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EMCS vs. DBEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMCS vs. DBEM

Last updated Jun 24, 2026

EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and DBEM (Xtrackers MSCI Emerging Markets Hedged Equity ETF) are both Emerging Markets Equities funds - EMCS tracks the MSCI Emerging Markets Climate Select Index while DBEM tracks the MSCI EM US Dollar Hedged Index. Both are passively managed. Over the past 5 years, EMCS returned 7.51%/yr vs 9.17%/yr for DBEM. Their correlation of 0.93 suggests significant overlap in exposure. EMCS charges 0.15%/yr vs 0.66%/yr for DBEM.

Performance

EMCS vs. DBEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMCS achieves a 30.08% return, which is significantly higher than DBEM's 27.92% return.

EMCS

1D
-6.03%
1M
5.49%
YTD
30.08%
6M
31.16%
1Y
55.24%
3Y*
26.52%
5Y*
7.51%
10Y*
—

DBEM

1D
-5.21%
1M
2.97%
YTD
27.92%
6M
28.44%
1Y
54.61%
3Y*
24.78%
5Y*
9.17%
10Y*
10.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMCS vs. DBEM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		30.08%38.71%10.12%5.68%-23.58%-2.02%19.72%19.54%-1.41%
DBEM
Xtrackers MSCI Emerging Markets Hedged Equity ETF		27.92%30.42%10.61%10.53%-17.00%-2.26%18.12%16.77%-2.73%

Correlation

The correlation between EMCS and DBEM is 0.93, 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

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.94

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2018

0.93

The correlation between EMCS and DBEM has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

EMCS vs. DBEM - Sectors Allocation Comparison

Sectors
EMCS
DBEM

Technology

50.7%
43.6%

Financial Services

26.0%
17.9%

Consumer Cyclical

9.1%
8.4%

Communication Services

7.4%
6.1%

Basic Materials

2.6%
6.0%

Real Estate

1.8%
1.0%

Industrials

1.2%
6.7%

Energy

1.2%
3.5%

Consumer Defensive

0.0%
2.5%

Healthcare

0.0%
2.5%

Utilities

0.0%
1.8%

Technology

EMCS
50.7%
DBEM
43.6%

Financial Services

EMCS
26.0%
DBEM
17.9%

Consumer Cyclical

EMCS
9.1%
DBEM
8.4%

Communication Services

EMCS
7.4%
DBEM
6.1%

Basic Materials

EMCS
2.6%
DBEM
6.0%

Real Estate

EMCS
1.8%
DBEM
1.0%

Industrials

EMCS
1.2%
DBEM
6.7%

Energy

EMCS
1.2%
DBEM
3.5%

Consumer Defensive

EMCS
0.0%
DBEM
2.5%

Healthcare

EMCS
0.0%
DBEM
2.5%

Utilities

EMCS
0.0%
DBEM
1.8%

Compare stocks, funds, or ETFs

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

Xtrackers MSCI Emerging Markets Climate Selection ETF

Xtrackers MSCI Emerging Markets Hedged Equity ETF

Often compared with EMCS:
EMCS vs. SNPDEMCS vs. TDECEMCS vs. FEMEMCS vs. BHYBEMCS vs. EDOGEMCS vs. SCHEEMCS vs. VWO
Often compared with DBEM:
DBEM vs. ECLNDBEM vs. FEMKXDBEM vs. SPEMDBEM vs. VWODBEM vs. IEFADBEM vs. URTHDBEM vs. ESGE

Return for Risk

EMCS vs. DBEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMCS
EMCS Risk / Return Rank: 7575
Overall Rank
EMCS Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
EMCS Sortino Ratio Rank: 6666
Sortino Ratio Rank
EMCS Omega Ratio Rank: 7676
Omega Ratio Rank
EMCS Calmar Ratio Rank: 8080
Calmar Ratio Rank
EMCS Martin Ratio Rank: 8080
Martin Ratio Rank
DBEM
DBEM Risk / Return Rank: 8787
Overall Rank
DBEM Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
DBEM Sortino Ratio Rank: 8080
Sortino Ratio Rank
DBEM Omega Ratio Rank: 8686
Omega Ratio Rank
DBEM Calmar Ratio Rank: 9090
Calmar Ratio Rank
DBEM Martin Ratio Rank: 9090
Martin Ratio Rank
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.

