DBEM vs. DVYE

Last updated Jun 5, 2026

DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) and DVYE (iShares Emerging Markets Dividend ETF) are both Emerging Markets Equities funds - DBEM tracks the MSCI EM US Dollar Hedged Index while DVYE tracks the Dow Jones Emerging Markets Select Dividend Index. Both are passively managed. Over the past 10 years, DBEM returned 10.50%/yr vs 7.81%/yr for DVYE. A 0.74 correlation means they provide meaningful diversification when combined. DBEM charges 0.66%/yr vs 0.49%/yr for DVYE.

Performance

DBEM vs. DVYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and iShares Emerging Markets Dividend ETF (DVYE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEM achieves a 30.19% return, which is significantly higher than DVYE's 10.74% return. Over the past 10 years, DBEM has outperformed DVYE with an annualized return of 10.50%, while DVYE has yielded a comparatively lower 7.81% annualized return.

DBEM

• 1D: -1.50%
• 1M: 6.99%
• YTD: 30.19%
• 6M: 33.08%
• 1Y: 59.68%
• 3Y*: 25.33%
• 5Y*: 9.41%
• 10Y*: 10.50%

DVYE

• 1D: 0.23%
• 1M: -2.08%
• YTD: 10.74%
• 6M: 11.14%
• 1Y: 28.60%
• 3Y*: 22.07%
• 5Y*: 4.84%
• 10Y*: 7.81%

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

DBEM vs. DVYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	30.19%	30.42%	10.61%	10.53%	-17.00%	-2.26%	18.12%	16.77%	-10.81%	27.10%
DVYE iShares Emerging Markets Dividend ETF	10.74%	28.36%	8.89%	20.88%	-31.38%	11.02%	-2.51%	15.41%	-5.56%	27.04%

Correlation

The correlation between DBEM and DVYE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 27, 2012	0.75

The correlation between DBEM and DVYE shifts across timeframes, from 0.64 (1 year) to 0.76 (10 years), reflecting how their relationship changes across market environments.

DBEM vs. DVYE - Sectors Allocation Comparison

Sectors	DBEM	DVYE
Technology	36.4%	7.3%
Financial Services	19.6%	28.4%
Consumer Cyclical	9.6%	4.3%
Industrials	7.6%	16.8%
Communication Services	7.0%	1.9%
Basic Materials	6.6%	8.6%
Energy	4.1%	19.1%
Consumer Defensive	3.0%	2.4%
Healthcare	2.9%	-
Utilities	2.1%	7.4%
Real Estate	1.1%	3.7%

Return for Risk

DBEM vs. DVYE — Risk / Return Rank

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

DBEM

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

DVYE

DVYE Risk / Return Rank: 66
DVYE Sharpe Ratio Rank: 61
DVYE Sortino Ratio Rank: 58
DVYE Omega Ratio Rank: 58
DVYE Calmar Ratio Rank: 83
DVYE Martin Ratio Rank: 69

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.

DBEM vs. DVYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and iShares Emerging Markets Dividend ETF (DVYE). 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.

	DBEM	DVYE	Difference
Sharpe ratio: Return per unit of total volatility	3.33	2.01	+1.32
Sortino ratio: Return per unit of downside risk	4.34	2.71	+1.63
Omega ratio: Gain probability vs. loss probability	1.60	1.35	+0.25
Calmar ratio: Return relative to maximum drawdown	5.71	4.42	+1.29
Martin ratio: Return relative to average drawdown	22.69	12.61	+10.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBEM vs. DVYE - Sharpe Ratio Comparison

The current DBEM Sharpe Ratio is 3.33, which is higher than the DVYE Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of DBEM and DVYE, 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

	DBEM	DVYE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	2.01	+1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.29	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.43	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.16	+0.17

Drawdowns

DBEM vs. DVYE - Drawdown Comparison

The maximum DBEM drawdown since its inception was -33.51%, smaller than the maximum DVYE drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for DBEM and DVYE.

Drawdown Indicators

	DBEM	DVYE	Difference
Max Drawdown Largest peak-to-trough decline	-33.51%	-47.42%	+13.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-6.49%	-4.02%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-14.63%	-0.49%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-40.89%	+10.41%
Max Drawdown (10Y) Largest decline over 10 years	-33.51%	-40.89%	+7.38%
Current Drawdown Current decline from peak	-2.18%	-3.83%	+1.65%
Average Drawdown Average peak-to-trough decline	-11.69%	-15.37%	+3.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.64%	2.27%	+0.37%

Volatility

DBEM vs. DVYE - Volatility Comparison

Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) has a higher volatility of 7.65% compared to iShares Emerging Markets Dividend ETF (DVYE) at 5.48%. This indicates that DBEM's price experiences larger fluctuations and is considered to be riskier than DVYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEM	DVYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	5.48%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	11.61%	+4.02%
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	14.32%	+3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.09%	16.99%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	18.39%	-1.25%

DBEM vs. DVYE - Expense Ratio Comparison

DBEM has a 0.66% expense ratio, which is higher than DVYE's 0.49% expense ratio.

Dividends

DBEM vs. DVYE - Dividend Comparison

DBEM's dividend yield for the trailing twelve months is around 1.42%, less than DVYE's 5.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	1.42%	1.84%	2.48%	2.55%	2.65%	1.77%	1.74%	2.59%	2.85%	1.51%	1.59%	3.49%
DVYE iShares Emerging Markets Dividend ETF	5.11%	5.88%	11.81%	9.05%	9.89%	7.31%	5.27%	5.97%	5.69%	4.81%	4.56%	6.53%

Frequently Asked Questions

Can I hold both DBEM and DVYE in my portfolio?

DBEM and DVYE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEM or DVYE?

DBEM has higher volatility (7.65%) compared to DVYE (5.48%). In terms of maximum drawdown, DBEM dropped -33.51% vs DVYE's -47.42%.

Which ETF is better, DBEM or DVYE?

On 10-year performance, DBEM leads with 10.50% vs 7.81% for DVYE. On fees, DVYE is cheaper at 0.49% per year. On volatility, DVYE has been the lower-risk option at 5.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEM or DVYE?

Over the 10-year period, DBEM has performed better with a 10.50% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEM or DVYE?

DVYE is cheaper with a 0.49% expense ratio, compared with 0.66% for DBEM.

Which ETF pays a higher dividend yield, DBEM or DVYE?

DVYE has the higher dividend yield at 5.11%, compared with 1.42% for DBEM.

What is the main difference between DBEM and DVYE?

DBEM tracks MSCI EM US Dollar Hedged Index, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index. They also come from different issuers: Deutsche Bank and iShares. Their fees differ too: 0.66% for DBEM and 0.49% for DVYE.

Which has better risk-adjusted returns?

DBEM currently has the higher Sharpe Ratio (3.33 vs 2.01), 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.