SPEM vs. DFEM
Compare and contrast key facts about SPDR Portfolio Emerging Markets ETF (SPEM) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM).
SPEM and DFEM 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. DFEM is an actively managed fund by Dimensional. It was launched on Apr 26, 2022.
Performance
SPEM vs. DFEM - Performance Comparison
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SPEM vs. DFEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPEM SPDR Portfolio Emerging Markets ETF | 0.21% | 25.63% | 11.40% | 10.51% | -4.87% |
DFEM Dimensional Emerging Markets Core Equity 2 ETF | 4.58% | 29.51% | 7.53% | 13.91% | -8.69% |
Returns By Period
In the year-to-date period, SPEM achieves a 0.21% return, which is significantly lower than DFEM's 4.58% 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%
DFEM
- 1D
- 3.38%
- 1M
- -8.36%
- YTD
- 4.58%
- 6M
- 8.55%
- 1Y
- 33.76%
- 3Y*
- 16.41%
- 5Y*
- —
- 10Y*
- —
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SPEM vs. DFEM - Expense Ratio Comparison
SPEM has a 0.11% expense ratio, which is lower than DFEM's 0.39% expense ratio.
Return for Risk
SPEM vs. DFEM — Risk / Return Rank
SPEM
DFEM
SPEM vs. DFEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio Emerging Markets ETF (SPEM) and Dimensional Emerging Markets Core Equity 2 ETF (DFEM). 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.
| SPEM | DFEM | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.28 | 1.78 | -0.50 |
Sortino ratioReturn per unit of downside risk | 1.80 | 2.36 | -0.57 |
Omega ratioGain probability vs. loss probability | 1.26 | 1.35 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.82 | 2.69 | -0.87 |
Martin ratioReturn relative to average drawdown | 7.01 | 10.49 | -3.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPEM | DFEM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.78 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.67 | -0.46 |
Correlation
The correlation between SPEM and DFEM is 0.97, 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. DFEM - Dividend Comparison
SPEM's dividend yield for the trailing twelve months is around 2.77%, more than DFEM's 2.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DFEM Dimensional Emerging Markets Core Equity 2 ETF | 2.18% | 2.32% | 2.50% | 2.38% | 1.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPEM vs. DFEM - Drawdown Comparison
The maximum SPEM drawdown since its inception was -64.41%, which is greater than DFEM's maximum drawdown of -20.82%. Use the drawdown chart below to compare losses from any high point for SPEM and DFEM.
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Drawdown Indicators
| SPEM | DFEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.41% | -20.82% | -43.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.35% | -12.29% | -0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -31.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | — | — |
Current DrawdownCurrent decline from peak | -8.56% | -9.15% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -14.87% | -5.16% | -9.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.20% | 3.16% | +0.04% |
Volatility
SPEM vs. DFEM - Volatility Comparison
The current volatility for SPDR Portfolio Emerging Markets ETF (SPEM) is 8.25%, while Dimensional Emerging Markets Core Equity 2 ETF (DFEM) has a volatility of 10.03%. This indicates that SPEM experiences smaller price fluctuations and is considered to be less risky than DFEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPEM | DFEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.25% | 10.03% | -1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 12.23% | 13.86% | -1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.79% | 19.09% | -1.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.95% | 16.80% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.76% | 16.80% | +1.96% |