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DEM vs. IEFM.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DEM vs. IEFM.L

Last updated Jun 9, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) are both exchange-traded funds - DEM is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets Equity income Index, while IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index. Both are passively managed. Over the past 10 years, DEM returned 10.16%/yr vs 11.82%/yr for IEFM.L. A 0.51 correlation means they provide meaningful diversification when combined. DEM charges 0.63%/yr vs 0.25%/yr for IEFM.L.

Performance

DEM vs. IEFM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, DEM achieves a 16.22% return, which is significantly higher than IEFM.L's 5.38% return. Over the past 10 years, DEM has underperformed IEFM.L with an annualized return of 10.16%, while IEFM.L has yielded a comparatively higher 11.82% annualized return.

DEM

1D
0.54%
1M
-0.97%
YTD
16.22%
6M
17.83%
1Y
26.87%
3Y*
16.99%
5Y*
9.02%
10Y*
10.16%

IEFM.L

1D
0.26%
1M
-0.02%
YTD
5.38%
6M
9.64%
1Y
17.38%
3Y*
22.85%
5Y*
10.05%
10Y*
11.82%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DEM vs. IEFM.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DEM
WisdomTree Emerging Markets Equity Income Fund		16.22%21.29%4.46%20.93%-10.43%11.49%-5.84%19.84%-7.69%26.26%
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		5.38%43.09%13.12%16.19%-19.44%13.04%20.63%28.34%-14.47%26.94%

Correlation

The correlation between DEM and IEFM.L is 0.54, 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

0.54

Correlation (3Y)
Calculated over the trailing 3-year period

0.54

Correlation (5Y)
Calculated over the trailing 5-year period

0.56

Correlation (10Y)
Calculated over the trailing 10-year period

0.52

Correlation (All Time)
Calculated using the full available price history since Jan 20, 2015

0.51

The correlation between DEM and IEFM.L has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.

DEM vs. IEFM.L - Sectors Allocation Comparison

Sectors
DEM
IEFM.L

Financial Services

21.9%
23.8%

Technology

17.4%
9.2%

Industrials

9.5%
15.0%

Energy

6.1%
10.3%

Consumer Defensive

5.8%
2.9%

Consumer Cyclical

5.0%
0.5%

Basic Materials

3.5%
7.6%

Real Estate

3.0%
0.4%

Utilities

3.0%
11.9%

Communication Services

3.0%
2.8%

Healthcare

0.6%
15.7%

Financial Services

DEM
21.9%
IEFM.L
23.8%

Technology

DEM
17.4%
IEFM.L
9.2%

Industrials

DEM
9.5%
IEFM.L
15.0%

Energy

DEM
6.1%
IEFM.L
10.3%

Consumer Defensive

DEM
5.8%
IEFM.L
2.9%

Consumer Cyclical

DEM
5.0%
IEFM.L
0.5%

Basic Materials

DEM
3.5%
IEFM.L
7.6%

Real Estate

DEM
3.0%
IEFM.L
0.4%

Utilities

DEM
3.0%
IEFM.L
11.9%

Communication Services

DEM
3.0%
IEFM.L
2.8%

Healthcare

DEM
0.6%
IEFM.L
15.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

WisdomTree Emerging Markets Equity Income Fund

iShares Edge MSCI Europe Momentum Factor UCITS ETF

Often compared with DEM:
DEM vs. DVYEDEM vs. EEMDEM vs. FNDEDEM vs. AVEMDEM vs. DGREDEM vs. FEMKXDEM vs. VXUS
Often compared with IEFM.L:
IEFM.L vs. MTUMIEFM.L vs. VUKE.DEIEFM.L vs. CEMR.DEIEFM.L vs. EXO.ASIEFM.L vs. SPYF.DEIEFM.L vs. QDVX.DEIEFM.L vs. ESIF.L

Return for Risk

DEM vs. IEFM.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DEM
DEM Risk / Return Rank: 6767
Overall Rank
DEM Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
DEM Sortino Ratio Rank: 6363
Sortino Ratio Rank
DEM Omega Ratio Rank: 6565
Omega Ratio Rank
DEM Calmar Ratio Rank: 7474
Calmar Ratio Rank
DEM Martin Ratio Rank: 7171
Martin Ratio Rank
IEFM.L
IEFM.L Risk / Return Rank: 3737
Overall Rank
IEFM.L Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
IEFM.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
IEFM.L Omega Ratio Rank: 3737
Omega Ratio Rank
IEFM.L Calmar Ratio Rank: 3434
Calmar Ratio Rank
IEFM.L Martin Ratio Rank: 4040
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.

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

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) and iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L). 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.

DEMIEFM.LDifference
Sharpe ratioReturn per unit of total volatility
1.92
0.95

+0.98

Sortino ratioReturn per unit of downside risk
2.63
1.48

+1.15

Omega ratioGain probability vs. loss probability

1.35

1.18

+0.17

Calmar ratioReturn relative to maximum drawdown

3.42

1.27

+2.15

Martin ratioReturn relative to average drawdown

11.90

4.59

+7.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEM vs. IEFM.L - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 1.92, which is higher than the IEFM.L Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of DEM and IEFM.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DEMIEFM.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

0.95

+0.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.59

0.53

+0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.65

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.57

-0.35

Drawdowns

DEM vs. IEFM.L - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, which is greater than IEFM.L's maximum drawdown of -35.97%. Use the drawdown chart below to compare losses from any high point for DEM and IEFM.L.

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Drawdown Indicators

DEMIEFM.LDifference

Max Drawdown

Largest peak-to-trough decline

-51.85%

-35.97%

-15.88%

Max Drawdown (1Y)

Largest decline over 1 year

-7.89%

-13.68%

+5.79%

Max Drawdown (3Y)

Largest decline over 3 years

-15.64%

-14.87%

-0.77%

Max Drawdown (5Y)

Largest decline over 5 years

-27.18%

-35.97%

+8.79%

Max Drawdown (10Y)

Largest decline over 10 years

-37.79%

-35.97%

-1.82%

Current Drawdown

Current decline from peak

-4.27%

-3.67%

-0.60%

Average Drawdown

Average peak-to-trough decline

-12.89%

-7.42%

-5.47%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.26%

3.78%

-1.52%

Volatility

DEM vs. IEFM.L - Volatility Comparison

WisdomTree Emerging Markets Equity Income Fund (DEM) has a higher volatility of 6.13% compared to iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) at 4.29%. This indicates that DEM's price experiences larger fluctuations and is considered to be riskier than IEFM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DEMIEFM.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.13%

4.29%

+1.84%

Volatility (6M)

Calculated over the trailing 6-month period

11.90%

15.81%

-3.91%

Volatility (1Y)

Calculated over the trailing 1-year period

14.06%

18.32%

-4.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.40%

18.84%

-3.44%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.98%

18.18%

-0.20%

DEM vs. IEFM.L - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is higher than IEFM.L's 0.25% expense ratio.

Dividends

DEM vs. IEFM.L - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 3.88%, while IEFM.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
DEM
WisdomTree Emerging Markets Equity Income Fund		3.88%4.88%5.24%5.49%8.62%5.87%4.21%4.78%4.47%3.67%3.63%5.21%
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

DEM and IEFM.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEFM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IEFM.L is cheaper with a 0.25% expense ratio, compared with 0.63% for DEM.

DEM is categorized as Emerging Markets Equities, while IEFM.L is Momentum. DEM tracks WisdomTree Emerging Markets Equity income Index, while IEFM.L tracks MSCI Europe Momentum Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.63% for DEM and 0.25% for IEFM.L.

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