DFEV vs. EEM
DFEV (Dimensional Emerging Markets Value ETF) and EEM (iShares MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. DFEV is actively managed, while EEM is passively managed. Over the past 3 years, DFEV returned 24.39%/yr vs 22.58%/yr for EEM. Their correlation of 0.94 suggests significant overlap in exposure. DFEV charges 0.43%/yr vs 0.72%/yr for EEM.
Performance
DFEV vs. EEM - Performance Comparison
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Returns By Period
In the year-to-date period, DFEV achieves a 25.45% return, which is significantly higher than EEM's 23.41% return.
DFEV
- 1D
- -5.33%
- 1M
- 2.00%
- YTD
- 25.45%
- 6M
- 26.35%
- 1Y
- 48.75%
- 3Y*
- 24.39%
- 5Y*
- —
- 10Y*
- —
EEM
- 1D
- -5.67%
- 1M
- 2.49%
- YTD
- 23.41%
- 6M
- 24.32%
- 1Y
- 46.62%
- 3Y*
- 22.58%
- 5Y*
- 6.54%
- 10Y*
- 9.87%
DFEV vs. EEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFEV Dimensional Emerging Markets Value ETF | 25.45% | 32.54% | 7.26% | 15.52% | -6.08% |
EEM iShares MSCI Emerging Markets ETF | 23.41% | 33.98% | 6.49% | 8.95% | -5.70% |
Correlation
The correlation between DFEV and EEM is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.94 |
The correlation between DFEV and EEM has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
DFEV vs. EEM — Risk / Return Rank
DFEV
EEM
DFEV vs. EEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets Value ETF (DFEV) and iShares MSCI Emerging Markets ETF (EEM). 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.
| DFEV | EEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.39 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | 3.46 | +0.85 |
| Martin ratioReturn relative to average drawdown | 15.41 | 12.70 | +2.72 |
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Drawdowns
DFEV vs. EEM - Drawdown Comparison
The maximum DFEV drawdown since its inception was -18.49%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for DFEV and EEM.
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Drawdown Indicators
| DFEV | EEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.49% | -66.43% | +47.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.35% | -13.52% | +2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.94% | -17.29% | -0.65% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.49% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.82% | — |
Current DrawdownCurrent decline from peak | -5.33% | -5.67% | +0.34% |
Average DrawdownAverage peak-to-trough decline | -4.63% | -15.99% | +11.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 3.68% | -0.51% |
Volatility
DFEV vs. EEM - Volatility Comparison
The current volatility for Dimensional Emerging Markets Value ETF (DFEV) is 11.67%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 12.59%. This indicates that DFEV experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFEV | EEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.67% | 12.59% | -0.92% |
Volatility (6M)Calculated over the trailing 6-month period | 18.08% | 20.73% | -2.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.00% | 22.77% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.09% | 19.55% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 20.67% | -3.58% |
DFEV vs. EEM - Expense Ratio Comparison
DFEV has a 0.43% expense ratio, which is lower than EEM's 0.72% expense ratio.
Dividends
DFEV vs. EEM - Dividend Comparison
DFEV's dividend yield for the trailing twelve months is around 2.09%, more than EEM's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEV Dimensional Emerging Markets Value ETF | 2.09% | 2.69% | 3.17% | 3.47% | 3.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EEM iShares MSCI Emerging Markets ETF | 1.66% | 2.22% | 2.43% | 2.63% | 2.50% | 1.99% | 1.45% | 2.76% | 2.24% | 1.89% | 1.89% | 2.49% |
Frequently Asked Questions
With a correlation of 0.94, DFEV and EEM 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.
EEM has higher volatility (12.59%) compared to DFEV (11.67%). In terms of maximum drawdown, DFEV dropped -18.49% vs EEM's -66.43%.
On 3-year performance, DFEV leads with 24.39% vs 22.58% for EEM. On fees, DFEV is cheaper at 0.43% per year. On volatility, DFEV has been the lower-risk option at 11.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFEV has performed better with a 24.39% return vs 22.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFEV is cheaper with a 0.43% expense ratio, compared with 0.72% for EEM.
DFEV has the higher dividend yield at 2.09%, compared with 1.66% for EEM.
They also come from different issuers: Dimensional and iShares. Their fees differ too: 0.43% for DFEV and 0.72% for EEM.
DFEV currently has the higher Sharpe Ratio (2.45 vs 2.06), 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.
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