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EMGF vs. EMMF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMGF vs. EMMF

Last updated Aug 4, 2026
Documentation

EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) and EMMF (WisdomTree Emerging Markets Multifactor Fund) are both Emerging Markets Equities funds. EMGF is passively managed, while EMMF is actively managed. Over the past 5 years, EMGF returned 9.15%/yr vs 9.81%/yr for EMMF. Their correlation of 0.90 means they have usually moved in the same direction. EMGF charges 0.45%/yr vs 0.48%/yr for EMMF.

Performance

EMGF vs. EMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and WisdomTree Emerging Markets Multifactor Fund (EMMF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMGF achieves a 19.41% return, which is significantly higher than EMMF's 16.83% return.

EMGF

1D
0.66%
1M
-2.70%
6M
9.84%
YTD
19.41%
1Y
34.88%
3Y*
21.74%
5Y*
9.15%
10Y*
9.48%
ALL TIME*
10.09%

EMMF

1D
0.84%
1M
-2.55%
6M
8.03%
YTD
16.83%
1Y
31.17%
3Y*
18.09%
5Y*
9.81%
10Y*
—
ALL TIME*
7.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EMGF

iShares Edge MSCI Multifactor Emerging Markets ETF
$9.70M$12.21M$11.83M

EMMF

WisdomTree Emerging Markets Multifactor Fund
$691.29K$543.19K$576.00K

EMGF vs. EMMF - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		19.41%31.41%9.06%10.86%-16.55%6.65%10.27%20.96%-13.92%
EMMF
WisdomTree Emerging Markets Multifactor Fund		16.83%21.22%9.45%20.59%-13.47%5.97%9.25%2.30%-6.45%

Correlation

The correlation between EMGF and EMMF is 0.94, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.94

Correlation (3Y)
Balances recent behavior with more history.

0.90

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.91

Correlation (All Time)
Calculated using the full available price history since Aug 10, 2018

0.90

The correlation between EMGF and EMMF has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

EMGF vs. EMMF - Sectors Allocation Comparison

Sectors
EMGF
EMMF

Technology

42.6%
39.6%

Financial Services

17.8%
8.5%

Consumer Cyclical

8.2%
11.0%

Industrials

7.5%
12.4%

Communication Services

6.4%
6.8%

Basic Materials

5.0%
8.0%

Energy

3.4%
3.3%

Consumer Defensive

3.1%
2.2%

Healthcare

2.7%
4.5%

Utilities

2.2%
2.9%

Real Estate

1.0%
0.9%

Technology

EMGF
42.6%
EMMF
39.6%

Financial Services

EMGF
17.8%
EMMF
8.5%

Consumer Cyclical

EMGF
8.2%
EMMF
11.0%

Industrials

EMGF
7.5%
EMMF
12.4%

Communication Services

EMGF
6.4%
EMMF
6.8%

Basic Materials

EMGF
5.0%
EMMF
8.0%

Energy

EMGF
3.4%
EMMF
3.3%

Consumer Defensive

EMGF
3.1%
EMMF
2.2%

Healthcare

EMGF
2.7%
EMMF
4.5%

Utilities

EMGF
2.2%
EMMF
2.9%

Real Estate

EMGF
1.0%
EMMF
0.9%

Compare stocks, funds, or ETFs

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

iShares Edge MSCI Multifactor Emerging Markets ETF

WisdomTree Emerging Markets Multifactor Fund

Often compared with EMGF:
EMGF vs. EEMEMGF vs. SPEMEMGF vs. AVESEMGF vs. FDEMEMGF vs. XCEMEMGF vs. VWOEMGF vs. SPY
Often compared with EMMF:
EMMF vs. FLTWEMMF vs. HEDJEMMF vs. BKEMEMMF vs. EEMEMMF vs. BBAXEMMF vs. SPEMEMMF vs. UEVM

Return for Risk

EMGF vs. EMMF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EMGF
EMGF Risk / Return Rank: 6060
Overall Rank
EMGF Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
EMGF Sortino Ratio Rank: 5454
Sortino Ratio Rank
EMGF Omega Ratio Rank: 6161
Omega Ratio Rank
EMGF Calmar Ratio Rank: 6666
Calmar Ratio Rank
EMGF Martin Ratio Rank: 6060
Martin Ratio Rank
EMMF
EMMF Risk / Return Rank: 6060
Overall Rank
EMMF Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
EMMF Sortino Ratio Rank: 5555
Sortino Ratio Rank
EMMF Omega Ratio Rank: 6666
Omega Ratio Rank
EMMF Calmar Ratio Rank: 5959
Calmar Ratio Rank
EMMF Martin Ratio Rank: 6161
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMGF vs. EMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and WisdomTree Emerging Markets Multifactor Fund (EMMF). 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.

