CF vs. EMEQ

Last updated Jun 4, 2026

CF (CF Industries Holdings, Inc.) is a stock, while EMEQ (Nomura Focused Emerging Markets Equity ETF) is Emerging Markets Diversified fund actively managed by Nomura. Over the past year, CF returned 29.01% vs 166.45% for EMEQ. At a correlation of -0.02, they often move in opposite directions.

Performance

CF vs. EMEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CF Industries Holdings, Inc. (CF) and Nomura Focused Emerging Markets Equity ETF (EMEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CF achieves a 52.19% return, which is significantly lower than EMEQ's 78.09% return.

CF

• 1D: 2.75%
• 1M: -7.00%
• YTD: 52.19%
• 6M: 48.44%
• 1Y: 29.01%
• 3Y*: 25.68%
• 5Y*: 18.55%
• 10Y*: 18.28%

EMEQ

• 1D: -1.28%
• 1M: 23.68%
• YTD: 78.09%
• 6M: 88.05%
• 1Y: 166.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CF vs. EMEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CF CF Industries Holdings, Inc.	52.19%	-7.17%	9.27%
EMEQ Nomura Focused Emerging Markets Equity ETF	78.09%	69.78%	-1.16%

Correlation

The correlation between CF and EMEQ is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.20
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	-0.02

The correlation between CF and EMEQ shifts across timeframes, from -0.20 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CF vs. EMEQ — Risk / Return Rank

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

CF

CF Risk / Return Rank: 60
CF Sharpe Ratio Rank: 63
CF Sortino Ratio Rank: 58
CF Omega Ratio Rank: 57
CF Calmar Ratio Rank: 64
CF Martin Ratio Rank: 60

EMEQ

EMEQ Risk / Return Rank: 96
EMEQ Sharpe Ratio Rank: 98
EMEQ Sortino Ratio Rank: 95
EMEQ Omega Ratio Rank: 95
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 96

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.

CF vs. EMEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CF Industries Holdings, Inc. (CF) and Nomura Focused Emerging Markets Equity ETF (EMEQ). 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.

	CF	EMEQ	Difference
Sharpe ratio: Return per unit of total volatility	0.70	5.22	-4.52
Sortino ratio: Return per unit of downside risk	1.23	5.25	-4.02
Omega ratio: Gain probability vs. loss probability	1.15	1.75	-0.60
Calmar ratio: Return relative to maximum drawdown	1.17	9.35	-8.18
Martin ratio: Return relative to average drawdown	2.09	37.42	-35.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CF vs. EMEQ - Sharpe Ratio Comparison

The current CF Sharpe Ratio is 0.70, which is lower than the EMEQ Sharpe Ratio of 5.22. The chart below compares the historical Sharpe Ratios of CF and EMEQ, 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

	CF	EMEQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	5.22	-4.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	2.95	-2.48

Drawdowns

CF vs. EMEQ - Drawdown Comparison

The maximum CF drawdown since its inception was -76.73%, which is greater than EMEQ's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for CF and EMEQ.

Drawdown Indicators

	CF	EMEQ	Difference
Max Drawdown Largest peak-to-trough decline	-76.73%	-19.99%	-56.74%
Max Drawdown (1Y) Largest decline over 1 year	-24.87%	-17.91%	-6.96%
Max Drawdown (3Y) Largest decline over 3 years	-29.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-48.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-60.74%	—	—
Current Drawdown Current decline from peak	-14.92%	-1.28%	-13.64%
Average Drawdown Average peak-to-trough decline	-24.94%	-3.97%	-20.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.92%	4.47%	+9.45%

Volatility

CF vs. EMEQ - Volatility Comparison

CF Industries Holdings, Inc. (CF) and Nomura Focused Emerging Markets Equity ETF (EMEQ) have volatilities of 15.00% and 15.18%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CF	EMEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.00%	15.18%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	35.09%	28.51%	+6.58%
Volatility (1Y) Calculated over the trailing 1-year period	41.88%	32.10%	+9.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.16%	29.97%	+8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.41%	29.97%	+10.44%

Dividends

CF vs. EMEQ - Dividend Comparison

CF's dividend yield for the trailing twelve months is around 1.72%, more than EMEQ's 1.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CF CF Industries Holdings, Inc.	1.72%	2.59%	2.34%	2.01%	1.76%	1.70%	3.10%	2.51%	2.76%	2.82%	3.81%	2.94%
EMEQ Nomura Focused Emerging Markets Equity ETF	1.55%	2.76%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CF and EMEQ in my portfolio?

CF and EMEQ have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CF or EMEQ?

EMEQ has higher volatility (15.18%) compared to CF (15.00%). In terms of maximum drawdown, CF dropped -76.73% vs EMEQ's -19.99%.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (5.22 vs 0.70), 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.