DBEM vs. GEME

Last updated Jun 24, 2026

DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) and GEME (Pacific North of South Global Emerging Markets Equity Active ETF) are both Emerging Markets Equities funds. DBEM is passively managed, while GEME is actively managed. Over the past year, DBEM returned 54.61% vs 70.02% for GEME. Their correlation of 0.87 suggests significant overlap in exposure. DBEM charges 0.66%/yr vs 0.75%/yr for GEME.

Performance

DBEM vs. GEME - Performance Comparison

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

Returns By Period

In the year-to-date period, DBEM achieves a 27.92% return, which is significantly lower than GEME's 32.99% return.

DBEM

• 1D: -5.21%
• 1M: 2.97%
• YTD: 27.92%
• 6M: 28.44%
• 1Y: 54.61%
• 3Y*: 24.78%
• 5Y*: 9.17%
• 10Y*: 10.69%

GEME

• 1D: -4.95%
• 1M: 0.89%
• YTD: 32.99%
• 6M: 35.43%
• 1Y: 70.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBEM vs. GEME - Yearly Performance Comparison

	2026 (YTD)	2025
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	27.92%	29.63%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	32.99%	37.43%

Correlation

The correlation between DBEM and GEME 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 (All Time) Calculated using the full available price history since Jan 23, 2025	0.87

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

Return for Risk

DBEM vs. GEME — Risk / Return Rank

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

DBEM

DBEM Risk / Return Rank: 87
DBEM Sharpe Ratio Rank: 87
DBEM Sortino Ratio Rank: 80
DBEM Omega Ratio Rank: 86
DBEM Calmar Ratio Rank: 90
DBEM Martin Ratio Rank: 90

GEME

GEME Risk / Return Rank: 90
GEME Sharpe Ratio Rank: 92
GEME Sortino Ratio Rank: 86
GEME Omega Ratio Rank: 90
GEME Calmar Ratio Rank: 90
GEME Martin Ratio Rank: 90

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. GEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). 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	GEME	Difference
Sharpe ratio: Return per unit of total volatility	2.65	3.03	-0.38
Sortino ratio: Return per unit of downside risk	3.28	3.58	-0.30
Omega ratio: Gain probability vs. loss probability	1.49	1.54	-0.05
Calmar ratio: Return relative to maximum drawdown	5.22	5.23	-0.01
Martin ratio: Return relative to average drawdown	19.15	19.34	-0.20

DBEM vs. GEME - Sharpe Ratio Comparison

The current DBEM Sharpe Ratio is 2.65, which is comparable to the GEME Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of DBEM and GEME, 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. GEME - Drawdown Comparison

The maximum DBEM drawdown since its inception was -33.51%, which is greater than GEME's maximum drawdown of -16.86%. Use the drawdown chart below to compare losses from any high point for DBEM and GEME.

Drawdown Indicators

	DBEM	GEME	Difference
Max Drawdown Largest peak-to-trough decline	-33.51%	-16.86%	-16.65%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-13.46%	+2.95%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.51%	—	—
Current Drawdown Current decline from peak	-5.21%	-5.18%	-0.03%
Average Drawdown Average peak-to-trough decline	-11.66%	-2.38%	-9.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	3.63%	-0.77%

Volatility

DBEM vs. GEME - Volatility Comparison

Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) has a higher volatility of 11.58% compared to Pacific North of South Global Emerging Markets Equity Active ETF (GEME) at 10.98%. This indicates that DBEM's price experiences larger fluctuations and is considered to be riskier than GEME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEM	GEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.58%	10.98%	+0.60%
Volatility (6M) Calculated over the trailing 6-month period	18.66%	20.46%	-1.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.69%	23.24%	-2.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	24.00%	-6.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.39%	24.00%	-6.61%

DBEM vs. GEME - Expense Ratio Comparison

DBEM has a 0.66% expense ratio, which is lower than GEME's 0.75% expense ratio.

Dividends

DBEM vs. GEME - Dividend Comparison

DBEM's dividend yield for the trailing twelve months is around 2.06%, less than GEME's 5.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF	2.06%	1.84%	2.48%	2.55%	2.65%	1.77%	1.74%	2.59%	2.85%	1.51%	1.59%	3.49%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	5.27%	7.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBEM and GEME in my portfolio?

DBEM and GEME 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, DBEM or GEME?

DBEM has higher volatility (11.58%) compared to GEME (10.98%). In terms of maximum drawdown, DBEM dropped -33.51% vs GEME's -16.86%.

Which ETF is better, DBEM or GEME?

On 1-year performance, GEME leads with 70.02% vs 54.61% for DBEM. On fees, DBEM is cheaper at 0.66% per year. On volatility, GEME has been the lower-risk option at 10.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEM or GEME?

Over the 1-year period, GEME has performed better with a 70.02% return vs 54.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEM or GEME?

DBEM is cheaper with a 0.66% expense ratio, compared with 0.75% for GEME.

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

GEME has the higher dividend yield at 5.27%, compared with 2.06% for DBEM.

What is the main difference between DBEM and GEME?

They also come from different issuers: Deutsche Bank and Pacific AM. Their fees differ too: 0.66% for DBEM and 0.75% for GEME.

Which has better risk-adjusted returns?

GEME currently has the higher Sharpe Ratio (3.03 vs 2.65), 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.