EMGFEMMFDifference
Sharpe ratioReturn per unit of total volatility
1.45
1.50

-0.05

Sortino ratioReturn per unit of downside risk
1.97
2.00

-0.02

Omega ratioGain probability vs. loss probability

1.27

1.29

-0.02

Calmar ratioReturn relative to maximum drawdown

2.40

2.17

+0.22

Martin ratioReturn relative to average drawdown

7.41

7.68

-0.26

EMGF vs. EMMF - Sharpe Ratio Comparison

The current EMGF Sharpe Ratio is 1.45, which is comparable to the EMMF Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of EMGF and EMMF, 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

EMGF vs. EMMF - Drawdown Comparison

The maximum EMGF drawdown since its inception was -40.23%, which is greater than EMMF's maximum drawdown of -32.57%. Use the drawdown chart below to compare losses from any high point for EMGF and EMMF.

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Drawdown Indicators

EMGFEMMFDifference

Max Drawdown

Largest peak-to-trough decline

-40.23%

-32.57%

-7.66%

Max Drawdown (1Y)

Largest decline over 1 year

-14.63%

-14.40%

-0.23%

Max Drawdown (3Y)

Largest decline over 3 years

-17.65%

-16.02%

-1.63%

Max Drawdown (5Y)

Largest decline over 5 years

-28.17%

-24.02%

-4.15%

Max Drawdown (10Y)

Largest decline over 10 years

-40.23%

—

—

Current Drawdown

Current decline from peak

-10.20%

-9.83%

-0.37%

Average Drawdown

Average peak-to-trough decline

-10.01%

-7.45%

-2.56%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.72%

4.07%

+0.65%

Volatility

EMGF vs. EMMF - Volatility Comparison

iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and WisdomTree Emerging Markets Multifactor Fund (EMMF) have volatilities of 8.57% and 8.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMGFEMMFDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.57%

8.27%

+0.30%

Volatility (6M)

Calculated over the trailing 6-month period

22.19%

19.26%

+2.93%

Volatility (1Y)

Calculated over the trailing 1-year period

24.23%

20.88%

+3.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.66%

15.42%

+3.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.77%

17.11%

+2.66%

EMGF vs. EMMF - Expense Ratio Comparison

EMGF has a 0.45% expense ratio, which is lower than EMMF's 0.48% expense ratio.

Dividends

EMGF vs. EMMF - Dividend Comparison

EMGF's dividend yield for the trailing twelve months is around 2.11%, more than EMMF's 2.02% yield.

PositionTTM2025202420232022202120202019201820172016
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		2.11%2.52%3.42%5.94%4.04%2.48%1.95%2.63%2.73%1.94%2.04%
EMMF
WisdomTree Emerging Markets Multifactor Fund		2.02%2.45%1.30%1.62%3.48%2.64%1.93%2.93%0.66%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.94, EMGF and EMMF 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.

EMGF has higher volatility (8.57%) compared to EMMF (8.27%). In terms of maximum drawdown, EMGF dropped -40.23% vs EMMF's -32.57%.

On 5-year performance, EMMF leads with 9.81% vs 9.15% for EMGF. On fees, EMGF is cheaper at 0.45% per year. On volatility, EMMF has been the lower-risk option at 8.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EMMF has performed better with a 9.81% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMGF is cheaper with a 0.45% expense ratio, compared with 0.48% for EMMF.

EMGF has the higher dividend yield at 2.11%, compared with 2.02% for EMMF.

They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.45% for EMGF and 0.48% for EMMF.

EMMF currently has the higher Sharpe Ratio (1.50 vs 1.45), 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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