EEMA vs. ADIV

Last updated Jun 23, 2026

EEMA (iShares MSCI Emerging Markets Asia ETF) and ADIV (SmartETFs Asia Pacific Dividend Builder ETF) are both Asia Pacific Equities funds. EEMA is passively managed, while ADIV is actively managed. Over the past 5 years, EEMA returned 7.89%/yr vs 6.94%/yr for ADIV. Their correlation of 0.84 suggests significant overlap in exposure. EEMA charges 0.50%/yr vs 0.78%/yr for ADIV.

Performance

EEMA vs. ADIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Asia ETF (EEMA) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMA achieves a 29.62% return, which is significantly higher than ADIV's 8.01% return.

EEMA

• 1D: 0.76%
• 1M: 7.84%
• YTD: 29.62%
• 6M: 31.87%
• 1Y: 55.09%
• 3Y*: 25.38%
• 5Y*: 7.89%
• 10Y*: 11.30%

ADIV

• 1D: 0.21%
• 1M: 2.00%
• YTD: 8.01%
• 6M: 7.98%
• 1Y: 17.51%
• 3Y*: 18.18%
• 5Y*: 6.94%
• 10Y*: —

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

EEMA vs. ADIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EEMA iShares MSCI Emerging Markets Asia ETF	29.62%	33.27%	10.23%	6.57%	-21.49%	-7.77%
ADIV SmartETFs Asia Pacific Dividend Builder ETF	8.01%	21.86%	14.47%	12.28%	-18.00%	1.41%

Correlation

The correlation between EEMA and ADIV is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.84

The correlation between EEMA and ADIV has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

EEMA vs. ADIV - Sectors Allocation Comparison

Sectors	EEMA	ADIV
Technology	43.4%	26.6%
Financial Services	15.3%	31.8%
Consumer Cyclical	10.4%	15.4%
Industrials	8.4%	2.3%
Communication Services	6.6%	3.2%
Basic Materials	4.4%	-
Healthcare	3.5%	5.0%
Energy	2.8%	-
Consumer Defensive	2.6%	5.1%
Utilities	1.7%	2.4%
Real Estate	0.9%	8.3%

Return for Risk

EEMA vs. ADIV — Risk / Return Rank

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

EEMA

EEMA Risk / Return Rank: 79
EEMA Sharpe Ratio Rank: 82
EEMA Sortino Ratio Rank: 76
EEMA Omega Ratio Rank: 81
EEMA Calmar Ratio Rank: 78
EEMA Martin Ratio Rank: 76

ADIV

ADIV Risk / Return Rank: 36
ADIV Sharpe Ratio Rank: 37
ADIV Sortino Ratio Rank: 36
ADIV Omega Ratio Rank: 36
ADIV Calmar Ratio Rank: 35
ADIV Martin Ratio Rank: 37

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.

EEMA vs. ADIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Asia ETF (EEMA) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). 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.

	EEMA	ADIV	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.28	+1.24
Sortino ratio: Return per unit of downside risk	3.22	1.82	+1.41
Omega ratio: Gain probability vs. loss probability	1.46	1.23	+0.23
Calmar ratio: Return relative to maximum drawdown	3.87	1.73	+2.14
Martin ratio: Return relative to average drawdown	14.07	5.62	+8.45

EEMA vs. ADIV - Sharpe Ratio Comparison

The current EEMA Sharpe Ratio is 2.52, which is higher than the ADIV Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of EEMA and ADIV, 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

EEMA vs. ADIV - Drawdown Comparison

The maximum EEMA drawdown since its inception was -44.18%, which is greater than ADIV's maximum drawdown of -31.55%. Use the drawdown chart below to compare losses from any high point for EEMA and ADIV.

Drawdown Indicators

	EEMA	ADIV	Difference
Max Drawdown Largest peak-to-trough decline	-44.18%	-31.55%	-12.63%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	-10.15%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-20.23%	-18.53%	-1.70%
Max Drawdown (5Y) Largest decline over 5 years	-40.46%	-31.55%	-8.91%
Max Drawdown (10Y) Largest decline over 10 years	-44.18%	—	—
Current Drawdown Current decline from peak	0.00%	-1.19%	+1.19%
Average Drawdown Average peak-to-trough decline	-13.94%	-8.39%	-5.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	3.12%	+0.81%

Volatility

EEMA vs. ADIV - Volatility Comparison

iShares MSCI Emerging Markets Asia ETF (EEMA) has a higher volatility of 10.29% compared to SmartETFs Asia Pacific Dividend Builder ETF (ADIV) at 5.10%. This indicates that EEMA's price experiences larger fluctuations and is considered to be riskier than ADIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMA	ADIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.29%	5.10%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	19.37%	11.08%	+8.29%
Volatility (1Y) Calculated over the trailing 1-year period	22.05%	13.80%	+8.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.75%	16.56%	+4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.03%	16.38%	+4.65%

EEMA vs. ADIV - Expense Ratio Comparison

EEMA has a 0.50% expense ratio, which is lower than ADIV's 0.78% expense ratio.

Dividends

EEMA vs. ADIV - Dividend Comparison

EEMA's dividend yield for the trailing twelve months is around 1.27%, less than ADIV's 3.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	3.59%	2.77%	4.83%	4.55%	2.98%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EEMA iShares MSCI Emerging Markets Asia ETF	1.27%	1.48%	1.74%	2.02%	1.78%	2.19%	1.15%	1.86%	2.17%	1.74%	1.74%	2.44%

Frequently Asked Questions

Can I hold both EEMA and ADIV in my portfolio?

EEMA and ADIV have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMA or ADIV?

EEMA has higher volatility (10.29%) compared to ADIV (5.10%). In terms of maximum drawdown, EEMA dropped -44.18% vs ADIV's -31.55%.

Which ETF is better, EEMA or ADIV?

On 5-year performance, EEMA leads with 7.89% vs 6.94% for ADIV. On fees, EEMA is cheaper at 0.50% per year. On volatility, ADIV has been the lower-risk option at 5.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMA or ADIV?

Over the 5-year period, EEMA has performed better with a 7.89% return vs 6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMA or ADIV?

EEMA is cheaper with a 0.50% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, EEMA or ADIV?

ADIV has the higher dividend yield at 3.59%, compared with 1.27% for EEMA.

What is the main difference between EEMA and ADIV?

They also come from different issuers: iShares and Guinness Atkinson Asset Management. Their fees differ too: 0.50% for EEMA and 0.78% for ADIV.

Which has better risk-adjusted returns?

EEMA currently has the higher Sharpe Ratio (2.52 vs 1.28), 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.