026−48.02% · 21 Jan 2016
Max drawdown
-48.02%
peak → trough
Trough
21 Jan 2016
from the 03 Jan 2013 peak
Recovery time
1,453 days
recovery only: trough to break-even · ≈ 3 years and 12 months
Underwater
2,566 days
decline + recovery: peak to break-even · ≈ 7 years · → recovered on 13 Jan 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
03 Jan 201321 Jan 2016-48.02%13 Jan 20202,566
10 Feb 202229 Sept 2022-40.89%05 Sept 20251,303
17 Jan 202023 Mar 2020-37.91%11 Mar 2021419
29 Feb 201201 Jun 2012-13.65%06 Dec 2012281
21 Apr 202601 Jul 2026-8.60%21 Aug 2026122

Calendar-year returns

2016
20.2%
2017
25.6%
2018
-6.0%
2019
14.9%
2020
-2.6%
2021
10.8%
2022
-30.7%
2023
20.3%
2024
6.7%
2025
27.3%
2026
15.9%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20269.33.3-2.91.9-1.4-4.16.72.915.9
20252.0-0.63.7-0.64.63.10.73.41.62.71.92.027.3
2024-2.31.6-0.94.34.6-1.6-1.02.46.7-4.4-2.70.56.7
20236.7-5.20.52.1-4.75.95.8-5.30.5-2.38.67.620.3
2022-0.0-11.7-2.9-6.0-0.3-11.7-2.90.2-8.5-0.110.0-0.1-30.7
2021-1.34.42.51.72.5-1.4-1.33.90.1-0.8-4.65.010.8
2020-4.4-8.5-18.79.12.00.81.9-0.6-3.9-0.616.38.6-2.6
201910.6-1.4-1.21.1-3.35.8-0.4-6.10.62.20.86.214.9
20187.8-2.5-2.1-2.5-1.7-2.93.7-2.70.5-3.62.8-2.3-6.0
20175.95.51.70.32.2-0.63.73.3-1.20.5-1.13.025.6
2016-6.03.411.92.6-6.66.97.80.21.61.4-4.31.420.2
2015-0.22.5-3.611.2-6.0-2.3-10.5-11.0-4.76.5-5.0-2.2-24.5
2014-6.82.73.81.41.21.20.91.5-8.1-1.0-0.3-5.3-9.2
2013-1.3-1.8-2.12.0-3.2-6.1-0.1-1.96.94.8-4.0-3.3-10.4
201210.27.7-2.1-2.0-9.34.51.12.04.3-1.42.35.924.0
20110.05.2
From month-end NAVs, over the fund’s full history, on the series shown in the chart (dividends reinvested where declared). Deeper colour = larger move.
Issuer-declared series with dividends reinvested: the total performance, comparable with accumulating funds. Switch it off to see the price (NAV) alone, which drops at every dividend payment.
Source: iShares. Issuer-declared historical series; inflation: Eurostat and national statistical institutes, latest available July 2026 — for later days the index stays at the last published value (institutes publish with a few weeks’ lag). The «adjusted for inflation» view expresses value in today’s purchasing power for the selected country; volatility always stays nominal, as elsewhere on the site (deflating it would add artificial swings caused by the monthly cadence of the price index). Past performance is not indicative of future results: these are facts, not a recommendation.

Tracking difference — fund vs index

How much the fund returned above (+) or below (−) its index, year by year. It measures the actual deviation: the combined effect of costs (TER and transaction), securities-lending revenue and replication optimisations — which is why it can beat the TER. Tracking difference was positive in 2 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
-0.65% /anno
Declared TER
0.65%
YearFundIndexDifference
2025+27.25%+28.03%-0.78%
2024+6.66%+8.41%-1.75%
2023+20.33%+19.76%+0.57%
2022-30.71%-31.43%+0.73%
2021+10.81%+11.61%-0.79%
2020-2.61%-2.26%-0.35%
2019+14.87%+15.78%-0.91%
2018-6.02%-5.70%-0.32%
2017+25.58%+26.00%-0.42%
2016+20.25%+21.10%-0.86%
Total-return figures from issuer-declared series (primary source); complete calendar years. TD is not comparable across sites using different methodologies or index variants. Past performance is not indicative of future results. What is tracking difference? →

