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MFEM vs. EDIV
Performance
Return for Risk
Dividends
Drawdowns
Volatility

MFEM vs. EDIV

Last updated Apr 1, 2026

Compare and contrast key facts about PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) and SPDR S&P Emerging Markets Dividend ETF (EDIV).

MFEM and EDIV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MFEM is a passively managed fund by PIMCO that tracks the performance of the RAFI Dynamic Multi-Factor Emerging Market Index. It was launched on Aug 31, 2017. EDIV is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets Dividend Opportunities Index. It was launched on Feb 23, 2011. Both MFEM and EDIV 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

MFEM vs. EDIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) and SPDR S&P Emerging Markets Dividend ETF (EDIV). The values are adjusted to include any dividend payments, if applicable.

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MFEM vs. EDIV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF		8.20%25.33%4.73%15.14%-19.50%10.77%11.33%15.26%-14.64%4.82%
EDIV
SPDR S&P Emerging Markets Dividend ETF		1.66%16.45%12.75%41.91%-15.31%11.21%-9.95%11.80%-6.16%6.06%

Returns By Period

In the year-to-date period, MFEM achieves a 8.20% return, which is significantly higher than EDIV's 1.66% return.

MFEM

1D
2.92%
1M
-9.87%
YTD
8.20%
6M
12.54%
1Y
35.23%
3Y*
16.17%
5Y*
6.37%
10Y*
—

EDIV

1D
2.23%
1M
-7.27%
YTD
1.66%
6M
3.11%
1Y
16.06%
3Y*
20.08%
5Y*
10.60%
10Y*
8.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF

SPDR S&P Emerging Markets Dividend ETF

Often compared with MFEM:
MFEM vs. DEMMFEM vs. ZPRV.DEMFEM vs. FLXE.LMFEM vs. FLXE.DEMFEM vs. VWOMFEM vs. VOOMFEM vs. PRF
Often compared with EDIV:
EDIV vs. VWOEDIV vs. EEMSEDIV vs. VOOEDIV vs. EEMEDIV vs. EYLDEDIV vs. XCEMEDIV vs. FEMS

MFEM vs. EDIV - Expense Ratio Comparison

Both MFEM and EDIV have an expense ratio of 0.49%.

MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF
EDIV
SPDR S&P Emerging Markets Dividend ETF

Return for Risk

MFEM vs. EDIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MFEM
MFEM Risk / Return Rank: 8888
Overall Rank
MFEM Sharpe Ratio Rank: 8989
Sharpe Ratio Rank
MFEM Sortino Ratio Rank: 8989
Sortino Ratio Rank
MFEM Omega Ratio Rank: 8989
Omega Ratio Rank
MFEM Calmar Ratio Rank: 8787
Calmar Ratio Rank
MFEM Martin Ratio Rank: 8787
Martin Ratio Rank
EDIV
EDIV Risk / Return Rank: 6565
Overall Rank
EDIV Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
EDIV Sortino Ratio Rank: 6868
Sortino Ratio Rank
EDIV Omega Ratio Rank: 6767
Omega Ratio Rank
EDIV Calmar Ratio Rank: 6363
Calmar Ratio Rank
EDIV Martin Ratio Rank: 5959
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.

MFEM vs. EDIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) and SPDR S&P Emerging Markets Dividend ETF (EDIV). 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.

MFEMEDIVDifference

Sharpe ratio

Return per unit of total volatility

1.89

1.17

+0.72

Sortino ratio

Return per unit of downside risk

2.47

1.65

+0.82

Omega ratio

Gain probability vs. loss probability

1.37

1.24

+0.13

Calmar ratio

Return relative to maximum drawdown

2.71

1.50

+1.21

Martin ratio

Return relative to average drawdown

10.38

5.52

+4.86

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

MFEM vs. EDIV - Sharpe Ratio Comparison

The current MFEM Sharpe Ratio is 1.89, which is higher than the EDIV Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of MFEM and EDIV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

MFEMEDIVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.89

1.17

+0.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.77

-0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.48

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.32

0.15

+0.17

Correlation

The correlation between MFEM and EDIV is 0.84, 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

MFEM vs. EDIV - Dividend Comparison

MFEM's dividend yield for the trailing twelve months is around 2.56%, less than EDIV's 4.71% yield.

TTM20252024202320222021202020192018201720162015
MFEM
PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF		2.56%2.77%5.89%4.01%7.01%29.96%1.70%2.37%1.18%0.21%0.00%0.00%
EDIV
SPDR S&P Emerging Markets Dividend ETF		4.71%4.69%3.94%4.26%4.94%3.84%3.52%3.83%3.41%2.99%4.94%5.33%

Drawdowns

MFEM vs. EDIV - Drawdown Comparison

The maximum MFEM drawdown since its inception was -43.32%, smaller than the maximum EDIV drawdown of -53.36%. Use the drawdown chart below to compare losses from any high point for MFEM and EDIV.

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Drawdown Indicators

MFEMEDIVDifference

Max Drawdown

Largest peak-to-trough decline

-43.32%

-53.36%

+10.04%

Max Drawdown (1Y)

Largest decline over 1 year

-12.86%

-10.36%

-2.50%

Max Drawdown (5Y)

Largest decline over 5 years

-31.39%

-28.32%

-3.07%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.76%

—

Current Drawdown

Current decline from peak

-10.31%

-8.36%

-1.95%

Average Drawdown

Average peak-to-trough decline

-11.67%

-19.53%

+7.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.36%

2.82%

+0.54%

Volatility

MFEM vs. EDIV - Volatility Comparison

PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) has a higher volatility of 10.30% compared to SPDR S&P Emerging Markets Dividend ETF (EDIV) at 6.31%. This indicates that MFEM's price experiences larger fluctuations and is considered to be riskier than EDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MFEMEDIVDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.30%

6.31%

+3.99%

Volatility (6M)

Calculated over the trailing 6-month period

14.44%

9.12%

+5.32%

Volatility (1Y)

Calculated over the trailing 1-year period

18.72%

13.77%

+4.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.12%

13.81%

+2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.22%

17.58%

+1.64%