MFEM vs. EVLU
MFEM (PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF) and EVLU (iShares MSCI Emerging Markets Value Factor ETF) are both Emerging Markets Equities funds - MFEM tracks the RAFI Dynamic Multi-Factor Emerging Market Index while EVLU tracks the MSCI Emerging Markets Value Factor Select Index (Net). Both are passively managed. Over the past year, MFEM returned 54.64% vs 72.04% for EVLU. Their correlation of 0.93 suggests significant overlap in exposure. MFEM charges 0.49%/yr vs 0.35%/yr for EVLU.
Performance
MFEM vs. EVLU - Performance Comparison
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Returns By Period
In the year-to-date period, MFEM achieves a 31.49% return, which is significantly lower than EVLU's 34.01% return.
MFEM
- 1D
- -1.14%
- 1M
- 9.48%
- YTD
- 31.49%
- 6M
- 33.22%
- 1Y
- 54.64%
- 3Y*
- 23.28%
- 5Y*
- 8.84%
- 10Y*
- —
EVLU
- 1D
- -2.27%
- 1M
- 15.31%
- YTD
- 34.01%
- 6M
- 37.37%
- 1Y
- 72.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MFEM vs. EVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 31.49% | 25.33% | 1.02% |
EVLU iShares MSCI Emerging Markets Value Factor ETF | 34.01% | 38.54% | 1.61% |
Correlation
The correlation between MFEM and EVLU is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2024 | 0.93 |
The correlation between MFEM and EVLU has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
MFEM vs. EVLU — Risk / Return Rank
MFEM
EVLU
MFEM vs. EVLU - 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 iShares MSCI Emerging Markets Value Factor ETF (EVLU). 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.
| MFEM | EVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.67 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 5.61 | -1.34 |
| Martin ratioReturn relative to average drawdown | 15.72 | 20.79 | -5.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MFEM | EVLU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.87 | 3.80 | -0.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 2.23 | -1.79 |
Drawdowns
MFEM vs. EVLU - Drawdown Comparison
The maximum MFEM drawdown since its inception was -43.32%, which is greater than EVLU's maximum drawdown of -17.17%. Use the drawdown chart below to compare losses from any high point for MFEM and EVLU.
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Drawdown Indicators
| MFEM | EVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.32% | -17.17% | -26.15% |
Max Drawdown (1Y)Largest decline over 1 year | -12.86% | -12.90% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -19.22% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -31.39% | — | — |
Current DrawdownCurrent decline from peak | -1.14% | -2.27% | +1.13% |
Average DrawdownAverage peak-to-trough decline | -11.49% | -3.48% | -8.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.49% | 3.48% | +0.01% |
Volatility
MFEM vs. EVLU - Volatility Comparison
The current volatility for PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF (MFEM) is 8.47%, while iShares MSCI Emerging Markets Value Factor ETF (EVLU) has a volatility of 9.17%. This indicates that MFEM experiences smaller price fluctuations and is considered to be less risky than EVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFEM | EVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.47% | 9.17% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 16.92% | 16.23% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 19.04% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.60% | 19.93% | -3.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.40% | 19.93% | -0.53% |
MFEM vs. EVLU - Expense Ratio Comparison
MFEM has a 0.49% expense ratio, which is higher than EVLU's 0.35% expense ratio.
Dividends
MFEM vs. EVLU - Dividend Comparison
MFEM's dividend yield for the trailing twelve months is around 2.12%, less than EVLU's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EVLU iShares MSCI Emerging Markets Value Factor ETF | 3.88% | 5.20% | 1.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 2.12% | 2.77% | 5.89% | 4.01% | 7.01% | 29.96% | 1.70% | 2.37% | 1.18% | 0.21% |
Frequently Asked Questions
With a correlation of 0.91, MFEM and EVLU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
EVLU has higher volatility (9.17%) compared to MFEM (8.47%). In terms of maximum drawdown, MFEM dropped -43.32% vs EVLU's -17.17%.
On 1-year performance, EVLU leads with 72.04% vs 54.64% for MFEM. On fees, EVLU is cheaper at 0.35% per year. On volatility, MFEM has been the lower-risk option at 8.47%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EVLU has performed better with a 72.04% return vs 54.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EVLU is cheaper with a 0.35% expense ratio, compared with 0.49% for MFEM.
EVLU has the higher dividend yield at 3.88%, compared with 2.12% for MFEM.
MFEM tracks RAFI Dynamic Multi-Factor Emerging Market Index, while EVLU tracks MSCI Emerging Markets Value Factor Select Index (Net). They also come from different issuers: PIMCO and iShares. Their fees differ too: 0.49% for MFEM and 0.35% for EVLU.
EVLU currently has the higher Sharpe Ratio (3.80 vs 2.87), 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.
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