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DBEM vs. EEMX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

DBEM vs. EEMX

Last updated Apr 1, 2026

Compare and contrast key facts about Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX).

DBEM and EEMX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBEM is a passively managed fund by Deutsche Bank that tracks the performance of the MSCI EM US Dollar Hedged Index. It was launched on Jun 9, 2011. EEMX is a passively managed fund by State Street that tracks the performance of the MSCI Emerging Markets ex Fossil Fuels Index. It was launched on Oct 24, 2016. Both DBEM and EEMX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DBEM vs. EEMX - Performance Comparison

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

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DBEM vs. EEMX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DBEM
Xtrackers MSCI Emerging Markets Hedged Equity ETF		7.18%30.42%10.61%10.53%-17.00%-2.26%18.12%16.77%-10.81%27.10%
EEMX
SPDR MSCI Emerging Markets Fossil Fuel Free ETF		4.77%35.23%7.22%9.80%-19.75%-3.57%19.55%18.56%-16.76%38.46%

Returns By Period

In the year-to-date period, DBEM achieves a 7.18% return, which is significantly higher than EEMX's 4.77% return.

DBEM

1D
3.43%
1M
-5.43%
YTD
7.18%
6M
11.26%
1Y
35.57%
3Y*
17.96%
5Y*
5.65%
10Y*
8.47%

EEMX

1D
1.09%
1M
-6.81%
YTD
4.77%
6M
8.20%
1Y
35.75%
3Y*
16.71%
5Y*
4.37%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Xtrackers MSCI Emerging Markets Hedged Equity ETF

SPDR MSCI Emerging Markets Fossil Fuel Free ETF

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Often compared with EEMX:
EEMX vs. ESGEEEMX vs. EEMEEMX vs. ^GSPCEEMX vs. VOOEEMX vs. FSKAXEEMX vs. SPEMEEMX vs. VWO

DBEM vs. EEMX - Expense Ratio Comparison

DBEM has a 0.66% expense ratio, which is higher than EEMX's 0.30% expense ratio.

DBEM
Xtrackers MSCI Emerging Markets Hedged Equity ETF
EEMX
SPDR MSCI Emerging Markets Fossil Fuel Free ETF

Return for Risk

DBEM vs. EEMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBEM
DBEM Risk / Return Rank: 9090
Overall Rank
DBEM Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
DBEM Sortino Ratio Rank: 9191
Sortino Ratio Rank
DBEM Omega Ratio Rank: 9090
Omega Ratio Rank
DBEM Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBEM Martin Ratio Rank: 9191
Martin Ratio Rank
EEMX
EEMX Risk / Return Rank: 8484
Overall Rank
EEMX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
EEMX Sortino Ratio Rank: 8585
Sortino Ratio Rank
EEMX Omega Ratio Rank: 8484
Omega Ratio Rank
EEMX Calmar Ratio Rank: 8484
Calmar Ratio Rank
EEMX Martin Ratio Rank: 8484
Martin Ratio Rank
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. EEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX). 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.

DBEMEEMXDifference

Sharpe ratio

Return per unit of total volatility

1.93

1.74

+0.19

Sortino ratio

Return per unit of downside risk

2.61

2.35

+0.26

Omega ratio

Gain probability vs. loss probability

1.38

1.34

+0.04

Calmar ratio

Return relative to maximum drawdown

3.11

2.61

+0.50

Martin ratio

Return relative to average drawdown

12.45

10.21

+2.24

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. EEMX - Sharpe Ratio Comparison

The current DBEM Sharpe Ratio is 1.93, which is comparable to the EEMX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of DBEM and EEMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

DBEMEEMXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.93

1.74

+0.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.34

0.24

+0.11

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

0.37

-0.11

Correlation

The correlation between DBEM and EEMX is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DBEM vs. EEMX - Dividend Comparison

DBEM's dividend yield for the trailing twelve months is around 1.72%, less than EEMX's 2.17% yield.

TTM20252024202320222021202020192018201720162015
DBEM
Xtrackers MSCI Emerging Markets Hedged Equity ETF		1.72%1.84%2.48%2.55%2.65%1.77%1.74%2.59%2.85%1.51%1.59%3.49%
EEMX
SPDR MSCI Emerging Markets Fossil Fuel Free ETF		2.17%2.28%2.26%2.20%2.38%1.72%1.42%2.57%2.41%2.45%0.15%0.00%

Drawdowns

DBEM vs. EEMX - Drawdown Comparison

The maximum DBEM drawdown since its inception was -33.51%, smaller than the maximum EEMX drawdown of -39.90%. Use the drawdown chart below to compare losses from any high point for DBEM and EEMX.

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Drawdown Indicators

DBEMEEMXDifference

Max Drawdown

Largest peak-to-trough decline

-33.51%

-39.90%

+6.39%

Max Drawdown (1Y)

Largest decline over 1 year

-11.38%

-13.89%

+2.51%

Max Drawdown (5Y)

Largest decline over 5 years

-30.58%

-37.33%

+6.75%

Max Drawdown (10Y)

Largest decline over 10 years

-33.51%

—

—

Current Drawdown

Current decline from peak

-7.44%

-9.51%

+2.07%

Average Drawdown

Average peak-to-trough decline

-11.81%

-14.97%

+3.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.84%

3.55%

-0.71%

Volatility

DBEM vs. EEMX - Volatility Comparison

The current volatility for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) is 9.13%, while SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a volatility of 10.37%. This indicates that DBEM experiences smaller price fluctuations and is considered to be less risky than EEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DBEMEEMXDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.13%

10.37%

-1.24%

Volatility (6M)

Calculated over the trailing 6-month period

13.56%

15.72%

-2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

18.81%

20.66%

-1.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.66%

18.62%

-1.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.91%

20.03%

-3.12%