EEMX vs. ADVE

Last updated Jul 17, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and ADVE (Matthews Asia Dividend Active ETF) are both exchange-traded funds - EEMX is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex Fossil Fuels Index, while ADVE is a Asia Pacific Equities fund actively managed by Matthews. EEMX is passively managed, while ADVE is actively managed. Over the past year, EEMX returned 35.77% vs 29.19% for ADVE. Their correlation of 0.89 suggests significant overlap in exposure. EEMX charges 0.30%/yr vs 0.79%/yr for ADVE.

Performance

EEMX vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMX achieves a 18.90% return, which is significantly higher than ADVE's 15.76% return.

EEMX

• 1D: -2.22%
• 1M: -6.82%
• 6M: 12.08%
• YTD: 18.90%
• 1Y: 35.77%
• 3Y*: 19.97%
• 5Y*: 7.13%
• 10Y*: —

ADVE

• 1D: -1.10%
• 1M: -3.27%
• 6M: 9.43%
• YTD: 15.76%
• 1Y: 29.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EEMX vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	18.90%	35.23%	7.22%	8.02%
ADVE Matthews Asia Dividend Active ETF	15.76%	26.12%	7.02%	4.58%

Correlation

The correlation between EEMX and ADVE is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.89

The correlation between EEMX and ADVE has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

EEMX vs. ADVE - Sectors Allocation Comparison

Sectors	EEMX	ADVE
Technology	27.9%	29.3%
Financial Services	10.6%	27.7%
Consumer Cyclical	5.7%	5.8%
Communication Services	4.0%	12.0%
Industrials	2.6%	12.2%
Basic Materials	2.6%	4.1%
Consumer Defensive	1.5%	2.7%
Healthcare	1.4%	0.9%
Utilities	0.8%	0.9%
Real Estate	0.6%	3.4%
Energy	0.3%	1.0%

Return for Risk

EEMX vs. ADVE — Risk / Return Rank

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

EEMX

EEMX Risk / Return Rank: 57
EEMX Sharpe Ratio Rank: 52
EEMX Sortino Ratio Rank: 48
EEMX Omega Ratio Rank: 57
EEMX Calmar Ratio Rank: 65
EEMX Martin Ratio Rank: 63

ADVE

ADVE Risk / Return Rank: 59
ADVE Sharpe Ratio Rank: 55
ADVE Sortino Ratio Rank: 54
ADVE Omega Ratio Rank: 59
ADVE Calmar Ratio Rank: 63
ADVE Martin Ratio Rank: 64

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.

EEMX vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Matthews Asia Dividend Active ETF (ADVE). 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.

	EEMX	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	1.46	1.53	-0.07
Sortino ratio: Return per unit of downside risk	1.97	2.14	-0.17
Omega ratio: Gain probability vs. loss probability	1.28	1.29	-0.01
Calmar ratio: Return relative to maximum drawdown	2.59	2.50	+0.09
Martin ratio: Return relative to average drawdown	8.82	8.88	-0.06

EEMX vs. ADVE - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 1.46, which is comparable to the ADVE Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of EEMX and ADVE, 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

EEMX vs. ADVE - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for EEMX and ADVE.

Drawdown Indicators

	EEMX	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-18.41%	-21.49%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-11.73%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.66%	—	—
Current Drawdown Current decline from peak	-10.07%	-5.33%	-4.74%
Average Drawdown Average peak-to-trough decline	-14.62%	-3.21%	-11.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	3.29%	+0.78%

Volatility

EEMX vs. ADVE - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 10.37% compared to Matthews Asia Dividend Active ETF (ADVE) at 6.89%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	6.89%	+3.48%
Volatility (6M) Calculated over the trailing 6-month period	22.59%	16.97%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	24.56%	19.17%	+5.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.04%	16.38%	+3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	16.38%	+4.31%

EEMX vs. ADVE - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is lower than ADVE's 0.79% expense ratio.

Dividends

EEMX vs. ADVE - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.90%, less than ADVE's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
ADVE Matthews Asia Dividend Active ETF	2.23%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	1.90%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%

Frequently Asked Questions

Can I hold both EEMX and ADVE in my portfolio?

With a correlation of 0.90, EEMX and ADVE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EEMX or ADVE?

EEMX has higher volatility (10.37%) compared to ADVE (6.89%). In terms of maximum drawdown, EEMX dropped -39.90% vs ADVE's -18.41%.

Which ETF is better, EEMX or ADVE?

On 1-year performance, EEMX leads with 35.77% vs 29.19% for ADVE. On fees, EEMX is cheaper at 0.30% per year. On volatility, ADVE has been the lower-risk option at 6.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMX or ADVE?

Over the 1-year period, EEMX has performed better with a 35.77% return vs 29.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMX or ADVE?

EEMX is cheaper with a 0.30% expense ratio, compared with 0.79% for ADVE.

Which ETF pays a higher dividend yield, EEMX or ADVE?

ADVE has the higher dividend yield at 2.23%, compared with 1.90% for EEMX.

What is the main difference between EEMX and ADVE?

EEMX is categorized as Emerging Markets Equities, while ADVE is Asia Pacific Equities. They also come from different issuers: State Street and Matthews. Their fees differ too: 0.30% for EEMX and 0.79% for ADVE.

Which has better risk-adjusted returns?

ADVE currently has the higher Sharpe Ratio (1.53 vs 1.46), 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.