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AVSE vs. DEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AVSE vs. DEM

Last updated Aug 4, 2026
Documentation

AVSE (Avantis Responsible Emerging Markets Equity ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both exchange-traded funds - AVSE is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Index, while DEM is a Dividend fund tracking the WisdomTree Emerging Markets Equity Income Index. Both are passively managed. Over the past 3 years, AVSE returned 20.73%/yr vs 17.15%/yr for DEM. Their correlation of 0.87 means they have usually moved in the same direction. AVSE charges 0.33%/yr vs 0.63%/yr for DEM.

Performance

AVSE vs. DEM - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with AVSE having a 17.48% return and DEM slightly higher at 17.69%.

AVSE

1D
1.03%
1M
-2.96%
6M
8.96%
YTD
17.48%
1Y
32.99%
3Y*
20.73%
5Y*
—
10Y*
—
ALL TIME*
12.59%

DEM

1D
0.52%
1M
1.12%
6M
10.61%
YTD
17.69%
1Y
25.38%
3Y*
17.15%
5Y*
10.09%
10Y*
9.05%
ALL TIME*
4.95%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

AVSE

Avantis Responsible Emerging Markets Equity ETF
$1.09M$1.10M$1.10M

DEM

WisdomTree Emerging Markets Equity Income Fund
$8.16M$9.32M$10.88M

AVSE vs. DEM - Yearly Performance Comparison

2026 (YTD)2025202420232022
AVSE
Avantis Responsible Emerging Markets Equity ETF		17.48%32.54%8.29%16.01%-14.43%
DEM
WisdomTree Emerging Markets Equity Income Fund		17.69%21.29%4.46%20.93%-11.96%

Correlation

The correlation between AVSE and DEM is 0.84, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.84

Correlation (3Y)
Balances recent behavior with more history.

0.86

Correlation (All Time)
Calculated using the full available price history since Mar 30, 2022

0.87

The correlation between AVSE and DEM has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

AVSE vs. DEM - Sectors Allocation Comparison

Sectors
AVSE
DEM

Technology

44.0%
17.5%

Financial Services

22.8%
21.9%

Consumer Cyclical

9.4%
5.4%

Industrials

6.7%
8.9%

Communication Services

5.4%
3.0%

Healthcare

3.4%
0.6%

Basic Materials

2.7%
3.7%

Consumer Defensive

2.3%
5.8%

Real Estate

2.2%
2.9%

Utilities

1.1%
3.0%

Energy

0.1%
6.2%

Technology

AVSE
44.0%
DEM
17.5%

Financial Services

AVSE
22.8%
DEM
21.9%

Consumer Cyclical

AVSE
9.4%
DEM
5.4%

Industrials

AVSE
6.7%
DEM
8.9%

Communication Services

AVSE
5.4%
DEM
3.0%

Healthcare

AVSE
3.4%
DEM
0.6%

Basic Materials

AVSE
2.7%
DEM
3.7%

Consumer Defensive

AVSE
2.3%
DEM
5.8%

Real Estate

AVSE
2.2%
DEM
2.9%

Utilities

AVSE
1.1%
DEM
3.0%

Energy

AVSE
0.1%
DEM
6.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Avantis Responsible Emerging Markets Equity ETF

WisdomTree Emerging Markets Equity Income Fund

Often compared with AVSE:
AVSE vs. FRDMAVSE vs. AVESAVSE vs. DFESXAVSE vs. DFSEAVSE vs. AVEMAVSE vs. VSGXAVSE vs. VWO
Often compared with DEM:
DEM vs. DVYEDEM vs. EEMDEM vs. FNDEDEM vs. AVEMDEM vs. DGREDEM vs. FEMKXDEM vs. VXUS

