EEMX vs. EMMF

Last updated Jun 5, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and EMMF (WisdomTree Emerging Markets Multifactor Fund) are both Asia Pacific Equities funds. EEMX is passively managed, while EMMF is actively managed. Over the past 5 years, EEMX returned 7.82%/yr vs 10.50%/yr for EMMF. Their correlation of 0.87 suggests significant overlap in exposure. EEMX charges 0.30%/yr vs 0.48%/yr for EMMF.

Performance

EEMX vs. EMMF - 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 WisdomTree Emerging Markets Multifactor Fund (EMMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EEMX having a 27.49% return and EMMF slightly lower at 26.23%.

EEMX

• 1D: -1.13%
• 1M: 6.59%
• YTD: 27.49%
• 6M: 30.63%
• 1Y: 54.54%
• 3Y*: 24.62%
• 5Y*: 7.82%
• 10Y*: —

EMMF

• 1D: -1.39%
• 1M: 7.35%
• YTD: 26.23%
• 6M: 27.33%
• 1Y: 45.89%
• 3Y*: 23.37%
• 5Y*: 10.50%
• 10Y*: —

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

EEMX vs. EMMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	27.49%	35.23%	7.22%	9.80%	-19.75%	-3.57%	19.55%	18.56%	-8.71%
EMMF WisdomTree Emerging Markets Multifactor Fund	26.23%	21.22%	9.45%	20.59%	-13.47%	5.97%	9.25%	2.30%	-6.64%

Correlation

The correlation between EEMX and EMMF is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 13, 2018	0.87

The correlation between EEMX and EMMF has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

EEMX vs. EMMF - Sectors Allocation Comparison

Sectors	EEMX	EMMF
Technology	38.7%	32.9%
Financial Services	20.7%	8.2%
Consumer Cyclical	10.1%	14.0%
Industrials	7.6%	3.8%
Communication Services	7.3%	6.6%
Basic Materials	6.3%	1.9%
Consumer Defensive	3.2%	4.4%
Healthcare	3.0%	0.3%
Utilities	1.5%	2.0%
Real Estate	1.1%	-
Energy	0.5%	2.1%

Return for Risk

EEMX vs. EMMF — Risk / Return Rank

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

EEMX

EEMX Risk / Return Rank: 80
EEMX Sharpe Ratio Rank: 82
EEMX Sortino Ratio Rank: 78
EEMX Omega Ratio Rank: 81
EEMX Calmar Ratio Rank: 78
EEMX Martin Ratio Rank: 80

EMMF

EMMF Risk / Return Rank: 85
EMMF Sharpe Ratio Rank: 86
EMMF Sortino Ratio Rank: 83
EMMF Omega Ratio Rank: 86
EMMF Calmar Ratio Rank: 83
EMMF Martin Ratio Rank: 86

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. EMMF - 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 WisdomTree Emerging Markets Multifactor Fund (EMMF). 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.

	EEMX	EMMF	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.77	-0.13
Sortino ratio: Return per unit of downside risk	3.43	3.67	-0.24
Omega ratio: Gain probability vs. loss probability	1.48	1.52	-0.05
Calmar ratio: Return relative to maximum drawdown	3.95	4.34	-0.39
Martin ratio: Return relative to average drawdown	15.59	17.88	-2.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EEMX vs. EMMF - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 2.64, which is comparable to the EMMF Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of EEMX and EMMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EEMX	EMMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.77	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.73	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.53	-0.06

Drawdowns

EEMX vs. EMMF - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than EMMF's maximum drawdown of -32.57%. Use the drawdown chart below to compare losses from any high point for EEMX and EMMF.

Drawdown Indicators

	EEMX	EMMF	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-32.57%	-7.33%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-10.62%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-16.02%	-1.62%
Max Drawdown (5Y) Largest decline over 5 years	-37.08%	-24.99%	-12.09%
Current Drawdown Current decline from peak	-2.43%	-2.58%	+0.15%
Average Drawdown Average peak-to-trough decline	-14.73%	-7.45%	-7.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	2.57%	+0.94%

Volatility

EEMX vs. EMMF - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 8.86% compared to WisdomTree Emerging Markets Multifactor Fund (EMMF) at 7.26%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than EMMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	EMMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.86%	7.26%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	18.24%	14.55%	+3.69%
Volatility (1Y) Calculated over the trailing 1-year period	20.78%	16.64%	+4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.15%	14.39%	+4.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.22%	16.62%	+3.60%

EEMX vs. EMMF - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is lower than EMMF's 0.48% expense ratio.

Dividends

EEMX vs. EMMF - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.77%, less than EMMF's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	1.77%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%
EMMF WisdomTree Emerging Markets Multifactor Fund	1.87%	2.45%	1.30%	1.62%	3.48%	2.64%	1.93%	2.93%	0.66%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEMX and EMMF in my portfolio?

With a correlation of 0.92, EEMX and EMMF 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 EMMF?

EEMX has higher volatility (8.86%) compared to EMMF (7.26%). In terms of maximum drawdown, EEMX dropped -39.90% vs EMMF's -32.57%.

Which ETF is better, EEMX or EMMF?

On 5-year performance, EMMF leads with 10.50% vs 7.82% for EEMX. On fees, EEMX is cheaper at 0.30% per year. On volatility, EMMF has been the lower-risk option at 7.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMX or EMMF?

Over the 5-year period, EMMF has performed better with a 10.50% return vs 7.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMX or EMMF?

EEMX is cheaper with a 0.30% expense ratio, compared with 0.48% for EMMF.

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

EMMF has the higher dividend yield at 1.87%, compared with 1.77% for EEMX.

What is the main difference between EEMX and EMMF?

They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.30% for EEMX and 0.48% for EMMF.

Which has better risk-adjusted returns?

EMMF currently has the higher Sharpe Ratio (2.77 vs 2.64), 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.