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UEVM vs. EMGF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

UEVM vs. EMGF

Last updated Jun 24, 2026

UEVM (VictoryShares Emerging Markets Value Momentum ETF) and EMGF (iShares Edge MSCI Multifactor Emerging Markets ETF) are both exchange-traded funds - UEVM is a Momentum fund tracking the Nasdaq Victory Emerging Market Value Momentum Index, while EMGF is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Diversified Multiple-Factor Index. Both are passively managed. Over the past 5 years, UEVM returned 7.30%/yr vs 9.98%/yr for EMGF. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

UEVM vs. EMGF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VictoryShares Emerging Markets Value Momentum ETF (UEVM) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, UEVM achieves a 6.12% return, which is significantly lower than EMGF's 25.77% return.

UEVM

1D
-2.16%
1M
-0.96%
YTD
6.12%
6M
5.85%
1Y
19.69%
3Y*
17.49%
5Y*
7.30%
10Y*
—

EMGF

1D
-5.41%
1M
2.79%
YTD
25.77%
6M
26.91%
1Y
46.43%
3Y*
25.52%
5Y*
9.98%
10Y*
11.25%
*Multi-year figures are annualized to reflect compound growth (CAGR)

UEVM vs. EMGF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
UEVM
VictoryShares Emerging Markets Value Momentum ETF		6.12%22.74%11.92%17.41%-14.60%11.09%3.77%10.71%-16.96%3.04%
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		25.77%31.41%9.06%10.86%-16.55%6.65%10.27%20.96%-19.71%4.99%

Correlation

The correlation between UEVM and EMGF is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.85

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

0.88

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

0.89

Correlation (All Time)
Calculated using the full available price history since Oct 26, 2017

0.91

The correlation between UEVM and EMGF has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

UEVM vs. EMGF - Sectors Allocation Comparison

Sectors
UEVM
EMGF

Financial Services

23.9%
17.4%

Technology

15.9%
41.4%

Industrials

10.9%
7.2%

Consumer Cyclical

9.9%
9.6%

Consumer Defensive

8.0%
3.4%

Healthcare

8.0%
2.4%

Energy

6.0%
3.6%

Basic Materials

5.2%
5.3%

Utilities

5.0%
2.3%

Real Estate

4.1%
1.0%

Communication Services

3.0%
6.5%

Financial Services

UEVM
23.9%
EMGF
17.4%

Technology

UEVM
15.9%
EMGF
41.4%

Industrials

UEVM
10.9%
EMGF
7.2%

Consumer Cyclical

UEVM
9.9%
EMGF
9.6%

Consumer Defensive

UEVM
8.0%
EMGF
3.4%

Healthcare

UEVM
8.0%
EMGF
2.4%

Energy

UEVM
6.0%
EMGF
3.6%

Basic Materials

UEVM
5.2%
EMGF
5.3%

Utilities

UEVM
5.0%
EMGF
2.3%

Real Estate

UEVM
4.1%
EMGF
1.0%

Communication Services

UEVM
3.0%
EMGF
6.5%

Compare stocks, funds, or ETFs

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

VictoryShares Emerging Markets Value Momentum ETF

iShares Edge MSCI Multifactor Emerging Markets ETF

Often compared with UEVM:
UEVM vs. IEMGUEVM vs. EMMFUEVM vs. SPEMUEVM vs. VWOUEVM vs. HAWXUEVM vs. SCHDUEVM vs. IXUS
Often compared with EMGF:
EMGF vs. EEMEMGF vs. SPEMEMGF vs. AVESEMGF vs. FDEMEMGF vs. VWOEMGF vs. XCEMEMGF vs. SPY

Return for Risk

UEVM vs. EMGF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
UEVM
UEVM Risk / Return Rank: 3939
Overall Rank
UEVM Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
UEVM Sortino Ratio Rank: 3535
Sortino Ratio Rank
UEVM Omega Ratio Rank: 3636
Omega Ratio Rank
UEVM Calmar Ratio Rank: 4343
Calmar Ratio Rank
UEVM Martin Ratio Rank: 4343
Martin Ratio Rank
EMGF
EMGF Risk / Return Rank: 6868
Overall Rank
EMGF Sharpe Ratio Rank: 6767
Sharpe Ratio Rank
EMGF Sortino Ratio Rank: 6060
Sortino Ratio Rank
EMGF Omega Ratio Rank: 7070
Omega Ratio Rank
EMGF Calmar Ratio Rank: 7272
Calmar Ratio Rank
EMGF Martin Ratio Rank: 7272
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.

