AEF vs. SETM

Last updated Jun 4, 2026

AEF (Aberdeen Emerging Markets Equity Income Fund, Inc.) is a stock, while SETM (Sprott Energy Transition Materials ETF) is Energy Equities fund tracking the Nasdaq Sprott Energy Transition Materials Select Index - AUD - Benchmark TR Gross. Over the past 3 years, AEF returned 34.80%/yr vs 30.90%/yr for SETM. A 0.54 correlation means they provide meaningful diversification when combined.

Performance

AEF vs. SETM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and Sprott Energy Transition Materials ETF (SETM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEF achieves a 44.40% return, which is significantly higher than SETM's 27.22% return.

AEF

• 1D: -2.38%
• 1M: 6.04%
• YTD: 44.40%
• 6M: 52.45%
• 1Y: 100.60%
• 3Y*: 34.80%
• 5Y*: 10.32%
• 10Y*: 13.13%

SETM

• 1D: -4.09%
• 1M: 2.39%
• YTD: 27.22%
• 6M: 33.66%
• 1Y: 144.21%
• 3Y*: 30.90%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AEF vs. SETM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
AEF Aberdeen Emerging Markets Equity Income Fund, Inc.	44.40%	50.22%	9.43%	-3.72%
SETM Sprott Energy Transition Materials ETF	27.22%	95.27%	-13.24%	-11.03%

Correlation

The correlation between AEF and SETM is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023	0.54

The correlation between AEF and SETM has been stable across timeframes, ranging from 0.48 to 0.54 - a consistent structural relationship.

Return for Risk

AEF vs. SETM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEF

AEF Risk / Return Rank: 96
AEF Sharpe Ratio Rank: 97
AEF Sortino Ratio Rank: 97
AEF Omega Ratio Rank: 97
AEF Calmar Ratio Rank: 91
AEF Martin Ratio Rank: 95

SETM

SETM Risk / Return Rank: 82
SETM Sharpe Ratio Rank: 91
SETM Sortino Ratio Rank: 71
SETM Omega Ratio Rank: 72
SETM Calmar Ratio Rank: 90
SETM Martin Ratio Rank: 84

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.

AEF vs. SETM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) and Sprott Energy Transition Materials ETF (SETM). 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.

	AEF	SETM	Difference
Sharpe ratio: Return per unit of total volatility	4.13	3.25	+0.89
Sortino ratio: Return per unit of downside risk	4.93	3.29	+1.64
Omega ratio: Gain probability vs. loss probability	1.68	1.44	+0.24
Calmar ratio: Return relative to maximum drawdown	5.07	5.61	-0.54
Martin ratio: Return relative to average drawdown	20.05	17.42	+2.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEF vs. SETM - Sharpe Ratio Comparison

The current AEF Sharpe Ratio is 4.13, which is comparable to the SETM Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of AEF and SETM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEF	SETM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.13	3.25	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.59	-0.19

Drawdowns

AEF vs. SETM - Drawdown Comparison

The maximum AEF drawdown since its inception was -63.87%, which is greater than SETM's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for AEF and SETM.

Drawdown Indicators

	AEF	SETM	Difference
Max Drawdown Largest peak-to-trough decline	-63.87%	-42.81%	-21.06%
Max Drawdown (1Y) Largest decline over 1 year	-19.96%	-25.85%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.96%	-42.81%	+22.85%
Max Drawdown (5Y) Largest decline over 5 years	-47.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.20%	—	—
Current Drawdown Current decline from peak	-2.38%	-7.30%	+4.92%
Average Drawdown Average peak-to-trough decline	-24.05%	-14.26%	-9.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.04%	8.31%	-3.27%

Volatility

AEF vs. SETM - Volatility Comparison

The current volatility for Aberdeen Emerging Markets Equity Income Fund, Inc. (AEF) is 9.07%, while Sprott Energy Transition Materials ETF (SETM) has a volatility of 13.58%. This indicates that AEF experiences smaller price fluctuations and is considered to be less risky than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEF	SETM	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	13.58%	-4.51%
Volatility (6M) Calculated over the trailing 6-month period	21.29%	34.49%	-13.20%
Volatility (1Y) Calculated over the trailing 1-year period	24.49%	44.71%	-20.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.38%	36.57%	-14.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.68%	36.57%	-14.89%

Dividends

AEF vs. SETM - Dividend Comparison

AEF's dividend yield for the trailing twelve months is around 7.22%, more than SETM's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEF Aberdeen Emerging Markets Equity Income Fund, Inc.	7.22%	9.29%	7.51%	7.63%	8.54%	6.73%	3.37%	2.23%	20.97%	5.19%	7.05%	12.19%
SETM Sprott Energy Transition Materials ETF	1.23%	1.56%	2.07%	2.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AEF and SETM in my portfolio?

AEF and SETM have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEF or SETM?

SETM has higher volatility (13.58%) compared to AEF (9.07%). In terms of maximum drawdown, AEF dropped -63.87% vs SETM's -42.81%.

Which has better risk-adjusted returns?

AEF currently has the higher Sharpe Ratio (4.13 vs 3.25), 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.