INDE vs. EMMF

Last updated Jun 24, 2026

INDE (Matthews India Active ETF) and EMMF (WisdomTree Emerging Markets Multifactor Fund) are both Asia Pacific Equities funds. Both are actively managed. Over the past year, INDE returned -0.24% vs 38.99% for EMMF. A 0.50 correlation means they provide meaningful diversification when combined. INDE charges 0.79%/yr vs 0.48%/yr for EMMF.

Performance

INDE vs. EMMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews India Active ETF (INDE) and WisdomTree Emerging Markets Multifactor Fund (EMMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDE achieves a -4.05% return, which is significantly lower than EMMF's 21.57% return.

INDE

• 1D: -1.57%
• 1M: 6.93%
• YTD: -4.05%
• 6M: -5.69%
• 1Y: -0.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMMF

• 1D: -5.06%
• 1M: 1.49%
• YTD: 21.57%
• 6M: 22.05%
• 1Y: 38.99%
• 3Y*: 21.51%
• 5Y*: 10.20%
• 10Y*: —

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

INDE vs. EMMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
INDE Matthews India Active ETF	-4.05%	2.39%	10.95%	7.84%
EMMF WisdomTree Emerging Markets Multifactor Fund	21.57%	21.22%	9.45%	8.04%

Correlation

The correlation between INDE and EMMF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.50

The correlation between INDE and EMMF has been stable across timeframes, ranging from 0.49 to 0.50 - a consistent structural relationship.

INDE vs. EMMF - Sectors Allocation Comparison

Sectors	INDE	EMMF
Financial Services	33.4%	8.2%
Consumer Cyclical	23.6%	14.0%
Technology	9.6%	32.9%
Consumer Defensive	8.3%	4.4%
Healthcare	8.1%	0.3%
Industrials	7.1%	3.8%
Energy	3.7%	2.1%
Communication Services	3.3%	6.6%
Basic Materials	2.9%	1.9%
Real Estate	-	-
Utilities	-	2.0%

Return for Risk

INDE vs. EMMF — Risk / Return Rank

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

INDE

INDE Risk / Return Rank: 9
INDE Sharpe Ratio Rank: 9
INDE Sortino Ratio Rank: 8
INDE Omega Ratio Rank: 8
INDE Calmar Ratio Rank: 9
INDE Martin Ratio Rank: 9

EMMF

EMMF Risk / Return Rank: 71
EMMF Sharpe Ratio Rank: 67
EMMF Sortino Ratio Rank: 60
EMMF Omega Ratio Rank: 73
EMMF Calmar Ratio Rank: 76
EMMF Martin Ratio Rank: 77

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.

INDE vs. EMMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews India Active ETF (INDE) and WisdomTree Emerging Markets Multifactor Fund (EMMF). 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.

	INDE	EMMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	2.03	-2.05
Sortino ratio: Return per unit of downside risk	0.11	2.61	-2.51
Omega ratio: Gain probability vs. loss probability	1.01	1.40	-0.39
Calmar ratio: Return relative to maximum drawdown	-0.01	3.69	-3.70
Martin ratio: Return relative to average drawdown	-0.03	13.79	-13.82

INDE vs. EMMF - Sharpe Ratio Comparison

The current INDE Sharpe Ratio is -0.01, which is lower than the EMMF Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of INDE and EMMF, 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

INDE vs. EMMF - Drawdown Comparison

The maximum INDE drawdown since its inception was -22.89%, smaller than the maximum EMMF drawdown of -32.57%. Use the drawdown chart below to compare losses from any high point for INDE and EMMF.

Drawdown Indicators

	INDE	EMMF	Difference
Max Drawdown Largest peak-to-trough decline	-22.89%	-32.57%	+9.68%
Max Drawdown (1Y) Largest decline over 1 year	-19.10%	-10.62%	-8.48%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.02%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.02%	—
Current Drawdown Current decline from peak	-11.14%	-6.18%	-4.96%
Average Drawdown Average peak-to-trough decline	-7.62%	-7.43%	-0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.40%	2.84%	+4.56%

Volatility

INDE vs. EMMF - Volatility Comparison

The current volatility for Matthews India Active ETF (INDE) is 5.98%, while WisdomTree Emerging Markets Multifactor Fund (EMMF) has a volatility of 11.36%. This indicates that INDE experiences smaller price fluctuations and is considered to be less risky than EMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDE	EMMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	11.36%	-5.38%
Volatility (6M) Calculated over the trailing 6-month period	14.87%	17.64%	-2.77%
Volatility (1Y) Calculated over the trailing 1-year period	17.15%	19.26%	-2.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.62%	15.04%	+1.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.62%	16.95%	-0.33%

INDE vs. EMMF - Expense Ratio Comparison

INDE has a 0.79% expense ratio, which is higher than EMMF's 0.48% expense ratio.

Dividends

INDE vs. EMMF - Dividend Comparison

INDE's dividend yield for the trailing twelve months is around 1.83%, less than EMMF's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMMF WisdomTree Emerging Markets Multifactor Fund	1.95%	2.45%	1.30%	1.62%	3.48%	2.64%	1.93%	2.93%	0.66%
INDE Matthews India Active ETF	1.83%	1.75%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDE and EMMF in my portfolio?

INDE and EMMF have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDE or EMMF?

EMMF has higher volatility (11.36%) compared to INDE (5.98%). In terms of maximum drawdown, INDE dropped -22.89% vs EMMF's -32.57%.

Which ETF is better, INDE or EMMF?

On 1-year performance, EMMF leads with 38.99% vs -0.24% for INDE. On fees, EMMF is cheaper at 0.48% per year. On volatility, INDE has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INDE or EMMF?

Over the 1-year period, EMMF has performed better with a 38.99% return vs -0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDE or EMMF?

EMMF is cheaper with a 0.48% expense ratio, compared with 0.79% for INDE.

Which ETF pays a higher dividend yield, INDE or EMMF?

EMMF has the higher dividend yield at 1.95%, compared with 1.83% for INDE.

What is the main difference between INDE and EMMF?

They also come from different issuers: Matthews and WisdomTree. Their fees differ too: 0.79% for INDE and 0.48% for EMMF.

Which has better risk-adjusted returns?

EMMF currently has the higher Sharpe Ratio (2.03 vs -0.01), 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.