EELV vs. DIEM

Last updated Jun 5, 2026

EELV (Invesco S&P Emerging Markets Low Volatility ETF) and DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) are both exchange-traded funds - EELV is a Volatility Hedged Equity fund tracking the S&P BMI Emerging Markets Low Volatility Index, while DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index. Both are passively managed. Over the past 10 years, EELV returned 6.55%/yr vs 9.40%/yr for DIEM. Their correlation of 0.83 suggests significant overlap in exposure. EELV charges 0.30%/yr vs 0.19%/yr for DIEM.

Performance

EELV vs. DIEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EELV achieves a 4.49% return, which is significantly lower than DIEM's 31.36% return. Over the past 10 years, EELV has underperformed DIEM with an annualized return of 6.55%, while DIEM has yielded a comparatively higher 9.40% annualized return.

EELV

• 1D: 0.50%
• 1M: -1.73%
• YTD: 4.49%
• 6M: 5.24%
• 1Y: 14.63%
• 3Y*: 10.86%
• 5Y*: 6.92%
• 10Y*: 6.55%

DIEM

• 1D: -1.07%
• 1M: 8.55%
• YTD: 31.36%
• 6M: 33.96%
• 1Y: 57.28%
• 3Y*: 27.91%
• 5Y*: 11.25%
• 10Y*: 9.40%

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

EELV vs. DIEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EELV Invesco S&P Emerging Markets Low Volatility ETF	4.49%	21.97%	1.90%	8.85%	-3.98%	16.15%	-3.89%	8.89%	-5.40%	24.89%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	31.36%	30.81%	12.29%	15.41%	-20.61%	6.92%	1.27%	12.23%	-11.29%	27.61%

Correlation

The correlation between EELV and DIEM is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 6, 2016	0.83

The correlation between EELV and DIEM shifts across timeframes, from 0.72 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

EELV vs. DIEM - Sectors Allocation Comparison

Sectors	EELV	DIEM
Financial Services	37.4%	23.3%
Consumer Defensive	10.8%	2.9%
Communication Services	9.6%	5.6%
Utilities	9.6%	4.1%
Industrials	8.9%	4.7%
Energy	6.5%	6.0%
Healthcare	5.4%	0.6%
Basic Materials	5.3%	4.2%
Consumer Cyclical	3.8%	6.7%
Real Estate	2.6%	1.6%
Technology	0.2%	40.3%

Return for Risk

EELV vs. DIEM — Risk / Return Rank

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

EELV

EELV Risk / Return Rank: 38
EELV Sharpe Ratio Rank: 39
EELV Sortino Ratio Rank: 38
EELV Omega Ratio Rank: 38
EELV Calmar Ratio Rank: 37
EELV Martin Ratio Rank: 39

DIEM

DIEM Risk / Return Rank: 89
DIEM Sharpe Ratio Rank: 91
DIEM Sortino Ratio Rank: 89
DIEM Omega Ratio Rank: 91
DIEM Calmar Ratio Rank: 85
DIEM Martin Ratio Rank: 88

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.

EELV vs. DIEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Low Volatility ETF (EELV) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). 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.

	EELV	DIEM	Difference
Sharpe ratio: Return per unit of total volatility	1.35	3.16	-1.81
Sortino ratio: Return per unit of downside risk	1.93	4.06	-2.13
Omega ratio: Gain probability vs. loss probability	1.25	1.59	-0.34
Calmar ratio: Return relative to maximum drawdown	1.79	4.67	-2.88
Martin ratio: Return relative to average drawdown	6.02	19.22	-13.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EELV vs. DIEM - Sharpe Ratio Comparison

The current EELV Sharpe Ratio is 1.35, which is lower than the DIEM Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of EELV and DIEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EELV	DIEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	3.16	-1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.67	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.54	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.54	-0.24

Drawdowns

EELV vs. DIEM - Drawdown Comparison

The maximum EELV drawdown since its inception was -36.35%, smaller than the maximum DIEM drawdown of -38.61%. Use the drawdown chart below to compare losses from any high point for EELV and DIEM.

Drawdown Indicators

	EELV	DIEM	Difference
Max Drawdown Largest peak-to-trough decline	-36.35%	-38.61%	+2.26%
Max Drawdown (1Y) Largest decline over 1 year	-8.22%	-12.33%	+4.11%
Max Drawdown (3Y) Largest decline over 3 years	-11.79%	-16.82%	+5.03%
Max Drawdown (5Y) Largest decline over 5 years	-19.04%	-33.34%	+14.30%
Max Drawdown (10Y) Largest decline over 10 years	-36.35%	-38.61%	+2.26%
Current Drawdown Current decline from peak	-4.24%	-2.43%	-1.81%
Average Drawdown Average peak-to-trough decline	-8.93%	-9.71%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	2.99%	-0.55%

Volatility

EELV vs. DIEM - Volatility Comparison

The current volatility for Invesco S&P Emerging Markets Low Volatility ETF (EELV) is 3.39%, while Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) has a volatility of 8.50%. This indicates that EELV experiences smaller price fluctuations and is considered to be less risky than DIEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EELV	DIEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	8.50%	-5.11%
Volatility (6M) Calculated over the trailing 6-month period	9.03%	15.97%	-6.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.88%	18.21%	-7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.36%	16.93%	-5.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.64%	17.59%	-3.95%

EELV vs. DIEM - Expense Ratio Comparison

EELV has a 0.30% expense ratio, which is higher than DIEM's 0.19% expense ratio.

Dividends

EELV vs. DIEM - Dividend Comparison

EELV's dividend yield for the trailing twelve months is around 3.58%, more than DIEM's 2.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.32%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%	0.00%
EELV Invesco S&P Emerging Markets Low Volatility ETF	3.58%	3.75%	4.70%	4.00%	3.45%	4.35%	2.82%	3.14%	5.50%	2.92%	2.29%	2.53%

Frequently Asked Questions

Can I hold both EELV and DIEM in my portfolio?

EELV and DIEM have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EELV or DIEM?

DIEM has higher volatility (8.50%) compared to EELV (3.39%). In terms of maximum drawdown, EELV dropped -36.35% vs DIEM's -38.61%.

Which ETF is better, EELV or DIEM?

On 10-year performance, DIEM leads with 9.40% vs 6.55% for EELV. On fees, DIEM is cheaper at 0.19% per year. On volatility, EELV has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EELV or DIEM?

Over the 10-year period, DIEM has performed better with a 9.40% return vs 6.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EELV or DIEM?

DIEM is cheaper with a 0.19% expense ratio, compared with 0.30% for EELV.

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

EELV has the higher dividend yield at 3.58%, compared with 2.32% for DIEM.

What is the main difference between EELV and DIEM?

EELV is categorized as Volatility Hedged Equity, while DIEM is Emerging Markets Diversified. EELV tracks S&P BMI Emerging Markets Low Volatility Index, while DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index. They also come from different issuers: Invesco and Franklin Templeton. Their fees differ too: 0.30% for EELV and 0.19% for DIEM.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.16 vs 1.35), 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.