DEM vs. FNDE

Last updated Aug 2, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and FNDE (Schwab Fundamental Emerging Markets Equity ETF) are both exchange-traded funds - DEM is a Dividend fund tracking the WisdomTree Emerging Markets Equity Income Index, while FNDE is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index (Net). Both are passively managed. Over the past 10 years, DEM returned 9.26%/yr vs 10.16%/yr for FNDE. Their 0.95 correlation means they have historically moved very closely together. DEM charges 0.63%/yr vs 0.39%/yr for FNDE.

Performance

DEM vs. FNDE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) and Schwab Fundamental Emerging Markets Equity ETF (FNDE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEM achieves a 17.08% return, which is significantly higher than FNDE's 15.01% return. Over the past 10 years, DEM has underperformed FNDE with an annualized return of 9.26%, while FNDE has yielded a comparatively higher 10.16% annualized return.

DEM

• 1D: 0.19%
• 1M: 0.60%
• 6M: 10.28%
• YTD: 17.08%
• 1Y: 24.73%
• 3Y*: 15.88%
• 5Y*: 10.19%
• 10Y*: 9.26%
• ALL TIME*: 4.92%

FNDE

• 1D: 0.66%
• 1M: 4.72%
• 6M: 6.81%
• YTD: 15.01%
• 1Y: 29.41%
• 3Y*: 19.09%
• 5Y*: 10.74%
• 10Y*: 10.16%
• ALL TIME*: 7.19%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DEM WisdomTree Emerging Markets Equity Income Fund	$8.90M	$9.48M	$10.87M
FNDE Schwab Fundamental Emerging Markets Equity ETF	$29.51M	$30.86M	$33.63M

DEM vs. FNDE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEM WisdomTree Emerging Markets Equity Income Fund	17.08%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%
FNDE Schwab Fundamental Emerging Markets Equity ETF	15.01%	29.46%	12.10%	14.99%	-15.58%	14.41%	-2.77%	19.75%	-10.37%	26.77%

Correlation

The correlation between DEM and FNDE is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.95

The correlation between DEM and FNDE has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

DEM vs. FNDE - Sectors Allocation Comparison

Sectors	DEM	FNDE
Financial Services	21.9%	25.0%
Technology	17.5%	22.3%
Industrials	8.9%	4.6%
Energy	6.2%	13.2%
Consumer Defensive	5.8%	3.3%
Consumer Cyclical	5.4%	8.9%
Basic Materials	3.7%	12.0%
Utilities	3.0%	2.4%
Communication Services	3.0%	6.6%
Real Estate	2.9%	1.4%
Healthcare	0.6%	0.4%

Return for Risk

DEM vs. FNDE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DEM

DEM Risk / Return Rank: 75
DEM Sharpe Ratio Rank: 73
DEM Sortino Ratio Rank: 71
DEM Omega Ratio Rank: 72
DEM Calmar Ratio Rank: 84
DEM Martin Ratio Rank: 76

FNDE

FNDE Risk / Return Rank: 77
FNDE Sharpe Ratio Rank: 79
FNDE Sortino Ratio Rank: 76
FNDE Omega Ratio Rank: 78
FNDE Calmar Ratio Rank: 79
FNDE Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DEM vs. FNDE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) and Schwab Fundamental Emerging Markets Equity ETF (FNDE). 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	FNDE	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.79	-0.13
Sortino ratio: Return per unit of downside risk	2.31	2.41	-0.10
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	3.15	2.82	+0.33
Martin ratio: Return relative to average drawdown	9.50	8.93	+0.57

DEM vs. FNDE - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 1.66, which is comparable to the FNDE Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of DEM and FNDE, 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 vs. FNDE - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, which is greater than FNDE's maximum drawdown of -43.55%. Use the drawdown chart below to compare losses from any high point for DEM and FNDE.

Drawdown Indicators

	DEM	FNDE	Difference
Max Drawdown Largest peak-to-trough decline	-51.85%	-43.55%	-8.30%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-10.23%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-18.40%	+2.76%
Max Drawdown (5Y) Largest decline over 5 years	-27.18%	-29.44%	+2.26%
Max Drawdown (10Y) Largest decline over 10 years	-37.79%	-39.93%	+2.14%
Current Drawdown Current decline from peak	-3.57%	-2.07%	-1.50%
Average Drawdown Average peak-to-trough decline	-12.82%	-11.62%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	3.22%	-0.61%

Volatility

DEM vs. FNDE - Volatility Comparison

WisdomTree Emerging Markets Equity Income Fund (DEM) has a higher volatility of 5.12% compared to Schwab Fundamental Emerging Markets Equity ETF (FNDE) at 4.42%. This indicates that DEM's price experiences larger fluctuations and is considered to be riskier than FNDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEM	FNDE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.12%	4.42%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	13.64%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	15.02%	16.16%	-1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	17.08%	-1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.85%	19.13%	-1.28%

DEM vs. FNDE - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is higher than FNDE's 0.39% expense ratio.

Dividends

DEM vs. FNDE - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 4.18%, more than FNDE's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.18%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
FNDE Schwab Fundamental Emerging Markets Equity ETF	3.60%	4.19%	4.82%	4.74%	5.59%	4.32%	2.50%	3.47%	2.98%	2.05%	1.65%	2.02%

Frequently Asked Questions

Can I hold both DEM and FNDE in my portfolio?

With a correlation of 0.91, DEM and FNDE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DEM or FNDE?

DEM has higher volatility (5.12%) compared to FNDE (4.42%). In terms of maximum drawdown, DEM dropped -51.85% vs FNDE's -43.55%.

Which ETF is better, DEM or FNDE?

On 10-year performance, FNDE leads with 10.16% vs 9.26% for DEM. On fees, FNDE is cheaper at 0.39% per year. On volatility, FNDE has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEM or FNDE?

Over the 10-year period, FNDE has performed better with a 10.16% return vs 9.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEM or FNDE?

FNDE is cheaper with a 0.39% expense ratio, compared with 0.63% for DEM.

Which ETF pays a higher dividend yield, DEM or FNDE?

DEM has the higher dividend yield at 4.18%, compared with 3.60% for FNDE.

What is the main difference between DEM and FNDE?

DEM is categorized as Dividend, while FNDE is Emerging Markets Equities. DEM tracks WisdomTree Emerging Markets Equity Income Index, while FNDE tracks RAFI Fundamental High Liquidity Emerging Markets Index (Net). They also come from different issuers: WisdomTree and Charles Schwab. Their fees differ too: 0.63% for DEM and 0.39% for FNDE.

Which has better risk-adjusted returns?

FNDE currently has the higher Sharpe Ratio (1.79 vs 1.66), 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.