EMDM vs. VOLT

Last updated Jun 14, 2026

EMDM (First Trust Bloomberg Emerging Market Democracies ETF) and VOLT (Tema Electrification ETF) are both exchange-traded funds - EMDM is a Emerging Markets Diversified fund tracking the Bloomberg Emerging Market Democracies Index - Benchmark TR Net, while VOLT is a Energy Equities fund actively managed by Tema. EMDM is passively managed, while VOLT is actively managed. Over the past year, EMDM returned 83.08% vs 62.39% for VOLT. A 0.60 correlation means they provide meaningful diversification when combined. Both charge a 0.75% expense ratio.

Performance

EMDM vs. VOLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Bloomberg Emerging Market Democracies ETF (EMDM) and Tema Electrification ETF (VOLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EMDM having a 36.28% return and VOLT slightly higher at 36.32%.

EMDM

• 1D: 0.70%
• 1M: 6.11%
• YTD: 36.28%
• 6M: 42.03%
• 1Y: 83.08%
• 3Y*: 30.34%
• 5Y*: —
• 10Y*: —

VOLT

• 1D: 1.28%
• 1M: -0.71%
• YTD: 36.32%
• 6M: 35.03%
• 1Y: 62.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMDM vs. VOLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMDM First Trust Bloomberg Emerging Market Democracies ETF	36.28%	59.68%	-3.92%
VOLT Tema Electrification ETF	36.32%	25.92%	-8.98%

Correlation

The correlation between EMDM and VOLT is 0.57, 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	0.57
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.60

The correlation between EMDM and VOLT has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.

Return for Risk

EMDM vs. VOLT — Risk / Return Rank

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

EMDM

EMDM Risk / Return Rank: 92
EMDM Sharpe Ratio Rank: 94
EMDM Sortino Ratio Rank: 91
EMDM Omega Ratio Rank: 92
EMDM Calmar Ratio Rank: 91
EMDM Martin Ratio Rank: 92

VOLT

VOLT Risk / Return Rank: 91
VOLT Sharpe Ratio Rank: 92
VOLT Sortino Ratio Rank: 89
VOLT Omega Ratio Rank: 88
VOLT Calmar Ratio Rank: 94
VOLT Martin Ratio Rank: 90

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.

EMDM vs. VOLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Emerging Market Democracies ETF (EMDM) and Tema Electrification ETF (VOLT). 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.

	EMDM	VOLT	Difference
Sharpe ratio: Return per unit of total volatility	3.21	2.87	+0.35
Sortino ratio: Return per unit of downside risk	3.78	3.62	+0.16
Omega ratio: Gain probability vs. loss probability	1.55	1.47	+0.08
Calmar ratio: Return relative to maximum drawdown	5.18	6.35	-1.18
Martin ratio: Return relative to average drawdown	20.59	17.90	+2.69

EMDM vs. VOLT - Sharpe Ratio Comparison

The current EMDM Sharpe Ratio is 3.21, which is comparable to the VOLT Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of EMDM and VOLT, 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

EMDM vs. VOLT - Drawdown Comparison

The maximum EMDM drawdown since its inception was -18.81%, smaller than the maximum VOLT drawdown of -23.40%. Use the drawdown chart below to compare losses from any high point for EMDM and VOLT.

Drawdown Indicators

	EMDM	VOLT	Difference
Max Drawdown Largest peak-to-trough decline	-18.81%	-23.40%	+4.59%
Max Drawdown (1Y) Largest decline over 1 year	-15.65%	-9.59%	-6.06%
Max Drawdown (3Y) Largest decline over 3 years	-18.81%	—	—
Current Drawdown Current decline from peak	-3.27%	-4.76%	+1.49%
Average Drawdown Average peak-to-trough decline	-4.08%	-5.19%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	3.40%	+0.53%

Volatility

EMDM vs. VOLT - Volatility Comparison

First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a higher volatility of 12.16% compared to Tema Electrification ETF (VOLT) at 9.23%. This indicates that EMDM's price experiences larger fluctuations and is considered to be riskier than VOLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMDM	VOLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.16%	9.23%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	22.86%	18.19%	+4.67%
Volatility (1Y) Calculated over the trailing 1-year period	25.23%	21.28%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.36%	24.40%	-4.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.36%	24.40%	-4.04%

EMDM vs. VOLT - Expense Ratio Comparison

Both EMDM and VOLT have an expense ratio of 0.75%.

Dividends

EMDM vs. VOLT - Dividend Comparison

EMDM's dividend yield for the trailing twelve months is around 2.62%, more than VOLT's 0.33% yield.

Position	TTM	2025	2024	2023
EMDM First Trust Bloomberg Emerging Market Democracies ETF	2.62%	3.57%	5.87%	2.16%
VOLT Tema Electrification ETF	0.33%	0.46%	0.01%	0.00%

Frequently Asked Questions

Can I hold both EMDM and VOLT in my portfolio?

EMDM and VOLT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMDM or VOLT?

EMDM has higher volatility (12.16%) compared to VOLT (9.23%). In terms of maximum drawdown, EMDM dropped -18.81% vs VOLT's -23.40%.

Which ETF is better, EMDM or VOLT?

On 1-year performance, EMDM leads with 83.08% vs 62.39% for VOLT. Both ETFs have the same 0.75% expense ratio. On volatility, VOLT has been the lower-risk option at 9.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMDM or VOLT?

Over the 1-year period, EMDM has performed better with a 83.08% return vs 62.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMDM or VOLT?

EMDM and VOLT have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, EMDM or VOLT?

EMDM has the higher dividend yield at 2.62%, compared with 0.33% for VOLT.

What is the main difference between EMDM and VOLT?

EMDM is categorized as Emerging Markets Diversified, while VOLT is Energy Equities. They also come from different issuers: First Trust and Tema.

Which has better risk-adjusted returns?

EMDM currently has the higher Sharpe Ratio (3.21 vs 2.87), 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.