PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EWX vs. DVYE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

EWX vs. DVYE

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P Emerging Markets Small Cap ETF (EWX) and iShares Emerging Markets Dividend ETF (DVYE).

EWX and DVYE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EWX is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets Under USD2 Billion Index. It was launched on May 12, 2008. DVYE is a passively managed fund by iShares that tracks the performance of the Dow Jones Emerging Markets Select Dividend Index. It was launched on Feb 23, 2012. Both EWX and DVYE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EWX vs. DVYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets Small Cap ETF (EWX) and iShares Emerging Markets Dividend ETF (DVYE). The values are adjusted to include any dividend payments, if applicable.

Loading graphics...

EWX vs. DVYE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EWX
SPDR S&P Emerging Markets Small Cap ETF		1.07%15.46%6.81%18.13%-15.00%18.15%14.84%15.59%-18.75%34.12%
DVYE
iShares Emerging Markets Dividend ETF		10.54%28.36%8.89%20.88%-31.38%11.02%-2.51%15.41%-5.56%27.04%

Returns By Period

In the year-to-date period, EWX achieves a 1.07% return, which is significantly lower than DVYE's 10.54% return. Over the past 10 years, EWX has outperformed DVYE with an annualized return of 8.33%, while DVYE has yielded a comparatively lower 7.75% annualized return.

EWX

1D
0.36%
1M
-3.63%
YTD
1.07%
6M
0.32%
1Y
20.02%
3Y*
12.47%
5Y*
6.50%
10Y*
8.33%

DVYE

1D
-0.12%
1M
-1.30%
YTD
10.54%
6M
17.72%
1Y
32.92%
3Y*
22.29%
5Y*
6.19%
10Y*
7.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P Emerging Markets Small Cap ETF

iShares Emerging Markets Dividend ETF

Often compared with EWX:
EWX vs. EEMSEWX vs. EWTEWX vs. VWOEWX vs. EYLDEWX vs. FEMSEWX vs. FMEWX vs. AVEE
Often compared with DVYE:
DVYE vs. DEMDVYE vs. DVYDVYE vs. DVYADVYE vs. SCHDDVYE vs. SCHEDVYE vs. QQQDVYE vs. VT

EWX vs. DVYE - Expense Ratio Comparison

EWX has a 0.65% expense ratio, which is higher than DVYE's 0.49% expense ratio.

EWX
SPDR S&P Emerging Markets Small Cap ETF
DVYE
iShares Emerging Markets Dividend ETF

Return for Risk

EWX vs. DVYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EWX
EWX Risk / Return Rank: 6565
Overall Rank
EWX Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
EWX Sortino Ratio Rank: 6464
Sortino Ratio Rank
EWX Omega Ratio Rank: 6565
Omega Ratio Rank
EWX Calmar Ratio Rank: 6060
Calmar Ratio Rank
EWX Martin Ratio Rank: 6767
Martin Ratio Rank
DVYE
DVYE Risk / Return Rank: 8989
Overall Rank
DVYE Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
DVYE Sortino Ratio Rank: 8989
Sortino Ratio Rank
DVYE Omega Ratio Rank: 8989
Omega Ratio Rank
DVYE Calmar Ratio Rank: 8585
Calmar Ratio Rank
DVYE Martin Ratio Rank: 9292
Martin Ratio Rank
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.

EWX vs. DVYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets Small Cap ETF (EWX) and iShares Emerging Markets Dividend ETF (DVYE). 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.

EWXDVYEDifference

Sharpe ratio

Return per unit of total volatility

1.22

1.92

-0.70

Sortino ratio

Return per unit of downside risk

1.68

2.56

-0.88

Omega ratio

Gain probability vs. loss probability

1.25

1.38

-0.14

Calmar ratio

Return relative to maximum drawdown

1.61

2.64

-1.03

Martin ratio

Return relative to average drawdown

7.23

13.28

-6.06

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EWX vs. DVYE - Sharpe Ratio Comparison

The current EWX Sharpe Ratio is 1.22, which is lower than the DVYE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EWX and DVYE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Loading graphics...

Sharpe Ratios by Period

EWXDVYEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.22

1.92

-0.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.37

+0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

0.42

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.19

0.16

+0.02

Correlation

The correlation between EWX and DVYE is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EWX vs. DVYE - Dividend Comparison

EWX's dividend yield for the trailing twelve months is around 2.88%, less than DVYE's 5.12% yield.

TTM20252024202320222021202020192018201720162015
EWX
SPDR S&P Emerging Markets Small Cap ETF		2.88%2.91%2.90%2.32%3.00%2.77%2.24%2.73%3.26%2.30%2.46%3.04%
DVYE
iShares Emerging Markets Dividend ETF		5.12%5.88%11.81%9.05%9.89%7.31%5.27%5.97%5.69%4.81%4.56%6.53%

Drawdowns

EWX vs. DVYE - Drawdown Comparison

The maximum EWX drawdown since its inception was -63.90%, which is greater than DVYE's maximum drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for EWX and DVYE.

Loading graphics...

Drawdown Indicators

EWXDVYEDifference

Max Drawdown

Largest peak-to-trough decline

-63.90%

-47.42%

-16.48%

Max Drawdown (1Y)

Largest decline over 1 year

-12.90%

-12.65%

-0.25%

Max Drawdown (5Y)

Largest decline over 5 years

-24.67%

-40.89%

+16.22%

Max Drawdown (10Y)

Largest decline over 10 years

-43.00%

-40.89%

-2.11%

Current Drawdown

Current decline from peak

-5.62%

-3.11%

-2.51%

Average Drawdown

Average peak-to-trough decline

-13.28%

-15.54%

+2.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.52%

+0.36%

Volatility

EWX vs. DVYE - Volatility Comparison

SPDR S&P Emerging Markets Small Cap ETF (EWX) has a higher volatility of 6.64% compared to iShares Emerging Markets Dividend ETF (DVYE) at 6.20%. This indicates that EWX's price experiences larger fluctuations and is considered to be riskier than DVYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading graphics...

Volatility by Period

EWXDVYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.64%

6.20%

+0.44%

Volatility (6M)

Calculated over the trailing 6-month period

10.51%

10.75%

-0.24%

Volatility (1Y)

Calculated over the trailing 1-year period

16.45%

17.19%

-0.74%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.12%

16.85%

-1.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.08%

18.47%

-1.39%