EEM vs. DGS

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI Emerging Markets ETF (EEM) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS).

EEM and DGS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EEM is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Index. It was launched on Apr 11, 2003. DGS is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Emerging Markets SmallCap Dividend Index. It was launched on Oct 30, 2007. Both EEM and DGS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EEM vs. DGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ETF (EEM) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). The values are adjusted to include any dividend payments, if applicable.

EEM vs. DGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEM iShares MSCI Emerging Markets ETF	4.61%	33.98%	6.49%	8.95%	-20.56%	-3.63%	17.02%	18.22%	-15.31%	37.26%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	5.57%	21.18%	1.13%	19.08%	-12.35%	15.33%	4.06%	18.90%	-16.52%	37.47%

Returns By Period

In the year-to-date period, EEM achieves a 4.61% return, which is significantly lower than DGS's 5.57% return. Over the past 10 years, EEM has underperformed DGS with an annualized return of 7.66%, while DGS has yielded a comparatively higher 8.96% annualized return.

EEM

• 1D: 0.77%
• 1M: -6.94%
• YTD: 4.61%
• 6M: 7.86%
• 1Y: 33.69%
• 3Y*: 16.02%
• 5Y*: 3.61%
• 10Y*: 7.66%

DGS

• 1D: 0.22%
• 1M: -5.39%
• YTD: 5.57%
• 6M: 6.72%
• 1Y: 28.44%
• 3Y*: 13.87%
• 5Y*: 7.54%
• 10Y*: 8.96%

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

EEM vs. DGS - Expense Ratio Comparison

EEM has a 0.72% expense ratio, which is higher than DGS's 0.58% expense ratio.

EEM

iShares MSCI Emerging Markets ETF

DGS

WisdomTree Emerging Markets SmallCap Dividend Fund

Return for Risk

EEM vs. DGS — Risk / Return Rank

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

EEM

EEM Risk / Return Rank: 83
EEM Sharpe Ratio Rank: 83
EEM Sortino Ratio Rank: 83
EEM Omega Ratio Rank: 83
EEM Calmar Ratio Rank: 84
EEM Martin Ratio Rank: 83

DGS

DGS Risk / Return Rank: 84
DGS Sharpe Ratio Rank: 84
DGS Sortino Ratio Rank: 85
DGS Omega Ratio Rank: 83
DGS Calmar Ratio Rank: 85
DGS Martin Ratio Rank: 83

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.

EEM vs. DGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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.

	EEM	DGS	Difference
Sharpe ratio Return per unit of total volatility	1.67	1.73	-0.05
Sortino ratio Return per unit of downside risk	2.26	2.32	-0.06
Omega ratio Gain probability vs. loss probability	1.33	1.33	0.00
Calmar ratio Return relative to maximum drawdown	2.52	2.67	-0.15
Martin ratio Return relative to average drawdown	9.62	9.78	-0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEM vs. DGS - Sharpe Ratio Comparison

The current EEM Sharpe Ratio is 1.67, which is comparable to the DGS Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of EEM and DGS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EEM	DGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.73	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	0.52	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.52	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.21	+0.14

Correlation

The correlation between EEM and DGS is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EEM vs. DGS - Dividend Comparison

EEM's dividend yield for the trailing twelve months is around 2.12%, less than DGS's 3.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEM iShares MSCI Emerging Markets ETF	2.12%	2.22%	2.43%	2.63%	2.50%	1.99%	1.45%	2.76%	2.24%	1.89%	1.89%	2.49%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	3.48%	3.45%	3.36%	4.55%	5.34%	3.98%	3.69%	3.95%	4.24%	2.81%	3.42%	3.28%

Drawdowns

EEM vs. DGS - Drawdown Comparison

The maximum EEM drawdown since its inception was -66.43%, which is greater than DGS's maximum drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for EEM and DGS.

Drawdown Indicators

	EEM	DGS	Difference
Max Drawdown Largest peak-to-trough decline	-66.43%	-61.83%	-4.60%
Max Drawdown (1Y) Largest decline over 1 year	-13.52%	-10.99%	-2.53%
Max Drawdown (5Y) Largest decline over 5 years	-37.82%	-24.86%	-12.96%
Max Drawdown (10Y) Largest decline over 10 years	-39.82%	-44.08%	+4.26%
Current Drawdown Current decline from peak	-9.60%	-7.42%	-2.18%
Average Drawdown Average peak-to-trough decline	-16.12%	-12.68%	-3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	3.00%	+0.55%

Volatility

EEM vs. DGS - Volatility Comparison

iShares MSCI Emerging Markets ETF (EEM) has a higher volatility of 9.51% compared to WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) at 7.60%. This indicates that EEM's price experiences larger fluctuations and is considered to be riskier than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEM	DGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.51%	7.60%	+1.91%
Volatility (6M) Calculated over the trailing 6-month period	15.13%	11.46%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	20.24%	16.57%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.43%	14.66%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.32%	17.25%	+3.07%