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EEMS vs. EYLD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMS vs. EYLD

Last updated Aug 2, 2026
Documentation

EEMS (iShares MSCI Emerging Markets Small-Cap ETF) and EYLD (Cambria Emerging Shareholder Yield ETF) are both Emerging Markets Equities funds. EEMS is passively managed, while EYLD is actively managed. Over the past 10 years, EEMS returned 7.78%/yr vs 11.22%/yr for EYLD. Their 0.70 correlation means they have sometimes moved together and sometimes differently. EEMS charges 0.73%/yr vs 0.65%/yr for EYLD.

Performance

EEMS vs. EYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Small-Cap ETF (EEMS) and Cambria Emerging Shareholder Yield ETF (EYLD). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EEMS achieves a 3.97% return, which is significantly lower than EYLD's 19.91% return. Over the past 10 years, EEMS has underperformed EYLD with an annualized return of 7.78%, while EYLD has yielded a comparatively higher 11.22% annualized return.

EEMS

1D
0.35%
1M
-6.86%
6M
-2.58%
YTD
3.97%
1Y
12.59%
3Y*
10.45%
5Y*
4.98%
10Y*
7.78%
ALL TIME*
5.02%

EYLD

1D
-0.98%
1M
-0.50%
6M
9.72%
YTD
19.91%
1Y
33.83%
3Y*
21.05%
5Y*
9.40%
10Y*
11.22%
ALL TIME*
11.39%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

EEMS

iShares MSCI Emerging Markets Small-Cap ETF
$1.19M$5.05M$6.10M

EYLD

Cambria Emerging Shareholder Yield ETF
$3.51M$3.95M$5.12M

EEMS vs. EYLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMS
iShares MSCI Emerging Markets Small-Cap ETF		3.97%19.78%3.13%23.09%-19.12%18.12%19.47%11.25%-18.98%34.80%
EYLD
Cambria Emerging Shareholder Yield ETF		19.91%29.39%4.72%18.77%-16.10%11.44%10.13%22.00%-13.74%34.90%

Correlation

The correlation between EEMS and EYLD is 0.85, 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.

0.85

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

0.81

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

0.79

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

0.70

Correlation (All Time)
Calculated using the full available price history since Jul 14, 2016

0.70

The correlation between EEMS and EYLD shifts across timeframes, from 0.70 (all time) to 0.85 (1 year), reflecting how their relationship changes across market environments.

EEMS vs. EYLD - Sectors Allocation Comparison

Sectors
EEMS
EYLD

Technology

26.4%
19.5%

Industrials

18.3%
15.1%

Consumer Cyclical

10.3%
8.2%

Financial Services

10.3%
27.0%

Healthcare

8.6%
2.8%

Basic Materials

8.5%
2.8%

Real Estate

5.6%
1.8%

Consumer Defensive

4.9%
3.2%

Communication Services

2.7%
5.3%

Utilities

2.7%
5.0%

Energy

2.0%
9.3%

Technology

EEMS
26.4%
EYLD
19.5%

Industrials

EEMS
18.3%
EYLD
15.1%

Consumer Cyclical

EEMS
10.3%
EYLD
8.2%

Financial Services

EEMS
10.3%
EYLD
27.0%

Healthcare

EEMS
8.6%
EYLD
2.8%

Basic Materials

EEMS
8.5%
EYLD
2.8%

Real Estate

EEMS
5.6%
EYLD
1.8%

Consumer Defensive

EEMS
4.9%
EYLD
3.2%

Communication Services

EEMS
2.7%
EYLD
5.3%

Utilities

EEMS
2.7%
EYLD
5.0%

Energy

EEMS
2.0%
EYLD
9.3%

Compare stocks, funds, or ETFs

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

iShares MSCI Emerging Markets Small-Cap ETF

Cambria Emerging Shareholder Yield ETF

Often compared with EEMS:
EEMS vs. EEMEEMS vs. EWXEEMS vs. VWOEEMS vs. EDIVEEMS vs. AVEEEEMS vs. DRESXEEMS vs. ECOW
Often compared with EYLD:
EYLD vs. GVALEYLD vs. EDIVEYLD vs. ECOWEYLD vs. AUSFEYLD vs. FEMSEYLD vs. EWXEYLD vs. VWO

Return for Risk

EEMS vs. EYLD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EEMS
EEMS Risk / Return Rank: 2828
Overall Rank
EEMS Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
EEMS Sortino Ratio Rank: 2626
Sortino Ratio Rank
EEMS Omega Ratio Rank: 2727
Omega Ratio Rank
EEMS Calmar Ratio Rank: 2828
Calmar Ratio Rank
EEMS Martin Ratio Rank: 3232
Martin Ratio Rank
EYLD
EYLD Risk / Return Rank: 7575
Overall Rank
EYLD Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EYLD Sortino Ratio Rank: 6969
Sortino Ratio Rank
EYLD Omega Ratio Rank: 7373
Omega Ratio Rank
EYLD Calmar Ratio Rank: 8484
Calmar Ratio Rank
EYLD Martin Ratio Rank: 7777
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.

