EEMX vs. MSCI

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and MSCI Inc. (MSCI).

EEMX is a passively managed fund by State Street that tracks the performance of the MSCI Emerging Markets ex Fossil Fuels Index. It was launched on Oct 24, 2016.

Performance

EEMX vs. MSCI - 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 MSCI Inc. (MSCI). The values are adjusted to include any dividend payments, if applicable.

EEMX vs. MSCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	3.64%	35.23%	7.22%	9.80%	-19.75%	-3.57%	19.55%	18.56%	-16.76%	38.46%
MSCI MSCI Inc.	-5.68%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%

Returns By Period

In the year-to-date period, EEMX achieves a 3.64% return, which is significantly higher than MSCI's -5.68% return.

EEMX

• 1D: 3.94%
• 1M: -9.41%
• YTD: 3.64%
• 6M: 7.81%
• 1Y: 34.77%
• 3Y*: 16.29%
• 5Y*: 4.14%
• 10Y*: —

MSCI

• 1D: 1.34%
• 1M: -5.74%
• YTD: -5.68%
• 6M: -4.33%
• 1Y: -3.40%
• 3Y*: -0.04%
• 5Y*: 5.82%
• 10Y*: 23.21%

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

Return for Risk

EEMX vs. MSCI — Risk / Return Rank

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

EEMX

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

MSCI

MSCI Risk / Return Rank: 35
MSCI Sharpe Ratio Rank: 37
MSCI Sortino Ratio Rank: 32
MSCI Omega Ratio Rank: 32
MSCI Calmar Ratio Rank: 38
MSCI Martin Ratio Rank: 37

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. MSCI - 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 MSCI Inc. (MSCI). 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	MSCI	Difference
Sharpe ratio Return per unit of total volatility	1.69	-0.11	+1.81
Sortino ratio Return per unit of downside risk	2.30	0.05	+2.25
Omega ratio Gain probability vs. loss probability	1.33	1.01	+0.33
Calmar ratio Return relative to maximum drawdown	2.47	-0.12	+2.59
Martin ratio Return relative to average drawdown	9.80	-0.34	+10.14
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. MSCI - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 1.69, which is higher than the MSCI Sharpe Ratio of -0.11. The chart below compares the historical Sharpe Ratios of EEMX and MSCI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EEMX	MSCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	-0.11	+1.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.19	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.75	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.53	-0.16

Correlation

The correlation between EEMX and MSCI is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EEMX vs. MSCI - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 2.20%, more than MSCI's 1.38% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	2.20%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%	0.00%
MSCI MSCI Inc.	1.38%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%

Drawdowns

EEMX vs. MSCI - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, smaller than the maximum MSCI drawdown of -69.06%. Use the drawdown chart below to compare losses from any high point for EEMX and MSCI.

Drawdown Indicators

	EEMX	MSCI	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-69.06%	+29.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-18.07%	+4.18%
Max Drawdown (5Y) Largest decline over 5 years	-37.33%	-43.74%	+6.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.74%	—
Current Drawdown Current decline from peak	-10.49%	-16.20%	+5.71%
Average Drawdown Average peak-to-trough decline	-14.97%	-13.12%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	6.48%	-2.98%

Volatility

EEMX vs. MSCI - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 11.31% compared to MSCI Inc. (MSCI) at 6.58%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than MSCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	MSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.31%	6.58%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	15.70%	21.10%	-5.40%
Volatility (1Y) Calculated over the trailing 1-year period	20.65%	30.07%	-9.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	30.55%	-11.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.03%	31.03%	-11.00%