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TUR vs. DVYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TUR vs. DVYE

Last updated Jun 26, 2026

TUR (iShares MSCI Turkey ETF) and DVYE (iShares Emerging Markets Dividend ETF) are both Emerging Markets Equities funds from iShares - TUR tracks the MSCI Turkey Investable Market Index while DVYE tracks the Dow Jones Emerging Markets Select Dividend Index. Both are passively managed. Over the past 10 years, TUR returned 3.16%/yr vs 7.54%/yr for DVYE. At a 0.49 correlation, their price movements are largely independent. TUR charges 0.59%/yr vs 0.49%/yr for DVYE.

Performance

TUR vs. DVYE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Turkey ETF (TUR) and iShares Emerging Markets Dividend ETF (DVYE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TUR achieves a 15.43% return, which is significantly higher than DVYE's 5.60% return. Over the past 10 years, TUR has underperformed DVYE with an annualized return of 3.16%, while DVYE has yielded a comparatively higher 7.54% annualized return.

TUR

1D
-0.78%
1M
3.66%
YTD
15.43%
6M
13.94%
1Y
30.84%
3Y*
14.20%
5Y*
16.07%
10Y*
3.16%

DVYE

1D
0.00%
1M
-5.02%
YTD
5.60%
6M
6.01%
1Y
20.32%
3Y*
19.29%
5Y*
4.32%
10Y*
7.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

TUR vs. DVYE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
TUR
iShares MSCI Turkey ETF		15.43%-1.54%12.91%-8.83%105.75%-27.41%-1.19%14.49%-41.46%37.58%
DVYE
iShares Emerging Markets Dividend ETF		5.60%28.36%8.89%20.88%-31.38%11.02%-2.51%15.41%-5.56%27.04%

Correlation

The correlation between TUR and DVYE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.35

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

0.25

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

0.29

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

0.41

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2012

0.49

The correlation between TUR and DVYE shifts across timeframes, from 0.25 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

TUR vs. DVYE - Sectors Allocation Comparison

Sectors
TUR
DVYE

Industrials

29.9%
17.0%

Financial Services

17.1%
28.5%

Consumer Defensive

13.3%
2.1%

Basic Materials

11.9%
8.8%

Energy

6.2%
18.2%

Consumer Cyclical

6.0%
4.3%

Real Estate

5.5%
4.0%

Utilities

4.0%
7.0%

Communication Services

3.2%
1.7%

Healthcare

2.3%

-

Technology

0.8%
8.4%

Industrials

TUR
29.9%
DVYE
17.0%

Financial Services

TUR
17.1%
DVYE
28.5%

Consumer Defensive

TUR
13.3%
DVYE
2.1%

Basic Materials

TUR
11.9%
DVYE
8.8%

Energy

TUR
6.2%
DVYE
18.2%

Consumer Cyclical

TUR
6.0%
DVYE
4.3%

Real Estate

TUR
5.5%
DVYE
4.0%

Utilities

TUR
4.0%
DVYE
7.0%

Communication Services

TUR
3.2%
DVYE
1.7%

Healthcare

TUR
2.3%
DVYE

-

Technology

TUR
0.8%
DVYE
8.4%

Compare stocks, funds, or ETFs

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

iShares MSCI Turkey ETF

iShares Emerging Markets Dividend ETF

Often compared with TUR:
TUR vs. VOOTUR vs. HEDJTUR vs. EPOLTUR vs. AMRTUR vs. SPYTUR vs. SFMTUR vs. VGK
Often compared with DVYE:
DVYE vs. DEMDVYE vs. DVYDVYE vs. DVYADVYE vs. SCHDDVYE vs. SCHEDVYE vs. IQDYDVYE vs. QQQ

Return for Risk

TUR vs. DVYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TUR
TUR Risk / Return Rank: 4040
Overall Rank
TUR Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
TUR Sortino Ratio Rank: 3939
Sortino Ratio Rank
TUR Omega Ratio Rank: 4040
Omega Ratio Rank
TUR Calmar Ratio Rank: 4444
Calmar Ratio Rank
TUR Martin Ratio Rank: 3838
Martin Ratio Rank
DVYE
DVYE Risk / Return Rank: 4747
Overall Rank
DVYE Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
DVYE Sortino Ratio Rank: 4141
Sortino Ratio Rank
DVYE Omega Ratio Rank: 4242
Omega Ratio Rank
DVYE Calmar Ratio Rank: 5858
Calmar Ratio Rank
DVYE Martin Ratio Rank: 5151
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.

