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IEFM.L vs. DEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IEFM.L vs. DEM

Last updated Jun 9, 2026

IEFM.L (iShares Edge MSCI Europe Momentum Factor UCITS ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both exchange-traded funds - IEFM.L is a Momentum fund tracking the MSCI Europe Momentum Index, while DEM is a Emerging Markets Equities fund tracking the WisdomTree Emerging Markets Equity income Index. Both are passively managed. Over the past 10 years, IEFM.L returned 12.57%/yr vs 10.89%/yr for DEM. At a 0.43 correlation, their price movements are largely independent. IEFM.L charges 0.25%/yr vs 0.63%/yr for DEM.

Performance

IEFM.L vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IEFM.L is traded in GBp, while DEM is traded in USD. To make them comparable, the DEM values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEFM.L achieves a 6.32% return, which is significantly lower than DEM's 17.35% return. Over the past 10 years, IEFM.L has outperformed DEM with an annualized return of 12.57%, while DEM has yielded a comparatively lower 10.89% annualized return.

IEFM.L

1D
0.21%
1M
2.16%
YTD
6.32%
6M
9.51%
1Y
19.03%
3Y*
20.47%
5Y*
11.30%
10Y*
12.57%

DEM

1D
0.51%
1M
1.17%
YTD
17.35%
6M
17.64%
1Y
28.60%
3Y*
14.70%
5Y*
10.25%
10Y*
10.89%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IEFM.L vs. DEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		6.32%33.05%15.03%10.37%-9.80%14.07%17.04%23.39%-9.34%15.91%
DEM
WisdomTree Emerging Markets Equity Income Fund		17.35%12.64%6.28%14.89%0.22%12.54%-8.61%15.28%-2.22%15.34%

Correlation

The correlation between IEFM.L and DEM is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.39

Correlation (3Y)
Calculated over the trailing 3-year period

0.39

Correlation (5Y)
Calculated over the trailing 5-year period

0.37

Correlation (10Y)
Calculated over the trailing 10-year period

0.43

Correlation (All Time)
Calculated using the full available price history since Jan 20, 2015

0.43

IEFM.L vs. DEM - Sectors Allocation Comparison

Sectors
IEFM.L
DEM

Financial Services

23.8%
21.9%

Healthcare

15.7%
0.6%

Industrials

15.0%
9.5%

Utilities

11.9%
3.0%

Energy

10.3%
6.1%

Technology

9.2%
17.4%

Basic Materials

7.6%
3.5%

Consumer Defensive

2.9%
5.8%

Communication Services

2.8%
3.0%

Consumer Cyclical

0.5%
5.0%

Real Estate

0.4%
3.0%

Financial Services

IEFM.L
23.8%
DEM
21.9%

Healthcare

IEFM.L
15.7%
DEM
0.6%

Industrials

IEFM.L
15.0%
DEM
9.5%

Utilities

IEFM.L
11.9%
DEM
3.0%

Energy

IEFM.L
10.3%
DEM
6.1%

Technology

IEFM.L
9.2%
DEM
17.4%

Basic Materials

IEFM.L
7.6%
DEM
3.5%

Consumer Defensive

IEFM.L
2.9%
DEM
5.8%

Communication Services

IEFM.L
2.8%
DEM
3.0%

Consumer Cyclical

IEFM.L
0.5%
DEM
5.0%

Real Estate

IEFM.L
0.4%
DEM
3.0%

Compare stocks, funds, or ETFs

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iShares Edge MSCI Europe Momentum Factor UCITS ETF

WisdomTree Emerging Markets Equity Income Fund

Often compared with IEFM.L:
IEFM.L vs. MTUMIEFM.L vs. VUKE.DEIEFM.L vs. CEMR.DEIEFM.L vs. EXO.ASIEFM.L vs. SPYF.DEIEFM.L vs. QDVX.DEIEFM.L vs. ESIF.L
Often compared with DEM:
DEM vs. DVYEDEM vs. EEMDEM vs. FNDEDEM vs. AVEMDEM vs. DGREDEM vs. FEMKXDEM vs. VXUS

