EEM vs IAE: Correlation
iShares MSCI Emerging Markets ETF (EEM) and Voya Asia Pacific High Dividend Equity Income Fund ING Asia (IAE) show a strong relationship: their 3-year correlation of weekly returns is 0.75.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EEM and IAE?
Over the past 3 years, EEM and IAE moved with a correlation of 0.75, which is strong. The link has loosened recently: the 1-year correlation (0.64) runs below the 3-year figure (0.75). Over 5 years the correlation is 0.78, and the annualized covariance of weekly returns is 222.6 %².
Within EEM's tracked universe of 67 assets, IAE comes in at #14 by 3-year correlation. Neither side won the trailing year by much: +38.1% against +37.8%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EEM vs IAE: side by side
| EEM (iShares MSCI Emerging Markets ETF) | IAE (Voya Asia Pacific High Dividend Equity Income Fund ING Asia) | |
|---|---|---|
| 1-year return | +38.1% | +37.8% |
| 5-year return | +47.1% | +84.4% |
| Volatility (ann.) | 18.0% | 16.5% |
| Beta vs S&P 500 | 0.85 | 0.72 |
| Max drawdown (3Y) | -17.3% | -16.2% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 3.5 |
| Dividend yield | 1.73% | 0.00% |
| Expense ratio | 0.72% | – |
| Assets under management | $29.2B | – |
| Sector / category | ETF · International | US Listed |
EEM, iShares's Diversified Emerging Mkts fund, carries $29.2B under management, 968 holdings, a 0.72% expense ratio, a 1.73% trailing dividend yield.
Year-by-year returns
| Year | EEM | IAE |
|---|---|---|
| 2022 | -20.6% | -14.0% |
| 2023 | +8.9% | +9.1% |
| 2024 | +6.5% | +13.4% |
| 2025 | +34.0% | +34.6% |
| 2026 | +24.2% | +29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EEM and IAE good diversifiers for each other?
Only partially. A correlation of 0.75 means EEM and IAE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EEM and IAE?
As of 2026-08-27, the correlation of weekly returns between EEM and IAE is 0.75 over 3 years, 0.64 over 1 year and 0.78 over 5 years.
Is IAE a good diversifier for EEM?
Only partially. A correlation of 0.75 means EEM and IAE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.75 mean?
A reading of 0.75 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eem-vs-iae.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eem-vs-iae/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EEM correlations · IAE correlations
