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SEMA.L vs. DGSE.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SEMA.L vs. DGSE.L

Last updated Jun 5, 2026

SEMA.L (iShares MSCI EM UCITS ETF (Acc)) and DGSE.L (WisdomTree Emerging Markets SmallCap Dividend UCITS ETF) are both Emerging Markets Equities funds - SEMA.L tracks the MSCI EM NR USD while DGSE.L tracks the MSCI Emerging Markets SMID NR USD. Both are passively managed. Over the past 10 years, SEMA.L returned 10.90%/yr vs 6.84%/yr for DGSE.L. Their correlation of 0.83 suggests significant overlap in exposure. SEMA.L charges 0.18%/yr vs 0.54%/yr for DGSE.L.

Performance

SEMA.L vs. DGSE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI EM UCITS ETF (Acc) (SEMA.L) and WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SEMA.L achieves a 26.04% return, which is significantly higher than DGSE.L's 10.61% return. Over the past 10 years, SEMA.L has outperformed DGSE.L with an annualized return of 10.90%, while DGSE.L has yielded a comparatively lower 6.84% annualized return.

SEMA.L

1D
-1.41%
1M
6.37%
YTD
26.04%
6M
28.18%
1Y
53.95%
3Y*
20.93%
5Y*
8.58%
10Y*
10.90%

DGSE.L

1D
0.15%
1M
0.92%
YTD
10.61%
6M
11.47%
1Y
19.49%
3Y*
8.09%
5Y*
4.59%
10Y*
6.84%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SEMA.L vs. DGSE.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SEMA.L
iShares MSCI EM UCITS ETF (Acc)		26.04%25.09%9.38%3.47%-10.74%-1.60%14.69%12.62%-9.25%24.43%
DGSE.L
WisdomTree Emerging Markets SmallCap Dividend UCITS ETF		10.61%7.78%-0.93%9.14%-4.67%11.05%-0.71%8.36%-12.58%20.40%

Correlation

The correlation between SEMA.L and DGSE.L is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.73

Correlation (5Y)
Calculated over the trailing 5-year period

0.73

Correlation (10Y)
Calculated over the trailing 10-year period

0.82

Correlation (All Time)
Calculated using the full available price history since Nov 21, 2014

0.83

The correlation between SEMA.L and DGSE.L shifts across timeframes, from 0.70 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

SEMA.L vs. DGSE.L - Sectors Allocation Comparison

Sectors
SEMA.L
DGSE.L

Technology

41.3%
21.5%

Financial Services

18.2%
12.7%

Consumer Cyclical

9.0%
10.7%

Industrials

7.0%
15.7%

Communication Services

6.4%
3.3%

Basic Materials

6.0%
7.8%

Energy

3.6%
1.3%

Consumer Defensive

2.8%
8.2%

Healthcare

2.7%
5.0%

Utilities

2.0%
4.7%

Real Estate

1.1%
9.2%

Technology

SEMA.L
41.3%
DGSE.L
21.5%

Financial Services

SEMA.L
18.2%
DGSE.L
12.7%

Consumer Cyclical

SEMA.L
9.0%
DGSE.L
10.7%

Industrials

SEMA.L
7.0%
DGSE.L
15.7%

Communication Services

SEMA.L
6.4%
DGSE.L
3.3%

Basic Materials

SEMA.L
6.0%
DGSE.L
7.8%

Energy

SEMA.L
3.6%
DGSE.L
1.3%

Consumer Defensive

SEMA.L
2.8%
DGSE.L
8.2%

Healthcare

SEMA.L
2.7%
DGSE.L
5.0%

Utilities

SEMA.L
2.0%
DGSE.L
4.7%

Real Estate

SEMA.L
1.1%
DGSE.L
9.2%

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iShares MSCI EM UCITS ETF (Acc)

WisdomTree Emerging Markets SmallCap Dividend UCITS ETF

Often compared with SEMA.L:
SEMA.L vs. EMIM.LSEMA.L vs. EIMI.LSEMA.L vs. VFEG.LSEMA.L vs. VWRA.LSEMA.L vs. SWRD.MISEMA.L vs. EQQQ.LSEMA.L vs. EDIV
Often compared with DGSE.L:
DGSE.L vs. SPYX.DEDGSE.L vs. EMVL.LDGSE.L vs. DFEP.LDGSE.L vs. EEMSDGSE.L vs. VYMIDGSE.L vs. SPYDGSE.L vs. SCHD

