DEM.L vs. DVYE

Last updated Jul 16, 2026

DEM.L (WisdomTree Emerging Markets Equity Income UCITS ETF) and DVYE (iShares Emerging Markets Dividend ETF) are both Emerging Markets Equities funds - DEM.L tracks the MSCI EM NR USD while DVYE tracks the Dow Jones Emerging Markets Select Dividend Index (Net). Both are passively managed. Over the past 10 years, DEM.L returned 8.08%/yr vs 6.49%/yr for DVYE. A 0.68 correlation means they provide meaningful diversification when combined. DEM.L charges 0.46%/yr vs 0.50%/yr for DVYE.

Performance

DEM.L vs. DVYE - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L) and iShares Emerging Markets Dividend ETF (DVYE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

DEM.L is traded in GBp, while DVYE is traded in USD. To make them comparable, the DVYE values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, DEM.L achieves a 16.58% return, which is significantly higher than DVYE's 8.72% return. Over the past 10 years, DEM.L has outperformed DVYE with an annualized return of 8.08%, while DVYE has yielded a comparatively lower 6.49% annualized return.

DEM.L

• 1D: -0.50%
• 1M: -3.89%
• 6M: 14.17%
• YTD: 16.58%
• 1Y: 20.16%
• 3Y*: 15.65%
• 5Y*: 10.66%
• 10Y*: 8.08%

DVYE

• 1D: -0.95%
• 1M: -2.31%
• 6M: 3.78%
• YTD: 8.72%
• 1Y: 20.67%
• 3Y*: 18.27%
• 5Y*: 5.88%
• 10Y*: 6.49%

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

DEM.L vs. DVYE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEM.L WisdomTree Emerging Markets Equity Income UCITS ETF	16.58%	12.71%	6.85%	14.78%	-2.59%	15.16%	-9.47%	11.19%	-6.09%	13.87%
DVYE iShares Emerging Markets Dividend ETF	8.72%	19.21%	10.80%	14.84%	-23.22%	12.07%	-5.37%	11.02%	0.04%	16.05%

Correlation

The correlation between DEM.L and DVYE is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Nov 14, 2014	0.68

The correlation between DEM.L and DVYE has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

DEM.L vs. DVYE - Sectors Allocation Comparison

Sectors	DEM.L	DVYE
Technology	24.0%	8.4%
Financial Services	23.8%	28.5%
Industrials	11.0%	17.0%
Consumer Defensive	8.3%	2.1%
Consumer Cyclical	7.8%	4.3%
Basic Materials	5.3%	8.8%
Communication Services	5.0%	1.7%
Real Estate	4.6%	4.0%
Energy	4.2%	18.2%
Utilities	4.1%	7.0%
Healthcare	1.7%	-

Return for Risk

DEM.L vs. DVYE — Risk / Return Rank

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

DEM.L

DEM.L Risk / Return Rank: 59
DEM.L Sharpe Ratio Rank: 53
DEM.L Sortino Ratio Rank: 52
DEM.L Omega Ratio Rank: 50
DEM.L Calmar Ratio Rank: 74
DEM.L Martin Ratio Rank: 65

DVYE

DVYE Risk / Return Rank: 53
DVYE Sharpe Ratio Rank: 53
DVYE Sortino Ratio Rank: 51
DVYE Omega Ratio Rank: 50
DVYE Calmar Ratio Rank: 59
DVYE Martin Ratio Rank: 51

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.

DEM.L vs. DVYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L) 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.

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.

	DEM.L	DVYE	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.64	-0.16
Sortino ratio: Return per unit of downside risk	2.07	2.24	-0.17
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.04
Calmar ratio: Return relative to maximum drawdown	3.06	2.74	+0.32
Martin ratio: Return relative to average drawdown	9.28	7.86	+1.42

DEM.L vs. DVYE - Sharpe Ratio Comparison

The current DEM.L Sharpe Ratio is 1.47, which is comparable to the DVYE Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of DEM.L 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.

Drawdowns

DEM.L vs. DVYE - Drawdown Comparison

The maximum DEM.L drawdown since its inception was -55.11%, which is greater than DVYE's maximum drawdown of -42.53%. Use the drawdown chart below to compare losses from any high point for DEM.L and DVYE.

Drawdown Indicators

	DEM.L	DVYE	Difference
Max Drawdown Largest peak-to-trough decline	-55.11%	-42.53%	-12.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.56%	-7.57%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-12.37%	-12.49%	+0.12%
Max Drawdown (5Y) Largest decline over 5 years	-14.48%	-30.10%	+15.62%
Max Drawdown (10Y) Largest decline over 10 years	-30.09%	-30.97%	+0.88%
Current Drawdown Current decline from peak	-5.04%	-5.29%	+0.25%
Average Drawdown Average peak-to-trough decline	-17.56%	-12.09%	-5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	2.63%	-0.46%

Volatility

DEM.L vs. DVYE - Volatility Comparison

WisdomTree Emerging Markets Equity Income UCITS ETF (DEM.L) has a higher volatility of 5.56% compared to iShares Emerging Markets Dividend ETF (DVYE) at 3.73%. This indicates that DEM.L'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

	DEM.L	DVYE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	3.73%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	11.35%	10.36%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	12.70%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.31%	15.24%	-1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	17.55%	-1.66%

DEM.L vs. DVYE - Expense Ratio Comparison

DEM.L has a 0.46% expense ratio, which is lower than DVYE's 0.50% expense ratio.

Dividends

DEM.L vs. DVYE - Dividend Comparison

DEM.L's dividend yield for the trailing twelve months is around 3.70%, less than DVYE's 4.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM.L WisdomTree Emerging Markets Equity Income UCITS ETF	3.70%	4.47%	7.67%	7.00%	7.05%	4.14%	4.77%	1.46%	0.00%	2.15%	1.49%	4.55%
DVYE iShares Emerging Markets Dividend ETF	4.94%	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 DEM.L and DVYE in my portfolio?

DEM.L and DVYE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DEM.L or DVYE?

On fees, DEM.L is cheaper at 0.46% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DEM.L or DVYE?

DEM.L is cheaper with a 0.46% expense ratio, compared with 0.50% for DVYE.

What is the main difference between DEM.L and DVYE?

DEM.L tracks MSCI EM NR USD, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index (Net). They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.46% for DEM.L and 0.50% for DVYE.