EPI vs. DEM

Last updated Jun 24, 2026

EPI (WisdomTree India Earnings Fund) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds from WisdomTree - EPI tracks the WisdomTree India Earnings Index while DEM tracks the WisdomTree Emerging Markets Equity income Index. Both are passively managed. Over the past 10 years, EPI returned 9.68%/yr vs 10.52%/yr for DEM. A 0.67 correlation means they provide meaningful diversification when combined. EPI charges 0.84%/yr vs 0.63%/yr for DEM.

Performance

EPI vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree India Earnings Fund (EPI) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPI achieves a -7.84% return, which is significantly lower than DEM's 18.12% return. Over the past 10 years, EPI has underperformed DEM with an annualized return of 9.68%, while DEM has yielded a comparatively higher 10.52% annualized return.

EPI

• 1D: -1.80%
• 1M: 0.68%
• YTD: -7.84%
• 6M: -8.06%
• 1Y: -7.64%
• 3Y*: 7.99%
• 5Y*: 6.29%
• 10Y*: 9.68%

DEM

• 1D: -1.93%
• 1M: 1.59%
• YTD: 18.12%
• 6M: 18.38%
• 1Y: 28.27%
• 3Y*: 18.30%
• 5Y*: 9.65%
• 10Y*: 10.52%

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

EPI vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPI WisdomTree India Earnings Fund	-7.84%	2.25%	10.70%	26.03%	-4.74%	26.41%	18.55%	1.53%	-9.88%	39.14%
DEM WisdomTree Emerging Markets Equity Income Fund	18.12%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%

Correlation

The correlation between EPI and DEM is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Feb 26, 2008	0.67

The correlation between EPI and DEM shifts across timeframes, from 0.51 (3 years) to 0.67 (all time), reflecting how their relationship changes across market environments.

EPI vs. DEM - Sectors Allocation Comparison

Sectors	EPI	DEM
Financial Services	23.2%	21.9%
Energy	16.4%	6.1%
Basic Materials	14.2%	3.5%
Industrials	9.9%	9.5%
Technology	8.3%	17.4%
Utilities	8.3%	3.0%
Consumer Cyclical	7.6%	5.0%
Healthcare	5.8%	0.6%
Consumer Defensive	3.5%	5.8%
Communication Services	2.0%	3.0%
Real Estate	0.9%	3.0%

Return for Risk

EPI vs. DEM — Risk / Return Rank

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

EPI

EPI Risk / Return Rank: 5
EPI Sharpe Ratio Rank: 5
EPI Sortino Ratio Rank: 4
EPI Omega Ratio Rank: 5
EPI Calmar Ratio Rank: 5
EPI Martin Ratio Rank: 4

DEM

DEM Risk / Return Rank: 66
DEM Sharpe Ratio Rank: 63
DEM Sortino Ratio Rank: 61
DEM Omega Ratio Rank: 63
DEM Calmar Ratio Rank: 74
DEM Martin Ratio Rank: 70

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.

EPI vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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.

	EPI	DEM	Difference
Sharpe ratio: Return per unit of total volatility	-0.50	1.98	-2.49
Sortino ratio: Return per unit of downside risk	-0.63	2.72	-3.35
Omega ratio: Gain probability vs. loss probability	0.93	1.36	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.45	3.60	-4.05
Martin ratio: Return relative to average drawdown	-1.05	12.31	-13.35

EPI vs. DEM - Sharpe Ratio Comparison

The current EPI Sharpe Ratio is -0.50, which is lower than the DEM Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of EPI and DEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EPI vs. DEM - Drawdown Comparison

The maximum EPI drawdown since its inception was -66.21%, which is greater than DEM's maximum drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for EPI and DEM.

Drawdown Indicators

	EPI	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-66.21%	-51.85%	-14.36%
Max Drawdown (1Y) Largest decline over 1 year	-16.88%	-7.89%	-8.99%
Max Drawdown (3Y) Largest decline over 3 years	-21.89%	-15.64%	-6.25%
Max Drawdown (5Y) Largest decline over 5 years	-21.89%	-27.18%	+5.29%
Max Drawdown (10Y) Largest decline over 10 years	-50.29%	-37.79%	-12.50%
Current Drawdown Current decline from peak	-15.84%	-2.71%	-13.13%
Average Drawdown Average peak-to-trough decline	-18.64%	-12.87%	-5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.33%	2.30%	+5.03%

Volatility

EPI vs. DEM - Volatility Comparison

The current volatility for WisdomTree India Earnings Fund (EPI) is 4.49%, while WisdomTree Emerging Markets Equity Income Fund (DEM) has a volatility of 6.28%. This indicates that EPI experiences smaller price fluctuations and is considered to be less risky than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPI	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.49%	6.28%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	13.15%	12.40%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	15.21%	14.33%	+0.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	15.49%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.30%	17.87%	+2.43%

EPI vs. DEM - Expense Ratio Comparison

EPI has a 0.84% expense ratio, which is higher than DEM's 0.63% expense ratio.

Dividends

EPI vs. DEM - Dividend Comparison

EPI has not paid dividends to shareholders, while DEM's dividend yield for the trailing twelve months is around 3.82%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	3.82%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
EPI WisdomTree India Earnings Fund	0.00%	0.00%	0.27%	0.15%	6.01%	1.18%	0.78%	1.17%	1.18%	0.85%	1.05%	1.20%

Frequently Asked Questions

Can I hold both EPI and DEM in my portfolio?

EPI and DEM have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPI or DEM?

DEM has higher volatility (6.28%) compared to EPI (4.49%). In terms of maximum drawdown, EPI dropped -66.21% vs DEM's -51.85%.

Which ETF is better, EPI or DEM?

On 10-year performance, DEM leads with 10.52% vs 9.68% for EPI. On fees, DEM is cheaper at 0.63% per year. On volatility, EPI has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPI or DEM?

Over the 10-year period, DEM has performed better with a 10.52% return vs 9.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPI or DEM?

DEM is cheaper with a 0.63% expense ratio, compared with 0.84% for EPI.

Which ETF pays a higher dividend yield, EPI or DEM?

DEM has the higher dividend yield at 3.82%, compared with 0.00% for EPI.

What is the main difference between EPI and DEM?

EPI tracks WisdomTree India Earnings Index, while DEM tracks WisdomTree Emerging Markets Equity income Index. Their fees differ too: 0.84% for EPI and 0.63% for DEM.

Which has better risk-adjusted returns?

DEM currently has the higher Sharpe Ratio (1.98 vs -0.50), 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.