EEMX vs. SCHD

Last updated Jul 14, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - EEMX is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex Fossil Fuels Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 5 years, EEMX returned 7.17%/yr vs 9.00%/yr for SCHD. At a 0.45 correlation, their price movements are largely independent. EEMX charges 0.30%/yr vs 0.06%/yr for SCHD.

Performance

EEMX vs. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EEMX having a 19.72% return and SCHD slightly higher at 20.66%.

EEMX

• 1D: -3.71%
• 1M: -4.56%
• 6M: 13.01%
• YTD: 19.72%
• 1Y: 39.11%
• 3Y*: 20.28%
• 5Y*: 7.17%
• 10Y*: —

SCHD

• 1D: 0.49%
• 1M: -0.00%
• 6M: 16.13%
• YTD: 20.66%
• 1Y: 23.51%
• 3Y*: 14.13%
• 5Y*: 9.00%
• 10Y*: 12.34%

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

EEMX vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	19.72%	35.23%	7.22%	9.80%	-19.75%	-3.57%	19.55%	18.56%	-16.76%	38.46%
SCHD Schwab U.S. Dividend Equity ETF	20.66%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between EEMX and SCHD is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since Oct 25, 2016	0.45

Over the past year, the correlation between EEMX and SCHD has dropped to 0.16 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

EEMX vs. SCHD - Sectors Allocation Comparison

Sectors	EEMX	SCHD
Technology	27.9%	19.4%
Financial Services	10.6%	9.1%
Consumer Cyclical	5.7%	6.7%
Communication Services	4.0%	6.0%
Industrials	2.6%	7.4%
Basic Materials	2.6%	1.2%
Consumer Defensive	1.5%	18.5%
Healthcare	1.4%	18.4%
Utilities	0.8%	0.0%
Real Estate	0.6%	-
Energy	0.3%	14.6%

Return for Risk

EEMX vs. SCHD — Risk / Return Rank

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

EEMX

EEMX Risk / Return Rank: 64
EEMX Sharpe Ratio Rank: 61
EEMX Sortino Ratio Rank: 55
EEMX Omega Ratio Rank: 64
EEMX Calmar Ratio Rank: 71
EEMX Martin Ratio Rank: 69

SCHD

SCHD Risk / Return Rank: 86
SCHD Sharpe Ratio Rank: 85
SCHD Sortino Ratio Rank: 90
SCHD Omega Ratio Rank: 82
SCHD Calmar Ratio Rank: 93
SCHD Martin Ratio Rank: 81

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. SCHD - 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 Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.17	-0.56
Sortino ratio: Return per unit of downside risk	2.12	3.32	-1.19
Omega ratio: Gain probability vs. loss probability	1.31	1.38	-0.08
Calmar ratio: Return relative to maximum drawdown	2.83	5.12	-2.29
Martin ratio: Return relative to average drawdown	9.92	12.47	-2.54

EEMX vs. SCHD - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 1.61, which is comparable to the SCHD Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of EEMX and SCHD, 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. SCHD - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for EEMX and SCHD.

Drawdown Indicators

	EEMX	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-33.37%	-6.53%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-4.61%	-9.28%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	-16.13%	-1.51%
Max Drawdown (5Y) Largest decline over 5 years	-35.19%	-16.85%	-18.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-9.45%	-0.03%	-9.42%
Average Drawdown Average peak-to-trough decline	-14.63%	-3.31%	-11.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	1.89%	+2.06%

Volatility

EEMX vs. SCHD - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 11.67% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.54%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	3.54%	+8.13%
Volatility (6M) Calculated over the trailing 6-month period	22.48%	7.70%	+14.78%
Volatility (1Y) Calculated over the trailing 1-year period	24.46%	10.93%	+13.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	14.36%	+5.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	16.70%	+3.99%

EEMX vs. SCHD - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

EEMX vs. SCHD - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.88%, less than SCHD's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	1.88%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.22%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both EEMX and SCHD in my portfolio?

EEMX and SCHD have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEMX or SCHD?

EEMX has higher volatility (11.67%) compared to SCHD (3.54%). In terms of maximum drawdown, EEMX dropped -39.90% vs SCHD's -33.37%.

Which ETF is better, EEMX or SCHD?

On 5-year performance, SCHD leads with 9.00% vs 7.17% for EEMX. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMX or SCHD?

Over the 5-year period, SCHD has performed better with a 9.00% return vs 7.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMX or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.30% for EEMX.

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

SCHD has the higher dividend yield at 3.22%, compared with 1.88% for EEMX.

What is the main difference between EEMX and SCHD?

EEMX is categorized as Emerging Markets Equities, while SCHD is Dividend. EEMX tracks MSCI Emerging Markets ex Fossil Fuels Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: State Street and Charles Schwab. Their fees differ too: 0.30% for EEMX and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.17 vs 1.61), 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.