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EEM vs. EMDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEM vs. EMDV

Last updated Aug 6, 2026
Documentation

EEM (iShares MSCI Emerging Markets ETF) and EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) are both Emerging Markets Equities funds - EEM tracks the MSCI Emerging Markets Index (Net) while EMDV tracks the MSCI Emerging Markets Dividend Masters Index. Both are passively managed. Over the past 10 years, EEM returned 8.37%/yr vs 1.85%/yr for EMDV. Their correlation of 0.81 means they have usually moved in the same direction. EEM charges 0.72%/yr vs 0.60%/yr for EMDV.

Performance

EEM vs. EMDV - Performance Comparison

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

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Returns By Period

In the year-to-date period, EEM achieves a 20.75% return, which is significantly higher than EMDV's 2.36% return. Over the past 10 years, EEM has outperformed EMDV with an annualized return of 8.37%, while EMDV has yielded a comparatively lower 1.85% annualized return.

EEM

1D
-0.42%
1M
-2.74%
6M
12.35%
YTD
20.75%
1Y
37.20%
3Y*
20.30%
5Y*
7.31%
10Y*
8.37%
ALL TIME*
9.98%

EMDV

1D
-0.63%
1M
4.52%
6M
0.54%
YTD
2.36%
1Y
6.02%
3Y*
2.36%
5Y*
-1.45%
10Y*
1.85%
ALL TIME*
4.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EEM

iShares MSCI Emerging Markets ETF
$1.66B$1.55B$1.89B

EMDV

ProShares MSCI Emerging Markets Dividend Growers ETF
$2.63K$5.33K$10.28K

EEM vs. EMDV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEM
iShares MSCI Emerging Markets ETF		20.75%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%
EMDV
ProShares MSCI Emerging Markets Dividend Growers ETF		2.36%11.90%0.06%-1.03%-18.19%1.11%-0.09%14.93%-7.52%26.98%

Correlation

The correlation between EEM and EMDV is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.68

Correlation (3Y)
Balances recent behavior with more history.

0.75

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.82

Correlation (10Y)
Provides a long-term view across more market conditions.

0.83

Correlation (All Time)
Calculated using the full available price history since Jan 27, 2016

0.81

The correlation between EEM and EMDV shifts across timeframes, from 0.68 (1 year) to 0.83 (10 years), reflecting how their relationship changes across market environments.

EEM vs. EMDV - Sectors Allocation Comparison

Sectors
EEM
EMDV

Technology

45.9%
22.8%

Financial Services

18.2%
24.0%

Consumer Cyclical

7.4%
6.7%

Industrials

6.2%
6.7%

Communication Services

6.0%
5.8%

Basic Materials

5.4%
2.5%

Energy

3.2%

-

Consumer Defensive

2.5%
14.4%

Healthcare

2.5%
8.4%

Utilities

1.8%
8.8%

Real Estate

1.0%

-

Technology

EEM
45.9%
EMDV
22.8%

Financial Services

EEM
18.2%
EMDV
24.0%

Consumer Cyclical

EEM
7.4%
EMDV
6.7%

Industrials

EEM
6.2%
EMDV
6.7%

Communication Services

EEM
6.0%
EMDV
5.8%

Basic Materials

EEM
5.4%
EMDV
2.5%

Energy

EEM
3.2%
EMDV

-

Consumer Defensive

EEM
2.5%
EMDV
14.4%

Healthcare

EEM
2.5%
EMDV
8.4%

Utilities

EEM
1.8%
EMDV
8.8%

Real Estate

EEM
1.0%
EMDV

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Emerging Markets ETF

ProShares MSCI Emerging Markets Dividend Growers ETF

Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. VXUSEEM vs. IS3N.DEEEM vs. EEMSEEM vs. SPEM
Often compared with EMDV:
EMDV vs. CRBNEMDV vs. VWOEMDV vs. SCHDEMDV vs. BDVGEMDV vs. EMBEMDV vs. VGTEMDV vs. NOBL

Return for Risk

EEM vs. EMDV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EEM
EEM Risk / Return Rank: 5757
Overall Rank
EEM Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 5050
Sortino Ratio Rank
EEM Omega Ratio Rank: 5757
Omega Ratio Rank
EEM Calmar Ratio Rank: 6666
Calmar Ratio Rank
EEM Martin Ratio Rank: 5959
Martin Ratio Rank
EMDV
EMDV Risk / Return Rank: 2222
Overall Rank
EMDV Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
EMDV Sortino Ratio Rank: 2020
Sortino Ratio Rank
EMDV Omega Ratio Rank: 2020
Omega Ratio Rank
EMDV Calmar Ratio Rank: 2424
Calmar Ratio Rank
EMDV Martin Ratio Rank: 2323
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EEM vs. EMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ETF (EEM) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). 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.

