← Search another ETF⎙ Printable sheet (PDF)
ETF sheet · Issuer-declared data
🇮🇹 Effective capital-gains rate: 26.00%details →

iShares Core MSCI EM IMI UCITS ETFIndex, costs, backtest, listings and taxation

ISIN: IE00BKM4GZ66Ticker: EIMI (Borsa Italiana) · IS3N (Xetra) · EMIM (London SE) · EMIM (Euronext AMS) · EIMI (SIX)Issuer: iShares
Issuer-declared data
Declared index
MSCI Emerging Markets IMI Index (Net)
TER
0.18%
Transaction costs
0.04% (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
38.7 bn EUR
NAV
55.46 USD (1 September 2026)
Domicile
Ireland
Inception date
30 May 2014
Data as declared by iShares in the issuer’s official files and endpoints · collected on 2 September 2026 (monthly refresh). Facts only, no recommendation.
📬 Follow the engine as we build it

One email when new issuers, new metrics and new articles land. Double opt-in, zero spam, one-click unsubscribe.

Description

iShares Core MSCI EM IMI UCITS ETF tracks the issuer-declared index: MSCI Emerging Markets IMI Index (Net). The declared annual cost (TER) is 0.18%, plus 0.04% 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 accumulated and reinvested in the fund. The fund has assets of about 38.7 billion euro, was launched on 30 May 2014 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 MSCI Emerging Markets Investable Market Index (IMI), the Fund’s benchmark index (Index). The Share Class, via the Fund is passively managed and aims to invest so far as possible and practicable in the equity securities (e.g. shares) that make up the Index. The Index measures the performance of large, mid and small-cap sectors (i.e. companies with large, mid and small market capitalisation) within the equity markets in emerging markets which comply with MSCI’s size, liquidity and free float criteria. Companies are included in the Index based on the proportion of their shares in issue that are available for purchase by international investors. Securities that are liquid means that they can be easily bought or sold in the market in normal market conditions. The Fund intends to replicate the Index by holding the equity securities, which make up the Index, in similar proportions to it. The investment manager may use 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 the 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 The Bank of New York Mellon SA/NV, Dublin Branch. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares 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 accumulating shares (i.e. income will be included in their value). 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 0.18%: below the median of equity ETFs we track (0.22%).
  • Assets larger than 99% of equity ETFs we track.
  • Average tracking difference over the last 3 years: +0.08% p.a., against a declared TER of 0.18%.
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 May 2014 to Sept 2026
Compare with another ETF
Only funds we hold a history for. Three at a time, at most.
Return
+120.6%
Annualised
+6.7%
Volatility (ann.)
16.3%
Max drawdown
-38.57%
-32%+11%+54%+96%+139%May 2014Jun 2017Jul 2020Aug 2023Sept 2026The break-even line: the value at the start of the period. Above it you are in gain, below in loss.break-even (0%)+121%May 2014Sept 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%2014201620182020202220242026−38.57% · 23 Mar 2020
Max drawdown
-38.57%
peak → trough
Trough
23 Mar 2020
from the 26 Jan 2018 peak
Recovery time
238 days
recovery only: trough to break-even · ≈ 8 months
Underwater
1,025 days
decline + recovery: peak to break-even · ≈ 2 years and 10 months · → recovered on 16 Nov 2020

The five worst falls in the period

From the peak ofTroughDepthBack to break-evenDays underwater
26 Jan 201823 Mar 2020-38.57%16 Nov 20201,025
17 Feb 202124 Oct 2022-36.88%17 Jul 20251,611
03 Sept 201421 Jan 2016-34.80%13 Jul 20171,044
26 Feb 202631 Mar 2026-13.28%21 Apr 202654
22 Jun 202629 Jul 2026-13.01%ongoing72

Calendar-year returns

2016
9.6%
2017
37.0%
2018
-14.9%
2019
17.5%
2020
18.3%
2021
-0.2%
2022
-19.8%
2023
11.6%
2024
7.2%
2025
31.6%
2026
21.5%