Return for Risk

AVSE vs. DEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
AVSE
AVSE Risk / Return Rank: 5656
Overall Rank
AVSE Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
AVSE Sortino Ratio Rank: 5151
Sortino Ratio Rank
AVSE Omega Ratio Rank: 5858
Omega Ratio Rank
AVSE Calmar Ratio Rank: 6161
Calmar Ratio Rank
AVSE Martin Ratio Rank: 5656
Martin Ratio Rank
DEM
DEM Risk / Return Rank: 7575
Overall Rank
DEM Sharpe Ratio Rank: 7272
Sharpe Ratio Rank
DEM Sortino Ratio Rank: 7171
Sortino Ratio Rank
DEM Omega Ratio Rank: 7171
Omega Ratio Rank
DEM Calmar Ratio Rank: 8484
Calmar Ratio Rank
DEM Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AVSE vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible Emerging Markets Equity ETF (AVSE) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

AVSEDEMDifference
Sharpe ratioReturn per unit of total volatility
1.39
1.70

-0.32

Sortino ratioReturn per unit of downside risk
1.91
2.36

-0.45

Omega ratioGain probability vs. loss probability

1.27

1.31

-0.04

Calmar ratioReturn relative to maximum drawdown

2.24

3.23

-0.99

Martin ratioReturn relative to average drawdown

7.01

9.72

-2.71

AVSE vs. DEM - Sharpe Ratio Comparison

The current AVSE Sharpe Ratio is 1.39, which is comparable to the DEM Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of AVSE 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.

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Drawdowns

AVSE vs. DEM - Drawdown Comparison

The maximum AVSE drawdown since its inception was -26.28%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for AVSE and DEM.

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Drawdown Indicators

AVSEDEMDifference

Max Drawdown

Largest peak-to-trough decline

-26.28%

-51.85%

+25.57%

Max Drawdown (1Y)

Largest decline over 1 year

-14.82%

-7.89%

-6.93%

Max Drawdown (3Y)

Largest decline over 3 years

-17.68%

-15.64%

-2.04%

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

-10.34%

-3.06%

-7.28%

Average Drawdown

Average peak-to-trough decline

-6.82%

-12.82%

+6.00%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.72%

2.62%

+2.10%

Volatility

AVSE vs. DEM - Volatility Comparison

Avantis Responsible Emerging Markets Equity ETF (AVSE) has a higher volatility of 9.16% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.13%. This indicates that AVSE'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.

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Volatility by Period

AVSEDEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.16%

5.13%

+4.03%

Volatility (6M)

Calculated over the trailing 6-month period

21.85%

13.19%

+8.66%

Volatility (1Y)

Calculated over the trailing 1-year period

23.98%

15.02%

+8.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.05%

15.61%

+3.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.05%

17.86%

+1.19%

AVSE vs. DEM - Expense Ratio Comparison

AVSE has a 0.33% expense ratio, which is lower than DEM's 0.63% expense ratio.

Dividends

AVSE vs. DEM - Dividend Comparison

AVSE's dividend yield for the trailing twelve months is around 2.14%, less than DEM's 4.16% yield.

PositionTTM20252024202320222021202020192018201720162015
AVSE
Avantis Responsible Emerging Markets Equity ETF		2.14%2.68%3.03%3.20%1.27%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
DEM
WisdomTree Emerging Markets Equity Income Fund		4.16%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

AVSE and DEM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AVSE has higher volatility (9.16%) compared to DEM (5.13%). In terms of maximum drawdown, AVSE dropped -26.28% vs DEM's -51.85%.

On 3-year performance, AVSE leads with 20.73% vs 17.15% for DEM. On fees, AVSE is cheaper at 0.33% per year. On volatility, DEM has been the lower-risk option at 5.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, AVSE has performed better with a 20.73% return vs 17.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AVSE is cheaper with a 0.33% expense ratio, compared with 0.63% for DEM.

DEM has the higher dividend yield at 4.16%, compared with 2.14% for AVSE.

AVSE is categorized as Emerging Markets Equities, while DEM is Dividend. AVSE tracks MSCI Emerging Markets Index, while DEM tracks WisdomTree Emerging Markets Equity Income Index. They also come from different issuers: Avantis and WisdomTree. Their fees differ too: 0.33% for AVSE and 0.63% for DEM.

DEM currently has the higher Sharpe Ratio (1.70 vs 1.39), 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.

Portfolio Optimizer

Find the right allocation for AVSE and DEM

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