KPHO vs. DEM

Last updated Jun 4, 2026

KPHO (KraneShares Dragon Capital Vietnam Growth Index ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds - KPHO tracks the Dragon Capital Merqube Vietnam Growth Index while DEM tracks the WisdomTree Emerging Markets Equity income Index. Both are passively managed. A 0.50 correlation means they provide meaningful diversification when combined. KPHO charges 1.03%/yr vs 0.63%/yr for DEM.

Performance

KPHO vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KPHO achieves a -6.83% return, which is significantly lower than DEM's 19.97% return.

KPHO

• 1D: -0.11%
• 1M: -2.98%
• YTD: -6.83%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DEM

• 1D: -1.19%
• 1M: 6.63%
• YTD: 19.97%
• 6M: 20.75%
• 1Y: 32.23%
• 3Y*: 19.32%
• 5Y*: 9.57%
• 10Y*: 10.45%

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

KPHO vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025
KPHO KraneShares Dragon Capital Vietnam Growth Index ETF	-6.83%	9.78%
DEM WisdomTree Emerging Markets Equity Income Fund	19.97%	0.50%

Correlation

The correlation between KPHO and DEM is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	0.50

Return for Risk

KPHO vs. DEM — Risk / Return Rank

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

DEM

DEM Risk / Return Rank: 74
DEM Sharpe Ratio Rank: 72
DEM Sortino Ratio Rank: 71
DEM Omega Ratio Rank: 71
DEM Calmar Ratio Rank: 79
DEM Martin Ratio Rank: 75

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.

KPHO vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Dragon Capital Vietnam Growth Index ETF (KPHO) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	KPHO	DEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.38	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.22	-0.06

Drawdowns

KPHO vs. DEM - Drawdown Comparison

The maximum KPHO drawdown since its inception was -14.34%, smaller than the maximum DEM drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for KPHO and DEM.

Drawdown Indicators

	KPHO	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-51.85%	+37.51%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-15.64%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.18%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.79%	—
Current Drawdown Current decline from peak	-11.98%	-1.19%	-10.79%
Average Drawdown Average peak-to-trough decline	-5.83%	-12.90%	+7.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.22%	—

Volatility

Volatility by Period

	KPHO	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.64%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.80%	13.59%	+15.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.80%	15.33%	+13.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.80%	17.96%	+10.84%

KPHO vs. DEM - Expense Ratio Comparison

KPHO has a 1.03% expense ratio, which is higher than DEM's 0.63% expense ratio.

Dividends

KPHO vs. DEM - Dividend Comparison

KPHO's dividend yield for the trailing twelve months is around 11.16%, more than DEM's 3.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	3.76%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
KPHO KraneShares Dragon Capital Vietnam Growth Index ETF	11.16%	10.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both KPHO and DEM in my portfolio?

KPHO and DEM have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KPHO or DEM?

On fees, DEM is cheaper at 0.63% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KPHO or DEM?

DEM is cheaper with a 0.63% expense ratio, compared with 1.03% for KPHO.

Which ETF pays a higher dividend yield, KPHO or DEM?

KPHO has the higher dividend yield at 11.16%, compared with 3.76% for DEM.

What is the main difference between KPHO and DEM?

KPHO tracks Dragon Capital Merqube Vietnam Growth Index, while DEM tracks WisdomTree Emerging Markets Equity income Index. They also come from different issuers: KraneShares and WisdomTree. Their fees differ too: 1.03% for KPHO and 0.63% for DEM.