Month-by-month returns

JanFebMarAprMayJunJulAugSeptOctNovDecYear
20268.75.3-12.814.58.8-1.6-3.54.1-1.021.5
20251.10.00.51.54.86.01.81.66.43.9-2.32.731.6
2024-4.34.51.90.90.63.90.31.76.2-4.3-3.4-0.37.2
20237.6-6.02.7-0.9-1.34.06.3-5.6-2.5-4.08.24.011.6
2022-2.2-3.8-0.7-5.50.2-7.10.10.6-11.5-2.714.1-1.3-19.8
20212.81.3-1.22.92.30.5-6.12.4-3.70.9-3.92.2-0.2
2020-4.6-5.5-16.29.60.97.58.92.4-1.61.89.77.418.3
20198.40.30.81.9-7.06.0-1.3-4.91.94.2-0.27.317.5
20188.0-4.6-1.9-0.3-3.4-4.42.1-2.6-0.8-8.94.3-2.5-14.9
20175.53.42.52.02.71.05.72.2-0.33.50.33.737.0
2016-6.6-0.112.70.6-3.73.84.92.31.3-0.1-4.60.19.6
20150.62.8-1.37.9-3.7-2.9-7.1-9.0-2.67.0-3.8-1.9-14.4
20142.71.82.4-7.20.8-1.1-4.4-5.3
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.
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 6 of the last 10 calendar years: a past observation, not an indication of future outperformance.
Average TD (last 3 years)
+0.08% /anno
Declared TER
0.18%
YearFundIndexDifference
2025+31.58%+31.37%+0.21%
2024+7.21%+7.09%+0.12%
2023+11.58%+11.67%-0.09%
2022-19.79%-19.83%+0.04%
2021-0.24%-0.28%+0.05%
2020+18.35%+18.39%-0.04%
2019+17.45%+17.64%-0.18%
2018-14.83%-15.04%+0.21%
2017+36.98%+36.84%+0.14%
2016+9.60%+9.89%-0.29%
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.)20.77%16.49%15.85%15.91%16.25%
Max drawdown-13.06%-17.68%-22.31%-32.63%-34.36%
Sharpe1.440.910.430.520.49
Sortino2.101.270.600.720.68
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: 2.20%), 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
2,970
3159 total lines: 189 cash & derivatives
Top-10 weight
32.7%

Top 10 holdings

TAIWAN SEMICONDUCTOR MANUFACTURING · 2330
13.20%
SAMSUNG ELECTRONICS LTD · 005930
6.27%
SK HYNIX · 000660
4.77%
TENCENT HOLDINGS · 700
2.51%
ALIBABA GROUP HOLDING · 9988
1.72%
MEDIATEK · 2454
1.26%
DELTA ELECTRONICS · 2308
0.80%
SAMSUNG ELECTRONICS NON VOTING PRE · 005935
0.77%
CHINA CONSTRUCTION BANK CORP H · 939
0.72%
HON HAI PRECISION INDUSTRY · 2317
0.68%

Sectors

Information Technology
39.4%
Financials
18.6%
Consumer Discretionary
8.0%
Industrials
7.4%
Materials
6.4%
Communication
5.6%
Health Care
3.3%

Countries

AfghanistanAngolaAlbaniaUnited Arab Emirates: 1.1%ArgentinaArmeniaFrench Southern and Antarctic LandsAustraliaAustriaAzerbaijanBurundiBelgiumBeninBurkina FasoBangladeshBulgariaThe BahamasBosnia and HerzegovinaBelarusBelizeBoliviaBrazil: 3.4%BruneiBhutanBotswanaCentral African RepublicCanadaSwitzerlandChile: 0.5%China: 18.4%Ivory CoastCameroonDemocratic Republic of the CongoRepublic of the CongoColombia: 0.2%Costa RicaCubaCyprusCzech Republic: 0.1%Germany: 0.5%DjiboutiDenmarkDominican RepublicAlgeriaEcuadorEgypt: 0.1%EritreaSpainEstoniaEthiopiaFinlandFijiFalkland IslandsFranceGabonUnited KingdomGeorgiaGhanaGuineaGambiaGuinea BissauEquatorial GuineaGreece: 0.6%GreenlandGuatemalaFrench GuianaGuyanaHondurasCroatiaHaitiHungary: 0.3%Indonesia: 0.6%India: 12.2%Ireland: 0.2%IranIraqIcelandIsraelItalyJamaicaJordanJapanKazakhstanKenyaKyrgyzstanCambodiaSouth Korea: 19.9%KosovoKuwait: 0.6%LaosLebanonLiberiaLibyaSri LankaLesothoLithuaniaLuxembourgLatviaMoroccoMoldovaMadagascarMexico: 1.7%MacedoniaMaliMyanmarMontenegroMongoliaMozambiqueMauritaniaMalawiMalaysia: 1.2%NamibiaNew CaledoniaNigerNigeriaNicaraguaNetherlandsNorwayNepalNew ZealandOmanPakistanPanamaPeru: 0.4%Philippines: 0.3%Papua New GuineaPoland: 1.2%Puerto RicoNorth KoreaPortugalParaguayQatar: 0.5%RomaniaRussiaRwandaWestern SaharaSaudi Arabia: 2.3%SudanSouth SudanSenegalSolomon IslandsSierra LeoneEl SalvadorSomaliaRepublic of SerbiaSurinameSlovakiaSloveniaSwedenSwazilandSyriaChadTogoThailand: 1.2%TajikistanTurkmenistanEast TimorTrinidad and TobagoTunisiaTurkeyTaiwan: 27.1%United Republic of TanzaniaUgandaUkraineUruguayUnited States of America: 0.2%UzbekistanVenezuelaVietnamVanuatuWest BankYemenSouth Africa: 3.2%ZambiaZimbabwe
up to 1%1–5%5–15%15–30%over 30%
Hover a country for its percentage.
Top 7 countries
Taiwan27.1%
South Korea19.9%
China18.4%
India12.2%
Brazil3.4%
South Africa3.2%
Saudi Arabia2.3%
Download the full portfolio — Excel, 3,159 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 →