Return for Risk

IEFM.L vs. DEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IEFM.L
IEFM.L Risk / Return Rank: 3737
Overall Rank
IEFM.L Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
IEFM.L Sortino Ratio Rank: 3838
Sortino Ratio Rank
IEFM.L Omega Ratio Rank: 3737
Omega Ratio Rank
IEFM.L Calmar Ratio Rank: 3434
Calmar Ratio Rank
IEFM.L Martin Ratio Rank: 4040
Martin Ratio Rank
DEM
DEM Risk / Return Rank: 6767
Overall Rank
DEM Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
DEM Sortino Ratio Rank: 6363
Sortino Ratio Rank
DEM Omega Ratio Rank: 6565
Omega Ratio Rank
DEM Calmar Ratio Rank: 7474
Calmar Ratio Rank
DEM Martin Ratio Rank: 7171
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.

IEFM.L vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) 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.

IEFM.LDEMDifference
Sharpe ratioReturn per unit of total volatility
1.18
2.39

-1.21

Sortino ratioReturn per unit of downside risk
1.78
3.25

-1.46

Omega ratioGain probability vs. loss probability

1.22

1.45

-0.23

Calmar ratioReturn relative to maximum drawdown

1.57

4.48

-2.91

Martin ratioReturn relative to average drawdown

5.80

16.57

-10.77

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

IEFM.L vs. DEM - Sharpe Ratio Comparison

The current IEFM.L Sharpe Ratio is 1.18, which is lower than the DEM Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of IEFM.L 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.

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Sharpe Ratios by Period

IEFM.LDEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.18

2.39

-1.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.78

-0.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.64

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.71

0.34

+0.37

Drawdowns

IEFM.L vs. DEM - Drawdown Comparison

The maximum IEFM.L drawdown since its inception was -23.88%, smaller than the maximum DEM drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for IEFM.L and DEM.

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Drawdown Indicators

IEFM.LDEMDifference

Max Drawdown

Largest peak-to-trough decline

-23.88%

-41.34%

+17.46%

Max Drawdown (1Y)

Largest decline over 1 year

-12.05%

-6.41%

-5.64%

Max Drawdown (3Y)

Largest decline over 3 years

-12.95%

-13.58%

+0.63%

Max Drawdown (5Y)

Largest decline over 5 years

-21.33%

-13.77%

-7.56%

Max Drawdown (10Y)

Largest decline over 10 years

-23.88%

-31.47%

+7.59%

Current Drawdown

Current decline from peak

-2.17%

-3.38%

+1.21%

Average Drawdown

Average peak-to-trough decline

-5.04%

-8.75%

+3.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.27%

1.73%

+1.54%

Volatility

IEFM.L vs. DEM - Volatility Comparison

The current volatility for iShares Edge MSCI Europe Momentum Factor UCITS ETF (IEFM.L) is 3.42%, while WisdomTree Emerging Markets Equity Income Fund (DEM) has a volatility of 5.12%. This indicates that IEFM.L 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.

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Volatility by Period

IEFM.LDEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.42%

5.12%

-1.70%

Volatility (6M)

Calculated over the trailing 6-month period

13.84%

10.02%

+3.82%

Volatility (1Y)

Calculated over the trailing 1-year period

16.06%

12.06%

+4.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.62%

13.17%

+2.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.94%

17.05%

-1.11%

IEFM.L vs. DEM - Expense Ratio Comparison

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

Dividends

IEFM.L vs. DEM - Dividend Comparison

IEFM.L has not paid dividends to shareholders, while DEM's dividend yield for the trailing twelve months is around 3.88%.

PositionTTM20252024202320222021202020192018201720162015
DEM
WisdomTree Emerging Markets Equity Income Fund		3.88%4.88%5.24%5.49%8.62%5.87%4.21%4.78%4.47%3.67%3.63%5.21%
IEFM.L
iShares Edge MSCI Europe Momentum Factor UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IEFM.L and DEM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IEFM.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

IEFM.L is categorized as Momentum, while DEM is Emerging Markets Equities. IEFM.L tracks MSCI Europe Momentum 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 IEFM.L and 0.63% for DEM.

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