RWEM vs. EMDV

Last updated Jun 23, 2026

RWEM (Rayliant Wilshire NxtGen Emerging Markets Equity ETF) and EMDV (ProShares MSCI Emerging Markets Dividend Growers ETF) are both Emerging Markets Equities funds - RWEM tracks the FT Wilshire Emerging Large NxtGen Index while EMDV tracks the MSCI Emerging Markets Dividend Masters Index. Both are passively managed. Over the past 3 years, RWEM returned 24.58%/yr vs 2.73%/yr for EMDV. A 0.60 correlation means they provide meaningful diversification when combined. RWEM charges 0.52%/yr vs 0.60%/yr for EMDV.

Performance

RWEM vs. EMDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWEM achieves a 27.68% return, which is significantly higher than EMDV's -0.55% return.

RWEM

• 1D: -1.40%
• 1M: 6.68%
• YTD: 27.68%
• 6M: 30.93%
• 1Y: 52.26%
• 3Y*: 24.58%
• 5Y*: —
• 10Y*: —

EMDV

• 1D: 0.25%
• 1M: -1.09%
• YTD: -0.55%
• 6M: -1.04%
• 1Y: 6.45%
• 3Y*: 2.73%
• 5Y*: -3.06%
• 10Y*: 2.58%

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

RWEM vs. EMDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	27.68%	28.17%	7.24%	21.56%	-20.11%	0.16%
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	-0.55%	11.90%	0.06%	-1.03%	-18.19%	3.39%

Correlation

The correlation between RWEM and EMDV is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.60

Over the past year, the correlation between RWEM and EMDV has dropped to 0.36 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

RWEM vs. EMDV - Sectors Allocation Comparison

Sectors	RWEM	EMDV
Technology	36.8%	24.7%
Financial Services	23.6%	23.4%
Basic Materials	7.9%	2.1%
Industrials	6.5%	5.9%
Consumer Cyclical	6.3%	6.5%
Communication Services	4.5%	5.7%
Consumer Defensive	4.5%	15.8%
Energy	4.3%	-
Utilities	2.5%	8.2%
Real Estate	1.8%	-
Healthcare	1.4%	7.7%

Return for Risk

RWEM vs. EMDV — Risk / Return Rank

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

RWEM

RWEM Risk / Return Rank: 53
RWEM Sharpe Ratio Rank: 44
RWEM Sortino Ratio Rank: 42
RWEM Omega Ratio Rank: 47
RWEM Calmar Ratio Rank: 70
RWEM Martin Ratio Rank: 62

EMDV

EMDV Risk / Return Rank: 18
EMDV Sharpe Ratio Rank: 17
EMDV Sortino Ratio Rank: 16
EMDV Omega Ratio Rank: 16
EMDV Calmar Ratio Rank: 20
EMDV Martin Ratio Rank: 21

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.

RWEM vs. EMDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) and ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV). 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.

	RWEM	EMDV	Difference
Sharpe ratio: Return per unit of total volatility	1.51	0.57	+0.94
Sortino ratio: Return per unit of downside risk	2.07	0.87	+1.20
Omega ratio: Gain probability vs. loss probability	1.30	1.11	+0.19
Calmar ratio: Return relative to maximum drawdown	3.41	0.89	+2.52
Martin ratio: Return relative to average drawdown	10.75	2.57	+8.19

RWEM vs. EMDV - Sharpe Ratio Comparison

The current RWEM Sharpe Ratio is 1.51, which is higher than the EMDV Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of RWEM and EMDV, 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

RWEM vs. EMDV - Drawdown Comparison

The maximum RWEM drawdown since its inception was -26.92%, smaller than the maximum EMDV drawdown of -39.20%. Use the drawdown chart below to compare losses from any high point for RWEM and EMDV.

Drawdown Indicators

	RWEM	EMDV	Difference
Max Drawdown Largest peak-to-trough decline	-26.92%	-39.20%	+12.28%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-7.24%	-8.15%
Max Drawdown (3Y) Largest decline over 3 years	-22.56%	-20.71%	-1.85%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.13%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.20%	—
Current Drawdown Current decline from peak	-1.40%	-16.25%	+14.85%
Average Drawdown Average peak-to-trough decline	-9.57%	-13.55%	+3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.87%	2.52%	+2.35%

Volatility

RWEM vs. EMDV - Volatility Comparison

Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) has a higher volatility of 15.58% compared to ProShares MSCI Emerging Markets Dividend Growers ETF (EMDV) at 4.07%. This indicates that RWEM's price experiences larger fluctuations and is considered to be riskier than EMDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWEM	EMDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.58%	4.07%	+11.51%
Volatility (6M) Calculated over the trailing 6-month period	29.40%	9.67%	+19.73%
Volatility (1Y) Calculated over the trailing 1-year period	34.92%	11.48%	+23.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.29%	15.45%	+6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	18.19%	+4.10%

RWEM vs. EMDV - Expense Ratio Comparison

RWEM has a 0.52% expense ratio, which is lower than EMDV's 0.60% expense ratio.

Dividends

RWEM vs. EMDV - Dividend Comparison

RWEM's dividend yield for the trailing twelve months is around 1.69%, less than EMDV's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF	2.45%	2.46%	2.79%	1.88%	3.68%	2.12%	3.12%	2.38%	1.27%	2.09%	2.87%
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	1.69%	2.15%	3.59%	1.60%	5.59%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWEM and EMDV in my portfolio?

RWEM and EMDV have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWEM or EMDV?

RWEM has higher volatility (15.58%) compared to EMDV (4.07%). In terms of maximum drawdown, RWEM dropped -26.92% vs EMDV's -39.20%.

Which ETF is better, RWEM or EMDV?

On 3-year performance, RWEM leads with 24.58% vs 2.73% for EMDV. On fees, RWEM is cheaper at 0.52% per year. On volatility, EMDV has been the lower-risk option at 4.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWEM or EMDV?

Over the 3-year period, RWEM has performed better with a 24.58% return vs 2.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWEM or EMDV?

RWEM is cheaper with a 0.52% expense ratio, compared with 0.60% for EMDV.

Which ETF pays a higher dividend yield, RWEM or EMDV?

EMDV has the higher dividend yield at 2.45%, compared with 1.69% for RWEM.

What is the main difference between RWEM and EMDV?

RWEM tracks FT Wilshire Emerging Large NxtGen Index, while EMDV tracks MSCI Emerging Markets Dividend Masters Index. They also come from different issuers: Rayliant and ProShares. Their fees differ too: 0.52% for RWEM and 0.60% for EMDV.

Which has better risk-adjusted returns?

RWEM currently has the higher Sharpe Ratio (1.51 vs 0.57), 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.