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EMIM

Acc

iShares Core MSCI Emerging Markets IMI UCITS ETF (Accumulating)

0.18%

TER per year

Issuer

BlackRock (iShares)

Index

MSCI Emerging Markets IMI

AUM

~€20B

Domicile

Ireland

Currency

USD

Replication

optimised

ISIN

IE00BKM4GZ66

Since

2014

Etfora Verdict

The standard emerging markets building block for European investors. Pairs naturally with IWDA for a two-fund global portfolio. The IMI version gives slightly broader coverage than non-IMI alternatives at the same cost.

What Is EMIM?

EMIM provides broad emerging markets exposure across approximately 3,000 stocks in 24 countries including China, India, Taiwan, South Korea, and Brazil. The 'IMI' designation means it includes small-cap stocks that standard EM indices miss. Most commonly used as the satellite holding in a two-fund portfolio alongside IWDA.

The MSCI Emerging Markets IMI Index

The MSCI Emerging Markets Investable Market Index covers large, mid, and small-cap stocks across 24 emerging market countries. China and India together represent approximately 40% of the index. Taiwan Semiconductor, Samsung, and Tencent are typical top holdings.

US equivalent blocked in Europe

VWO (Vanguard FTSE Emerging Markets ETF)

EMIM uses the MSCI EM IMI index which includes small-cap stocks that VWO's FTSE equivalent covers differently. For European investors blocked from VWO by PRIIPs, EMIM is the closest UCITS alternative with broader coverage.

Why it works for European investors

  • Ireland domicile provides tax treaty benefits on US-origin dividends within the fund
  • Accumulating structure reinvests dividends automatically
  • Available on most European brokers including DEGIRO core selection
  • IMI version includes small-cap emerging market stocks for broader coverage
  • Low TER of 0.18% is competitive for emerging markets exposure

Things to know

  • Emerging markets are more volatile than developed markets — expect larger drawdowns
  • China concentration (~25%) means significant exposure to Chinese regulatory risk
  • Currency risk: underlying stocks are in local EM currencies
  • Standard portfolio allocation for EM is 10–20% of total equity allocation
  • Can be paired with IWDA in roughly 88:12 ratio to approximate VWCE

Tax Notes by Country

NL

Same Box 3 treatment as all ETFs. No specific advantage over distributing equivalent.

DE

Qualifies for 30% Teilfreistellung as equity ETF.

BE

TOB rate 0.12% for accumulating Irish UCITS.

Not tax advice. Verify with a local tax adviser for your specific situation.

Available On

Trading 212DEGIROInteractive BrokersXTBtrade-republic
→ Find the best broker for your country and investment size

Alternatives to Consider

XMMEXtrackers MSCI Emerging Markets Swap UCITS ETF0.18% TER

Synthetic replication. Same cost. May suit certain tax structures.

VFEMVanguard FTSE Emerging Markets UCITS ETF0.22% TER

FTSE index instead of MSCI. Different country classifications (South Korea).

Find the right broker for EMIM

Check which brokers offer EMIM in your country and at what cost.

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Data based on publicly available information. TER and AUM figures are approximate. Verify current fund data at the issuer's website before investing.