EEMV vs. DEM

Last updated Jul 14, 2026

EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds - EEMV tracks the MSCI Emerging Markets Minimum Volatility Index while DEM tracks the WisdomTree Emerging Markets Equity Income Index. Both are passively managed. Over the past 10 years, EEMV returned 5.83%/yr vs 9.22%/yr for DEM. Their correlation of 0.89 suggests significant overlap in exposure. EEMV charges 0.25%/yr vs 0.63%/yr for DEM.

Performance

EEMV vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMV achieves a 13.53% return, which is significantly lower than DEM's 16.70% return. Over the past 10 years, EEMV has underperformed DEM with an annualized return of 5.83%, while DEM has yielded a comparatively higher 9.22% annualized return.

EEMV

• 1D: -2.96%
• 1M: -3.04%
• 6M: 9.81%
• YTD: 13.53%
• 1Y: 17.56%
• 3Y*: 11.90%
• 5Y*: 5.30%
• 10Y*: 5.83%

DEM

• 1D: -1.82%
• 1M: -2.61%
• 6M: 13.85%
• YTD: 16.70%
• 1Y: 22.03%
• 3Y*: 16.63%
• 5Y*: 9.77%
• 10Y*: 9.22%

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

EEMV vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	13.53%	13.45%	7.98%	7.75%	-13.94%	5.05%	6.90%	7.83%	-5.81%	27.28%
DEM WisdomTree Emerging Markets Equity Income Fund	16.70%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%

Correlation

The correlation between EEMV and DEM is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.89

The correlation between EEMV and DEM has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

EEMV vs. DEM - Sectors Allocation Comparison

Sectors	EEMV	DEM
Technology	36.5%	17.3%
Financial Services	18.0%	21.9%
Communication Services	10.1%	3.0%
Industrials	6.6%	9.7%
Consumer Cyclical	6.2%	5.1%
Consumer Defensive	5.6%	5.8%
Healthcare	5.4%	0.6%
Utilities	4.4%	3.0%
Energy	3.6%	6.1%
Basic Materials	2.9%	3.5%
Real Estate	0.6%	2.9%

Return for Risk

EEMV vs. DEM — Risk / Return Rank

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

EEMV

EEMV Risk / Return Rank: 43
EEMV Sharpe Ratio Rank: 39
EEMV Sortino Ratio Rank: 36
EEMV Omega Ratio Rank: 43
EEMV Calmar Ratio Rank: 47
EEMV Martin Ratio Rank: 49

DEM

DEM Risk / Return Rank: 60
DEM Sharpe Ratio Rank: 56
DEM Sortino Ratio Rank: 54
DEM Omega Ratio Rank: 55
DEM Calmar Ratio Rank: 70
DEM Martin Ratio Rank: 64

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.

EEMV vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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.

	EEMV	DEM	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.51	-0.39
Sortino ratio: Return per unit of downside risk	1.57	2.10	-0.53
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	1.91	2.80	-0.89
Martin ratio: Return relative to average drawdown	6.48	9.03	-2.55

EEMV vs. DEM - Sharpe Ratio Comparison

The current EEMV Sharpe Ratio is 1.11, which is comparable to the DEM Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of EEMV and DEM, 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

EEMV vs. DEM - Drawdown Comparison

The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for EEMV and DEM.

Drawdown Indicators

	EEMV	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-31.56%	-51.85%	+20.29%
Max Drawdown (1Y) Largest decline over 1 year	-9.22%	-7.89%	-1.33%
Max Drawdown (3Y) Largest decline over 3 years	-12.47%	-15.64%	+3.17%
Max Drawdown (5Y) Largest decline over 5 years	-21.90%	-27.18%	+5.28%
Max Drawdown (10Y) Largest decline over 10 years	-31.56%	-37.79%	+6.23%
Current Drawdown Current decline from peak	-6.32%	-3.87%	-2.45%
Average Drawdown Average peak-to-trough decline	-7.94%	-12.84%	+4.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.45%	+0.27%

Volatility

EEMV vs. DEM - Volatility Comparison

iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) has a higher volatility of 7.90% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.76%. This indicates that EEMV's price experiences larger fluctuations and is considered to be riskier than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMV	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.90%	5.76%	+2.14%
Volatility (6M) Calculated over the trailing 6-month period	14.84%	13.00%	+1.84%
Volatility (1Y) Calculated over the trailing 1-year period	15.86%	14.73%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.49%	15.57%	-3.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.99%	17.84%	-3.85%

EEMV vs. DEM - Expense Ratio Comparison

EEMV has a 0.25% expense ratio, which is lower than DEM's 0.63% expense ratio.

Dividends

EEMV vs. DEM - Dividend Comparison

EEMV's dividend yield for the trailing twelve months is around 2.25%, less than DEM's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.19%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF	2.25%	2.65%	3.50%	2.75%	1.93%	2.14%	2.45%	2.63%	2.46%	2.34%	2.79%	2.55%

Frequently Asked Questions

Can I hold both EEMV and DEM in my portfolio?

EEMV and DEM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMV or DEM?

EEMV has higher volatility (7.90%) compared to DEM (5.76%). In terms of maximum drawdown, EEMV dropped -31.56% vs DEM's -51.85%.

Which ETF is better, EEMV or DEM?

On 10-year performance, DEM leads with 9.22% vs 5.83% for EEMV. On fees, EEMV is cheaper at 0.25% per year. On volatility, DEM has been the lower-risk option at 5.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMV or DEM?

Over the 10-year period, DEM has performed better with a 9.22% return vs 5.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMV or DEM?

EEMV is cheaper with a 0.25% expense ratio, compared with 0.63% for DEM.

Which ETF pays a higher dividend yield, EEMV or DEM?

DEM has the higher dividend yield at 4.19%, compared with 2.25% for EEMV.

What is the main difference between EEMV and DEM?

EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while DEM tracks WisdomTree Emerging Markets Equity Income Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for EEMV and 0.63% for DEM.

Which has better risk-adjusted returns?

DEM currently has the higher Sharpe Ratio (1.51 vs 1.11), 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.