CRAK vs. MEMX
CRAK (VanEck Oil Refiners ETF) and MEMX (Matthews Emerging Markets Ex China Active ETF) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while MEMX is a Emerging Markets Diversified fund actively managed by Matthews. CRAK is passively managed, while MEMX is actively managed. Over the past 3 years, CRAK returned 19.21%/yr vs 25.86%/yr for MEMX. At a 0.44 correlation, their price movements are largely independent. CRAK charges 0.62%/yr vs 0.79%/yr for MEMX.
Performance
CRAK vs. MEMX - Performance Comparison
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Returns By Period
In the year-to-date period, CRAK achieves a 25.47% return, which is significantly lower than MEMX's 34.10% return.
CRAK
- 1D
- -2.93%
- 1M
- -4.46%
- YTD
- 25.47%
- 6M
- 21.62%
- 1Y
- 50.69%
- 3Y*
- 19.21%
- 5Y*
- 12.50%
- 10Y*
- 13.08%
MEMX
- 1D
- 3.31%
- 1M
- 8.49%
- YTD
- 34.10%
- 6M
- 43.05%
- 1Y
- 68.84%
- 3Y*
- 25.86%
- 5Y*
- —
- 10Y*
- —
CRAK vs. MEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 25.47% | 39.11% | -15.05% | 13.90% |
MEMX Matthews Emerging Markets Ex China Active ETF | 34.10% | 35.88% | 5.50% | 11.33% |
Correlation
The correlation between CRAK and MEMX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2023 | 0.44 |
Over the past year, the correlation between CRAK and MEMX has dropped to 0.19 - well below their long-term average of 0.44, suggesting their price drivers have been diverging.
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Return for Risk
CRAK vs. MEMX — Risk / Return Rank
CRAK
MEMX
CRAK vs. MEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) and Matthews Emerging Markets Ex China Active ETF (MEMX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CRAK | MEMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.53 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.41 | 4.71 | +0.70 |
| Martin ratioReturn relative to average drawdown | 15.53 | 18.06 | -2.53 |
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Drawdowns
CRAK vs. MEMX - Drawdown Comparison
The maximum CRAK drawdown since its inception was -58.80%, which is greater than MEMX's maximum drawdown of -19.27%. Use the drawdown chart below to compare losses from any high point for CRAK and MEMX.
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Drawdown Indicators
| CRAK | MEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.80% | -19.27% | -39.53% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -14.70% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -35.61% | -19.27% | -16.34% |
Max Drawdown (5Y)Largest decline over 5 years | -35.61% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -58.80% | — | — |
Current DrawdownCurrent decline from peak | -9.41% | -0.20% | -9.21% |
Average DrawdownAverage peak-to-trough decline | -12.47% | -3.50% | -8.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 3.82% | -0.55% |
Volatility
CRAK vs. MEMX - Volatility Comparison
The current volatility for VanEck Oil Refiners ETF (CRAK) is 6.48%, while Matthews Emerging Markets Ex China Active ETF (MEMX) has a volatility of 12.30%. This indicates that CRAK experiences smaller price fluctuations and is considered to be less risky than MEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRAK | MEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.48% | 12.30% | -5.82% |
Volatility (6M)Calculated over the trailing 6-month period | 15.01% | 21.45% | -6.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.94% | 23.60% | -4.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.72% | 17.81% | +2.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.18% | 17.81% | +4.37% |
CRAK vs. MEMX - Expense Ratio Comparison
CRAK has a 0.62% expense ratio, which is lower than MEMX's 0.79% expense ratio.
Dividends
CRAK vs. MEMX - Dividend Comparison
CRAK's dividend yield for the trailing twelve months is around 1.61%, less than MEMX's 3.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CRAK VanEck Oil Refiners ETF | 1.61% | 2.02% | 5.60% | 3.65% | 3.08% | 2.40% | 2.64% | 1.49% | 2.42% | 1.66% | 3.42% | 0.47% |
MEMX Matthews Emerging Markets Ex China Active ETF | 3.64% | 4.88% | 0.99% | 1.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CRAK and MEMX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEMX has higher volatility (12.30%) compared to CRAK (6.48%). In terms of maximum drawdown, CRAK dropped -58.80% vs MEMX's -19.27%.
On 3-year performance, MEMX leads with 25.86% vs 19.21% for CRAK. On fees, CRAK is cheaper at 0.62% per year. On volatility, CRAK has been the lower-risk option at 6.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MEMX has performed better with a 25.86% return vs 19.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CRAK is cheaper with a 0.62% expense ratio, compared with 0.79% for MEMX.
MEMX has the higher dividend yield at 3.64%, compared with 1.61% for CRAK.
CRAK is categorized as Energy Equities, while MEMX is Emerging Markets Diversified. They also come from different issuers: VanEck and Matthews. Their fees differ too: 0.62% for CRAK and 0.79% for MEMX.
MEMX currently has the higher Sharpe Ratio (2.94 vs 2.69), 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.
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