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EMCS vs. DVYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMCS vs. DVYE

Last updated Jul 14, 2026
Documentation

EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) and DVYE (iShares Emerging Markets Dividend ETF) are both Emerging Markets Equities funds - EMCS tracks the MSCI Emerging Markets Climate Select Index while DVYE tracks the Dow Jones Emerging Markets Select Dividend Index (Net). Both are passively managed. Over the past 5 years, EMCS returned 7.01%/yr vs 5.16%/yr for DVYE. A 0.75 correlation means they provide meaningful diversification when combined. EMCS charges 0.15%/yr vs 0.50%/yr for DVYE.

Performance

EMCS vs. DVYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) and iShares Emerging Markets Dividend ETF (DVYE). 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 24.75% return, which is significantly higher than DVYE's 7.73% return.

EMCS

1D
-3.99%
1M
-3.97%
6M
17.62%
YTD
24.75%
1Y
44.48%
3Y*
23.07%
5Y*
7.01%
10Y*
—

DVYE

1D
-1.02%
1M
-2.86%
6M
4.22%
YTD
7.73%
1Y
19.32%
3Y*
19.05%
5Y*
5.16%
10Y*
6.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMCS vs. DVYE - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		24.75%38.71%10.12%5.68%-23.58%-2.02%19.72%19.54%-1.41%
DVYE
iShares Emerging Markets Dividend ETF		7.73%28.36%8.89%20.88%-31.38%11.02%-2.51%15.41%-2.50%

Correlation

The correlation between EMCS and DVYE is 0.66, 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

0.66

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

0.73

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

0.74

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

0.75

The correlation between EMCS and DVYE has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.

EMCS vs. DVYE - Sectors Allocation Comparison

Sectors
EMCS
DVYE

Technology

50.7%
8.4%

Financial Services

26.0%
28.5%

Consumer Cyclical

9.1%
4.3%

Communication Services

7.4%
1.7%

Basic Materials

2.6%
8.8%

Real Estate

1.8%
4.0%

Industrials

1.2%
17.0%

Energy

1.2%
18.2%

Consumer Defensive

0.0%
2.1%

Healthcare

0.0%

-

Utilities

0.0%
7.0%

Technology

EMCS
50.7%
DVYE
8.4%

Financial Services

EMCS
26.0%
DVYE
28.5%

Consumer Cyclical

EMCS
9.1%
DVYE
4.3%

Communication Services

EMCS
7.4%
DVYE
1.7%

Basic Materials

EMCS
2.6%
DVYE
8.8%

Real Estate

EMCS
1.8%
DVYE
4.0%

Industrials

EMCS
1.2%
DVYE
17.0%

Energy

EMCS
1.2%
DVYE
18.2%

Consumer Defensive

EMCS
0.0%
DVYE
2.1%

Healthcare

EMCS
0.0%
DVYE

-

Utilities

EMCS
0.0%
DVYE
7.0%

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

iShares Emerging Markets Dividend ETF

Often compared with EMCS:
EMCS vs. SNPDEMCS vs. TDECEMCS vs. BHYBEMCS vs. FEMEMCS vs. EDOGEMCS vs. SCHEEMCS vs. VEXC
Often compared with DVYE:
DVYE vs. DEMDVYE vs. DVYDVYE vs. DVYADVYE vs. SCHDDVYE vs. SCHEDVYE vs. IQDYDVYE vs. QQQ

Return for Risk

EMCS vs. DVYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMCS
EMCS Risk / Return Rank: 6969
Overall Rank
EMCS Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
EMCS Sortino Ratio Rank: 6060
Sortino Ratio Rank
EMCS Omega Ratio Rank: 6868
Omega Ratio Rank
EMCS Calmar Ratio Rank: 7676
Calmar Ratio Rank
EMCS Martin Ratio Rank: 7373
Martin Ratio Rank
DVYE
DVYE Risk / Return Rank: 4747
Overall Rank
DVYE Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
DVYE Sortino Ratio Rank: 4343
Sortino Ratio Rank
DVYE Omega Ratio Rank: 4444
Omega Ratio Rank
DVYE Calmar Ratio Rank: 5252
Calmar Ratio Rank
DVYE Martin Ratio Rank: 4747
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. DVYE - Risk-Adjusted Trends Comparison

