EEMX vs. SPYX

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX).

EEMX and SPYX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPYX is a passively managed fund by State Street that tracks the performance of the S&P 500 Fossil Fuel Reserves Free Index. It was launched on Nov 30, 2015. Both EEMX and SPYX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EEMX vs. SPYX - 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 State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). The values are adjusted to include any dividend payments, if applicable.

EEMX vs. SPYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	4.77%	35.23%	7.22%	9.80%	-19.75%	-3.57%	19.55%	18.56%	-16.76%	38.46%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	-4.55%	17.87%	25.46%	26.38%	-19.59%	28.06%	19.87%	31.62%	-4.26%	23.25%

Returns By Period

In the year-to-date period, EEMX achieves a 4.77% return, which is significantly higher than SPYX's -4.55% return.

EEMX

• 1D: 1.09%
• 1M: -6.81%
• YTD: 4.77%
• 6M: 8.20%
• 1Y: 35.75%
• 3Y*: 16.71%
• 5Y*: 4.37%
• 10Y*: —

SPYX

• 1D: 0.89%
• 1M: -4.60%
• YTD: -4.55%
• 6M: -2.36%
• 1Y: 17.63%
• 3Y*: 18.50%
• 5Y*: 11.41%
• 10Y*: 14.12%

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

EEMX vs. SPYX - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is higher than SPYX's 0.20% expense ratio.

EEMX

SPDR MSCI Emerging Markets Fossil Fuel Free ETF

SPYX

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF

Return for Risk

EEMX vs. SPYX — Risk / Return Rank

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

EEMX

EEMX Risk / Return Rank: 84
EEMX Sharpe Ratio Rank: 84
EEMX Sortino Ratio Rank: 85
EEMX Omega Ratio Rank: 84
EEMX Calmar Ratio Rank: 84
EEMX Martin Ratio Rank: 84

SPYX

SPYX Risk / Return Rank: 57
SPYX Sharpe Ratio Rank: 50
SPYX Sortino Ratio Rank: 54
SPYX Omega Ratio Rank: 57
SPYX Calmar Ratio Rank: 57
SPYX Martin Ratio Rank: 65

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. SPYX - 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 State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). 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	SPYX	Difference
Sharpe ratio Return per unit of total volatility	1.74	0.95	+0.79
Sortino ratio Return per unit of downside risk	2.35	1.47	+0.89
Omega ratio Gain probability vs. loss probability	1.34	1.22	+0.12
Calmar ratio Return relative to maximum drawdown	2.61	1.53	+1.08
Martin ratio Return relative to average drawdown	10.21	6.79	+3.42
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. SPYX - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 1.74, which is higher than the SPYX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of EEMX and SPYX, 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	SPYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	0.95	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.67	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.75	-0.38

Correlation

The correlation between EEMX and SPYX is 0.60, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

EEMX vs. SPYX - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 2.17%, more than SPYX's 0.97% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	2.17%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%	0.00%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.97%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Drawdowns

EEMX vs. SPYX - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than SPYX's maximum drawdown of -32.84%. Use the drawdown chart below to compare losses from any high point for EEMX and SPYX.

Drawdown Indicators

	EEMX	SPYX	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-32.84%	-7.06%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-11.82%	-2.07%
Max Drawdown (5Y) Largest decline over 5 years	-37.33%	-26.14%	-11.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.84%	—
Current Drawdown Current decline from peak	-9.51%	-6.32%	-3.19%
Average Drawdown Average peak-to-trough decline	-14.97%	-4.59%	-10.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.66%	+0.89%

Volatility

EEMX vs. SPYX - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 10.37% compared to State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) at 5.58%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than SPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	SPYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.37%	5.58%	+4.79%
Volatility (6M) Calculated over the trailing 6-month period	15.72%	9.74%	+5.98%
Volatility (1Y) Calculated over the trailing 1-year period	20.66%	18.65%	+2.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	17.05%	+1.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.03%	17.99%	+2.04%