EEMEMDVDifference
Sharpe ratioReturn per unit of total volatility
1.52
0.52

+1.00

Sortino ratioReturn per unit of downside risk
2.05
0.81

+1.24

Omega ratioGain probability vs. loss probability

1.29

1.10

+0.19

Calmar ratioReturn relative to maximum drawdown

2.62

0.83

+1.79

Martin ratioReturn relative to average drawdown

7.91

1.98

+5.93

EEM vs. EMDV - Sharpe Ratio Comparison

The current EEM Sharpe Ratio is 1.52, which is higher than the EMDV Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of EEM and EMDV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EEM vs. EMDV - Drawdown Comparison

The maximum EEM drawdown since its inception was -66.43%, which is greater than EMDV's maximum drawdown of -39.20%. Use the drawdown chart below to compare losses from any high point for EEM and EMDV.

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Drawdown Indicators

EEMEMDVDifference

Max Drawdown

Largest peak-to-trough decline

-66.43%

-39.20%

-27.23%

Max Drawdown (1Y)

Largest decline over 1 year

-14.24%

-7.24%

-7.00%

Max Drawdown (3Y)

Largest decline over 3 years

-17.29%

-20.71%

+3.42%

Max Drawdown (5Y)

Largest decline over 5 years

-35.01%

-33.37%

-1.64%

Max Drawdown (10Y)

Largest decline over 10 years

-39.82%

-39.20%

-0.62%

Current Drawdown

Current decline from peak

-7.71%

-13.79%

+6.08%

Average Drawdown

Average peak-to-trough decline

-15.95%

-13.59%

-2.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.71%

3.05%

+1.66%

Volatility

EEM vs. EMDV - Volatility Comparison

iShares MSCI Emerging Markets ETF (EEM) has a higher volatility of 8.53% compared to ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) at 3.11%. This indicates that EEM's price experiences larger fluctuations and is considered to be riskier than EMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EEMEMDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.53%

3.11%

+5.42%

Volatility (6M)

Calculated over the trailing 6-month period

22.42%

9.92%

+12.50%

Volatility (1Y)

Calculated over the trailing 1-year period

24.55%

11.70%

+12.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.87%

15.42%

+4.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.81%

17.98%

+2.83%

EEM vs. EMDV - Expense Ratio Comparison

EEM has a 0.72% expense ratio, which is higher than EMDV's 0.60% expense ratio.

Dividends

EEM vs. EMDV - Dividend Comparison

EEM's dividend yield for the trailing twelve months is around 1.70%, less than EMDV's 1.89% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.70%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
EMDV
ProShares MSCI Emerging Markets Dividend Growers ETF		1.89%2.46%2.79%1.88%3.68%2.12%3.12%2.38%1.27%2.09%2.87%0.00%

Frequently Asked Questions

EEM and EMDV have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (8.53%) compared to EMDV (3.11%). In terms of maximum drawdown, EEM dropped -66.43% vs EMDV's -39.20%.

On 10-year performance, EEM leads with 8.37% vs 1.85% for EMDV. On fees, EMDV is cheaper at 0.60% per year. On volatility, EMDV has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EEM has performed better with a 8.37% return vs 1.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMDV is cheaper with a 0.60% expense ratio, compared with 0.72% for EEM.

EMDV has the higher dividend yield at 1.89%, compared with 1.70% for EEM.

EEM tracks MSCI Emerging Markets Index (Net), while EMDV tracks MSCI Emerging Markets Dividend Masters Index. They also come from different issuers: iShares and ProShares. Their fees differ too: 0.72% for EEM and 0.60% for EMDV.

EEM currently has the higher Sharpe Ratio (1.52 vs 0.52), 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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