DEM vs PZA

Comparison between WISDOMTREE EMERGING MARKETS HIGH DIVIDEND FUND (DEM, ETF) and INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF).

5-Year PerformanceDEM has outperformed PZA, delivering a return of +9.8% compared to +0.0%

DEM vs PZA - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DEM(ETF)	PZA(ETF)
Net Assets	$4B	$4.10B
Expense Ratio	0.63%	0.28%
Max Drawdown	57.03%	27.00%
Sharpe Ratio	1.59	1.14
5Y Beta	0.60	0.05
5Y Dividends CAGR	6.07%	6.11%

Net Assets

DEM

$4B

Winner

PZA

$4.10B

Expense Ratio

DEM

0.63%

Winner

PZA

0.28%

Max Drawdown

DEM

57.03%

Winner

PZA

27.00%

Sharpe Ratio

Winner

DEM

1.59

PZA

1.14

5Y Beta

DEM

0.60

Winner

PZA

0.05

5Y Dividends CAGR

DEM

6.07%

Winner

PZA

6.11%

DEM vs PZA - Historical Returns

Returns include dividend reinvestment.

Period	DEM	PZA
1 month	+1.59%	+2.10%
3 months	+12.28%	+2.97%
6 months	+18.39%	+2.79%
1 year	+28.31%	+8.47%
5 years(CAGR)	+9.83%	+0.05%
10 years(CAGR)	+9.83%	+1.84%
Max(CAGR)	+5.02%	+3.25%

DEM

+1.59%

Winner

PZA

+2.10%

Winner

DEM

+12.28%

PZA

+2.97%

Winner

DEM

+18.39%

PZA

+2.79%

Winner

DEM

+28.31%

PZA

+8.47%

5Y(CAGR)

Winner

DEM

+9.83%

PZA

+0.05%

10Y(CAGR)

Winner

DEM

+9.83%

PZA

+1.84%

Max(CAGR)

Winner

DEM

+5.02%

PZA

+3.25%

DEM vs PZA - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	DEM	PZA
2026	+16.70%	+2.39%
2025	+21.85%	+1.38%
2024	+5.66%	+0.81%
2023	+21.11%	+7.75%
2022	-10.64%	-13.00%
2021	+10.71%	+2.26%
2020	-7.42%	+4.91%
2019	+19.79%	+8.48%
2018	-8.80%	+0.07%
2017	+24.78%	+6.78%
2016	+26.16%	+0.62%
2015	-20.90%	+3.65%
2014	-10.17%	+15.05%
2013	-8.21%	-6.96%
2012	+13.65%	+9.84%
2011	-11.22%	+13.58%
2010	+20.83%	-0.41%
2009	+53.78%	+17.92%
2008	-33.89%	-12.12%
2007	+2.61%	+0.75%

DEM vs PZA Drawdown Comparison

The maximum drawdown for DEM was -51.78%, occurring on Mar 2, 2009. Recovery took 471 trading sessions.

The maximum drawdown for PZA was -24.48%, occurring on Oct 15, 2008. Recovery took 416 trading sessions.

The current DEM drawdown is -2.71%. The current PZA drawdown is -0.91%.

Rank	DEM	PZA
#1	-51.78% May 19, 2008 - Apr 1, 2010	-24.48% Jan 17, 2008 - Sep 11, 2009
#2	-47.00% Apr 29, 2011 - Jan 18, 2018	-21.69% Mar 9, 2020 - Dec 7, 2020
#3	-37.79% Jan 13, 2020 - Mar 15, 2021	-18.55% Jul 19, 2021 - Oct 25, 2022
#4	-27.12% Feb 16, 2022 - Feb 20, 2024	-12.46% Nov 30, 2012 - Jul 14, 2014
#5	-19.03% Jan 26, 2018 - Jan 2, 2020	-11.77% May 10, 2010 - Aug 3, 2011
#6	-18.42% Apr 14, 2010 - Sep 13, 2010	-7.07% Jul 8, 2016 - Aug 29, 2017
#7	-16.36% Jul 23, 2007 - Sep 27, 2007	-4.07% Oct 1, 2009 - Apr 27, 2010
#8	-15.64% Oct 7, 2024 - Jun 6, 2025	-3.43% Feb 2, 2015 - Nov 19, 2015
#9	-15.33% Oct 31, 2007 - May 15, 2008	-2.99% Dec 29, 2017 - Jan 2, 2019
#10	-9.48% Jul 11, 2024 - Sep 24, 2024	-2.99% Oct 24, 2007 - Jan 2, 2008
#11	-9.17% Jun 4, 2021 - Jan 12, 2022	-2.80% Feb 10, 2021 - May 28, 2021
#12	-7.89% Feb 25, 2026 - Apr 17, 2026	-2.29% Sep 22, 2011 - Dec 14, 2011
#13	-6.69% Jan 3, 2011 - Mar 30, 2011	-1.72% Sep 3, 2019 - Jan 6, 2020
#14	-6.36% Nov 4, 2010 - Dec 31, 2010	-1.72% Oct 15, 2014 - Dec 12, 2014
#15	-5.30% Sep 17, 2025 - Nov 10, 2025	-1.58% Feb 2, 2012 - Apr 13, 2012

Correlation

Correlation between DEM and PZA is 0.68 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.68

-101

Dividend Comparison (2007 - 2026)

DEM vs PZA dividend yield comparison.

Year	DEM	PZA
2026	0.43%	1.84%
2025	4.88%	3.55%
2024	5.24%	3.22%
2023	5.49%	2.91%
2022	8.62%	2.68%
2021	5.87%	2.34%
2020	4.21%	2.44%
2019	4.78%	2.81%
2018	4.47%	3.19%
2017	3.67%	3.04%
2016	3.63%	3.23%
2015	5.21%	3.59%
2014	5.51%	3.96%
2013	4.10%	4.27%
2012	3.29%	4.11%
2011	4.44%	4.48%
2010	3.24%	4.90%
2009	2.93%	4.68%
2008	5.85%	5.07%
2007	0.92%	0.93%