Risk indicators· EUR

Last yearLast 3 yearsLast 5 yearsLast 10 yearsFull history
Volatility (ann.)10.95%12.59%14.77%14.78%14.86%
Max drawdown-7.12%-17.54%-38.35%-41.39%-49.94%
Sharpe1.690.66-0.18-0.03-0.02
Sortino2.540.91-0.24-0.04-0.03
Computed from the daily NAV series, always in nominal terms. Sharpe and Sortino use the ECB main refinancing rate averaged over the period (last year: 2.21%), weighted by days in force, as the risk-free rate. Same formulas as our public methodology: sample standard deviation annualised over 252 days; Sortino with downside deviation. Past performance is not indicative of future results. Figures in EUR — series converted day by day at ECB reference rates; the table follows the currency selected in the chart.

Portfolio holdings

Securities in portfolio
115
166 total lines: 51 cash & derivatives
Top-10 weight
28.0%

Top 10 holdings

PETROLEO BRASILEIRO PREF SA · PETR4
3.90%
EVERGREEN MARINE CORP (TAIWAN) LTD · 2603
3.47%
CHINA CONSTRUCTION BANK CORP H · 939
3.16%
CIA VALE DO RIO DOCE SH · VALE3
3.14%
GPO FINANCE BANORTE · GFNORTEO
2.47%
INDUSTRIAL AND COMMERCIAL BANK OF · 1398
2.46%
ORLEN · PKN
2.43%
BANK OF CHINA LTD H · 3988
2.43%
NOVATEK MICROELECTRONICS · 3034
2.41%
ITAUSA INVESTIMENTOS ITAU PREF SA · ITSA4
2.10%

Sectors

Financials
31.0%
Energy
18.7%
Industrials
14.6%
Information Technology
8.6%
Materials
8.0%
Utilities
6.4%
Consumer Discretionary
5.4%

Countries

AfghanistanAngolaAlbaniaUnited Arab Emirates: 0.5%ArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 22.6%BruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChileChina: 23.4%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombia: 3.1%Costa RicaCubaCyprusCzech Republic: 2%GermanyDjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgyptEritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 1.1%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungaryIndonesia: 9.1%India: 1.5%IrelandIranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth KoreaKosovoKuwaitLaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourg: 1%LatviaMoroccoMoldovaMadagascarMexico: 3.4%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 1.2%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeruPhilippinesPapua New GuineaPoland: 5.9%Puerto RicoNorth KoreaPortugalParaguayQatar: 0.6%RomaniaRussiaRwandaWestern SaharaSaudi ArabiaSudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailand: 3.2%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 15.7%United Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 0.3%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 2.7%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
China23.4%
Brazil22.6%
Taiwan15.7%
Indonesia9.1%
Poland5.9%
Mexico3.4%
Thailand3.2%
Download the full portfolio — Excel, 166 rows
Full portfolio declared by iShares, as of 31 August 2026: this is the summary. Percentages may not sum to 100 due to cash, derivatives and rounding.
Fund historyFund-assets (AUM) chart year by year and monthly basket snapshots.Open the history →

Dividends

Latest dividend
0.32 USD
ex 18 Jun 2026 · paid 30 Jun 2026
Dividends, last 12 months
0.95 USD
Dividend yield
4.68%
12-month sum over the NAV as of 8 Sept 2026

Yield by year

PeriodDividendsDividend yield
1 year0.95 USD5.68 %
20251.00 USD6.83 %
20241.16 USD7.82 %
20231.16 USD8.64 %
20221.27 USD6.01 %
20211.39 USD6.84 %

Dividend contribution to total return

-40%-30%-20%-10%0%10%20%30%+26.95 %1 year+26.48 %2025+6.54 %2024+19.14 %2023−30.46 %2022+10.82 %2021
dividendsprice changeprice decline

Calendar per share (USD)

YearJanFebMarAprMayJunJulAugSepOctNovDec
20260.170.32
20250.150.390.340.12
20240.090.410.380.28
20230.090.540.380.15
20220.220.440.420.19
20210.100.500.580.21
20200.170.300.390.12
20190.110.410.560.15
20180.090.280.590.20
20170.050.230.490.13
20160.030.190.530.11
20150.040.250.540.24
20140.010.310.510.35
20130.120.300.470.16
20120.060.490.490.35

