EEMS vs. DRESX
EEMS (iShares MSCI Emerging Markets Small-Cap ETF) and DRESX (Driehaus Emerging Markets Small Cap Growth Fund) are both Emerging Markets Diversified funds. Over the past 10 years, EEMS returned 9.32%/yr vs 11.61%/yr for DRESX. A 0.68 correlation means they provide meaningful diversification when combined. EEMS charges 0.73%/yr vs 1.24%/yr for DRESX.
Performance
EEMS vs. DRESX - Performance Comparison
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Returns By Period
In the year-to-date period, EEMS achieves a 11.49% return, which is significantly lower than DRESX's 20.61% return. Over the past 10 years, EEMS has underperformed DRESX with an annualized return of 9.32%, while DRESX has yielded a comparatively higher 11.61% annualized 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%
DRESX
- 1D
- 0.13%
- 1M
- 0.51%
- YTD
- 20.61%
- 6M
- 21.30%
- 1Y
- 40.15%
- 3Y*
- 21.60%
- 5Y*
- 8.75%
- 10Y*
- 11.61%
EEMS vs. DRESX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EEMS iShares MSCI Emerging Markets Small-Cap ETF | 11.49% | 19.78% | 3.13% | 23.09% | -19.12% | 18.12% | 19.47% | 11.25% | -18.98% | 34.80% |
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 20.61% | 24.08% | 14.86% | 10.30% | -21.17% | 15.93% | 33.56% | 33.70% | -24.00% | 33.30% |
Correlation
The correlation between EEMS and DRESX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2011 | 0.68 |
The correlation between EEMS and DRESX shifts across timeframes, from 0.68 (all time) to 0.79 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EEMS vs. DRESX — Risk / Return Rank
EEMS
DRESX
EEMS vs. DRESX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) and Driehaus Emerging Markets Small Cap Growth Fund (DRESX). 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 | DRESX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.47 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.20 | 3.79 | -1.59 |
| Martin ratioReturn relative to average drawdown | 7.37 | 11.86 | -4.49 |
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Drawdowns
EEMS vs. DRESX - Drawdown Comparison
The maximum EEMS drawdown since its inception was -48.89%, which is greater than DRESX's maximum drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for EEMS and DRESX.
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Drawdown Indicators
| EEMS | DRESX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.89% | -33.38% | -15.51% |
Max Drawdown (1Y)Largest decline over 1 year | -10.87% | -10.92% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -17.65% | -2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -27.07% | -25.88% | -1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -48.89% | -33.38% | -15.51% |
Current DrawdownCurrent decline from peak | -5.08% | -4.86% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -10.48% | -9.89% | -0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.48% | -0.24% |
Volatility
EEMS vs. DRESX - Volatility Comparison
iShares MSCI Emerging Markets Small-Cap ETF (EEMS) has a higher volatility of 9.86% compared to Driehaus Emerging Markets Small Cap Growth Fund (DRESX) at 7.61%. This indicates that EEMS's price experiences larger fluctuations and is considered to be riskier than DRESX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EEMS | DRESX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.86% | 7.61% | +2.25% |
Volatility (6M)Calculated over the trailing 6-month period | 17.19% | 14.59% | +2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 16.64% | +2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.50% | 15.01% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.12% | 16.04% | +2.08% |
EEMS vs. DRESX - Expense Ratio Comparison
EEMS has a 0.73% expense ratio, which is lower than DRESX's 1.24% expense ratio.
Dividends
EEMS vs. DRESX - Dividend Comparison
EEMS's dividend yield for the trailing twelve months is around 2.86%, more than DRESX's 1.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRESX Driehaus Emerging Markets Small Cap Growth Fund | 1.86% | 2.25% | 0.68% | 1.09% | 0.00% | 0.04% | 0.65% | 0.41% | 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
EEMS and DRESX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EEMS has higher volatility (9.86%) compared to DRESX (7.61%). In terms of maximum drawdown, EEMS dropped -48.89% vs DRESX's -33.38%.
DRESX currently has the higher Sharpe Ratio (2.49 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.
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