EMMF vs. DHS

Last updated Jun 4, 2026

EMMF (WisdomTree Emerging Markets Multifactor Fund) and DHS (WisdomTree US High Dividend Fund) are both exchange-traded funds - EMMF is a Asia Pacific Equities fund actively managed by WisdomTree, while DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index. EMMF is actively managed, while DHS is passively managed. Over the past 5 years, EMMF returned 10.81%/yr vs 10.59%/yr for DHS. At a 0.45 correlation, their price movements are largely independent. EMMF charges 0.48%/yr vs 0.38%/yr for DHS.

Performance

EMMF vs. DHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Multifactor Fund (EMMF) and WisdomTree US High Dividend Fund (DHS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMMF achieves a 28.01% return, which is significantly higher than DHS's 9.88% return.

EMMF

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

DHS

• 1D: -0.67%
• 1M: -0.16%
• YTD: 9.88%
• 6M: 10.38%
• 1Y: 20.55%
• 3Y*: 16.39%
• 5Y*: 10.59%
• 10Y*: 9.47%

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

EMMF vs. DHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMMF WisdomTree Emerging Markets Multifactor Fund	28.01%	21.22%	9.45%	20.59%	-13.47%	5.97%	9.25%	2.30%	-6.64%
DHS WisdomTree US High Dividend Fund	9.88%	12.87%	18.02%	-0.19%	7.97%	23.20%	-5.70%	22.59%	-7.54%

Correlation

The correlation between EMMF and DHS is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.45

Over the past year, the correlation between EMMF and DHS has dropped to 0.23 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

EMMF vs. DHS - Sectors Allocation Comparison

Sectors	EMMF	DHS
Technology	32.9%	3.7%
Consumer Cyclical	14.0%	5.0%
Financial Services	8.2%	22.3%
Communication Services	6.6%	9.3%
Consumer Defensive	4.4%	18.7%
Industrials	3.8%	4.1%
Energy	2.1%	9.4%
Utilities	2.0%	9.0%
Basic Materials	1.9%	1.2%
Healthcare	0.3%	14.5%
Real Estate	-	2.8%

Return for Risk

EMMF vs. DHS — Risk / Return Rank

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

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

DHS

DHS Risk / Return Rank: 62
DHS Sharpe Ratio Rank: 60
DHS Sortino Ratio Rank: 66
DHS Omega Ratio Rank: 57
DHS Calmar Ratio Rank: 65
DHS Martin Ratio Rank: 65

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.

EMMF vs. DHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Multifactor Fund (EMMF) and WisdomTree US High Dividend Fund (DHS). 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.

	EMMF	DHS	Difference
Sharpe ratio: Return per unit of total volatility	2.98	2.06	+0.91
Sortino ratio: Return per unit of downside risk	3.90	3.09	+0.81
Omega ratio: Gain probability vs. loss probability	1.56	1.35	+0.21
Calmar ratio: Return relative to maximum drawdown	4.64	3.28	+1.36
Martin ratio: Return relative to average drawdown	19.15	12.04	+7.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMMF vs. DHS - Sharpe Ratio Comparison

The current EMMF Sharpe Ratio is 2.98, which is higher than the DHS Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of EMMF and DHS, 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

	EMMF	DHS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.98	2.06	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.77	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.41	+0.14

Drawdowns

EMMF vs. DHS - Drawdown Comparison

The maximum EMMF drawdown since its inception was -32.57%, smaller than the maximum DHS drawdown of -67.25%. Use the drawdown chart below to compare losses from any high point for EMMF and DHS.

Drawdown Indicators

	EMMF	DHS	Difference
Max Drawdown Largest peak-to-trough decline	-32.57%	-67.25%	+34.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-6.30%	-4.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-11.87%	-4.15%
Max Drawdown (5Y) Largest decline over 5 years	-24.99%	-15.28%	-9.71%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.35%	—
Current Drawdown Current decline from peak	-1.20%	-2.60%	+1.40%
Average Drawdown Average peak-to-trough decline	-7.45%	-9.55%	+2.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	1.71%	+0.86%

Volatility

EMMF vs. DHS - Volatility Comparison

WisdomTree Emerging Markets Multifactor Fund (EMMF) has a higher volatility of 7.23% compared to WisdomTree US High Dividend Fund (DHS) at 2.88%. This indicates that EMMF's price experiences larger fluctuations and is considered to be riskier than DHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMMF	DHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.23%	2.88%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	14.46%	7.32%	+7.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.57%	10.01%	+6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.38%	13.89%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	16.08%	+0.54%

EMMF vs. DHS - Expense Ratio Comparison

EMMF has a 0.48% expense ratio, which is higher than DHS's 0.38% expense ratio.

Dividends

EMMF vs. DHS - Dividend Comparison

EMMF's dividend yield for the trailing twelve months is around 1.85%, less than DHS's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHS WisdomTree US High Dividend Fund	3.35%	3.32%	3.66%	4.31%	3.42%	3.29%	4.14%	3.69%	3.76%	3.00%	3.25%	3.53%
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%	0.00%

Frequently Asked Questions

Can I hold both EMMF and DHS in my portfolio?

EMMF and DHS have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMMF or DHS?

EMMF has higher volatility (7.23%) compared to DHS (2.88%). In terms of maximum drawdown, EMMF dropped -32.57% vs DHS's -67.25%.

Which ETF is better, EMMF or DHS?

On 5-year performance, EMMF leads with 10.81% vs 10.59% for DHS. On fees, DHS is cheaper at 0.38% per year. On volatility, DHS has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMMF or DHS?

Over the 5-year period, EMMF has performed better with a 10.81% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMMF or DHS?

DHS is cheaper with a 0.38% expense ratio, compared with 0.48% for EMMF.

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

DHS has the higher dividend yield at 3.35%, compared with 1.85% for EMMF.

What is the main difference between EMMF and DHS?

EMMF is categorized as Asia Pacific Equities, while DHS is Large Cap Value Equities. Their fees differ too: 0.48% for EMMF and 0.38% for DHS.

Which has better risk-adjusted returns?

EMMF currently has the higher Sharpe Ratio (2.98 vs 2.06), 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.