EEMS vs. EYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) and Cambria Emerging Shareholder Yield ETF (EYLD). 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.

EEMSEYLDDifference
Sharpe ratioReturn per unit of total volatility
0.62
1.65

-1.03

Sortino ratioReturn per unit of downside risk
0.95
2.26

-1.31

Omega ratioGain probability vs. loss probability

1.13

1.30

-0.18

Calmar ratioReturn relative to maximum drawdown

0.93

3.18

-2.25

Martin ratioReturn relative to average drawdown

3.00

9.68

-6.68

EEMS vs. EYLD - Sharpe Ratio Comparison

The current EEMS Sharpe Ratio is 0.62, which is lower than the EYLD Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of EEMS and EYLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EEMS vs. EYLD - Drawdown Comparison

The maximum EEMS drawdown since its inception was -48.89%, which is greater than EYLD's maximum drawdown of -41.82%. Use the drawdown chart below to compare losses from any high point for EEMS and EYLD.

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Drawdown Indicators

EEMSEYLDDifference

Max Drawdown

Largest peak-to-trough decline

-48.89%

-41.82%

-7.07%

Max Drawdown (1Y)

Largest decline over 1 year

-13.31%

-10.52%

-2.79%

Max Drawdown (3Y)

Largest decline over 3 years

-19.71%

-20.89%

+1.18%

Max Drawdown (5Y)

Largest decline over 5 years

-27.07%

-29.27%

+2.20%

Max Drawdown (10Y)

Largest decline over 10 years

-48.89%

-41.82%

-7.07%

Current Drawdown

Current decline from peak

-11.48%

-6.24%

-5.24%

Average Drawdown

Average peak-to-trough decline

-10.46%

-10.20%

-0.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.11%

3.45%

+0.66%

Volatility

EEMS vs. EYLD - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Small-Cap ETF (EEMS) is 6.47%, while Cambria Emerging Shareholder Yield ETF (EYLD) has a volatility of 6.88%. This indicates that EEMS experiences smaller price fluctuations and is considered to be less risky than EYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EEMSEYLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.47%

6.88%

-0.41%

Volatility (6M)

Calculated over the trailing 6-month period

18.25%

18.10%

+0.15%

Volatility (1Y)

Calculated over the trailing 1-year period

19.85%

20.31%

-0.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.69%

18.57%

-1.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.17%

19.08%

-0.91%

EEMS vs. EYLD - Expense Ratio Comparison

EEMS has a 0.73% expense ratio, which is higher than EYLD's 0.65% expense ratio.

Dividends

EEMS vs. EYLD - Dividend Comparison

EEMS's dividend yield for the trailing twelve months is around 3.07%, less than EYLD's 5.08% yield.

PositionTTM20252024202320222021202020192018201720162015
EEMS
iShares MSCI Emerging Markets Small-Cap ETF		3.07%3.09%2.60%2.69%0.89%3.56%2.14%2.64%3.06%2.47%2.51%2.33%
EYLD
Cambria Emerging Shareholder Yield ETF		5.08%5.40%5.16%5.54%6.97%7.27%3.02%4.21%7.87%2.77%0.75%0.00%

Frequently Asked Questions

EEMS and EYLD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EYLD has higher volatility (6.88%) compared to EEMS (6.47%). In terms of maximum drawdown, EEMS dropped -48.89% vs EYLD's -41.82%.

On 10-year performance, EYLD leads with 11.22% vs 7.78% for EEMS. On fees, EYLD is cheaper at 0.65% per year. On volatility, EEMS has been the lower-risk option at 6.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EYLD has performed better with a 11.22% return vs 7.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EYLD is cheaper with a 0.65% expense ratio, compared with 0.73% for EEMS.

EYLD has the higher dividend yield at 5.08%, compared with 3.07% for EEMS.

They also come from different issuers: iShares and Cambria. Their fees differ too: 0.73% for EEMS and 0.65% for EYLD.

EYLD currently has the higher Sharpe Ratio (1.65 vs 0.62), 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

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