EZM vs. EPI

Last updated Jun 5, 2026

EZM (WisdomTree U.S. MidCap Earnings Fund) and EPI (WisdomTree India Earnings Fund) are both exchange-traded funds - EZM is a Mid Cap Blend Equities fund tracking the WisdomTree U.S. MidCap Index, while EPI is a Asia Pacific Equities fund tracking the WisdomTree India Earnings Index. Both are passively managed. Over the past 10 years, EZM returned 10.61%/yr vs 9.13%/yr for EPI. A 0.52 correlation means they provide meaningful diversification when combined. EZM charges 0.38%/yr vs 0.84%/yr for EPI.

Performance

EZM vs. EPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. MidCap Earnings Fund (EZM) and WisdomTree India Earnings Fund (EPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EZM achieves a 11.29% return, which is significantly higher than EPI's -8.81% return. Over the past 10 years, EZM has outperformed EPI with an annualized return of 10.61%, while EPI has yielded a comparatively lower 9.13% annualized return.

EZM

• 1D: 0.68%
• 1M: 2.22%
• YTD: 11.29%
• 6M: 11.02%
• 1Y: 24.69%
• 3Y*: 16.06%
• 5Y*: 8.11%
• 10Y*: 10.61%

EPI

• 1D: 1.34%
• 1M: -2.38%
• YTD: -8.81%
• 6M: -7.60%
• 1Y: -8.26%
• 3Y*: 8.13%
• 5Y*: 5.65%
• 10Y*: 9.13%

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

EZM vs. EPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZM WisdomTree U.S. MidCap Earnings Fund	11.29%	8.42%	10.29%	19.69%	-12.22%	31.00%	5.57%	24.48%	-12.36%	17.37%
EPI WisdomTree India Earnings Fund	-8.81%	2.25%	10.70%	26.03%	-4.74%	26.41%	18.55%	1.53%	-9.88%	39.14%

Correlation

The correlation between EZM and EPI is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Feb 27, 2008	0.52

The correlation between EZM and EPI shifts across timeframes, from 0.38 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

EZM vs. EPI - Sectors Allocation Comparison

Sectors	EZM	EPI
Financial Services	19.3%	23.4%
Industrials	16.5%	9.7%
Consumer Cyclical	15.4%	7.5%
Technology	12.5%	8.3%
Healthcare	9.2%	5.5%
Energy	7.2%	17.3%
Consumer Defensive	5.4%	3.5%
Real Estate	4.9%	0.9%
Basic Materials	4.4%	13.5%
Utilities	3.3%	8.4%
Communication Services	1.8%	2.0%

Return for Risk

EZM vs. EPI — Risk / Return Rank

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

EZM

EZM Risk / Return Rank: 53
EZM Sharpe Ratio Rank: 49
EZM Sortino Ratio Rank: 53
EZM Omega Ratio Rank: 48
EZM Calmar Ratio Rank: 58
EZM Martin Ratio Rank: 55

EPI

EPI Risk / Return Rank: 4
EPI Sharpe Ratio Rank: 4
EPI Sortino Ratio Rank: 4
EPI Omega Ratio Rank: 4
EPI Calmar Ratio Rank: 5
EPI Martin Ratio Rank: 3

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.

EZM vs. EPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. MidCap Earnings Fund (EZM) and WisdomTree India Earnings Fund (EPI). 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.

	EZM	EPI	Difference
Sharpe ratio: Return per unit of total volatility	1.67	-0.55	+2.23
Sortino ratio: Return per unit of downside risk	2.54	-0.71	+3.25
Omega ratio: Gain probability vs. loss probability	1.30	0.92	+0.38
Calmar ratio: Return relative to maximum drawdown	2.85	-0.49	+3.34
Martin ratio: Return relative to average drawdown	9.66	-1.20	+10.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZM vs. EPI - Sharpe Ratio Comparison

The current EZM Sharpe Ratio is 1.67, which is higher than the EPI Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of EZM and EPI, 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

	EZM	EPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	-0.55	+2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.35	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.45	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.14	+0.28

Drawdowns

EZM vs. EPI - Drawdown Comparison

The maximum EZM drawdown since its inception was -59.58%, smaller than the maximum EPI drawdown of -66.21%. Use the drawdown chart below to compare losses from any high point for EZM and EPI.

Drawdown Indicators

	EZM	EPI	Difference
Max Drawdown Largest peak-to-trough decline	-59.58%	-66.21%	+6.63%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-16.88%	+8.18%
Max Drawdown (3Y) Largest decline over 3 years	-23.53%	-21.89%	-1.64%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-21.89%	-1.64%
Max Drawdown (10Y) Largest decline over 10 years	-47.26%	-50.29%	+3.03%
Current Drawdown Current decline from peak	0.00%	-16.72%	+16.72%
Average Drawdown Average peak-to-trough decline	-8.27%	-18.65%	+10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	6.91%	-4.35%

Volatility

EZM vs. EPI - Volatility Comparison

The current volatility for WisdomTree U.S. MidCap Earnings Fund (EZM) is 3.33%, while WisdomTree India Earnings Fund (EPI) has a volatility of 4.95%. This indicates that EZM experiences smaller price fluctuations and is considered to be less risky than EPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZM	EPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	4.95%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	12.85%	-2.60%
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	14.97%	-0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	16.21%	+4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	20.35%	+2.00%

EZM vs. EPI - Expense Ratio Comparison

EZM has a 0.38% expense ratio, which is lower than EPI's 0.84% expense ratio.

Dividends

EZM vs. EPI - Dividend Comparison

EZM's dividend yield for the trailing twelve months is around 1.25%, while EPI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
EZM WisdomTree U.S. MidCap Earnings Fund	1.25%	1.39%	1.22%	1.25%	1.57%	1.08%	1.67%	1.34%	1.57%	1.14%	1.55%	1.30%

Frequently Asked Questions

Can I hold both EZM and EPI in my portfolio?

EZM and EPI have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZM or EPI?

EPI has higher volatility (4.95%) compared to EZM (3.33%). In terms of maximum drawdown, EZM dropped -59.58% vs EPI's -66.21%.

Which ETF is better, EZM or EPI?

On 10-year performance, EZM leads with 10.61% vs 9.13% for EPI. On fees, EZM is cheaper at 0.38% per year. On volatility, EZM has been the lower-risk option at 3.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZM or EPI?

Over the 10-year period, EZM has performed better with a 10.61% return vs 9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZM or EPI?

EZM is cheaper with a 0.38% expense ratio, compared with 0.84% for EPI.

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

EZM has the higher dividend yield at 1.25%, compared with 0.00% for EPI.

What is the main difference between EZM and EPI?

EZM is categorized as Mid Cap Blend Equities, while EPI is Asia Pacific Equities. EZM tracks WisdomTree U.S. MidCap Index, while EPI tracks WisdomTree India Earnings Index. Their fees differ too: 0.38% for EZM and 0.84% for EPI.

Which has better risk-adjusted returns?

EZM currently has the higher Sharpe Ratio (1.67 vs -0.55), 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.