RWEM vs. HDV

Last updated Jul 12, 2026

RWEM (Rayliant Wilshire NxtGen Emerging Markets Equity ETF) and HDV (iShares Core High Dividend ETF) are both exchange-traded funds - RWEM is a Emerging Markets Equities fund tracking the FT Wilshire Emerging Large NxtGen Index, while HDV is a Dividend fund tracking the Morningstar Dividend Yield Focus Index. Both are passively managed. Over the past 3 years, RWEM returned 19.70%/yr vs 15.04%/yr for HDV. At a 0.24 correlation, their price movements are largely independent. RWEM charges 0.52%/yr vs 0.08%/yr for HDV.

Performance

RWEM vs. HDV - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with RWEM having a 16.03% return and HDV slightly lower at 15.36%.

RWEM

• 1D: -1.30%
• 1M: -4.59%
• 6M: 13.25%
• YTD: 16.03%
• 1Y: 32.81%
• 3Y*: 19.70%
• 5Y*: —
• 10Y*: —

HDV

• 1D: 0.44%
• 1M: 0.05%
• 6M: 13.47%
• YTD: 15.36%
• 1Y: 19.24%
• 3Y*: 15.04%
• 5Y*: 11.16%
• 10Y*: 9.03%

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

RWEM vs. HDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	16.03%	28.17%	7.24%	21.56%	-20.11%	0.16%
HDV iShares Core High Dividend ETF	15.36%	11.90%	14.16%	1.72%	7.05%	2.25%

Correlation

The correlation between RWEM and HDV is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (All Time) Calculated using the full available price history since Dec 16, 2021	0.24

The correlation between RWEM and HDV shifts across timeframes, from -0.15 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

RWEM vs. HDV - Sectors Allocation Comparison

Sectors	RWEM	HDV
Technology	43.8%	0.2%
Financial Services	15.3%	4.8%
Industrials	5.9%	3.6%
Consumer Cyclical	4.5%	9.2%
Communication Services	4.4%	5.2%
Basic Materials	3.5%	0.8%
Energy	2.4%	19.6%
Healthcare	1.9%	23.7%
Utilities	1.9%	8.2%
Consumer Defensive	1.0%	24.5%
Real Estate	0.1%	-

Return for Risk

RWEM vs. HDV — Risk / Return Rank

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

RWEM

RWEM Risk / Return Rank: 40
RWEM Sharpe Ratio Rank: 31
RWEM Sortino Ratio Rank: 32
RWEM Omega Ratio Rank: 35
RWEM Calmar Ratio Rank: 53
RWEM Martin Ratio Rank: 47

HDV

HDV Risk / Return Rank: 72
HDV Sharpe Ratio Rank: 69
HDV Sortino Ratio Rank: 74
HDV Omega Ratio Rank: 64
HDV Calmar Ratio Rank: 83
HDV Martin Ratio Rank: 68

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. HDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) and iShares Core High Dividend ETF (HDV). 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	HDV	Difference
Sharpe ratio: Return per unit of total volatility	0.92	1.79	-0.87
Sortino ratio: Return per unit of downside risk	1.43	2.67	-1.24
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.11
Calmar ratio: Return relative to maximum drawdown	2.14	3.60	-1.46
Martin ratio: Return relative to average drawdown	6.26	9.85	-3.59

RWEM vs. HDV - Sharpe Ratio Comparison

The current RWEM Sharpe Ratio is 0.92, which is lower than the HDV Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of RWEM and HDV, 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. HDV - Drawdown Comparison

The maximum RWEM drawdown since its inception was -26.92%, smaller than the maximum HDV drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for RWEM and HDV.

Drawdown Indicators

	RWEM	HDV	Difference
Max Drawdown Largest peak-to-trough decline	-26.92%	-37.04%	+10.12%
Max Drawdown (1Y) Largest decline over 1 year	-15.39%	-5.18%	-10.21%
Max Drawdown (3Y) Largest decline over 3 years	-22.56%	-10.49%	-12.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.04%	—
Current Drawdown Current decline from peak	-10.39%	-1.39%	-9.00%
Average Drawdown Average peak-to-trough decline	-9.56%	-3.07%	-6.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.25%	1.90%	+3.35%

Volatility

RWEM vs. HDV - Volatility Comparison

Rayliant Wilshire NxtGen Emerging Markets Equity ETF (RWEM) has a higher volatility of 13.33% compared to iShares Core High Dividend ETF (HDV) at 4.51%. This indicates that RWEM's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWEM	HDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.33%	4.51%	+8.82%
Volatility (6M) Calculated over the trailing 6-month period	30.02%	8.34%	+21.68%
Volatility (1Y) Calculated over the trailing 1-year period	35.91%	10.47%	+25.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	12.88%	+9.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.57%	15.74%	+6.83%

RWEM vs. HDV - Expense Ratio Comparison

RWEM has a 0.52% expense ratio, which is higher than HDV's 0.08% expense ratio.

Dividends

RWEM vs. HDV - Dividend Comparison

RWEM's dividend yield for the trailing twelve months is around 1.85%, less than HDV's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDV iShares Core High Dividend ETF	2.87%	3.22%	3.67%	3.82%	3.56%	3.47%	4.07%	3.27%	3.67%	3.27%	3.28%	3.92%
RWEM Rayliant Wilshire NxtGen Emerging Markets Equity ETF	1.85%	2.15%	3.59%	1.60%	5.59%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWEM and HDV in my portfolio?

RWEM and HDV have a correlation of -0.15, 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 HDV?

RWEM has higher volatility (13.33%) compared to HDV (4.51%). In terms of maximum drawdown, RWEM dropped -26.92% vs HDV's -37.04%.

Which ETF is better, RWEM or HDV?

On 3-year performance, RWEM leads with 19.70% vs 15.04% for HDV. On fees, HDV is cheaper at 0.08% per year. On volatility, HDV has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RWEM or HDV?

Over the 3-year period, RWEM has performed better with a 19.70% return vs 15.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RWEM or HDV?

HDV is cheaper with a 0.08% expense ratio, compared with 0.52% for RWEM.

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

HDV has the higher dividend yield at 2.87%, compared with 1.85% for RWEM.

What is the main difference between RWEM and HDV?

RWEM is categorized as Emerging Markets Equities, while HDV is Dividend. RWEM tracks FT Wilshire Emerging Large NxtGen Index, while HDV tracks Morningstar Dividend Yield Focus Index. They also come from different issuers: Rayliant and iShares. Their fees differ too: 0.52% for RWEM and 0.08% for HDV.

Which has better risk-adjusted returns?

HDV currently has the higher Sharpe Ratio (1.79 vs 0.92), 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.