IEMG vs. DGS

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Core MSCI Emerging Markets ETF (IEMG) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS).

IEMG and DGS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEMG is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Investable Market Index. It was launched on Oct 18, 2012. DGS is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Emerging Markets SmallCap Dividend Index. It was launched on Oct 30, 2007. Both IEMG and DGS 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

IEMG vs. DGS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Emerging Markets ETF (IEMG) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). The values are adjusted to include any dividend payments, if applicable.

IEMG vs. DGS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEMG iShares Core MSCI Emerging Markets ETF	3.76%	32.56%	6.50%	11.52%	-19.98%	-0.64%	17.87%	17.81%	-14.92%	37.38%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	5.34%	21.18%	1.13%	19.08%	-12.35%	15.33%	4.06%	18.90%	-16.52%	37.47%

Returns By Period

In the year-to-date period, IEMG achieves a 3.76% return, which is significantly lower than DGS's 5.34% return. Over the past 10 years, IEMG has underperformed DGS with an annualized return of 8.23%, while DGS has yielded a comparatively higher 8.94% annualized return.

IEMG

• 1D: 3.61%
• 1M: -9.13%
• YTD: 3.76%
• 6M: 7.65%
• 1Y: 33.09%
• 3Y*: 16.07%
• 5Y*: 4.37%
• 10Y*: 8.23%

DGS

• 1D: 2.72%
• 1M: -6.99%
• YTD: 5.34%
• 6M: 6.67%
• 1Y: 29.07%
• 3Y*: 13.78%
• 5Y*: 7.49%
• 10Y*: 8.94%

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

IEMG vs. DGS - Expense Ratio Comparison

IEMG has a 0.09% expense ratio, which is lower than DGS's 0.58% expense ratio.

DGS

WisdomTree Emerging Markets SmallCap Dividend Fund

IEMG

iShares Core MSCI Emerging Markets ETF

Return for Risk

IEMG vs. DGS — Risk / Return Rank

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

IEMG

IEMG Risk / Return Rank: 86
IEMG Sharpe Ratio Rank: 86
IEMG Sortino Ratio Rank: 87
IEMG Omega Ratio Rank: 86
IEMG Calmar Ratio Rank: 86
IEMG Martin Ratio Rank: 86

DGS

DGS Risk / Return Rank: 87
DGS Sharpe Ratio Rank: 87
DGS Sortino Ratio Rank: 88
DGS Omega Ratio Rank: 87
DGS Calmar Ratio Rank: 86
DGS Martin Ratio Rank: 86

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.

IEMG vs. DGS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Emerging Markets ETF (IEMG) and WisdomTree Emerging Markets SmallCap Dividend Fund (DGS). 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.

	IEMG	DGS	Difference
Sharpe ratio Return per unit of total volatility	1.68	1.76	-0.08
Sortino ratio Return per unit of downside risk	2.27	2.37	-0.09
Omega ratio Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio Return relative to maximum drawdown	2.48	2.56	-0.08
Martin ratio Return relative to average drawdown	9.61	9.49	+0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEMG vs. DGS - Sharpe Ratio Comparison

The current IEMG Sharpe Ratio is 1.68, which is comparable to the DGS Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of IEMG and DGS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IEMG	DGS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.68	1.76	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.51	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.52	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.21	+0.07

Correlation

The correlation between IEMG and DGS is 0.92, 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

IEMG vs. DGS - Dividend Comparison

IEMG's dividend yield for the trailing twelve months is around 2.65%, less than DGS's 3.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEMG iShares Core MSCI Emerging Markets ETF	2.65%	2.75%	3.20%	2.89%	2.71%	3.06%	1.87%	3.15%	2.76%	2.35%	2.28%	2.53%
DGS WisdomTree Emerging Markets SmallCap Dividend Fund	3.49%	3.45%	3.36%	4.55%	5.34%	3.98%	3.69%	3.95%	4.24%	2.81%	3.42%	3.28%

Drawdowns

IEMG vs. DGS - Drawdown Comparison

The maximum IEMG drawdown since its inception was -38.71%, smaller than the maximum DGS drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for IEMG and DGS.

Drawdown Indicators

	IEMG	DGS	Difference
Max Drawdown Largest peak-to-trough decline	-38.71%	-61.83%	+23.12%
Max Drawdown (1Y) Largest decline over 1 year	-13.21%	-10.99%	-2.22%
Max Drawdown (5Y) Largest decline over 5 years	-35.93%	-24.86%	-11.07%
Max Drawdown (10Y) Largest decline over 10 years	-38.71%	-44.08%	+5.37%
Current Drawdown Current decline from peak	-10.08%	-7.62%	-2.46%
Average Drawdown Average peak-to-trough decline	-13.11%	-12.68%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	2.96%	+0.45%

Volatility

IEMG vs. DGS - Volatility Comparison

iShares Core MSCI Emerging Markets ETF (IEMG) has a higher volatility of 10.48% compared to WisdomTree Emerging Markets SmallCap Dividend Fund (DGS) at 8.48%. This indicates that IEMG's price experiences larger fluctuations and is considered to be riskier than DGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IEMG	DGS	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.48%	8.48%	+2.00%
Volatility (6M) Calculated over the trailing 6-month period	14.67%	11.46%	+3.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.78%	16.59%	+3.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.91%	14.66%	+3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.84%	17.25%	+2.59%