EMM vs. DIEM

Last updated Jun 4, 2026

EMM (Global X Emerging Markets ex-China ETF) and DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) are both Emerging Markets Diversified funds. EMM is actively managed, while DIEM is passively managed. Over the past 3 years, EMM returned 22.67%/yr vs 28.35%/yr for DIEM. Their correlation of 0.86 suggests significant overlap in exposure. EMM charges 0.75%/yr vs 0.19%/yr for DIEM.

Performance

EMM vs. DIEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Emerging Markets ex-China ETF (EMM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EMM having a 32.97% return and DIEM slightly lower at 32.78%.

EMM

• 1D: -1.15%
• 1M: 10.12%
• YTD: 32.97%
• 6M: 38.50%
• 1Y: 63.51%
• 3Y*: 22.67%
• 5Y*: —
• 10Y*: —

DIEM

• 1D: -1.37%
• 1M: 12.08%
• YTD: 32.78%
• 6M: 35.57%
• 1Y: 60.54%
• 3Y*: 28.35%
• 5Y*: 11.49%
• 10Y*: —

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

EMM vs. DIEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMM Global X Emerging Markets ex-China ETF	32.97%	30.21%	2.34%	3.40%
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	32.78%	30.81%	12.29%	8.29%

Correlation

The correlation between EMM and DIEM is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 16, 2023	0.86

The correlation between EMM and DIEM has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

EMM vs. DIEM - Sectors Allocation Comparison

Sectors	EMM	DIEM
Technology	45.5%	40.3%
Financial Services	25.0%	23.3%
Industrials	5.9%	4.7%
Consumer Defensive	5.1%	2.9%
Energy	4.8%	6.0%
Basic Materials	3.9%	4.2%
Consumer Cyclical	2.7%	6.7%
Communication Services	2.7%	5.6%
Real Estate	1.8%	1.6%
Healthcare	1.5%	0.6%
Utilities	1.2%	4.1%

Return for Risk

EMM vs. DIEM — Risk / Return Rank

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

EMM

EMM Risk / Return Rank: 85
EMM Sharpe Ratio Rank: 87
EMM Sortino Ratio Rank: 84
EMM Omega Ratio Rank: 85
EMM Calmar Ratio Rank: 82
EMM Martin Ratio Rank: 86

DIEM

DIEM Risk / Return Rank: 90
DIEM Sharpe Ratio Rank: 92
DIEM Sortino Ratio Rank: 90
DIEM Omega Ratio Rank: 92
DIEM Calmar Ratio Rank: 87
DIEM Martin Ratio Rank: 89

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.

EMM vs. DIEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets ex-China ETF (EMM) and Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM). 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.

	EMM	DIEM	Difference
Sharpe ratio: Return per unit of total volatility	2.94	3.35	-0.41
Sortino ratio: Return per unit of downside risk	3.79	4.26	-0.47
Omega ratio: Gain probability vs. loss probability	1.52	1.62	-0.10
Calmar ratio: Return relative to maximum drawdown	4.33	4.93	-0.61
Martin ratio: Return relative to average drawdown	18.13	20.34	-2.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMM vs. DIEM - Sharpe Ratio Comparison

The current EMM Sharpe Ratio is 2.94, which is comparable to the DIEM Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of EMM and DIEM, 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

	EMM	DIEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.94	3.35	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.55	+0.63

Drawdowns

EMM vs. DIEM - Drawdown Comparison

The maximum EMM drawdown since its inception was -21.99%, smaller than the maximum DIEM drawdown of -38.61%. Use the drawdown chart below to compare losses from any high point for EMM and DIEM.

Drawdown Indicators

	EMM	DIEM	Difference
Max Drawdown Largest peak-to-trough decline	-21.99%	-38.61%	+16.62%
Max Drawdown (1Y) Largest decline over 1 year	-14.75%	-12.33%	-2.42%
Max Drawdown (3Y) Largest decline over 3 years	-21.99%	-16.82%	-5.17%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.61%	—
Current Drawdown Current decline from peak	-1.15%	-1.37%	+0.22%
Average Drawdown Average peak-to-trough decline	-4.68%	-9.72%	+5.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	2.99%	+0.52%

Volatility

EMM vs. DIEM - Volatility Comparison

Global X Emerging Markets ex-China ETF (EMM) has a higher volatility of 9.79% compared to Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) at 8.52%. This indicates that EMM's price experiences larger fluctuations and is considered to be riskier than DIEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMM	DIEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.79%	8.52%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	19.28%	15.91%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	21.69%	18.17%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.83%	16.93%	+1.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	17.59%	+1.24%

EMM vs. DIEM - Expense Ratio Comparison

EMM has a 0.75% expense ratio, which is higher than DIEM's 0.19% expense ratio.

Dividends

EMM vs. DIEM - Dividend Comparison

EMM's dividend yield for the trailing twelve months is around 0.67%, less than DIEM's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF	2.30%	2.99%	4.92%	4.45%	6.31%	4.06%	2.75%	5.98%	3.87%	2.61%	0.35%
EMM Global X Emerging Markets ex-China ETF	0.67%	0.90%	0.80%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMM and DIEM in my portfolio?

EMM and DIEM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMM or DIEM?

EMM has higher volatility (9.79%) compared to DIEM (8.52%). In terms of maximum drawdown, EMM dropped -21.99% vs DIEM's -38.61%.

Which ETF is better, EMM or DIEM?

On 3-year performance, DIEM leads with 28.35% vs 22.67% for EMM. On fees, DIEM is cheaper at 0.19% per year. On volatility, DIEM has been the lower-risk option at 8.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMM or DIEM?

Over the 3-year period, DIEM has performed better with a 28.35% return vs 22.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMM or DIEM?

DIEM is cheaper with a 0.19% expense ratio, compared with 0.75% for EMM.

Which ETF pays a higher dividend yield, EMM or DIEM?

DIEM has the higher dividend yield at 2.30%, compared with 0.67% for EMM.

What is the main difference between EMM and DIEM?

They also come from different issuers: Global X and Franklin Templeton. Their fees differ too: 0.75% for EMM and 0.19% for DIEM.

Which has better risk-adjusted returns?

DIEM currently has the higher Sharpe Ratio (3.35 vs 2.94), 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.