EMGF vs. EMMF

Last updated Jun 4, 2026

EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) and EMMF (WisdomTree Emerging Markets Multifactor Fund) are both exchange-traded funds - EMGF is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Diversified Multiple-Factor Index, while EMMF is a Asia Pacific Equities fund actively managed by WisdomTree. EMGF is passively managed, while EMMF is actively managed. Over the past 5 years, EMGF returned 10.38%/yr vs 10.81%/yr for EMMF. Their correlation of 0.90 suggests significant overlap in exposure. 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.

Returns By Period

In the year-to-date period, EMGF achieves a 30.01% return, which is significantly higher than EMMF's 28.01% return.

EMGF

• 1D: -1.20%
• 1M: 9.65%
• YTD: 30.01%
• 6M: 32.52%
• 1Y: 55.31%
• 3Y*: 26.88%
• 5Y*: 10.38%
• 10Y*: 11.48%

EMMF

• 1D: -0.96%
• 1M: 11.20%
• YTD: 28.01%
• 6M: 29.54%
• 1Y: 49.05%
• 3Y*: 24.00%
• 5Y*: 10.81%
• 10Y*: —

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

EMGF vs. EMMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	30.01%	31.41%	9.06%	10.86%	-16.55%	6.65%	10.27%	20.96%	-11.87%
EMMF WisdomTree Emerging Markets Multifactor Fund	28.01%	21.22%	9.45%	20.59%	-13.47%	5.97%	9.25%	2.30%	-6.64%

Correlation

The correlation between EMGF and EMMF is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.90

The correlation between EMGF and EMMF has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

EMGF vs. EMMF - Sectors Allocation Comparison

Sectors	EMGF	EMMF
Technology	34.7%	32.9%
Financial Services	19.2%	8.2%
Consumer Cyclical	10.4%	14.0%
Industrials	7.8%	3.8%
Communication Services	7.4%	6.6%
Basic Materials	5.8%	1.9%
Energy	4.3%	2.1%
Consumer Defensive	3.8%	4.4%
Healthcare	2.9%	0.3%
Utilities	2.5%	2.0%
Real Estate	1.1%	-

Return for Risk

EMGF vs. EMMF — Risk / Return Rank

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

EMGF

EMGF Risk / Return Rank: 81
EMGF Sharpe Ratio Rank: 84
EMGF Sortino Ratio Rank: 80
EMGF Omega Ratio Rank: 83
EMGF Calmar Ratio Rank: 79
EMGF Martin Ratio Rank: 80

EMMF

EMMF Risk / Return Rank: 87
EMMF Sharpe Ratio Rank: 88
EMMF Sortino Ratio Rank: 86
EMMF Omega Ratio Rank: 89
EMMF Calmar Ratio Rank: 85
EMMF Martin Ratio Rank: 87

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.

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.

	EMGF	EMMF	Difference
Sharpe ratio: Return per unit of total volatility	2.78	2.98	-0.19
Sortino ratio: Return per unit of downside risk	3.62	3.90	-0.28
Omega ratio: Gain probability vs. loss probability	1.51	1.56	-0.06
Calmar ratio: Return relative to maximum drawdown	4.11	4.64	-0.54
Martin ratio: Return relative to average drawdown	15.84	19.15	-3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMGF vs. EMMF - Sharpe Ratio Comparison

The current EMGF Sharpe Ratio is 2.78, which is comparable to the EMMF Sharpe Ratio of 2.98. 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.

Sharpe Ratios by Period

	EMGF	EMMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	2.98	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.76	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.54	+0.02

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.

Drawdown Indicators

	EMGF	EMMF	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-32.57%	-7.66%
Max Drawdown (1Y) Largest decline over 1 year	-13.54%	-10.62%	-2.92%
Max Drawdown (3Y) Largest decline over 3 years	-17.65%	-16.02%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-28.60%	-24.99%	-3.61%
Max Drawdown (10Y) Largest decline over 10 years	-40.23%	—	—
Current Drawdown Current decline from peak	-1.20%	-1.20%	0.00%
Average Drawdown Average peak-to-trough decline	-10.05%	-7.45%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	2.57%	+0.93%

Volatility

EMGF vs. EMMF - Volatility Comparison

iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a higher volatility of 9.20% compared to WisdomTree Emerging Markets Multifactor Fund (EMMF) at 7.23%. This indicates that EMGF's price experiences larger fluctuations and is considered to be riskier than EMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMGF	EMMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.20%	7.23%	+1.97%
Volatility (6M) Calculated over the trailing 6-month period	17.50%	14.46%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	19.99%	16.57%	+3.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	14.38%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.48%	16.62%	+2.86%

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 1.94%, more than EMMF's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMGF iShares Edge MSCI Multifactor Emerging Markets ETF	1.94%	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	1.85%	2.45%	1.30%	1.62%	3.48%	2.64%	1.93%	2.93%	0.66%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMGF and EMMF in my portfolio?

With a correlation of 0.92, 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.

Which is riskier, EMGF or EMMF?

EMGF has higher volatility (9.20%) compared to EMMF (7.23%). In terms of maximum drawdown, EMGF dropped -40.23% vs EMMF's -32.57%.

Which ETF is better, EMGF or EMMF?

On 5-year performance, EMMF leads with 10.81% vs 10.38% for EMGF. On fees, EMGF is cheaper at 0.45% per year. On volatility, EMMF has been the lower-risk option at 7.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMGF or EMMF?

Over the 5-year period, EMMF has performed better with a 10.81% return vs 10.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMGF or EMMF?

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

Which ETF pays a higher dividend yield, EMGF or EMMF?

EMGF has the higher dividend yield at 1.94%, compared with 1.85% for EMMF.

What is the main difference between EMGF and EMMF?

EMGF is categorized as Emerging Markets Equities, while EMMF is Asia Pacific Equities. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.45% for EMGF and 0.48% for EMMF.

Which has better risk-adjusted returns?

EMMF currently has the higher Sharpe Ratio (2.98 vs 2.78), 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.