DARP vs. EMEQ

Last updated Jun 13, 2026

DARP (Grizzle Growth ETF) and EMEQ (Nomura Focused Emerging Markets Equity ETF) are both exchange-traded funds - DARP is a Large Cap Growth Equities fund actively managed by Grizzle, while EMEQ is a Emerging Markets Diversified fund actively managed by Nomura. Both are actively managed. Over the past year, DARP returned 69.08% vs 137.32% for EMEQ. A 0.66 correlation means they provide meaningful diversification when combined. DARP charges 0.75%/yr vs 0.86%/yr for EMEQ.

Performance

DARP vs. EMEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grizzle Growth ETF (DARP) 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, DARP achieves a 26.22% return, which is significantly lower than EMEQ's 70.13% return.

DARP

• 1D: 0.87%
• 1M: -3.88%
• YTD: 26.22%
• 6M: 29.87%
• 1Y: 69.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMEQ

• 1D: 0.81%
• 1M: 4.62%
• YTD: 70.13%
• 6M: 81.37%
• 1Y: 137.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DARP vs. EMEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DARP Grizzle Growth ETF	26.22%	40.19%	15.56%
EMEQ Nomura Focused Emerging Markets Equity ETF	70.13%	69.78%	-0.73%

Correlation

The correlation between DARP and EMEQ is 0.71, 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	0.71
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.66

The correlation between DARP and EMEQ has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

DARP vs. EMEQ - Sectors Allocation Comparison

Sectors	DARP	EMEQ
Technology	45.8%	56.6%
Communication Services	19.4%	5.7%
Industrials	12.0%	5.8%
Energy	9.9%	7.0%
Consumer Cyclical	6.6%	8.2%
Utilities	5.4%	-
Basic Materials	4.7%	1.8%
Healthcare	1.4%	1.0%
Consumer Defensive	-	2.9%
Financial Services	-	11.1%
Real Estate	-	-

Return for Risk

DARP vs. EMEQ — Risk / Return Rank

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

DARP

DARP Risk / Return Rank: 89
DARP Sharpe Ratio Rank: 92
DARP Sortino Ratio Rank: 85
DARP Omega Ratio Rank: 84
DARP Calmar Ratio Rank: 93
DARP Martin Ratio Rank: 93

EMEQ

EMEQ Risk / Return Rank: 95
EMEQ Sharpe Ratio Rank: 97
EMEQ Sortino Ratio Rank: 93
EMEQ Omega Ratio Rank: 94
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 95

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.

DARP vs. EMEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grizzle Growth ETF (DARP) 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.

	DARP	EMEQ	Difference
Sharpe ratio: Return per unit of total volatility	2.88	3.89	-1.01
Sortino ratio: Return per unit of downside risk	3.31	4.03	-0.72
Omega ratio: Gain probability vs. loss probability	1.45	1.61	-0.16
Calmar ratio: Return relative to maximum drawdown	5.88	7.71	-1.84
Martin ratio: Return relative to average drawdown	21.19	28.78	-7.60

DARP vs. EMEQ - Sharpe Ratio Comparison

The current DARP Sharpe Ratio is 2.88, which is comparable to the EMEQ Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of DARP 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

DARP vs. EMEQ - Drawdown Comparison

The maximum DARP drawdown since its inception was -30.27%, which is greater than EMEQ's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for DARP and EMEQ.

Drawdown Indicators

	DARP	EMEQ	Difference
Max Drawdown Largest peak-to-trough decline	-30.27%	-19.99%	-10.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.82%	-17.91%	+6.09%
Current Drawdown Current decline from peak	-5.58%	-5.69%	+0.11%
Average Drawdown Average peak-to-trough decline	-4.65%	-4.05%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.27%	4.79%	-1.52%

Volatility

DARP vs. EMEQ - Volatility Comparison

The current volatility for Grizzle Growth ETF (DARP) is 8.82%, while Nomura Focused Emerging Markets Equity ETF (EMEQ) has a volatility of 19.34%. This indicates that DARP 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

	DARP	EMEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.82%	19.34%	-10.52%
Volatility (6M) Calculated over the trailing 6-month period	18.77%	32.54%	-13.77%
Volatility (1Y) Calculated over the trailing 1-year period	24.11%	35.48%	-11.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.29%	31.87%	-5.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.29%	31.87%	-5.58%

DARP vs. EMEQ - Expense Ratio Comparison

DARP has a 0.75% expense ratio, which is lower than EMEQ's 0.86% expense ratio.

Dividends

DARP vs. EMEQ - Dividend Comparison

DARP's dividend yield for the trailing twelve months is around 0.34%, less than EMEQ's 1.62% yield.

Position	TTM	2025	2024	2023
DARP Grizzle Growth ETF	0.34%	0.43%	1.93%	0.32%
EMEQ Nomura Focused Emerging Markets Equity ETF	1.62%	2.76%	0.84%	0.00%

Frequently Asked Questions

Can I hold both DARP and EMEQ in my portfolio?

DARP and EMEQ have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DARP or EMEQ?

EMEQ has higher volatility (19.34%) compared to DARP (8.82%). In terms of maximum drawdown, DARP dropped -30.27% vs EMEQ's -19.99%.

Which ETF is better, DARP or EMEQ?

On 1-year performance, EMEQ leads with 137.32% vs 69.08% for DARP. On fees, DARP is cheaper at 0.75% per year. On volatility, DARP has been the lower-risk option at 8.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DARP or EMEQ?

Over the 1-year period, EMEQ has performed better with a 137.32% return vs 69.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DARP or EMEQ?

DARP is cheaper with a 0.75% expense ratio, compared with 0.86% for EMEQ.

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

EMEQ has the higher dividend yield at 1.62%, compared with 0.34% for DARP.

What is the main difference between DARP and EMEQ?

DARP is categorized as Large Cap Growth Equities, while EMEQ is Emerging Markets Diversified. They also come from different issuers: Grizzle and Nomura. Their fees differ too: 0.75% for DARP and 0.86% for EMEQ.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (3.89 vs 2.88), 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.