EEMX vs. TDEC

Last updated Jul 14, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - EEMX is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex Fossil Fuels Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, EEMX returned 39.11% vs 16.81% for TDEC. Their correlation of 0.93 suggests significant overlap in exposure. EEMX charges 0.30%/yr vs 0.95%/yr for TDEC.

Performance

EEMX vs. TDEC - 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 FT Vest Emerging Markets Buffer ETF - December (TDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEMX achieves a 19.72% return, which is significantly higher than TDEC's 7.07% return.

EEMX

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

TDEC

• 1D: -1.31%
• 1M: -1.03%
• 6M: 3.56%
• YTD: 7.07%
• 1Y: 16.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EEMX vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	19.72%	35.23%	-0.85%
TDEC FT Vest Emerging Markets Buffer ETF - December	7.07%	21.39%	-0.75%

Correlation

The correlation between EEMX and TDEC is 0.93, 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	0.93
Correlation (All Time) Calculated using the full available price history since Dec 23, 2024	0.93

The correlation between EEMX and TDEC has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

EEMX vs. TDEC — 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

TDEC

TDEC Risk / Return Rank: 60
TDEC Sharpe Ratio Rank: 59
TDEC Sortino Ratio Rank: 57
TDEC Omega Ratio Rank: 73
TDEC Calmar Ratio Rank: 52
TDEC Martin Ratio Rank: 62

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. TDEC - 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 FT Vest Emerging Markets Buffer ETF - December (TDEC). 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	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.57	+0.04
Sortino ratio: Return per unit of downside risk	2.12	2.16	-0.04
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.83	2.07	+0.76
Martin ratio: Return relative to average drawdown	9.92	8.73	+1.19

EEMX vs. TDEC - Sharpe Ratio Comparison

The current EEMX Sharpe Ratio is 1.61, which is comparable to the TDEC Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of EEMX and TDEC, 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. TDEC - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for EEMX and TDEC.

Drawdown Indicators

	EEMX	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-10.30%	-29.60%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-8.16%	-5.73%
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.19%	—	—
Current Drawdown Current decline from peak	-9.45%	-2.67%	-6.78%
Average Drawdown Average peak-to-trough decline	-14.63%	-1.07%	-13.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	1.93%	+2.02%

Volatility

EEMX vs. TDEC - Volatility Comparison

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) has a higher volatility of 11.67% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 4.06%. This indicates that EEMX's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEMX	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	4.06%	+7.61%
Volatility (6M) Calculated over the trailing 6-month period	22.48%	10.09%	+12.39%
Volatility (1Y) Calculated over the trailing 1-year period	24.46%	10.79%	+13.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	11.98%	+8.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	11.98%	+8.71%

EEMX vs. TDEC - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

EEMX vs. TDEC - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.88%, while TDEC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEMX and TDEC in my portfolio?

With a correlation of 0.93, EEMX and TDEC 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 TDEC?

EEMX has higher volatility (11.67%) compared to TDEC (4.06%). In terms of maximum drawdown, EEMX dropped -39.90% vs TDEC's -10.30%.

Which ETF is better, EEMX or TDEC?

On 1-year performance, EEMX leads with 39.11% vs 16.81% for TDEC. On fees, EEMX is cheaper at 0.30% per year. On volatility, TDEC has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EEMX or TDEC?

Over the 1-year period, EEMX has performed better with a 39.11% return vs 16.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EEMX or TDEC?

EEMX is cheaper with a 0.30% expense ratio, compared with 0.95% for TDEC.

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

EEMX has the higher dividend yield at 1.88%, compared with 0.00% for TDEC.

What is the main difference between EEMX and TDEC?

EEMX is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. EEMX tracks MSCI Emerging Markets ex Fossil Fuels Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: State Street and FT Vest. Their fees differ too: 0.30% for EEMX and 0.95% for TDEC.

Which has better risk-adjusted returns?

EEMX currently has the higher Sharpe Ratio (1.61 vs 1.57), 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.