UEVM vs. EMGF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VictoryShares Emerging Markets Value Momentum ETF (UEVM) and iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF). 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.

UEVMEMGFDifference
Sharpe ratioReturn per unit of total volatility
1.25
2.06

-0.81

Sortino ratioReturn per unit of downside risk
1.74
2.66

-0.92

Omega ratioGain probability vs. loss probability

1.23

1.39

-0.16

Calmar ratioReturn relative to maximum drawdown

2.02

3.45

-1.42

Martin ratioReturn relative to average drawdown

6.57

12.68

-6.11

UEVM vs. EMGF - Sharpe Ratio Comparison

The current UEVM Sharpe Ratio is 1.25, which is lower than the EMGF Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of UEVM and EMGF, 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

UEVM vs. EMGF - Drawdown Comparison

The maximum UEVM drawdown since its inception was -45.44%, which is greater than EMGF's maximum drawdown of -40.23%. Use the drawdown chart below to compare losses from any high point for UEVM and EMGF.

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Drawdown Indicators

UEVMEMGFDifference

Max Drawdown

Largest peak-to-trough decline

-45.44%

-40.23%

-5.21%

Max Drawdown (1Y)

Largest decline over 1 year

-9.79%

-13.54%

+3.75%

Max Drawdown (3Y)

Largest decline over 3 years

-18.88%

-17.65%

-1.23%

Max Drawdown (5Y)

Largest decline over 5 years

-26.73%

-28.20%

+1.47%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.23%

—

Current Drawdown

Current decline from peak

-4.76%

-5.41%

+0.65%

Average Drawdown

Average peak-to-trough decline

-11.62%

-10.02%

-1.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

3.67%

-0.67%

Volatility

UEVM vs. EMGF - Volatility Comparison

The current volatility for VictoryShares Emerging Markets Value Momentum ETF (UEVM) is 6.38%, while iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a volatility of 12.64%. This indicates that UEVM experiences smaller price fluctuations and is considered to be less risky than EMGF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

UEVMEMGFDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.38%

12.64%

-6.26%

Volatility (6M)

Calculated over the trailing 6-month period

13.13%

20.71%

-7.58%

Volatility (1Y)

Calculated over the trailing 1-year period

15.84%

22.67%

-6.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.05%

18.34%

-2.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.42%

19.67%

-1.25%

UEVM vs. EMGF - Expense Ratio Comparison

Both UEVM and EMGF have an expense ratio of 0.45%.

Dividends

UEVM vs. EMGF - Dividend Comparison

UEVM's dividend yield for the trailing twelve months is around 2.85%, more than EMGF's 2.00% yield.

PositionTTM2025202420232022202120202019201820172016
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		2.00%2.52%3.42%5.94%4.04%2.48%1.95%2.63%2.73%1.94%2.04%
UEVM
VictoryShares Emerging Markets Value Momentum ETF		2.85%4.02%5.65%4.71%3.46%4.49%2.19%2.79%2.34%0.79%0.00%

Frequently Asked Questions

UEVM and EMGF have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMGF has higher volatility (12.64%) compared to UEVM (6.38%). In terms of maximum drawdown, UEVM dropped -45.44% vs EMGF's -40.23%.

On 5-year performance, EMGF leads with 9.98% vs 7.30% for UEVM. Both ETFs have the same 0.45% expense ratio. On volatility, UEVM has been the lower-risk option at 6.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EMGF has performed better with a 9.98% return vs 7.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

UEVM and EMGF have the same expense ratio: 0.45% per year.

UEVM has the higher dividend yield at 2.85%, compared with 2.00% for EMGF.

UEVM is categorized as Momentum, while EMGF is Emerging Markets Equities. UEVM tracks Nasdaq Victory Emerging Market Value Momentum Index, while EMGF tracks MSCI Emerging Markets Diversified Multiple-Factor Index. They also come from different issuers: Victory Capital and iShares.

EMGF currently has the higher Sharpe Ratio (2.06 vs 1.25), 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.

Portfolio Optimizer

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