ASEA vs. EMAS.L

Last updated Apr 1, 2026

Compare and contrast key facts about Global X FTSE Southeast Asia ETF (ASEA) and SPDR MSCI EM Asia UCITS ETF (EMAS.L).

ASEA and EMAS.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ASEA is a passively managed fund by Global X that tracks the performance of the FTSE/ASEAN 40 Index. It was launched on Feb 17, 2011. EMAS.L is a passively managed fund by State Street that tracks the performance of the MSCI AC Asia Ex Japan NR USD. It was launched on May 13, 2011. Both ASEA and EMAS.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ASEA vs. EMAS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X FTSE Southeast Asia ETF (ASEA) and SPDR MSCI EM Asia UCITS ETF (EMAS.L). The values are adjusted to include any dividend payments, if applicable.

ASEA vs. EMAS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ASEA Global X FTSE Southeast Asia ETF	6.01%	19.80%	9.82%	4.88%	5.24%	4.66%	-7.88%	8.34%	-7.58%	35.06%
EMAS.L SPDR MSCI EM Asia UCITS ETF	1.66%	32.27%	10.97%	5.94%	-21.64%	-5.80%	27.51%	17.75%	-14.90%	42.20%

Different Trading Currencies

ASEA is traded in USD, while EMAS.L is traded in GBP. To make them comparable, the EMAS.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, ASEA achieves a 6.01% return, which is significantly higher than EMAS.L's 1.66% return. Over the past 10 years, ASEA has underperformed EMAS.L with an annualized return of 6.92%, while EMAS.L has yielded a comparatively higher 8.34% annualized return.

ASEA

• 1D: 2.16%
• 1M: -4.66%
• YTD: 6.01%
• 6M: 15.95%
• 1Y: 29.24%
• 3Y*: 13.03%
• 5Y*: 9.54%
• 10Y*: 6.92%

EMAS.L

• 1D: 0.27%
• 1M: -12.48%
• YTD: 1.66%
• 6M: 4.50%
• 1Y: 30.72%
• 3Y*: 14.69%
• 5Y*: 2.29%
• 10Y*: 8.34%

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

ASEA vs. EMAS.L - Expense Ratio Comparison

ASEA has a 0.65% expense ratio, which is higher than EMAS.L's 0.55% expense ratio.

ASEA

Global X FTSE Southeast Asia ETF

EMAS.L

SPDR MSCI EM Asia UCITS ETF

Return for Risk

ASEA vs. EMAS.L — Risk / Return Rank

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

ASEA

ASEA Risk / Return Rank: 86
ASEA Sharpe Ratio Rank: 85
ASEA Sortino Ratio Rank: 88
ASEA Omega Ratio Rank: 87
ASEA Calmar Ratio Rank: 82
ASEA Martin Ratio Rank: 88

EMAS.L

EMAS.L Risk / Return Rank: 76
EMAS.L Sharpe Ratio Rank: 80
EMAS.L Sortino Ratio Rank: 77
EMAS.L Omega Ratio Rank: 76
EMAS.L Calmar Ratio Rank: 78
EMAS.L Martin Ratio Rank: 68

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.

ASEA vs. EMAS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X FTSE Southeast Asia ETF (ASEA) and SPDR MSCI EM Asia UCITS ETF (EMAS.L). 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.

	ASEA	EMAS.L	Difference
Sharpe ratio Return per unit of total volatility	1.67	1.52	+0.15
Sortino ratio Return per unit of downside risk	2.40	1.99	+0.41
Omega ratio Gain probability vs. loss probability	1.34	1.29	+0.05
Calmar ratio Return relative to maximum drawdown	2.31	2.15	+0.16
Martin ratio Return relative to average drawdown	10.51	7.51	+2.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASEA vs. EMAS.L - Sharpe Ratio Comparison

The current ASEA Sharpe Ratio is 1.67, which is comparable to the EMAS.L Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of ASEA and EMAS.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASEA	EMAS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	1.52	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.12	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.43	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.32	-0.06

Correlation

The correlation between ASEA and EMAS.L is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ASEA vs. EMAS.L - Dividend Comparison

ASEA's dividend yield for the trailing twelve months is around 3.73%, while EMAS.L has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASEA Global X FTSE Southeast Asia ETF	3.73%	3.95%	3.61%	3.76%	2.23%	4.19%	2.27%	2.51%	3.08%	1.59%	2.78%	3.64%
EMAS.L SPDR MSCI EM Asia UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ASEA vs. EMAS.L - Drawdown Comparison

The maximum ASEA drawdown since its inception was -44.16%, roughly equal to the maximum EMAS.L drawdown of -46.26%. Use the drawdown chart below to compare losses from any high point for ASEA and EMAS.L.

Drawdown Indicators

	ASEA	EMAS.L	Difference
Max Drawdown Largest peak-to-trough decline	-44.16%	-34.79%	-9.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.51%	-12.49%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.20%	-29.16%	+6.96%
Max Drawdown (10Y) Largest decline over 10 years	-44.16%	-34.79%	-9.37%
Current Drawdown Current decline from peak	-5.91%	-11.14%	+5.23%
Average Drawdown Average peak-to-trough decline	-10.73%	-11.81%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.81%	-1.06%

Volatility

ASEA vs. EMAS.L - Volatility Comparison

The current volatility for Global X FTSE Southeast Asia ETF (ASEA) is 6.65%, while SPDR MSCI EM Asia UCITS ETF (EMAS.L) has a volatility of 8.92%. This indicates that ASEA experiences smaller price fluctuations and is considered to be less risky than EMAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASEA	EMAS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	8.92%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	14.06%	-3.52%
Volatility (1Y) Calculated over the trailing 1-year period	17.59%	20.09%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	19.55%	-4.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	19.58%	-1.99%