SPDV vs. EEMD

Last updated Aug 3, 2026

SPDV (AAM S&P 500 High Dividend Value ETF) and EEMD (AAM S&P Emerging Markets High Dividend Value ETF) are both exchange-traded funds - SPDV is a Dividend fund tracking the S&P 500 Dividend & Free Cash Flow Yield Index, while EEMD is a Emerging Markets Equities fund tracking the S&P Emerging Markets Dividend and Free Cash Flow Yield. Both are passively managed. Their 0.45 correlation means their historical movements had little consistent relationship. SPDV charges 0.29%/yr vs 0.50%/yr for EEMD.

Performance

SPDV vs. EEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AAM S&P 500 High Dividend Value ETF (SPDV) and AAM S&P Emerging Markets High Dividend Value ETF (EEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SPDV

• 1D: -0.03%
• 1M: 4.78%
• 6M: 13.02%
• YTD: 19.29%
• 1Y: 30.26%
• 3Y*: 15.86%
• 5Y*: 10.42%
• 10Y*: —
• ALL TIME*: 9.72%

EEMD

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPDV AAM S&P 500 High Dividend Value ETF	$807.83K	$592.31K	$401.15K

SPDV vs. EEMD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPDV AAM S&P 500 High Dividend Value ETF	19.29%	10.90%	14.40%	5.45%	-2.27%	29.54%	-6.09%	20.46%	-6.59%	4.64%
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	9.61%	17.60%	-11.21%	5.54%	-0.35%	12.55%	-14.57%	5.00%

Correlation

The correlation between SPDV and EEMD is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (5Y) Shows whether the relationship held over a longer period.	0.41
Correlation (All Time) Calculated using the full available price history since Nov 29, 2017	0.45

The correlation between SPDV and EEMD shifts across timeframes, from 0.27 (3 years) to 0.45 (all time), reflecting how their relationship changes across market environments.

SPDV vs. EEMD - Sectors Allocation Comparison

Sectors	SPDV	EEMD
Consumer Cyclical	14.9%	8.8%
Technology	12.1%	6.6%
Real Estate	10.6%	9.8%
Healthcare	10.4%	9.5%
Financial Services	10.2%	9.0%
Energy	8.8%	10.6%
Industrials	8.4%	8.2%
Consumer Defensive	7.8%	9.7%
Communication Services	7.1%	9.1%
Utilities	5.7%	11.3%
Basic Materials	4.1%	7.4%

Return for Risk

SPDV vs. EEMD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPDV

SPDV Risk / Return Rank: 92
SPDV Sharpe Ratio Rank: 92
SPDV Sortino Ratio Rank: 93
SPDV Omega Ratio Rank: 90
SPDV Calmar Ratio Rank: 94
SPDV Martin Ratio Rank: 91

EEMD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPDV vs. EEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P 500 High Dividend Value ETF (SPDV) and AAM S&P Emerging Markets High Dividend Value ETF (EEMD). 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.

	SPDV	EEMD	Difference
Sharpe ratio: Return per unit of total volatility	2.37	—	—
Sortino ratio: Return per unit of downside risk	3.49	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	5.01	—	—
Martin ratio: Return relative to average drawdown	15.07	—	—

Drawdowns

Drawdown Indicators

	SPDV	EEMD	Difference
Max Drawdown Largest peak-to-trough decline	-43.81%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	—	—
Current Drawdown Current decline from peak	-1.56%	—	—
Average Drawdown Average peak-to-trough decline	-6.46%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	—	—

Volatility

Volatility by Period

	SPDV	EEMD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.34%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.20%	—	—

SPDV vs. EEMD - Expense Ratio Comparison

SPDV has a 0.29% expense ratio, which is lower than EEMD's 0.50% expense ratio.

Dividends

SPDV vs. EEMD - Dividend Comparison

SPDV's dividend yield for the trailing twelve months is around 3.23%, while EEMD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	4.03%	8.41%	7.66%	6.34%	3.84%	5.35%	4.91%	0.42%
SPDV AAM S&P 500 High Dividend Value ETF	3.23%	3.85%	3.54%	3.95%	3.73%	3.08%	3.90%	3.54%	3.63%	0.28%

Frequently Asked Questions

Can I hold both SPDV and EEMD in my portfolio?

SPDV and EEMD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPDV or EEMD?

On fees, SPDV is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPDV or EEMD?

SPDV is cheaper with a 0.29% expense ratio, compared with 0.50% for EEMD.

Which ETF pays a higher dividend yield, SPDV or EEMD?

SPDV has the higher dividend yield at 3.23%, compared with 0.00% for EEMD.

What is the main difference between SPDV and EEMD?

SPDV is categorized as Dividend, while EEMD is Emerging Markets Equities. SPDV tracks S&P 500 Dividend & Free Cash Flow Yield Index, while EEMD tracks S&P Emerging Markets Dividend and Free Cash Flow Yield. Their fees differ too: 0.29% for SPDV and 0.50% for EEMD.