DIEM vs. DIVI

Last updated Jun 23, 2026

DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) and DIVI (Franklin International Core Dividend Tilt Index ETF) are both exchange-traded funds - DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index, while DIVI is a Foreign Large Cap Equities fund tracking the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Both are passively managed. Over the past 10 years, DIEM returned 9.83%/yr vs 11.95%/yr for DIVI. A 0.66 correlation means they provide meaningful diversification when combined. DIEM charges 0.19%/yr vs 0.09%/yr for DIVI.

Performance

DIEM vs. DIVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Franklin International Core Dividend Tilt Index ETF (DIVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DIEM achieves a 36.64% return, which is significantly higher than DIVI's 12.98% return. Over the past 10 years, DIEM has underperformed DIVI with an annualized return of 9.83%, while DIVI has yielded a comparatively higher 11.95% annualized return.

DIEM

• 1D: 0.57%
• 1M: 10.28%
• YTD: 36.64%
• 6M: 37.93%
• 1Y: 62.49%
• 3Y*: 29.44%
• 5Y*: 12.89%
• 10Y*: 9.83%

DIVI

• 1D: 0.21%
• 1M: 2.00%
• YTD: 12.98%
• 6M: 13.39%
• 1Y: 30.71%
• 3Y*: 19.05%
• 5Y*: 13.96%
• 10Y*: 11.95%

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

DIEM vs. DIVI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	36.64%	30.81%	12.29%	15.41%	-20.61%	6.92%	1.27%	12.23%	-11.29%	27.61%
DIVI Franklin International Core Dividend Tilt Index ETF	12.98%	34.86%	1.77%	18.97%	-1.21%	16.95%	1.29%	22.98%	-6.73%	13.65%

Correlation

The correlation between DIEM and DIVI is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jun 3, 2016	0.66

The correlation between DIEM and DIVI has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

Return for Risk

DIEM vs. DIVI — Risk / Return Rank

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

DIEM

DIEM Risk / Return Rank: 90
DIEM Sharpe Ratio Rank: 92
DIEM Sortino Ratio Rank: 88
DIEM Omega Ratio Rank: 92
DIEM Calmar Ratio Rank: 89
DIEM Martin Ratio Rank: 90

DIVI

DIVI Risk / Return Rank: 62
DIVI Sharpe Ratio Rank: 64
DIVI Sortino Ratio Rank: 62
DIVI Omega Ratio Rank: 61
DIVI Calmar Ratio Rank: 61
DIVI Martin Ratio Rank: 64

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.

DIEM vs. DIVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) and Franklin International Core Dividend Tilt Index ETF (DIVI). 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.

	DIEM	DIVI	Difference
Sharpe ratio: Return per unit of total volatility	3.09	2.03	+1.06
Sortino ratio: Return per unit of downside risk	3.82	2.81	+1.01
Omega ratio: Gain probability vs. loss probability	1.59	1.36	+0.23
Calmar ratio: Return relative to maximum drawdown	5.09	2.93	+2.16
Martin ratio: Return relative to average drawdown	19.83	11.27	+8.56

DIEM vs. DIVI - Sharpe Ratio Comparison

The current DIEM Sharpe Ratio is 3.09, which is higher than the DIVI Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DIEM and DIVI, 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

DIEM vs. DIVI - Drawdown Comparison

The maximum DIEM drawdown since its inception was -38.61%, which is greater than DIVI's maximum drawdown of -27.76%. Use the drawdown chart below to compare losses from any high point for DIEM and DIVI.

Drawdown Indicators

	DIEM	DIVI	Difference
Max Drawdown Largest peak-to-trough decline	-38.61%	-27.76%	-10.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.33%	-10.54%	-1.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-14.58%	-2.24%
Max Drawdown (5Y) Largest decline over 5 years	-33.34%	-18.53%	-14.81%
Max Drawdown (10Y) Largest decline over 10 years	-38.61%	-27.76%	-10.85%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.69%	-3.62%	-6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	2.73%	+0.43%

Volatility

DIEM vs. DIVI - Volatility Comparison

Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) has a higher volatility of 10.87% compared to Franklin International Core Dividend Tilt Index ETF (DIVI) at 4.76%. This indicates that DIEM's price experiences larger fluctuations and is considered to be riskier than DIVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIEM	DIVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.87%	4.76%	+6.11%
Volatility (6M) Calculated over the trailing 6-month period	18.49%	12.78%	+5.71%
Volatility (1Y) Calculated over the trailing 1-year period	20.38%	15.22%	+5.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	15.40%	+2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	16.45%	+1.39%

DIEM vs. DIVI - Expense Ratio Comparison

DIEM has a 0.19% expense ratio, which is higher than DIVI's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DIEM vs. DIVI - Dividend Comparison

DIEM's dividend yield for the trailing twelve months is around 1.55%, less than DIVI's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	1.55%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
DIVI Franklin International Core Dividend Tilt Index ETF	2.01%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%

Frequently Asked Questions

Can I hold both DIEM and DIVI in my portfolio?

DIEM and DIVI have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIEM or DIVI?

DIEM has higher volatility (10.87%) compared to DIVI (4.76%). In terms of maximum drawdown, DIEM dropped -38.61% vs DIVI's -27.76%.

Which ETF is better, DIEM or DIVI?

On 10-year performance, DIVI leads with 11.95% vs 9.83% for DIEM. On fees, DIVI is cheaper at 0.09% per year. On volatility, DIVI has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIEM or DIVI?

Over the 10-year period, DIVI has performed better with a 11.95% return vs 9.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIEM or DIVI?

DIVI is cheaper with a 0.09% expense ratio, compared with 0.19% for DIEM.

Which ETF pays a higher dividend yield, DIEM or DIVI?

DIVI has the higher dividend yield at 2.01%, compared with 1.55% for DIEM.

What is the main difference between DIEM and DIVI?

DIEM is categorized as Emerging Markets Diversified, while DIVI is Foreign Large Cap Equities. DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index, while DIVI tracks Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Their fees differ too: 0.19% for DIEM and 0.09% for DIVI.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.09 vs 2.03), 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.