CTEF vs. EMEQ

Last updated Jul 21, 2026

CTEF (Castellan Targeted Equity ETF) and EMEQ (Nomura Focused Emerging Markets Equity ETF) are both exchange-traded funds - CTEF is a Mid Cap Blend Equities fund actively managed by Castellan, while EMEQ is a Emerging Markets Diversified fund actively managed by Nomura. Both are actively managed. Over the past year, CTEF returned 64.32% vs 109.85% for EMEQ. A 0.67 correlation means they provide meaningful diversification when combined. CTEF charges 0.45%/yr vs 0.86%/yr for EMEQ.

Performance

CTEF vs. EMEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Castellan Targeted Equity ETF (CTEF) 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, CTEF achieves a 33.21% return, which is significantly lower than EMEQ's 56.90% return.

CTEF

• 1D: 0.33%
• 1M: -4.17%
• 6M: 28.28%
• YTD: 33.21%
• 1Y: 64.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 69.37%

EMEQ

• 1D: 0.73%
• 1M: -16.40%
• 6M: 43.37%
• YTD: 56.90%
• 1Y: 109.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 68.21%

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

CTEF vs. EMEQ - Yearly Performance Comparison

	2026 (YTD)	2025
CTEF Castellan Targeted Equity ETF	33.21%	33.10%
EMEQ Nomura Focused Emerging Markets Equity ETF	56.90%	40.70%

Correlation

The correlation between CTEF and EMEQ is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.67

The correlation between CTEF and EMEQ has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.

Return for Risk

CTEF vs. EMEQ — Risk / Return Rank

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

CTEF

CTEF Risk / Return Rank: 93
CTEF Sharpe Ratio Rank: 95
CTEF Sortino Ratio Rank: 93
CTEF Omega Ratio Rank: 91
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

EMEQ

EMEQ Risk / Return Rank: 92
EMEQ Sharpe Ratio Rank: 95
EMEQ Sortino Ratio Rank: 87
EMEQ Omega Ratio Rank: 91
EMEQ Calmar Ratio Rank: 95
EMEQ Martin Ratio Rank: 94

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.

CTEF vs. EMEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Castellan Targeted Equity ETF (CTEF) 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.

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.

	CTEF	EMEQ	Difference
Sharpe ratio: Return per unit of total volatility	2.79	2.82	-0.03
Sortino ratio: Return per unit of downside risk	3.63	3.09	+0.55
Omega ratio: Gain probability vs. loss probability	1.45	1.45	-0.01
Calmar ratio: Return relative to maximum drawdown	4.31	5.57	-1.26
Martin ratio: Return relative to average drawdown	19.08	18.27	+0.81

CTEF vs. EMEQ - Sharpe Ratio Comparison

The current CTEF Sharpe Ratio is 2.79, which is comparable to the EMEQ Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of CTEF 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.

Drawdowns

CTEF vs. EMEQ - Drawdown Comparison

The maximum CTEF drawdown since its inception was -15.00%, smaller than the maximum EMEQ drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for CTEF and EMEQ.

Drawdown Indicators

	CTEF	EMEQ	Difference
Max Drawdown Largest peak-to-trough decline	-15.00%	-19.99%	+4.99%
Max Drawdown (1Y) Largest decline over 1 year	-15.00%	-19.83%	+4.83%
Current Drawdown Current decline from peak	-5.75%	-19.24%	+13.49%
Average Drawdown Average peak-to-trough decline	-1.85%	-4.37%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	6.04%	-2.66%

Volatility

CTEF vs. EMEQ - Volatility Comparison

The current volatility for Castellan Targeted Equity ETF (CTEF) is 6.70%, while Nomura Focused Emerging Markets Equity ETF (EMEQ) has a volatility of 17.23%. This indicates that CTEF experiences smaller price fluctuations and is considered to be less risky than EMEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEF	EMEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	17.23%	-10.53%
Volatility (6M) Calculated over the trailing 6-month period	19.32%	36.59%	-17.27%
Volatility (1Y) Calculated over the trailing 1-year period	23.21%	39.26%	-16.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.50%	33.67%	-11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	33.67%	-11.17%

CTEF vs. EMEQ - Expense Ratio Comparison

CTEF has a 0.45% expense ratio, which is lower than EMEQ's 0.86% expense ratio.

Dividends

CTEF vs. EMEQ - Dividend Comparison

CTEF's dividend yield for the trailing twelve months is around 0.06%, less than EMEQ's 1.76% yield.

Position	TTM	2025	2024
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%
EMEQ Nomura Focused Emerging Markets Equity ETF	1.76%	2.76%	0.84%

Frequently Asked Questions

Can I hold both CTEF and EMEQ in my portfolio?

CTEF and EMEQ have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEF or EMEQ?

EMEQ has higher volatility (17.23%) compared to CTEF (6.70%). In terms of maximum drawdown, CTEF dropped -15.00% vs EMEQ's -19.99%.

Which ETF is better, CTEF or EMEQ?

On 1-year performance, EMEQ leads with 109.85% vs 64.32% for CTEF. On fees, CTEF is cheaper at 0.45% per year. On volatility, CTEF has been the lower-risk option at 6.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEF or EMEQ?

Over the 1-year period, EMEQ has performed better with a 109.85% return vs 64.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEF or EMEQ?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.86% for EMEQ.

Which ETF pays a higher dividend yield, CTEF or EMEQ?

EMEQ has the higher dividend yield at 1.76%, compared with 0.06% for CTEF.

What is the main difference between CTEF and EMEQ?

CTEF is categorized as Mid Cap Blend Equities, while EMEQ is Emerging Markets Diversified. They also come from different issuers: Castellan and Nomura. Their fees differ too: 0.45% for CTEF and 0.86% for EMEQ.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (2.82 vs 2.79), 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.