Return for Risk

SEMA.L vs. DGSE.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SEMA.L
SEMA.L Risk / Return Rank: 8888
Overall Rank
SEMA.L Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
SEMA.L Sortino Ratio Rank: 8989
Sortino Ratio Rank
SEMA.L Omega Ratio Rank: 9191
Omega Ratio Rank
SEMA.L Calmar Ratio Rank: 8787
Calmar Ratio Rank
SEMA.L Martin Ratio Rank: 8585
Martin Ratio Rank
DGSE.L
DGSE.L Risk / Return Rank: 4343
Overall Rank
DGSE.L Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
DGSE.L Sortino Ratio Rank: 4444
Sortino Ratio Rank
DGSE.L Omega Ratio Rank: 4343
Omega Ratio Rank
DGSE.L Calmar Ratio Rank: 4545
Calmar Ratio Rank
DGSE.L Martin Ratio Rank: 4343
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.

SEMA.L vs. DGSE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM UCITS ETF (Acc) (SEMA.L) and WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L). 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.

SEMA.LDGSE.LDifference
Sharpe ratioReturn per unit of total volatility
3.16
1.46

+1.70

Sortino ratioReturn per unit of downside risk
4.05
2.16

+1.89

Omega ratioGain probability vs. loss probability

1.59

1.27

+0.31

Calmar ratioReturn relative to maximum drawdown

4.90

2.19

+2.71

Martin ratioReturn relative to average drawdown

17.45

6.68

+10.77

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

SEMA.L vs. DGSE.L - Sharpe Ratio Comparison

The current SEMA.L Sharpe Ratio is 3.16, which is higher than the DGSE.L Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of SEMA.L and DGSE.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SEMA.LDGSE.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

3.16

1.46

+1.70

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.53

0.34

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.44

+0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.32

+0.07

Drawdowns

SEMA.L vs. DGSE.L - Drawdown Comparison

The maximum SEMA.L drawdown since its inception was -31.75%, smaller than the maximum DGSE.L drawdown of -35.43%. Use the drawdown chart below to compare losses from any high point for SEMA.L and DGSE.L.

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Drawdown Indicators

SEMA.LDGSE.LDifference

Max Drawdown

Largest peak-to-trough decline

-31.75%

-35.43%

+3.68%

Max Drawdown (1Y)

Largest decline over 1 year

-10.95%

-8.87%

-2.08%

Max Drawdown (3Y)

Largest decline over 3 years

-15.23%

-18.85%

+3.62%

Max Drawdown (5Y)

Largest decline over 5 years

-23.52%

-18.85%

-4.67%

Max Drawdown (10Y)

Largest decline over 10 years

-27.06%

-35.43%

+8.37%

Current Drawdown

Current decline from peak

-2.37%

-1.82%

-0.55%

Average Drawdown

Average peak-to-trough decline

-10.72%

-7.71%

-3.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.08%

2.91%

+0.17%

Volatility

SEMA.L vs. DGSE.L - Volatility Comparison

iShares MSCI EM UCITS ETF (Acc) (SEMA.L) has a higher volatility of 7.29% compared to WisdomTree Emerging Markets SmallCap Dividend UCITS ETF (DGSE.L) at 4.43%. This indicates that SEMA.L's price experiences larger fluctuations and is considered to be riskier than DGSE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SEMA.LDGSE.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.29%

4.43%

+2.86%

Volatility (6M)

Calculated over the trailing 6-month period

14.56%

11.24%

+3.32%

Volatility (1Y)

Calculated over the trailing 1-year period

17.00%

13.29%

+3.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.21%

13.37%

+2.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.05%

15.72%

+2.33%

SEMA.L vs. DGSE.L - Expense Ratio Comparison

SEMA.L has a 0.18% expense ratio, which is lower than DGSE.L's 0.54% expense ratio.

Dividends

SEMA.L vs. DGSE.L - Dividend Comparison

SEMA.L has not paid dividends to shareholders, while DGSE.L's dividend yield for the trailing twelve months is around 0.03%.

PositionTTM20252024202320222021202020192018201720162015
DGSE.L
WisdomTree Emerging Markets SmallCap Dividend UCITS ETF		0.03%0.03%0.05%0.04%0.04%0.03%0.03%0.03%0.03%0.02%0.01%0.03%
SEMA.L
iShares MSCI EM UCITS ETF (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SEMA.L and DGSE.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SEMA.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SEMA.L is cheaper with a 0.18% expense ratio, compared with 0.54% for DGSE.L.

SEMA.L tracks MSCI EM NR USD, while DGSE.L tracks MSCI Emerging Markets SMID NR USD. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.18% for SEMA.L and 0.54% for DGSE.L.

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