AIA vs. EMDM

Last updated Jun 4, 2026

AIA (iShares Asia 50 ETF) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both exchange-traded funds - AIA is a Asia Pacific Equities fund tracking the S&P Asia 50, while EMDM is a Emerging Markets Diversified fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, AIA returned 38.58%/yr vs 32.95%/yr for EMDM. Their correlation of 0.82 suggests significant overlap in exposure. AIA charges 0.50%/yr vs 0.75%/yr for EMDM.

Performance

AIA vs. EMDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Asia 50 ETF (AIA) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIA achieves a 52.67% return, which is significantly higher than EMDM's 39.03% return.

AIA

• 1D: -1.19%
• 1M: 18.04%
• YTD: 52.67%
• 6M: 57.46%
• 1Y: 100.69%
• 3Y*: 38.58%
• 5Y*: 12.42%
• 10Y*: 15.48%

EMDM

• 1D: -1.32%
• 1M: 11.04%
• YTD: 39.03%
• 6M: 45.21%
• 1Y: 91.32%
• 3Y*: 32.95%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AIA vs. EMDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AIA iShares Asia 50 ETF	52.67%	47.79%	20.26%	-2.69%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	39.03%	59.68%	-4.93%	14.21%

Correlation

The correlation between AIA and EMDM is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Mar 6, 2023	0.82

The correlation between AIA and EMDM has been stable across timeframes, ranging from 0.82 to 0.85 - a consistent structural relationship.

AIA vs. EMDM - Sectors Allocation Comparison

Sectors	AIA	EMDM
Technology	56.8%	32.1%
Financial Services	19.3%	27.2%
Consumer Cyclical	10.1%	6.0%
Communication Services	8.9%	4.3%
Industrials	2.6%	3.3%
Healthcare	0.9%	0.5%
Energy	0.7%	6.3%
Real Estate	0.6%	-
Basic Materials	-	15.1%
Consumer Defensive	-	3.4%
Utilities	-	1.9%

Return for Risk

AIA vs. EMDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AIA

AIA Risk / Return Rank: 93
AIA Sharpe Ratio Rank: 95
AIA Sortino Ratio Rank: 92
AIA Omega Ratio Rank: 92
AIA Calmar Ratio Rank: 94
AIA Martin Ratio Rank: 94

EMDM

EMDM Risk / Return Rank: 93
EMDM Sharpe Ratio Rank: 95
EMDM Sortino Ratio Rank: 92
EMDM Omega Ratio Rank: 93
EMDM Calmar Ratio Rank: 91
EMDM Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AIA vs. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Asia 50 ETF (AIA) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AIA	EMDM	Difference
Sharpe ratio: Return per unit of total volatility	3.94	3.92	+0.02
Sortino ratio: Return per unit of downside risk	4.57	4.56	+0.01
Omega ratio: Gain probability vs. loss probability	1.64	1.66	-0.02
Calmar ratio: Return relative to maximum drawdown	7.16	5.87	+1.29
Martin ratio: Return relative to average drawdown	26.55	24.30	+2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AIA vs. EMDM - Sharpe Ratio Comparison

The current AIA Sharpe Ratio is 3.94, which is comparable to the EMDM Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of AIA and EMDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AIA	EMDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.94	3.92	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	1.58	-1.26

Drawdowns

AIA vs. EMDM - Drawdown Comparison

The maximum AIA drawdown since its inception was -60.89%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for AIA and EMDM.

Drawdown Indicators

	AIA	EMDM	Difference
Max Drawdown Largest peak-to-trough decline	-60.89%	-18.81%	-42.08%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-15.65%	+1.50%
Max Drawdown (3Y) Largest decline over 3 years	-21.64%	-18.81%	-2.83%
Max Drawdown (5Y) Largest decline over 5 years	-50.17%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-54.64%	—	—
Current Drawdown Current decline from peak	-1.19%	-1.32%	+0.13%
Average Drawdown Average peak-to-trough decline	-16.68%	-4.07%	-12.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	3.77%	+0.04%

Volatility

AIA vs. EMDM - Volatility Comparison

iShares Asia 50 ETF (AIA) has a higher volatility of 11.22% compared to First Trust Bloomberg Emerging Market Democracies ETF (EMDM) at 9.61%. This indicates that AIA's price experiences larger fluctuations and is considered to be riskier than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIA	EMDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.22%	9.61%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	21.71%	20.78%	+0.93%
Volatility (1Y) Calculated over the trailing 1-year period	25.70%	23.42%	+2.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.51%	19.79%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.55%	19.79%	+3.76%

AIA vs. EMDM - Expense Ratio Comparison

AIA has a 0.50% expense ratio, which is lower than EMDM's 0.75% expense ratio.

Dividends

AIA vs. EMDM - Dividend Comparison

AIA's dividend yield for the trailing twelve months is around 1.64%, less than EMDM's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIA iShares Asia 50 ETF	1.64%	2.50%	2.78%	2.07%	2.59%	1.54%	1.11%	2.24%	2.49%	1.45%	2.29%	2.88%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	2.57%	3.57%	5.87%	2.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AIA and EMDM in my portfolio?

AIA and EMDM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIA or EMDM?

AIA has higher volatility (11.22%) compared to EMDM (9.61%). In terms of maximum drawdown, AIA dropped -60.89% vs EMDM's -18.81%.

Which ETF is better, AIA or EMDM?

On 3-year performance, AIA leads with 38.58% vs 32.95% for EMDM. On fees, AIA is cheaper at 0.50% per year. On volatility, EMDM has been the lower-risk option at 9.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AIA or EMDM?

Over the 3-year period, AIA has performed better with a 38.58% return vs 32.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AIA or EMDM?

AIA is cheaper with a 0.50% expense ratio, compared with 0.75% for EMDM.

Which ETF pays a higher dividend yield, AIA or EMDM?

EMDM has the higher dividend yield at 2.57%, compared with 1.64% for AIA.

What is the main difference between AIA and EMDM?

AIA is categorized as Asia Pacific Equities, while EMDM is Emerging Markets Diversified. AIA tracks S&P Asia 50, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.50% for AIA and 0.75% for EMDM.

Which has better risk-adjusted returns?

AIA currently has the higher Sharpe Ratio (3.94 vs 3.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.