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

EMCSDVYEDifference
Sharpe ratioReturn per unit of total volatility
1.71
1.30

+0.40

Sortino ratioReturn per unit of downside risk
2.24
1.81

+0.43

Omega ratioGain probability vs. loss probability

1.32

1.23

+0.09

Calmar ratioReturn relative to maximum drawdown

3.12

2.10

+1.02

Martin ratioReturn relative to average drawdown

10.68

6.20

+4.48

EMCS vs. DVYE - Sharpe Ratio Comparison

The current EMCS Sharpe Ratio is 1.71, which is higher than the DVYE Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of EMCS and DVYE, 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. DVYE - Drawdown Comparison

The maximum EMCS drawdown since its inception was -44.86%, smaller than the maximum DVYE drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for EMCS and DVYE.

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Drawdown Indicators

EMCSDVYEDifference

Max Drawdown

Largest peak-to-trough decline

-44.86%

-47.42%

+2.56%

Max Drawdown (1Y)

Largest decline over 1 year

-14.32%

-9.26%

-5.06%

Max Drawdown (3Y)

Largest decline over 3 years

-16.73%

-14.63%

-2.10%

Max Drawdown (5Y)

Largest decline over 5 years

-40.25%

-40.89%

+0.64%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.89%

—

Current Drawdown

Current decline from peak

-9.88%

-6.44%

-3.44%

Average Drawdown

Average peak-to-trough decline

-16.45%

-15.31%

-1.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.18%

3.12%

+1.06%

Volatility

EMCS vs. DVYE - Volatility Comparison

Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a higher volatility of 12.31% compared to iShares Emerging Markets Dividend ETF (DVYE) at 4.88%. This indicates that EMCS's price experiences larger fluctuations and is considered to be riskier than DVYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMCSDVYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.31%

4.88%

+7.43%

Volatility (6M)

Calculated over the trailing 6-month period

23.90%

12.58%

+11.32%

Volatility (1Y)

Calculated over the trailing 1-year period

26.27%

14.93%

+11.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.52%

17.12%

+4.40%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.12%

18.28%

+3.84%

EMCS vs. DVYE - Expense Ratio Comparison

EMCS has a 0.15% expense ratio, which is lower than DVYE's 0.50% expense ratio.

Dividends

EMCS vs. DVYE - Dividend Comparison

EMCS's dividend yield for the trailing twelve months is around 1.52%, less than DVYE's 5.00% yield.

PositionTTM20252024202320222021202020192018201720162015
DVYE
iShares Emerging Markets Dividend ETF		5.00%5.88%11.81%9.05%9.89%7.31%5.27%5.97%5.69%4.81%4.56%6.53%
EMCS
Xtrackers MSCI Emerging Markets Climate Selection ETF		1.52%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

EMCS and DVYE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMCS has higher volatility (12.31%) compared to DVYE (4.88%). In terms of maximum drawdown, EMCS dropped -44.86% vs DVYE's -47.42%.

On 5-year performance, EMCS leads with 7.01% vs 5.16% for DVYE. On fees, EMCS is cheaper at 0.15% per year. On volatility, DVYE has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EMCS has performed better with a 7.01% return vs 5.16%. 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 0.50% for DVYE.

DVYE has the higher dividend yield at 5.00%, compared with 1.52% for EMCS.

EMCS tracks MSCI Emerging Markets Climate Select Index, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index (Net). They also come from different issuers: Xtrackers and iShares. Their fees differ too: 0.15% for EMCS and 0.50% for DVYE.

EMCS currently has the higher Sharpe Ratio (1.71 vs 1.30), 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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