Index
Funds that track the MSCI EM (Emerging Markets) Small Cap
2 UK-listed funds Fundology covers track the MSCI EM (Emerging Markets) Small Cap. Ongoing charges run from 0.55% (EMSM) to 0.74% a year, as of 09/10/2026.
At a glance
- Funds
- 2
- Providers
- 2
- Ongoing charges
- 0.55% to 0.74%
- Accumulating · distributing
- 1 · 1
The lowest ongoing charge among the 2 MSCI EM (Emerging Markets) Small Cap funds Fundology tracks is 0.55% a year (EMSM), as of 09/10/2026. A lower charge does not guarantee a better return.
1 accumulate their income and 1 pay it out. Each fund is listed once, by one share class; its other share classes are on its own page.
By fund size, the 2 largest are EMSM (£371m) and IEMS (£197m), as reported on 09/10/2026. Size shows how widely a fund is held, not how it will perform.
Terms:Index fundsOngoing charges figureTracking differenceAccumulating or incomeCurrency hedging
Past returns, side by side
Over the five years to 09/10/2026, total returns with income reinvested ranged from +47.6% (IEMS) to +47.8% (EMSM); the median of 2 funds was +47.7%.
Over the three years to 09/10/2026, total returns with income reinvested ranged from +42.4% (IEMS) to +42.6% (EMSM); the median of 2 funds was +42.5%.
Over the year to 09/10/2026, total returns with income reinvested ranged from +15.7% (EMSM) to +15.8% (IEMS); the median of 2 funds was +15.7%.
| Period | Funds | Lowest | Median | Highest |
|---|---|---|---|---|
| 1 yearIncome reinvested · to | 2 | +15.7% EMSM | +15.7% | +15.8% IEMS |
| 3 yearsIncome reinvested · to | 2 | +42.4% IEMS | +42.5% | +42.6% EMSM |
| 5 yearsIncome reinvested · to | 2 | +47.6% IEMS | +47.7% | +47.8% EMSM |
Source: TradingView reported returns, and Fundology’s own from daily closes where none is reported, as of
How we work it out:ReturnsReturns after inflationTotal return
Funds that track the MSCI EM (Emerging Markets) Small Cap (2)
All 2 funds that track the MSCI EM (Emerging Markets) Small Cap, one share class each, listed by name. An order is not a ranking of quality.
| Fund | Charge | Size | 1 year | 3 years | 5 years | 5 years after inflation |
|---|---|---|---|---|---|---|
| IEMS iShares MSCI EM Small Cap UCITS ETFDistributing | 0.74% | £197m | +15.8% | +42.4% | +47.6% | +15.3% |
| EMSM State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF Accum USDAccumulating | 0.55% | £371m | +15.7% | +42.6% | +47.8% | +15.5% |
Source: TradingView (returns, size and most charges), fund issuers (some charges), ONS CPIH (inflation), as of , at least 15 min delayed
Questions people ask
How many UK funds track the MSCI EM (Emerging Markets) Small Cap?
2 UK-listed funds Fundology covers track the MSCI EM (Emerging Markets) Small Cap, as of 09/10/2026. 1 accumulate their income and 1 pay it out. They come from 2 providers: iShares (1), SPDR (1). Each fund is listed once, by one share class; its other share classes are on its own page.
Which MSCI EM (Emerging Markets) Small Cap fund has the lowest ongoing charge?
The lowest ongoing charge among the 2 MSCI EM (Emerging Markets) Small Cap funds Fundology tracks is 0.55% a year (EMSM), as of 09/10/2026. A lower charge does not guarantee a better return.
What is the largest MSCI EM (Emerging Markets) Small Cap fund in the UK?
By fund size, EMSM (State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF Accum USD) is the largest of the 2 funds here, at £371m as reported on 09/10/2026. Size shows how widely a fund is held, not how it will perform.
What is the difference between the accumulating and distributing versions?
An accumulating share class reinvests the income from its holdings inside the fund, so it shows up as a rising price; a distributing class pays it out to holders as cash, usually a few times a year. Of the 2 MSCI EM (Emerging Markets) Small Cap funds here, 1 accumulate and 1 distribute.
How is this list ordered?
Listed by name unless ordered by ongoing charge. No order on this page is a ranking or a recommendation.