Share classes of the same fund

This page covers ISIN IE00BKM4GZ66. The other classes belong to the same fund but may differ in currency, income policy or currency hedging.
Share classISINTickerIncomeCurrency
USD (Dist)IE00BD45KH83EIMUDistributingUSD
USD (Acc) · this pageIE00BKM4GZ66EIMIAccumulatingUSD
Share classes declared by the issuer in official product lists (same fund = same issuer and same declared name). A dash “—” = not declared — not a zero.

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:

IE00BKM4GZ66EIMI(class: USD (Acc))
  • BG Saxozero within the savings plan (buys)
  • Directazero within the savings plan (buys)
  • Moneyfarmzero within the savings plan (buys), agreement until 31 March 2027
  • Moneyfarmzero on single buys from 1,000 €, agreement until 31 March 2027
  • XTBzero (up to €100,000 monthly volume, unreachable for a retail plan); fractions available in plans
IE00BD45KH83IBC3(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
Borsa Italiana (ETFplus)EIMI24 Jul 2014
Börse DüsseldorfIS3N18 Jun 2014
Börse FrankfurtIS3N4 Jun 2014
Börse HamburgIS3N1 Aug 2016
Börse HannoverIS3N28 Dec 2022
Börse München / gettexIS3N10 Oct 2014
Börse StuttgartIS3N5 Jun 2014
Euronext AmsterdamEMIM2 Jun 2014
Tradegate ExchangeIS3N24 May 2016
Xetra (Deutsche Börse)IS3N4 Jun 2014
+ 21 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 Core MSCI EM IMI UCITS ETF track?
The issuer iShares declares the benchmark: MSCI Emerging Markets IMI Index (Net).
How much does EIMI cost?
The issuer-declared TER is 0.18% per year; the transaction costs estimated in the KID are 0.04%.
How is EIMI 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 EIMI?
The fund size declared by iShares is about 38.7 billion euro.
When was EIMI launched?
The fund was launched on 30 May 2014: it has 12 years of history.
How does EIMI replicate its index?
It is a passively managed ETF: it follows the declared index. Physical (issuer wording: “Fisica (dal KID)”).
Does EIMI pay dividends?
No: it is an accumulating share class — income stays in the fund and is reinvested automatically (issuer wording: “Accumulating”).
Where does EIMI trade?
Per the official ESMA register it trades on 10 main exchanges, including Borsa Italiana (ETFplus) (EIMI), Börse Düsseldorf (IS3N), Börse Frankfurt (IS3N), Börse Hamburg (IS3N), Börse Hannover (IS3N), Börse München / gettex (IS3N).
What was EIMI's worst fall?
Over the available history (since 2014), the maximum drawdown was -38.57%, reached in March 2020. Past performance is not indicative of future results.
What is EIMI's tracking difference?
Over the last 3 complete calendar years the fund returned on average +0.08% per year versus its index (from issuer-declared series).
How many securities does EIMI hold?
The declared portfolio holds 2,970 securities (plus 189 cash & derivative lines); the top 10 positions weigh 32.7%.
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.