TUR vs. DVYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Turkey ETF (TUR) and iShares Emerging Markets Dividend ETF (DVYE). 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.

TURDVYEDifference
Sharpe ratioReturn per unit of total volatility
1.22
1.37

-0.15

Sortino ratioReturn per unit of downside risk
1.82
1.89

-0.08

Omega ratioGain probability vs. loss probability

1.24

1.24

-0.01

Calmar ratioReturn relative to maximum drawdown

1.93

2.46

-0.53

Martin ratioReturn relative to average drawdown

5.36

7.55

-2.19

TUR vs. DVYE - Sharpe Ratio Comparison

The current TUR Sharpe Ratio is 1.22, which is comparable to the DVYE Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of TUR and DVYE, 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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Drawdowns

TUR vs. DVYE - Drawdown Comparison

The maximum TUR drawdown since its inception was -72.34%, which is greater than DVYE's maximum drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for TUR and DVYE.

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Drawdown Indicators

TURDVYEDifference

Max Drawdown

Largest peak-to-trough decline

-72.34%

-47.42%

-24.92%

Max Drawdown (1Y)

Largest decline over 1 year

-16.07%

-8.29%

-7.78%

Max Drawdown (3Y)

Largest decline over 3 years

-31.63%

-14.63%

-17.00%

Max Drawdown (5Y)

Largest decline over 5 years

-31.63%

-40.89%

+9.26%

Max Drawdown (10Y)

Largest decline over 10 years

-59.25%

-40.89%

-18.36%

Current Drawdown

Current decline from peak

-27.35%

-8.29%

-19.06%

Average Drawdown

Average peak-to-trough decline

-39.85%

-15.33%

-24.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.77%

2.70%

+3.07%

Volatility

TUR vs. DVYE - Volatility Comparison

iShares MSCI Turkey ETF (TUR) has a higher volatility of 7.43% compared to iShares Emerging Markets Dividend ETF (DVYE) at 5.57%. This indicates that TUR's price experiences larger fluctuations and is considered to be riskier than DVYE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TURDVYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.43%

5.57%

+1.86%

Volatility (6M)

Calculated over the trailing 6-month period

20.52%

12.36%

+8.16%

Volatility (1Y)

Calculated over the trailing 1-year period

25.43%

14.89%

+10.54%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

34.15%

17.10%

+17.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

34.29%

18.32%

+15.97%

TUR vs. DVYE - Expense Ratio Comparison

TUR has a 0.59% expense ratio, which is higher than DVYE's 0.49% expense ratio.

Dividends

TUR vs. DVYE - Dividend Comparison

TUR's dividend yield for the trailing twelve months is around 2.14%, less than DVYE's 5.11% yield.

PositionTTM20252024202320222021202020192018201720162015
DVYE
iShares Emerging Markets Dividend ETF		5.11%5.88%11.81%9.05%9.89%7.31%5.27%5.97%5.69%4.81%4.56%6.53%
TUR
iShares MSCI Turkey ETF		2.14%2.40%1.79%4.43%1.97%4.22%0.87%3.29%4.05%2.64%2.89%3.04%

Frequently Asked Questions

TUR and DVYE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

TUR has higher volatility (7.43%) compared to DVYE (5.57%). In terms of maximum drawdown, TUR dropped -72.34% vs DVYE's -47.42%.

On 10-year performance, DVYE leads with 7.54% vs 3.16% for TUR. On fees, DVYE is cheaper at 0.49% per year. On volatility, DVYE has been the lower-risk option at 5.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DVYE has performed better with a 7.54% return vs 3.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DVYE is cheaper with a 0.49% expense ratio, compared with 0.59% for TUR.

DVYE has the higher dividend yield at 5.11%, compared with 2.14% for TUR.

TUR tracks MSCI Turkey Investable Market Index, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index. Their fees differ too: 0.59% for TUR and 0.49% for DVYE.

DVYE currently has the higher Sharpe Ratio (1.37 vs 1.22), 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.

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