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SPEM vs. DEM
Performance
Return for Risk
Dividends
Drawdowns
Volatility

SPEM vs. DEM

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Portfolio Emerging Markets ETF (SPEM) and WisdomTree Emerging Markets Equity Income Fund (DEM).

SPEM and DEM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPEM is a passively managed fund by State Street that tracks the performance of the S&P Emerging Markets BMI. It was launched on Mar 19, 2007. DEM is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Emerging Markets Equity income Index. It was launched on Jul 13, 2007. Both SPEM and DEM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SPEM vs. DEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio Emerging Markets ETF (SPEM) and WisdomTree Emerging Markets Equity Income Fund (DEM). The values are adjusted to include any dividend payments, if applicable.

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SPEM vs. DEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPEM
SPDR Portfolio Emerging Markets ETF		0.21%25.63%11.40%10.51%-17.90%1.51%14.55%19.69%-13.26%34.82%
DEM
WisdomTree Emerging Markets Equity Income Fund		6.89%21.29%4.46%20.93%-10.43%11.49%-5.84%19.84%-7.69%26.26%

Returns By Period

In the year-to-date period, SPEM achieves a 0.21% return, which is significantly lower than DEM's 6.89% return. Over the past 10 years, SPEM has underperformed DEM with an annualized return of 8.16%, while DEM has yielded a comparatively higher 9.12% annualized return.

SPEM

1D
3.17%
1M
-7.13%
YTD
0.21%
6M
1.89%
1Y
22.70%
3Y*
14.39%
5Y*
4.29%
10Y*
8.16%

DEM

1D
2.73%
1M
-3.50%
YTD
6.89%
6M
9.69%
1Y
23.52%
3Y*
15.42%
5Y*
8.66%
10Y*
9.12%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio Emerging Markets ETF

WisdomTree Emerging Markets Equity Income Fund

Often compared with SPEM:
SPEM vs. VWOSPEM vs. EEMSPEM vs. EMXCSPEM vs. ESGESPEM vs. BKEMSPEM vs. EMGFSPEM vs. EMCR
Often compared with DEM:
DEM vs. DVYEDEM vs. FNDEDEM vs. AVEMDEM vs. EEMDEM vs. DGREDEM vs. FEMKXDEM vs. VXUS

SPEM vs. DEM - Expense Ratio Comparison

SPEM has a 0.11% expense ratio, which is lower than DEM's 0.63% expense ratio.

DEM
WisdomTree Emerging Markets Equity Income Fund
SPEM
SPDR Portfolio Emerging Markets ETF

Return for Risk

SPEM vs. DEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPEM
SPEM Risk / Return Rank: 7474
Overall Rank
SPEM Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
SPEM Sortino Ratio Rank: 7474
Sortino Ratio Rank
SPEM Omega Ratio Rank: 7474
Omega Ratio Rank
SPEM Calmar Ratio Rank: 7474
Calmar Ratio Rank
SPEM Martin Ratio Rank: 7272
Martin Ratio Rank
DEM
DEM Risk / Return Rank: 8383
Overall Rank
DEM Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
DEM Sortino Ratio Rank: 8484
Sortino Ratio Rank
DEM Omega Ratio Rank: 8383
Omega Ratio Rank
DEM Calmar Ratio Rank: 7979
Calmar Ratio Rank
DEM Martin Ratio Rank: 8585
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.

SPEM vs. DEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Emerging Markets ETF (SPEM) and WisdomTree Emerging Markets Equity Income Fund (DEM). 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.

SPEMDEMDifference

Sharpe ratio

Return per unit of total volatility

1.28

1.57

-0.29

Sortino ratio

Return per unit of downside risk

1.80

2.16

-0.36

Omega ratio

Gain probability vs. loss probability

1.26

1.32

-0.06

Calmar ratio

Return relative to maximum drawdown

1.82

2.07

-0.26

Martin ratio

Return relative to average drawdown

7.01

9.47

-2.47

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

SPEM vs. DEM - Sharpe Ratio Comparison

The current SPEM Sharpe Ratio is 1.28, which is comparable to the DEM Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of SPEM and DEM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

SPEMDEMDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.28

1.57

-0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

0.57

-0.32

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.51

-0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.21

0.20

+0.01

Correlation

The correlation between SPEM and DEM is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SPEM vs. DEM - Dividend Comparison

SPEM's dividend yield for the trailing twelve months is around 2.77%, less than DEM's 4.22% yield.

TTM20252024202320222021202020192018201720162015
SPEM
SPDR Portfolio Emerging Markets ETF		2.77%2.77%2.78%2.80%3.38%3.14%1.92%2.94%2.34%1.12%1.51%2.40%
DEM
WisdomTree Emerging Markets Equity Income Fund		4.22%4.88%5.24%5.49%8.62%5.87%4.21%4.78%4.47%3.67%3.63%5.21%

Drawdowns

SPEM vs. DEM - Drawdown Comparison

The maximum SPEM drawdown since its inception was -64.41%, which is greater than DEM's maximum drawdown of -51.85%. Use the drawdown chart below to compare losses from any high point for SPEM and DEM.

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Drawdown Indicators

SPEMDEMDifference

Max Drawdown

Largest peak-to-trough decline

-64.41%

-51.85%

-12.56%

Max Drawdown (1Y)

Largest decline over 1 year

-12.35%

-11.39%

-0.96%

Max Drawdown (5Y)

Largest decline over 5 years

-31.94%

-27.18%

-4.76%

Max Drawdown (10Y)

Largest decline over 10 years

-36.06%

-37.79%

+1.73%

Current Drawdown

Current decline from peak

-8.56%

-4.57%

-3.99%

Average Drawdown

Average peak-to-trough decline

-14.87%

-13.01%

-1.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

2.49%

+0.71%

Volatility

SPEM vs. DEM - Volatility Comparison

SPDR Portfolio Emerging Markets ETF (SPEM) has a higher volatility of 8.25% compared to WisdomTree Emerging Markets Equity Income Fund (DEM) at 7.33%. This indicates that SPEM's price experiences larger fluctuations and is considered to be riskier than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPEMDEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.25%

7.33%

+0.92%

Volatility (6M)

Calculated over the trailing 6-month period

12.23%

10.05%

+2.18%

Volatility (1Y)

Calculated over the trailing 1-year period

17.79%

15.04%

+2.75%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.95%

15.23%

+1.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.76%

18.01%

+0.75%