PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
EEMO vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMO vs. EEM

Last updated Aug 2, 2026
Documentation

EEMO (Invesco S&P Emerging Markets Momentum ETF) and EEM (iShares MSCI Emerging Markets ETF) are both exchange-traded funds - EEMO is a Momentum fund tracking the S&P Momentum Emerging Plus LargeMidCap Index, while EEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets Index (Net). Both are passively managed. Over the past 10 years, EEMO returned 6.35%/yr vs 8.32%/yr for EEM. Their 0.70 correlation means they have sometimes moved together and sometimes differently. EEMO charges 0.31%/yr vs 0.72%/yr for EEM.

Performance

EEMO vs. EEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Emerging Markets Momentum ETF (EEMO) and iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, EEMO achieves a 13.88% return, which is significantly lower than EEM's 17.75% return. Over the past 10 years, EEMO has underperformed EEM with an annualized return of 6.35%, while EEM has yielded a comparatively higher 8.32% annualized return.

EEMO

1D
-0.40%
1M
-11.19%
6M
8.68%
YTD
13.88%
1Y
20.52%
3Y*
13.43%
5Y*
4.39%
10Y*
6.35%
ALL TIME*
1.62%

EEM

1D
0.79%
1M
-2.45%
6M
9.01%
YTD
17.75%
1Y
35.57%
3Y*
18.45%
5Y*
6.91%
10Y*
8.32%
ALL TIME*
9.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EEM

iShares MSCI Emerging Markets ETF
$1.56B$1.60B$1.90B

EEMO

Invesco S&P Emerging Markets Momentum ETF
$285.36K$494.03K$516.10K

EEMO vs. EEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMO
Invesco S&P Emerging Markets Momentum ETF		13.88%10.99%9.88%13.90%-18.73%-5.57%9.66%21.17%-17.24%49.65%
EEM
iShares MSCI Emerging Markets ETF		17.75%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%

Correlation

The correlation between EEMO and EEM is 0.89, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.89

Correlation (3Y)
Balances recent behavior with more history.

0.82

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.83

Correlation (10Y)
Provides a long-term view across more market conditions.

0.82

Correlation (All Time)
Calculated using the full available price history since Feb 24, 2012

0.70

The correlation between EEMO and EEM shifts across timeframes, from 0.70 (all time) to 0.89 (1 year), reflecting how their relationship changes across market environments.

EEMO vs. EEM - Sectors Allocation Comparison

Sectors
EEMO
EEM

Technology

56.8%
45.9%

Financial Services

15.0%
18.2%

Basic Materials

9.6%
5.4%

Industrials

8.2%
6.2%

Consumer Cyclical

2.6%
7.4%

Healthcare

2.2%
2.5%

Energy

1.7%
3.2%

Utilities

1.4%
1.8%

Communication Services

1.3%
6.0%

Consumer Defensive

0.9%
2.5%

Real Estate

0.3%
1.0%

Technology

EEMO
56.8%
EEM
45.9%

Financial Services

EEMO
15.0%
EEM
18.2%

Basic Materials

EEMO
9.6%
EEM
5.4%

Industrials

EEMO
8.2%
EEM
6.2%

Consumer Cyclical

EEMO
2.6%
EEM
7.4%

Healthcare

EEMO
2.2%
EEM
2.5%

Energy

EEMO
1.7%
EEM
3.2%

Utilities

EEMO
1.4%
EEM
1.8%

Communication Services

EEMO
1.3%
EEM
6.0%

Consumer Defensive

EEMO
0.9%
EEM
2.5%

Real Estate

EEMO
0.3%
EEM
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco S&P Emerging Markets Momentum ETF

iShares MSCI Emerging Markets ETF

Often compared with EEMO:
EEMO vs. IDMOEEMO vs. PIEEEMO vs. VWOEEMO vs. AVEMEEMO vs. SPMOEEMO vs. PXHEEMO vs. EEMS
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. VXUSEEM vs. IS3N.DEEEM vs. EEMSEEM vs. SPEM

Return for Risk

EEMO vs. EEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EEMO
EEMO Risk / Return Rank: 2727
Overall Rank
EEMO Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
EEMO Sortino Ratio Rank: 2626
Sortino Ratio Rank
EEMO Omega Ratio Rank: 3030
Omega Ratio Rank
EEMO Calmar Ratio Rank: 2424
Calmar Ratio Rank
EEMO Martin Ratio Rank: 3232
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 6363
Overall Rank
EEM Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 5656
Sortino Ratio Rank
EEM Omega Ratio Rank: 6464
Omega Ratio Rank
EEM Calmar Ratio Rank: 7171
Calmar Ratio Rank
EEM Martin Ratio Rank: 6363
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EEMO vs. EEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Emerging Markets Momentum ETF (EEMO) and iShares MSCI Emerging Markets ETF (EEM). 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.

