iShares MSCI vs E127
IE00B4L5YC18iSharesLU2573966905AmundiThe comparison in short
iShares MSCI (iShares MSCI EM UCITS ETF USD (Acc), IE00B4L5YC18) and E127 (Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist, LU2573966905) both track the MSCI Emerging Markets index. E127 has the lower total expense ratio (TER): 0.14% a year against 0.18% for iShares MSCI, 0.04 percentage points less, or about 4 a year on 10,000 invested. E127 is the larger fund, with USD 12.5bn in assets against USD 10.8bn for iShares MSCI. iShares MSCI reports 785 holdings and E127 372. E127 replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured. In 2025, iShares MSCI returned +33.8% and E127 +33.9%, a gap of 0.1 percentage points. Over 3 years, iShares MSCI returned +24.3% a year and E127 +24.2% a year. iShares MSCI reinvests its income (accumulating), while E127 pays it out (distributing). iShares MSCI holds the index securities directly (physical replication), while E127 replicates its index through a swap (synthetic). iShares MSCI is domiciled in Ireland and E127 in Luxembourg. iShares MSCI and E127 both carry a risk indicator (SRRI) of 4 on the 1–7 scale. This is a factual comparison from the fund houses' documents, not investment advice.
Side by side
| Figure | iShares MSCI | E127 |
|---|---|---|
| ISIN | IE00B4L5YC18 | LU2573966905 |
| Exchange tickers | — | E127, U127, AE5A |
| Fund house | iShares | Amundi |
| Total expense ratio (TER) | 0.18% | 0.14% |
| Ongoing charges (KID) | 0.18% | 0.14% |
| Fund size | USD 10.8bn | USD 12.5bn |
| Launch date | September 25, 2009 | March 24, 2023 |
| Replication | Physical | Synthetic (swap) |
| Domicile | Ireland | Luxembourg |
| Distribution policy | Accumulating | Distributing |
| Share class currency | USD | USD |
| Number of holdings | 785 | 372 |
| Risk indicator (SRRI) | 4 / 7 | 4 / 7 |
| SFDR classification | Article 6 | — |
| Benchmark | MSCI Emerging Markets Index (Net) | MSCI Emerging Markets Net Total Return USD Index |
Performance
Calendar-year returns
| Year | iShares MSCI | E127 | Difference |
|---|---|---|---|
| 2025 | +33.8% | +33.9% | −0.1 |
| 2024 | +7.6% | +7.6% | 0.0 |
Annualised returns
| Period | iShares MSCI | E127 | Difference |
|---|---|---|---|
| 1 year | +27.3% | +29.4% | −2.1 |
| 3 years | +24.3% | +24.2% | +0.1 |
Holdings
E127 replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.
Top 10 holdings of iShares MSCI
| # | Holding | Weight |
|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFACTURING | 15.84% |
| 2 | SAMSUNG ELECTRONICS LTD | 7.59% |
| 3 | SK HYNIX | 5.99% |
| 4 | ISH MSCI CHINA A ETF USD ACC | 3.26% |
| 5 | TENCENT HOLDINGS | 2.63% |
| 6 | ISHARES MSCI BRAZIL UCITS ET USDHA | 2.23% |
| 7 | MEDIATEK | 1.88% |
| 8 | ALIBABA GROUP HOLDING | 1.79% |
| 9 | DELTA ELECTRONICS | 0.98% |
| 10 | SAMSUNG ELECTRONICS NON VOTING PRE | 0.94% |
Top 10 holdings of E127
E127 replicates its index through a swap: the securities it publishes are the collateral basket behind the swap, not the index, so they are not compared.| # | Holding | Weight |
|---|---|---|
| 1 | AMAZON.COM INC | 5.63% |
| 2 | APPLE INC | 4.23% |
| 3 | ALPHABET INC CL C | 3.99% |
| 4 | NVIDIA CORP | 3.65% |
| 5 | ADVANCED MICRO DEVICES | 3.51% |
| 6 | APPLIED MATERIALS INC | 3.48% |
| 7 | MICROSOFT CORP | 2.88% |
| 8 | INTEL CORP | 2.21% |
| 9 | BROADCOM INC | 1.94% |
| 10 | TESLA INC | 1.82% |
Sectors and countries
Largest sectors of iShares MSCI
- 43.2%
- 22.7%
- 7.0%
- 5.7%
- 5.7%
- 5.1%
Largest sectors of E127
- 43.8%
- 19.4%
- 7.4%
- 6.3%
- 5.9%
- 5.8%
Largest countries of iShares MSCI
- 28.9%
- 21.8%
- 15.9%
- 10.4%
- 5.8%
- 3.3%
Largest countries of E127
- 28.9%
- 21.4%
- 19.8%
- 10.7%
- 4.1%
- 2.9%
Frequently asked questions
What is the difference between iShares MSCI and E127?
iShares MSCI (iShares MSCI EM UCITS ETF USD (Acc), IE00B4L5YC18) and E127 (Amundi Core MSCI Emerging Markets Swap UCITS ETF Dist, LU2573966905) both track the MSCI Emerging Markets index. E127 has the lower total expense ratio (TER): 0.14% a year against 0.18% for iShares MSCI, 0.04 percentage points less, or about 4 a year on 10,000 invested. iShares MSCI reinvests its income (accumulating), while E127 pays it out (distributing). iShares MSCI holds the index securities directly (physical replication), while E127 replicates its index through a swap (synthetic). iShares MSCI is domiciled in Ireland and E127 in Luxembourg. This is a factual comparison from the fund houses' documents, not investment advice.Which is cheaper, iShares MSCI or E127?
E127 has the lower total expense ratio (TER): 0.14% a year against 0.18% for iShares MSCI, 0.04 percentage points less, or about 4 a year on 10,000 invested. Their key information documents state ongoing charges of 0.18% for iShares MSCI and 0.14% for E127.Which is bigger, iShares MSCI or E127?
E127 is the larger fund, with USD 12.5bn in assets against USD 10.8bn for iShares MSCI.Do iShares MSCI and E127 hold the same companies?
E127 replicates its index through a swap and publishes the collateral basket behind it, so the holdings overlap is not measured.How did iShares MSCI and E127 perform in 2025?
In 2025, iShares MSCI returned +33.8% and E127 +33.9%, a gap of 0.1 percentage points. Over 3 years, iShares MSCI returned +24.3% a year and E127 +24.2% a year. Over the past year, iShares MSCI returned +27.3% and E127 +29.4%. Past performance does not predict future returns.Are iShares MSCI and E127 accumulating or distributing?
iShares MSCI is accumulating: it reinvests its income in the fund. E127 is distributing: it pays its income out to investors.Go further
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