EMIF vs. TDEC

Last updated Jun 4, 2026

EMIF (iShares Emerging Markets Infrastructure ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - EMIF is a Emerging Markets Equities fund tracking the S&P Emerging Markets Infrastructure Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, EMIF returned 21.17% vs 24.15% for TDEC. A 0.54 correlation means they provide meaningful diversification when combined. EMIF charges 0.75%/yr vs 0.95%/yr for TDEC.

Performance

EMIF vs. TDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Infrastructure ETF (EMIF) and FT Vest Emerging Markets Buffer ETF - December (TDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMIF achieves a 1.74% return, which is significantly lower than TDEC's 9.14% return.

EMIF

• 1D: -1.54%
• 1M: -6.56%
• YTD: 1.74%
• 6M: 0.79%
• 1Y: 21.17%
• 3Y*: 11.48%
• 5Y*: 4.93%
• 10Y*: 2.36%

TDEC

• 1D: -0.33%
• 1M: 1.54%
• YTD: 9.14%
• 6M: 11.08%
• 1Y: 24.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMIF vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMIF iShares Emerging Markets Infrastructure ETF	1.74%	33.90%	-0.21%
TDEC FT Vest Emerging Markets Buffer ETF - December	9.14%	21.39%	-0.70%

Correlation

The correlation between EMIF and TDEC is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Dec 24, 2024	0.54

The correlation between EMIF and TDEC has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

Return for Risk

EMIF vs. TDEC — Risk / Return Rank

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

EMIF

EMIF Risk / Return Rank: 37
EMIF Sharpe Ratio Rank: 38
EMIF Sortino Ratio Rank: 38
EMIF Omega Ratio Rank: 39
EMIF Calmar Ratio Rank: 35
EMIF Martin Ratio Rank: 33

TDEC

TDEC Risk / Return Rank: 74
TDEC Sharpe Ratio Rank: 74
TDEC Sortino Ratio Rank: 75
TDEC Omega Ratio Rank: 87
TDEC Calmar Ratio Rank: 61
TDEC Martin Ratio Rank: 71

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.

EMIF vs. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Infrastructure ETF (EMIF) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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.

	EMIF	TDEC	Difference
Sharpe ratio Return per unit of total volatility	1.38	2.41	-1.02
Sortino ratio Return per unit of downside risk	2.00	3.34	-1.35
Omega ratio Gain probability vs. loss probability	1.26	1.54	-0.28
Calmar ratio Return relative to maximum drawdown	1.71	2.97	-1.27
Martin ratio Return relative to average drawdown	4.92	13.07	-8.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMIF vs. TDEC - Sharpe Ratio Comparison

The current EMIF Sharpe Ratio is 1.38, which is lower than the TDEC Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of EMIF and TDEC, 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

	EMIF	TDEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	2.41	-1.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	1.81	-1.64

Drawdowns

EMIF vs. TDEC - Drawdown Comparison

The maximum EMIF drawdown since its inception was -48.02%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for EMIF and TDEC.

Drawdown Indicators

	EMIF	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-48.02%	-10.30%	-37.72%
Max Drawdown (1Y) Largest decline over 1 year	-12.45%	-8.16%	-4.29%
Max Drawdown (3Y) Largest decline over 3 years	-16.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.68%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.02%	—	—
Current Drawdown Current decline from peak	-12.45%	-0.33%	-12.12%
Average Drawdown Average peak-to-trough decline	-15.91%	-1.04%	-14.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.31%	1.85%	+2.46%

Volatility

EMIF vs. TDEC - Volatility Comparison

iShares Emerging Markets Infrastructure ETF (EMIF) has a higher volatility of 4.38% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 2.81%. This indicates that EMIF's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMIF	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	2.81%	+1.57%
Volatility (6M) Calculated over the trailing 6-month period	12.97%	9.02%	+3.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.41%	10.09%	+5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	11.75%	+7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	11.75%	+8.86%

EMIF vs. TDEC - Expense Ratio Comparison

EMIF has a 0.75% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

EMIF vs. TDEC - Dividend Comparison

EMIF's dividend yield for the trailing twelve months is around 4.87%, while TDEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMIF iShares Emerging Markets Infrastructure ETF	4.87%	4.96%	4.12%	2.64%	3.08%	3.94%	2.54%	2.07%	2.64%	2.58%	3.16%	2.07%
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMIF and TDEC in my portfolio?

EMIF and TDEC have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMIF or TDEC?

EMIF has higher volatility (4.38%) compared to TDEC (2.81%). In terms of maximum drawdown, EMIF dropped -48.02% vs TDEC's -10.30%.

Which ETF is better, EMIF or TDEC?

On 1-year performance, TDEC leads with 24.15% vs 21.17% for EMIF. On fees, EMIF is cheaper at 0.75% per year. On volatility, TDEC has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMIF or TDEC?

Over the 1-year period, TDEC has performed better with a 24.15% return vs 21.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMIF or TDEC?

EMIF is cheaper with a 0.75% expense ratio, compared with 0.95% for TDEC.

Which ETF pays a higher dividend yield, EMIF or TDEC?

EMIF has the higher dividend yield at 4.87%, compared with 0.00% for TDEC.

What is the main difference between EMIF and TDEC?

EMIF is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. EMIF tracks S&P Emerging Markets Infrastructure Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: iShares and FT Vest. Their fees differ too: 0.75% for EMIF and 0.95% for TDEC.

Which has better risk-adjusted returns?

TDEC currently has the higher Sharpe Ratio (2.41 vs 1.38), 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.