EMDV vs. MFEM

Last updated Apr 2, 2026

Compare and contrast key facts about ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM).

EMDV and MFEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMDV is a passively managed fund by ProShares that tracks the performance of the MSCI Emerging Markets Dividend Masters Index. It was launched on Jan 25, 2016. MFEM is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Emerging Market Index. It was launched on Aug 31, 2017. Both EMDV and MFEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMDV vs. MFEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). The values are adjusted to include any dividend payments, if applicable.

EMDV vs. MFEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	-1.51%	11.90%	0.06%	-1.03%	-18.19%	1.11%	-0.09%	14.93%	-7.52%	7.55%
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	8.85%	25.33%	4.73%	15.14%	-19.50%	10.77%	11.33%	15.26%	-14.64%	4.82%

Returns By Period

In the year-to-date period, EMDV achieves a -1.51% return, which is significantly lower than MFEM's 8.85% return.

EMDV

• 1D: 0.42%
• 1M: -1.99%
• YTD: -1.51%
• 6M: 2.47%
• 1Y: 8.67%
• 3Y*: 1.57%
• 5Y*: -2.81%
• 10Y*: 2.24%

MFEM

• 1D: 0.60%
• 1M: -8.10%
• YTD: 8.85%
• 6M: 12.85%
• 1Y: 35.46%
• 3Y*: 16.40%
• 5Y*: 6.50%
• 10Y*: —

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

EMDV vs. MFEM - Expense Ratio Comparison

EMDV has a 0.60% expense ratio, which is higher than MFEM's 0.49% expense ratio.

EMDV

ProShares MSCI Emerging Markets Dividend Growers ETF

MFEM

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

Return for Risk

EMDV vs. MFEM — Risk / Return Rank

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

EMDV

EMDV Risk / Return Rank: 37
EMDV Sharpe Ratio Rank: 36
EMDV Sortino Ratio Rank: 35
EMDV Omega Ratio Rank: 34
EMDV Calmar Ratio Rank: 42
EMDV Martin Ratio Rank: 39

MFEM

MFEM Risk / Return Rank: 87
MFEM Sharpe Ratio Rank: 88
MFEM Sortino Ratio Rank: 87
MFEM Omega Ratio Rank: 88
MFEM Calmar Ratio Rank: 86
MFEM Martin Ratio Rank: 85

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.

EMDV vs. MFEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) and PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM). 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.

	EMDV	MFEM	Difference
Sharpe ratio Return per unit of total volatility	0.73	1.90	-1.18
Sortino ratio Return per unit of downside risk	1.07	2.48	-1.41
Omega ratio Gain probability vs. loss probability	1.15	1.37	-0.22
Calmar ratio Return relative to maximum drawdown	1.19	2.80	-1.61
Martin ratio Return relative to average drawdown	3.94	10.54	-6.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMDV vs. MFEM - Sharpe Ratio Comparison

The current EMDV Sharpe Ratio is 0.73, which is lower than the MFEM Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of EMDV and MFEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EMDV	MFEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	1.90	-1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	0.41	-0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.33	-0.12

Correlation

The correlation between EMDV and MFEM is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EMDV vs. MFEM - Dividend Comparison

EMDV's dividend yield for the trailing twelve months is around 2.47%, less than MFEM's 2.56% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	2.47%	2.46%	2.79%	1.88%	3.68%	2.12%	3.12%	2.38%	1.27%	2.09%	2.87%
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF	2.56%	2.77%	5.89%	4.01%	7.01%	29.96%	1.70%	2.37%	1.18%	0.21%	0.00%

Drawdowns

EMDV vs. MFEM - Drawdown Comparison

The maximum EMDV drawdown since its inception was -39.20%, smaller than the maximum MFEM drawdown of -43.32%. Use the drawdown chart below to compare losses from any high point for EMDV and MFEM.

Drawdown Indicators

	EMDV	MFEM	Difference
Max Drawdown Largest peak-to-trough decline	-39.20%	-43.32%	+4.12%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-12.86%	+5.38%
Max Drawdown (5Y) Largest decline over 5 years	-34.97%	-31.39%	-3.58%
Max Drawdown (10Y) Largest decline over 10 years	-39.20%	—	—
Current Drawdown Current decline from peak	-17.05%	-9.77%	-7.28%
Average Drawdown Average peak-to-trough decline	-13.53%	-11.67%	-1.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	3.42%	-1.16%

Volatility

EMDV vs. MFEM - Volatility Comparison

The current volatility for ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) is 4.86%, while PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has a volatility of 8.92%. This indicates that EMDV experiences smaller price fluctuations and is considered to be less risky than MFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMDV	MFEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	8.92%	-4.06%
Volatility (6M) Calculated over the trailing 6-month period	8.30%	14.45%	-6.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	18.72%	-6.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	16.12%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	19.22%	-0.94%