Latest dividends

Per shareEx-dividend dateRecord datePayment
0.32 USD18 Jun 202619 Jun 202630 Jun 2026
0.17 USD19 Mar 202620 Mar 202631 Mar 2026
0.12 USD11 Dec 202512 Dec 202524 Dec 2025
0.34 USD11 Sept 202512 Sept 202524 Sept 2025
0.39 USD12 Jun 202513 Jun 202525 Jun 2025
0.15 USD13 Mar 202514 Mar 202526 Mar 2025
0.28 USD12 Dec 202413 Dec 202427 Dec 2024
0.38 USD12 Sept 202413 Sept 202425 Sept 2024
Per-share dividends as declared by the issuer, in USD, since the first payment (22 Feb 2012). Past dividends are not indicative of future ones.

Italian taxation

Effective rate on capital gains
26.00%
White-list share
0.00%
From the government-bond («white list») share certified by the issuer every semester: 12.5% on that portion, 26% on the rest.
Deep-dive into this fund’s taxation →

Where it shows up commission-free in Italy

According to the official lists published by the brokers (downloaded and cross-checked by us), these share classes of the fund appear tradable with zero fees:

IE00B652H904EUNY(class: USD (Dist))
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
Full terms, traps and method in the observatory: Free savings plans and zero-commission ETFs: the broker survey

Official lists verified on 3 September 2026. We record published terms — this is neither an invitation to open accounts nor a recommendation: lists change, the broker’s documents prevail. Trade Republic, Scalable Capital and Trading 212 publish no per-ISIN lists and don’t appear here.

Stock exchange listings

ExchangeTickerTrading since
Börse DüsseldorfEUNY4 Jul 2016
Börse FrankfurtEUNY4 Jul 2016
Börse HamburgEUNY4 Jul 2016
Börse HannoverEUNY14 Dec 2022
Börse München / gettexEUNY4 Jul 2016
Börse StuttgartEUNY4 Jul 2016
Tradegate ExchangeEUNY4 Jul 2016
Xetra (Deutsche Börse)EUNY4 Jul 2016
+ 15 more trading venues (MTFs and professional platforms).
Trading venues from the official ESMA register (FIRDS); per-exchange tickers from the issuer’s tax documents and official listings. A dash “—” = that venue does not publish the item (ticker, currency or start date) in the sources we read. The same fund may trade in different currencies depending on the exchange: check the trading currency with your broker. Non-EU listings (e.g. UK, Mexico) not included.

Frequently asked questions

Which index does iShares EM Dividend UCITS ETF track?
The issuer iShares declares the benchmark: Dow Jones Emerging Markets Select Dividend Index (USD) CLOSE NTR.
How much does SEDY cost?
The issuer-declared TER is 0.65% per year; the transaction costs estimated in the KID are 0.14%.
How is SEDY taxed in Italy?
On sale, the capital gain is taxed at an effective 26.00% rate (white-list share 0.00%): 12.5% on the government-bond “white list” portion, 26% on the rest.
What is the fund size of SEDY?
The fund size declared by iShares is about 1.3 billion euro.
When was SEDY launched?
The fund was launched on 25 November 2011: it has 14 years of history.
How does SEDY replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Fisica (dal KID)”).
Does SEDY pay dividends?
Yes: it is a distributing share class — income is paid out periodically (issuer wording: “Distributing”).
Where does SEDY trade?
Per the official ESMA register it trades on 8 main exchanges, including Börse Düsseldorf (EUNY), Börse Frankfurt (EUNY), Börse Hamburg (EUNY), Börse Hannover (EUNY), Börse München / gettex (EUNY), Börse Stuttgart (EUNY).
What was SEDY's worst fall?
Over the available history (since 2011), the maximum drawdown was -61.13%, reached in September 2022. Past performance is not indicative of future results.
What is SEDY's tracking difference?
Over the last 3 complete calendar years the fund returned on average -0.65% per year versus its index (from issuer-declared series).
How many securities does SEDY hold?
The declared portfolio holds 115 securities (plus 51 cash & derivative lines); the top 10 positions weigh 28%.
Transparency note
The data in this sheet is declared by iShares in the issuer’s official files and endpoints, collected by Rebalix with a monthly refresh; taxation derives from the issuer’s tax documents (Italian Law Decree 138/2011). This is factual information for informational purposes only: it is not financial or tax advice, nor an investment recommendation. Read the fund’s KID and prospectus before investing.