DVYE vs. RNEM

Last updated Jul 16, 2026

DVYE (iShares Emerging Markets Dividend ETF) and RNEM (First Trust Emerging Markets Equity Select ETF) are both Emerging Markets Equities funds - DVYE tracks the Dow Jones Emerging Markets Select Dividend Index (Net) while RNEM tracks the Nasdaq Riskalyze Emerging Markets Equity Select Index. Both are passively managed. Over the past 5 years, DVYE returned 5.51%/yr vs 5.18%/yr for RNEM. A 0.69 correlation means they provide meaningful diversification when combined. DVYE charges 0.50%/yr vs 0.75%/yr for RNEM.

Performance

DVYE vs. RNEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Dividend ETF (DVYE) and First Trust Emerging Markets Equity Select ETF (RNEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVYE achieves a 9.17% return, which is significantly higher than RNEM's 1.36% return.

DVYE

• 1D: 0.09%
• 1M: -1.45%
• 6M: 4.41%
• YTD: 9.17%
• 1Y: 21.96%
• 3Y*: 19.58%
• 5Y*: 5.51%
• 10Y*: 6.77%

RNEM

• 1D: 0.43%
• 1M: -0.09%
• 6M: -0.47%
• YTD: 1.36%
• 1Y: 4.11%
• 3Y*: 6.42%
• 5Y*: 5.18%
• 10Y*: —

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

DVYE vs. RNEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DVYE iShares Emerging Markets Dividend ETF	9.17%	28.36%	8.89%	20.88%	-31.38%	11.02%	-2.51%	15.41%	-5.56%	8.17%
RNEM First Trust Emerging Markets Equity Select ETF	1.36%	15.58%	-1.47%	23.43%	-8.75%	6.16%	-8.16%	12.76%	-9.34%	11.97%

Correlation

The correlation between DVYE and RNEM is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Jun 23, 2017	0.69

The correlation between DVYE and RNEM has been stable across timeframes, ranging from 0.69 to 0.78 - a consistent structural relationship.

DVYE vs. RNEM - Sectors Allocation Comparison

Sectors	DVYE	RNEM
Financial Services	28.5%	35.0%
Energy	18.2%	7.0%
Industrials	17.0%	3.9%
Basic Materials	8.8%	14.2%
Technology	8.4%	6.4%
Utilities	7.0%	3.5%
Consumer Cyclical	4.3%	9.9%
Real Estate	4.0%	0.8%
Consumer Defensive	2.1%	6.0%
Communication Services	1.7%	8.7%
Healthcare	-	4.5%

Return for Risk

DVYE vs. RNEM — Risk / Return Rank

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

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

RNEM

RNEM Risk / Return Rank: 14
RNEM Sharpe Ratio Rank: 15
RNEM Sortino Ratio Rank: 14
RNEM Omega Ratio Rank: 13
RNEM Calmar Ratio Rank: 14
RNEM Martin Ratio Rank: 15

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.

DVYE vs. RNEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Dividend ETF (DVYE) and First Trust Emerging Markets Equity Select ETF (RNEM). 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.

	DVYE	RNEM	Difference
Sharpe ratio: Return per unit of total volatility	1.48	0.33	+1.15
Sortino ratio: Return per unit of downside risk	2.03	0.56	+1.47
Omega ratio: Gain probability vs. loss probability	1.26	1.07	+0.20
Calmar ratio: Return relative to maximum drawdown	2.38	0.39	+2.00
Martin ratio: Return relative to average drawdown	6.98	1.03	+5.95

DVYE vs. RNEM - Sharpe Ratio Comparison

The current DVYE Sharpe Ratio is 1.48, which is higher than the RNEM Sharpe Ratio of 0.33. The chart below compares the historical Sharpe Ratios of DVYE and RNEM, 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

DVYE vs. RNEM - Drawdown Comparison

The maximum DVYE drawdown since its inception was -47.42%, which is greater than RNEM's maximum drawdown of -38.38%. Use the drawdown chart below to compare losses from any high point for DVYE and RNEM.

Drawdown Indicators

	DVYE	RNEM	Difference
Max Drawdown Largest peak-to-trough decline	-47.42%	-38.38%	-9.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.26%	-10.71%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-14.63%	-13.09%	-1.54%
Max Drawdown (5Y) Largest decline over 5 years	-40.89%	-21.41%	-19.48%
Max Drawdown (10Y) Largest decline over 10 years	-40.89%	—	—
Current Drawdown Current decline from peak	-5.19%	-4.77%	-0.42%
Average Drawdown Average peak-to-trough decline	-15.30%	-9.25%	-6.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	4.01%	-0.85%

Volatility

DVYE vs. RNEM - Volatility Comparison

iShares Emerging Markets Dividend ETF (DVYE) has a higher volatility of 4.41% compared to First Trust Emerging Markets Equity Select ETF (RNEM) at 3.31%. This indicates that DVYE's price experiences larger fluctuations and is considered to be riskier than RNEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVYE	RNEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	3.31%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	12.61%	10.92%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	12.50%	+2.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	14.49%	+2.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	17.17%	+1.11%

DVYE vs. RNEM - Expense Ratio Comparison

DVYE has a 0.50% expense ratio, which is lower than RNEM's 0.75% expense ratio.

Dividends

DVYE vs. RNEM - Dividend Comparison

DVYE's dividend yield for the trailing twelve months is around 4.94%, more than RNEM's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
RNEM First Trust Emerging Markets Equity Select ETF	2.34%	2.75%	3.45%	1.63%	2.99%	3.20%	3.01%	2.85%	2.85%	2.28%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DVYE and RNEM in my portfolio?

DVYE and RNEM have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DVYE or RNEM?

DVYE has higher volatility (4.41%) compared to RNEM (3.31%). In terms of maximum drawdown, DVYE dropped -47.42% vs RNEM's -38.38%.

Which ETF is better, DVYE or RNEM?

On 5-year performance, DVYE leads with 5.51% vs 5.18% for RNEM. On fees, DVYE is cheaper at 0.50% per year. On volatility, RNEM has been the lower-risk option at 3.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVYE or RNEM?

Over the 5-year period, DVYE has performed better with a 5.51% return vs 5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVYE or RNEM?

DVYE is cheaper with a 0.50% expense ratio, compared with 0.75% for RNEM.

Which ETF pays a higher dividend yield, DVYE or RNEM?

DVYE has the higher dividend yield at 4.94%, compared with 2.34% for RNEM.

What is the main difference between DVYE and RNEM?

DVYE tracks Dow Jones Emerging Markets Select Dividend Index (Net), while RNEM tracks Nasdaq Riskalyze Emerging Markets Equity Select Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.50% for DVYE and 0.75% for RNEM.

Which has better risk-adjusted returns?

DVYE currently has the higher Sharpe Ratio (1.48 vs 0.33), 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.