EMCS vs. DEM

Last updated Jun 3, 2026

EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds - EMCS tracks the MSCI Emerging Markets Climate Select Index while DEM tracks the WisdomTree Emerging Markets Equity income Index. Both are passively managed. Over the past 5 years, EMCS returned 8.46%/yr vs 10.00%/yr for DEM. Their correlation of 0.82 suggests significant overlap in exposure. EMCS charges 0.15%/yr vs 0.63%/yr for DEM.

Performance

EMCS vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) 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, EMCS achieves a 35.45% return, which is significantly higher than DEM's 21.41% return.

EMCS

• 1D: 1.81%
• 1M: 14.49%
• YTD: 35.45%
• 6M: 39.15%
• 1Y: 67.22%
• 3Y*: 28.16%
• 5Y*: 8.46%
• 10Y*: —

DEM

• 1D: 0.98%
• 1M: 7.26%
• YTD: 21.41%
• 6M: 22.54%
• 1Y: 34.46%
• 3Y*: 19.79%
• 5Y*: 10.00%
• 10Y*: 10.58%

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

EMCS vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	35.45%	38.71%	10.12%	5.68%	-23.58%	-2.02%	19.72%	19.54%	-0.59%
DEM WisdomTree Emerging Markets Equity Income Fund	21.41%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-2.53%

Correlation

The correlation between EMCS and DEM 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	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.82

The correlation between EMCS and DEM has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

EMCS vs. DEM - Sectors Allocation Comparison

Sectors	EMCS	DEM
Technology	44.5%	17.4%
Financial Services	29.4%	21.9%
Consumer Cyclical	9.1%	5.0%
Communication Services	8.4%	3.0%
Basic Materials	2.6%	3.5%
Industrials	2.5%	9.5%
Energy	1.6%	6.1%
Real Estate	1.0%	3.0%
Utilities	0.8%	3.0%
Consumer Defensive	0.0%	5.8%
Healthcare	0.0%	0.6%

Return for Risk

EMCS vs. DEM — Risk / Return Rank

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

EMCS

EMCS Risk / Return Rank: 86
EMCS Sharpe Ratio Rank: 88
EMCS Sortino Ratio Rank: 84
EMCS Omega Ratio Rank: 86
EMCS Calmar Ratio Rank: 85
EMCS Martin Ratio Rank: 86

DEM

DEM Risk / Return Rank: 79
DEM Sharpe Ratio Rank: 78
DEM Sortino Ratio Rank: 77
DEM Omega Ratio Rank: 77
DEM Calmar Ratio Rank: 83
DEM Martin Ratio Rank: 79

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. DEM - Risk-Adjusted Trends Comparison

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

	EMCS	DEM	Difference
Sharpe ratio Return per unit of total volatility	3.03	2.56	+0.47
Sortino ratio Return per unit of downside risk	3.84	3.51	+0.33
Omega ratio Gain probability vs. loss probability	1.54	1.47	+0.08
Calmar ratio Return relative to maximum drawdown	4.78	4.42	+0.36
Martin ratio Return relative to average drawdown	18.54	15.70	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMCS vs. DEM - Sharpe Ratio Comparison

The current EMCS Sharpe Ratio is 3.03, which is comparable to the DEM Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of EMCS 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.

Sharpe Ratios by Period

	EMCS	DEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.03	2.56	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.66	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.22	+0.33

Drawdowns

EMCS vs. DEM - Drawdown Comparison

The maximum EMCS drawdown since its inception was -44.86%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for EMCS and DEM.

Drawdown Indicators

	EMCS	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-44.86%	-51.85%	+6.99%
Max Drawdown (1Y) Largest decline over 1 year	-14.32%	-7.89%	-6.43%
Max Drawdown (3Y) Largest decline over 3 years	-16.73%	-15.64%	-1.09%
Max Drawdown (5Y) Largest decline over 5 years	-42.06%	-27.18%	-14.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-16.62%	-12.90%	-3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	2.22%	+1.47%

Volatility

EMCS vs. DEM - Volatility Comparison

Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a higher volatility of 9.71% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.51%. This indicates that EMCS'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

	EMCS	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.71%	5.51%	+4.20%
Volatility (6M) Calculated over the trailing 6-month period	19.36%	11.25%	+8.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.33%	13.53%	+8.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.63%	15.33%	+5.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.65%	17.96%	+3.69%

EMCS vs. DEM - Expense Ratio Comparison

EMCS has a 0.15% expense ratio, which is lower than DEM's 0.63% expense ratio.

Dividends

EMCS vs. DEM - Dividend Comparison

EMCS's dividend yield for the trailing twelve months is around 1.23%, less than DEM's 3.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	3.71%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	1.23%	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

Can I hold both EMCS and DEM in my portfolio?

EMCS and DEM 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, EMCS or DEM?

EMCS has higher volatility (9.71%) compared to DEM (5.51%). In terms of maximum drawdown, EMCS dropped -44.86% vs DEM's -51.85%.

Which ETF is better, EMCS or DEM?

On 5-year performance, DEM leads with 10.00% vs 8.46% for EMCS. On fees, EMCS is cheaper at 0.15% per year. On volatility, DEM has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMCS or DEM?

Over the 5-year period, DEM has performed better with a 10.00% return vs 8.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMCS or DEM?

EMCS is cheaper with a 0.15% expense ratio, compared with 0.63% for DEM.

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

DEM has the higher dividend yield at 3.71%, compared with 1.23% for EMCS.

What is the main difference between EMCS and DEM?

EMCS tracks MSCI Emerging Markets Climate Select Index, while DEM tracks WisdomTree Emerging Markets Equity income Index. They also come from different issuers: Xtrackers and WisdomTree. Their fees differ too: 0.15% for EMCS and 0.63% for DEM.

Which has better risk-adjusted returns?

EMCS currently has the higher Sharpe Ratio (3.03 vs 2.56), 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.