DEM vs EYLD

DEMBWisdomTree Emerging Markets High Dividend Fund

EYLDCCambria Emerging Shareholder Yield ETF

In short

DEM One of the original emerging-market dividend ETFs (2007). DEM ranks EM payers by yield, keeps only the top slice, then weights them by the actual dollars of dividends they pay. Income-first EM, not market-cap EM.

EYLD Most emerging-market dividend funds count the dividend. EYLD counts the whole payout: dividends, net buybacks and debt paydown, then screens the survivors on value. Live since 2016, 0.63% a year, no waiver involved.

Stated mandate

DEM The fund seeks to track high-dividend-yielding companies in emerging markets and provides targeted emerging-market all-cap equity exposure.

EYLD The fund focuses on emerging-market companies that return cash to shareholders through dividends, share buybacks, and net debt reduction.

Why people hold it

• DEM Launched in 2007, it is one of the earliest EM high-dividend funds and has grown into a multi-billion-dollar portfolio spread across roughly 500 stocks.
• Weights companies by the cash dividends they actually pay, so dividend dollars rather than market cap drive the portfolio, with weights reset at the annual screening.sec.gov
• The screen is strict: only the highest-yielding 30% of WisdomTree's emerging-market dividend universe makes the index.sec.gov
• Hugs its index closely and sits among the easier funds in its peer group to get in and out of.

• EYLD Shareholder yield, not just dividend yield. Cambria ranks emerging-market names on dividends plus net buybacks, then factors in debt paydown and value metrics like P/B, P/E and EV/EBITDA.sec.gov
• Top 100 names, weighted roughly equally per the prospectus, so no single mega-cap runs the portfolio the way it does in a cap-weighted EM index.sec.gov
• Running since July 2016 under Cambria's Meb Faber, the manager who built the firm's shareholder yield lineup. Cash goes out quarterly.cambriafunds.com

Worth knowing

• DEM At 0.63% a year it runs a touch above the typical fund in its peer group, and roughly triple index-tilt rival DIEM at 0.19%.
• Buying dividend dollars pulls the basket toward the biggest payers in a handful of countries and sectors; the index applies country and sector caps at each annual screening.sec.gov
• Payouts arrive quarterly and move with emerging-market dividends and currencies; a company paying today can stop paying tomorrow.wisdomtree.com

• EYLD 0.63% is near the category norm but the high end of this short list: DIEM charges 0.19%, EDIV and DVYE 0.49%, DGS 0.58%. Active screening is what the fee buys.
• Buybacks and debt paydown return cash without hitting your account, so the quarterly distribution reflects only the dividend slice of shareholder yield.
• Cambria builds this to look different from the MSCI Emerging Markets Index by sector and valuation. Divergence from the benchmark is the design, in both directions.cambriafunds.com

Full DEM profile⁠

Full EYLD profile⁠