EEMOEEMDifference
Sharpe ratioReturn per unit of total volatility
0.57
1.42

-0.85

Sortino ratioReturn per unit of downside risk
1.00
1.93

-0.93

Omega ratioGain probability vs. loss probability

1.15

1.27

-0.12

Calmar ratioReturn relative to maximum drawdown

0.72

2.44

-1.71

Martin ratioReturn relative to average drawdown

2.94

7.49

-4.55

EEMO vs. EEM - Sharpe Ratio Comparison

The current EEMO Sharpe Ratio is 0.57, which is lower than the EEM Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of EEMO and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

EEMO vs. EEM - Drawdown Comparison

The maximum EEMO drawdown since its inception was -48.47%, smaller than the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for EEMO and EEM.

Loading charts...

Drawdown Indicators

EEMOEEMDifference

Max Drawdown

Largest peak-to-trough decline

-48.47%

-66.43%

+17.96%

Max Drawdown (1Y)

Largest decline over 1 year

-27.41%

-14.24%

-13.17%

Max Drawdown (3Y)

Largest decline over 3 years

-27.41%

-17.29%

-10.12%

Max Drawdown (5Y)

Largest decline over 5 years

-29.59%

-35.01%

+5.42%

Max Drawdown (10Y)

Largest decline over 10 years

-46.57%

-39.82%

-6.75%

Current Drawdown

Current decline from peak

-22.95%

-10.00%

-12.95%

Average Drawdown

Average peak-to-trough decline

-20.08%

-15.95%

-4.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.74%

4.63%

+2.11%

Volatility

EEMO vs. EEM - Volatility Comparison

Invesco S&P Emerging Markets Momentum ETF (EEMO) has a higher volatility of 16.65% compared to iShares MSCI Emerging Markets ETF (EEM) at 9.09%. This indicates that EEMO's price experiences larger fluctuations and is considered to be riskier than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

EEMOEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.65%

9.09%

+7.56%

Volatility (6M)

Calculated over the trailing 6-month period

33.96%

22.40%

+11.56%

Volatility (1Y)

Calculated over the trailing 1-year period

35.14%

24.46%

+10.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.09%

19.83%

+2.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.02%

20.80%

+2.22%

EEMO vs. EEM - Expense Ratio Comparison

EEMO has a 0.31% expense ratio, which is lower than EEM's 0.72% expense ratio.

Dividends

EEMO vs. EEM - Dividend Comparison

EEMO's dividend yield for the trailing twelve months is around 1.99%, more than EEM's 1.74% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.74%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
EEMO
Invesco S&P Emerging Markets Momentum ETF		1.99%2.31%2.57%3.65%3.82%1.51%1.53%2.13%13.10%5.13%1.55%2.92%

Frequently Asked Questions

EEMO and EEM have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEMO has higher volatility (16.65%) compared to EEM (9.09%). In terms of maximum drawdown, EEMO dropped -48.47% vs EEM's -66.43%.

On 10-year performance, EEM leads with 8.32% vs 6.35% for EEMO. On fees, EEMO is cheaper at 0.31% per year. On volatility, EEM has been the lower-risk option at 9.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EEM has performed better with a 8.32% return vs 6.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEMO is cheaper with a 0.31% expense ratio, compared with 0.72% for EEM.

EEMO has the higher dividend yield at 1.99%, compared with 1.74% for EEM.

EEMO is categorized as Momentum, while EEM is Emerging Markets Equities. EEMO tracks S&P Momentum Emerging Plus LargeMidCap Index, while EEM tracks MSCI Emerging Markets Index (Net). They also come from different issuers: Invesco and iShares. Their fees differ too: 0.31% for EEMO and 0.72% for EEM.

EEM currently has the higher Sharpe Ratio (1.42 vs 0.57), 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.

Portfolio Optimizer

Find the right allocation for EEMO and EEM

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer