AVES vs. DEM

Last updated Jun 4, 2026

AVES (Avantis Emerging Markets Value ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds. AVES is actively managed, while DEM is passively managed. Over the past 3 years, AVES returned 20.73%/yr vs 19.32%/yr for DEM. Their correlation of 0.90 suggests significant overlap in exposure. AVES charges 0.36%/yr vs 0.63%/yr for DEM.

Performance

AVES vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Emerging Markets Value ETF (AVES) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVES achieves a 16.79% return, which is significantly lower than DEM's 19.97% return.

AVES

• 1D: -1.23%
• 1M: 4.98%
• YTD: 16.79%
• 6M: 19.15%
• 1Y: 37.50%
• 3Y*: 20.73%
• 5Y*: —
• 10Y*: —

DEM

• 1D: -1.19%
• 1M: 6.63%
• YTD: 19.97%
• 6M: 20.75%
• 1Y: 32.23%
• 3Y*: 19.32%
• 5Y*: 9.57%
• 10Y*: 10.45%

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

AVES vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVES Avantis Emerging Markets Value ETF	16.79%	30.49%	4.50%	16.79%	-16.04%	1.32%
DEM WisdomTree Emerging Markets Equity Income Fund	19.97%	21.29%	4.46%	20.93%	-10.43%	0.99%

Correlation

The correlation between AVES and DEM is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021	0.90

The correlation between AVES and DEM has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

AVES vs. DEM - Sectors Allocation Comparison

Sectors	AVES	DEM
Financial Services	25.3%	21.9%
Technology	21.4%	17.4%
Industrials	13.3%	9.5%
Basic Materials	9.8%	3.5%
Consumer Cyclical	9.6%	5.0%
Communication Services	5.3%	3.0%
Energy	4.0%	6.1%
Consumer Defensive	3.2%	5.8%
Real Estate	2.4%	3.0%
Healthcare	2.1%	0.6%
Utilities	1.7%	3.0%

Return for Risk

AVES vs. DEM — Risk / Return Rank

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

AVES

AVES Risk / Return Rank: 61
AVES Sharpe Ratio Rank: 64
AVES Sortino Ratio Rank: 60
AVES Omega Ratio Rank: 65
AVES Calmar Ratio Rank: 58
AVES Martin Ratio Rank: 60

DEM

DEM Risk / Return Rank: 74
DEM Sharpe Ratio Rank: 72
DEM Sortino Ratio Rank: 71
DEM Omega Ratio Rank: 71
DEM Calmar Ratio Rank: 79
DEM Martin Ratio Rank: 75

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.

AVES vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets Value ETF (AVES) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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.

	AVES	DEM	Difference
Sharpe ratio Return per unit of total volatility	2.19	2.38	-0.19
Sortino ratio Return per unit of downside risk	2.90	3.28	-0.39
Omega ratio Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio Return relative to maximum drawdown	2.92	4.10	-1.18
Martin ratio Return relative to average drawdown	10.84	14.52	-3.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVES vs. DEM - Sharpe Ratio Comparison

The current AVES Sharpe Ratio is 2.19, which is comparable to the DEM Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of AVES and DEM, 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

	AVES	DEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.38	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.22	+0.39

Drawdowns

AVES vs. DEM - Drawdown Comparison

The maximum AVES drawdown since its inception was -27.40%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for AVES and DEM.

Drawdown Indicators

	AVES	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-27.40%	-51.85%	+24.45%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-7.89%	-5.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.50%	-15.64%	-2.86%
Max Drawdown (5Y) Largest decline over 5 years	—	-27.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.79%	—
Current Drawdown Current decline from peak	-1.36%	-1.19%	-0.17%
Average Drawdown Average peak-to-trough decline	-7.73%	-12.90%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	2.22%	+1.25%

Volatility

AVES vs. DEM - Volatility Comparison

Avantis Emerging Markets Value ETF (AVES) has a higher volatility of 6.93% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.64%. This indicates that AVES's price experiences larger fluctuations and is considered to be riskier than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVES	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.93%	5.64%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	14.44%	11.33%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	13.59%	+3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	15.33%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	17.96%	-0.98%

AVES vs. DEM - Expense Ratio Comparison

AVES has a 0.36% expense ratio, which is lower than DEM's 0.63% expense ratio.

Dividends

AVES vs. DEM - Dividend Comparison

AVES's dividend yield for the trailing twelve months is around 2.81%, less than DEM's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVES Avantis Emerging Markets Value ETF	2.81%	3.17%	4.09%	3.96%	3.70%	0.62%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DEM WisdomTree Emerging Markets Equity Income Fund	3.76%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%

Frequently Asked Questions

Can I hold both AVES and DEM in my portfolio?

AVES and DEM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVES or DEM?

AVES has higher volatility (6.93%) compared to DEM (5.64%). In terms of maximum drawdown, AVES dropped -27.40% vs DEM's -51.85%.

Which ETF is better, AVES or DEM?

On 3-year performance, AVES leads with 20.73% vs 19.32% for DEM. On fees, AVES is cheaper at 0.36% per year. On volatility, DEM has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVES or DEM?

Over the 3-year period, AVES has performed better with a 20.73% return vs 19.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVES or DEM?

AVES is cheaper with a 0.36% expense ratio, compared with 0.63% for DEM.

Which ETF pays a higher dividend yield, AVES or DEM?

DEM has the higher dividend yield at 3.76%, compared with 2.81% for AVES.

What is the main difference between AVES and DEM?

They also come from different issuers: American Century and WisdomTree. Their fees differ too: 0.36% for AVES and 0.63% for DEM.

Which has better risk-adjusted returns?

DEM currently has the higher Sharpe Ratio (2.38 vs 2.19), 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.