ESGE vs. DEM

Last updated Aug 2, 2026

ESGE (iShares ESG Aware MSCI EM ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both exchange-traded funds - ESGE is a Emerging Markets Equities fund tracking the MSCI EM Extended ESG Focus Index, while DEM is a Dividend fund tracking the WisdomTree Emerging Markets Equity Income Index. Both are passively managed. Over the past 10 years, ESGE returned 8.88%/yr vs 9.26%/yr for DEM. Their correlation of 0.85 means they have usually moved in the same direction. ESGE charges 0.25%/yr vs 0.63%/yr for DEM.

Performance

ESGE vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Aware MSCI EM ETF (ESGE) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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 ESGE having a 17.50% return and DEM slightly lower at 17.08%. Both investments have delivered pretty close results over the past 10 years, with ESGE having a 8.88% annualized return and DEM not far ahead at 9.26%.

ESGE

• 1D: 0.92%
• 1M: -1.79%
• 6M: 9.17%
• YTD: 17.50%
• 1Y: 34.75%
• 3Y*: 18.81%
• 5Y*: 6.80%
• 10Y*: 8.88%
• ALL TIME*: 8.86%

DEM

• 1D: 0.19%
• 1M: 0.60%
• 6M: 10.28%
• YTD: 17.08%
• 1Y: 24.73%
• 3Y*: 15.88%
• 5Y*: 10.19%
• 10Y*: 9.26%
• ALL TIME*: 4.92%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DEM WisdomTree Emerging Markets Equity Income Fund	$8.90M	$9.48M	$10.87M
ESGE iShares ESG Aware MSCI EM ETF	$53.52M	$39.94M	$58.74M

ESGE vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ESGE iShares ESG Aware MSCI EM ETF	17.50%	35.86%	6.63%	9.51%	-22.41%	-2.87%	18.60%	20.37%	-15.24%	38.86%
DEM WisdomTree Emerging Markets Equity Income Fund	17.08%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%

Correlation

The correlation between ESGE and DEM is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jul 20, 2016	0.85

The correlation between ESGE and DEM has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.

ESGE vs. DEM - Sectors Allocation Comparison

Sectors	ESGE	DEM
Technology	45.4%	17.5%
Financial Services	23.0%	21.9%
Communication Services	7.2%	3.0%
Consumer Cyclical	6.8%	5.4%
Industrials	4.9%	8.9%
Basic Materials	4.2%	3.7%
Healthcare	2.5%	0.6%
Consumer Defensive	2.1%	5.8%
Energy	1.7%	6.2%
Utilities	1.3%	3.0%
Real Estate	1.0%	2.9%

Return for Risk

ESGE vs. DEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ESGE

ESGE Risk / Return Rank: 61
ESGE Sharpe Ratio Rank: 59
ESGE Sortino Ratio Rank: 55
ESGE Omega Ratio Rank: 62
ESGE Calmar Ratio Rank: 70
ESGE Martin Ratio Rank: 61

DEM

DEM Risk / Return Rank: 75
DEM Sharpe Ratio Rank: 73
DEM Sortino Ratio Rank: 71
DEM Omega Ratio Rank: 72
DEM Calmar Ratio Rank: 84
DEM Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ESGE vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Aware MSCI EM ETF (ESGE) 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.

	ESGE	DEM	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.66	-0.27
Sortino ratio: Return per unit of downside risk	1.90	2.31	-0.41
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.03
Calmar ratio: Return relative to maximum drawdown	2.44	3.15	-0.71
Martin ratio: Return relative to average drawdown	7.40	9.50	-2.10

ESGE vs. DEM - Sharpe Ratio Comparison

The current ESGE Sharpe Ratio is 1.39, which is comparable to the DEM Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of ESGE 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

ESGE vs. DEM - Drawdown Comparison

The maximum ESGE drawdown since its inception was -41.07%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for ESGE and DEM.

Drawdown Indicators

	ESGE	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-41.07%	-51.85%	+10.78%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	-7.89%	-6.01%
Max Drawdown (3Y) Largest decline over 3 years	-16.71%	-15.64%	-1.07%
Max Drawdown (5Y) Largest decline over 5 years	-37.07%	-27.18%	-9.89%
Max Drawdown (10Y) Largest decline over 10 years	-41.07%	-37.79%	-3.28%
Current Drawdown Current decline from peak	-9.30%	-3.57%	-5.73%
Average Drawdown Average peak-to-trough decline	-14.34%	-12.82%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	2.61%	+1.97%

Volatility

ESGE vs. DEM - Volatility Comparison

iShares ESG Aware MSCI EM ETF (ESGE) has a higher volatility of 9.09% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 5.12%. This indicates that ESGE's price experiences larger fluctuations and is considered to be riskier than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ESGE	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.09%	5.12%	+3.97%
Volatility (6M) Calculated over the trailing 6-month period	22.33%	13.28%	+9.05%
Volatility (1Y) Calculated over the trailing 1-year period	24.45%	15.02%	+9.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	15.60%	+4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	17.85%	+2.50%

ESGE vs. DEM - Expense Ratio Comparison

ESGE has a 0.25% expense ratio, which is lower than DEM's 0.63% expense ratio.

Dividends

ESGE vs. DEM - Dividend Comparison

ESGE's dividend yield for the trailing twelve months is around 2.20%, less than DEM's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.18%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
ESGE iShares ESG Aware MSCI EM ETF	2.20%	2.50%	2.41%	2.64%	2.68%	2.66%	1.31%	2.59%	2.19%	1.86%	0.27%	0.00%

Frequently Asked Questions

Can I hold both ESGE and DEM in my portfolio?

ESGE and DEM have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ESGE or DEM?

ESGE has higher volatility (9.09%) compared to DEM (5.12%). In terms of maximum drawdown, ESGE dropped -41.07% vs DEM's -51.85%.

Which ETF is better, ESGE or DEM?

On 10-year performance, DEM leads with 9.26% vs 8.88% for ESGE. On fees, ESGE is cheaper at 0.25% per year. On volatility, DEM has been the lower-risk option at 5.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ESGE or DEM?

Over the 10-year period, DEM has performed better with a 9.26% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ESGE or DEM?

ESGE is cheaper with a 0.25% expense ratio, compared with 0.63% for DEM.

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

DEM has the higher dividend yield at 4.18%, compared with 2.20% for ESGE.

What is the main difference between ESGE and DEM?

ESGE is categorized as Emerging Markets Equities, while DEM is Dividend. ESGE tracks MSCI EM Extended ESG Focus Index, while DEM tracks WisdomTree Emerging Markets Equity Income Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.25% for ESGE and 0.63% for DEM.

Which has better risk-adjusted returns?

DEM currently has the higher Sharpe Ratio (1.66 vs 1.39), 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.