EMCS vs. DBEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM). 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.

EMCSDBEMDifference
Sharpe ratioReturn per unit of total volatility
2.19
2.65

-0.47

Sortino ratioReturn per unit of downside risk
2.77
3.28

-0.51

Omega ratioGain probability vs. loss probability

1.41

1.49

-0.08

Calmar ratioReturn relative to maximum drawdown

3.88

5.22

-1.35

Martin ratioReturn relative to average drawdown

14.31

19.15

-4.84

EMCS vs. DBEM - Sharpe Ratio Comparison

The current EMCS Sharpe Ratio is 2.19, which is comparable to the DBEM Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of EMCS and DBEM, 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

EMCS vs. DBEM - Drawdown Comparison

The maximum EMCS drawdown since its inception was -44.86%, which is greater than DBEM's maximum drawdown of -33.51%. Use the drawdown chart below to compare losses from any high point for EMCS and DBEM.

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Drawdown Indicators

EMCSDBEMDifference

Max Drawdown

Largest peak-to-trough decline

-44.86%

-33.51%

-11.35%

Max Drawdown (1Y)

Largest decline over 1 year

-14.32%

-10.51%

-3.81%

Max Drawdown (3Y)

Largest decline over 3 years

-16.73%

-15.12%

-1.61%

Max Drawdown (5Y)

Largest decline over 5 years

-42.06%

-30.48%

-11.58%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.51%

—

Current Drawdown

Current decline from peak

-6.03%

-5.21%

-0.82%

Average Drawdown

Average peak-to-trough decline

-16.52%

-11.66%

-4.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.87%

2.86%

+1.01%

Volatility

EMCS vs. DBEM - Volatility Comparison

Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a higher volatility of 14.09% compared to Xtrackers MSCI Emerging Markets Hedged Equity ETF (DBEM) at 11.58%. This indicates that EMCS's price experiences larger fluctuations and is considered to be riskier than DBEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMCSDBEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.09%

11.58%

+2.51%

Volatility (6M)

Calculated over the trailing 6-month period

23.01%

18.66%

+4.35%

Volatility (1Y)

Calculated over the trailing 1-year period

25.41%

20.69%

+4.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.33%

17.70%

+3.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.04%

17.39%

+4.65%

EMCS vs. DBEM - Expense Ratio Comparison

EMCS has a 0.15% expense ratio, which is lower than DBEM's 0.66% expense ratio.

Dividends

EMCS vs. DBEM - Dividend Comparison

EMCS's dividend yield for the trailing twelve months is around 1.46%, less than DBEM's 2.06% yield.

PositionTTM20252024202320222021202020192018201720162015
DBEM
Xtrackers MSCI Emerging Markets Hedged Equity ETF		2.06%1.84%2.48%2.55%2.65%1.77%1.74%2.59%2.85%1.51%1.59%3.49%
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		1.46%1.66%0.67%3.07%2.26%1.46%1.40%3.56%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.93, EMCS and DBEM 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.

EMCS has higher volatility (14.09%) compared to DBEM (11.58%). In terms of maximum drawdown, EMCS dropped -44.86% vs DBEM's -33.51%.

On 5-year performance, DBEM leads with 9.17% vs 7.51% for EMCS. On fees, EMCS is cheaper at 0.15% per year. On volatility, DBEM has been the lower-risk option at 11.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DBEM has performed better with a 9.17% return vs 7.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMCS is cheaper with a 0.15% expense ratio, compared with 0.66% for DBEM.

DBEM has the higher dividend yield at 2.06%, compared with 1.46% for EMCS.

EMCS tracks MSCI Emerging Markets Climate Select Index, while DBEM tracks MSCI EM US Dollar Hedged Index. They also come from different issuers: Xtrackers and Deutsche Bank. Their fees differ too: 0.15% for EMCS and 0.66% for DBEM.

DBEM currently has the higher Sharpe Ratio (2.65 vs 2.19), 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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