DBEM vs. ECLN

Last updated Jun 23, 2026

DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) and ECLN (First Trust EIP Carbon Impact ETF) are both exchange-traded funds - DBEM is a Emerging Markets Equities fund tracking the MSCI EM US Dollar Hedged Index, while ECLN is a Utilities Equities fund actively managed by First Trust. DBEM is passively managed, while ECLN is actively managed. Over the past 5 years, DBEM returned 10.52%/yr vs 12.01%/yr for ECLN. At a 0.32 correlation, their price movements are largely independent. DBEM charges 0.66%/yr vs 0.97%/yr for ECLN.

Performance

DBEM vs. ECLN - Performance Comparison

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

Returns By Period

In the year-to-date period, DBEM achieves a 34.95% return, which is significantly higher than ECLN's 12.96% return.

DBEM

• 1D: 0.66%
• 1M: 8.63%
• YTD: 34.95%
• 6M: 36.36%
• 1Y: 63.96%
• 3Y*: 27.03%
• 5Y*: 10.52%
• 10Y*: 11.28%

ECLN

• 1D: 0.16%
• 1M: -1.81%
• YTD: 12.96%
• 6M: 13.23%
• 1Y: 20.96%
• 3Y*: 17.40%
• 5Y*: 12.01%
• 10Y*: —

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

DBEM vs. ECLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	34.95%	30.42%	10.61%	10.53%	-17.00%	-2.26%	18.12%	13.18%
ECLN First Trust EIP Carbon Impact ETF	12.96%	16.78%	22.60%	-3.36%	5.28%	12.26%	8.98%	5.66%

Correlation

The correlation between DBEM and ECLN is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 20, 2019	0.32

The correlation between DBEM and ECLN shifts across timeframes, from 0.15 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

DBEM vs. ECLN - Sectors Allocation Comparison

Sectors	DBEM	ECLN
Technology	43.6%	0.5%
Financial Services	17.9%	-
Consumer Cyclical	8.4%	-
Industrials	6.7%	6.8%
Communication Services	6.1%	-
Basic Materials	6.0%	-
Energy	3.5%	16.3%
Consumer Defensive	2.5%	-
Healthcare	2.5%	-
Utilities	1.8%	76.4%
Real Estate	1.0%	-

Return for Risk

DBEM vs. ECLN — 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: 90
DBEM Omega Ratio Rank: 92
DBEM Calmar Ratio Rank: 93
DBEM Martin Ratio Rank: 93

ECLN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. ECLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and First Trust EIP Carbon Impact ETF (ECLN). 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.

	DBEM	ECLN	Difference
Sharpe ratio: Return per unit of total volatility	3.22	2.08	+1.14
Sortino ratio: Return per unit of downside risk	3.98	3.03	+0.94
Omega ratio: Gain probability vs. loss probability	1.58	1.36	+0.22
Calmar ratio: Return relative to maximum drawdown	6.12	4.33	+1.79
Martin ratio: Return relative to average drawdown	22.57	11.59	+10.99

DBEM vs. ECLN - Sharpe Ratio Comparison

The current DBEM Sharpe Ratio is 3.22, which is higher than the ECLN Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of DBEM and ECLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBEM vs. ECLN - Drawdown Comparison

The maximum DBEM drawdown since its inception was -33.51%, roughly equal to the maximum ECLN drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for DBEM and ECLN.

Drawdown Indicators

	DBEM	ECLN	Difference
Max Drawdown Largest peak-to-trough decline	-33.51%	-32.28%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-5.02%	-5.49%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-14.68%	-0.44%
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	-19.88%	-10.60%
Max Drawdown (10Y) Largest decline over 10 years	-33.51%	—	—
Current Drawdown Current decline from peak	0.00%	-2.96%	+2.96%
Average Drawdown Average peak-to-trough decline	-11.66%	-4.99%	-6.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	1.87%	+0.97%

Volatility

DBEM vs. ECLN - Volatility Comparison

Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) has a higher volatility of 10.09% compared to First Trust EIP Carbon Impact ETF (ECLN) at 3.75%. This indicates that DBEM's price experiences larger fluctuations and is considered to be riskier than ECLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEM	ECLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.09%	3.75%	+6.34%
Volatility (6M) Calculated over the trailing 6-month period	17.84%	8.12%	+9.72%
Volatility (1Y) Calculated over the trailing 1-year period	20.01%	10.45%	+9.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.54%	14.22%	+3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.35%	17.39%	-0.04%

DBEM vs. ECLN - Expense Ratio Comparison

DBEM has a 0.66% expense ratio, which is lower than ECLN's 0.97% expense ratio.

Dividends

DBEM vs. ECLN - Dividend Comparison

DBEM's dividend yield for the trailing twelve months is around 1.96%, while ECLN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	1.96%	1.84%	2.48%	2.55%	2.65%	1.77%	1.74%	2.59%	2.85%	1.51%	1.59%	3.49%
ECLN First Trust EIP Carbon Impact ETF	1.81%	1.97%	2.52%	2.54%	1.72%	1.66%	1.68%	0.71%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBEM and ECLN in my portfolio?

DBEM and ECLN have a correlation of 0.15, 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 ECLN?

DBEM has higher volatility (10.09%) compared to ECLN (3.75%). In terms of maximum drawdown, DBEM dropped -33.51% vs ECLN's -32.28%.

Which ETF is better, DBEM or ECLN?

On 5-year performance, ECLN leads with 12.01% vs 10.52% for DBEM. On fees, DBEM is cheaper at 0.66% per year. On volatility, ECLN has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEM or ECLN?

Over the 5-year period, ECLN has performed better with a 12.01% return vs 10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEM or ECLN?

DBEM is cheaper with a 0.66% expense ratio, compared with 0.97% for ECLN.

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

DBEM has the higher dividend yield at 1.96%, compared with 1.81% for ECLN.

What is the main difference between DBEM and ECLN?

DBEM is categorized as Emerging Markets Equities, while ECLN is Utilities Equities. They also come from different issuers: Deutsche Bank and First Trust. Their fees differ too: 0.66% for DBEM and 0.97% for ECLN.

Which has better risk-adjusted returns?

DBEM currently has the higher Sharpe Ratio (3.22 vs 2.08), 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.