EEMS vs. DFEV
EEMS (iShares MSCI Emerging Markets Small-Cap ETF) and DFEV (Dimensional Emerging Markets Value ETF) are both Emerging Markets Diversified funds. EEMS is passively managed, while DFEV is actively managed. Over the past 3 years, EEMS returned 15.45%/yr vs 24.39%/yr for DFEV. Their correlation of 0.89 suggests significant overlap in exposure. EEMS charges 0.73%/yr vs 0.43%/yr for DFEV.
Performance
EEMS vs. DFEV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EEMS achieves a 11.49% return, which is significantly lower than DFEV's 25.45% return.
EEMS
- 1D
- -4.01%
- 1M
- -2.11%
- YTD
- 11.49%
- 6M
- 12.59%
- 1Y
- 23.79%
- 3Y*
- 15.45%
- 5Y*
- 6.33%
- 10Y*
- 9.32%
DFEV
- 1D
- -5.33%
- 1M
- 2.00%
- YTD
- 25.45%
- 6M
- 26.35%
- 1Y
- 48.75%
- 3Y*
- 24.39%
- 5Y*
- —
- 10Y*
- —
EEMS vs. DFEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 11.49% | 19.78% | 3.13% | 23.09% | -9.52% |
DFEV Dimensional Emerging Markets Value ETF | 25.45% | 32.54% | 7.26% | 15.52% | -6.08% |
Correlation
The correlation between EEMS and DFEV is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Apr 27, 2022 | 0.89 |
The correlation between EEMS and DFEV has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EEMS vs. DFEV — Risk / Return Rank
EEMS
DFEV
EEMS vs. DFEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) and Dimensional Emerging Markets Value ETF (DFEV). 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.
| EEMS | DFEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.47 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 4.31 | -2.12 |
| Martin ratioReturn relative to average drawdown | 7.37 | 15.41 | -8.05 |
Loading charts...
Drawdowns
EEMS vs. DFEV - Drawdown Comparison
The maximum EEMS drawdown since its inception was -48.89%, which is greater than DFEV's maximum drawdown of -18.49%. Use the drawdown chart below to compare losses from any high point for EEMS and DFEV.
Loading charts...
Drawdown Indicators
| EEMS | DFEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.89% | -18.49% | -30.40% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -11.35% | +0.48% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -17.94% | -1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -27.07% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -48.89% | — | — |
Current DrawdownCurrent decline from peak | -5.08% | -5.33% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -4.63% | -5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.17% | +0.07% |
Volatility
EEMS vs. DFEV - Volatility Comparison
The current volatility for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) is 9.86%, while Dimensional Emerging Markets Value ETF (DFEV) has a volatility of 11.67%. This indicates that EEMS experiences smaller price fluctuations and is considered to be less risky than DFEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EEMS | DFEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.86% | 11.67% | -1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 18.08% | -0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 20.00% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.50% | 17.09% | -0.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 17.09% | +1.03% |
EEMS vs. DFEV - Expense Ratio Comparison
EEMS has a 0.73% expense ratio, which is higher than DFEV's 0.43% expense ratio.
Dividends
EEMS vs. DFEV - Dividend Comparison
EEMS's dividend yield for the trailing twelve months is around 2.86%, more than DFEV's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFEV Dimensional Emerging Markets Value ETF | 2.09% | 2.69% | 3.17% | 3.47% | 3.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 2.86% | 3.09% | 2.60% | 2.69% | 0.89% | 3.56% | 2.14% | 2.64% | 3.06% | 2.47% | 2.51% | 2.33% |
Frequently Asked Questions
With a correlation of 0.90, EEMS and DFEV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DFEV has higher volatility (11.67%) compared to EEMS (9.86%). In terms of maximum drawdown, EEMS dropped -48.89% vs DFEV's -18.49%.
On 3-year performance, DFEV leads with 24.39% vs 15.45% for EEMS. On fees, DFEV is cheaper at 0.43% per year. On volatility, EEMS has been the lower-risk option at 9.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DFEV has performed better with a 24.39% return vs 15.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFEV is cheaper with a 0.43% expense ratio, compared with 0.73% for EEMS.
EEMS has the higher dividend yield at 2.86%, compared with 2.09% for DFEV.
They also come from different issuers: iShares and Dimensional. Their fees differ too: 0.73% for EEMS and 0.43% for DFEV.
DFEV currently has the higher Sharpe Ratio (2.45 vs 1.25), 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.
Find the right allocation for EEMS and DFEV
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer