EMC vs. CLIP

Last updated Jul 17, 2026

EMC (Global X Emerging Markets Great Consumer ETF) and CLIP (Global X 1-3 Month T-Bill ETF) are both exchange-traded funds - EMC is a Emerging Markets Diversified fund actively managed by Global X, while CLIP is a Ultrashort Bond fund tracking the Solactive 1-3 month US T-Bill Index - USD. EMC is actively managed, while CLIP is passively managed. Over the past 3 years, EMC returned 12.17%/yr vs 4.64%/yr for CLIP. At a correlation of -0.04, they often move in opposite directions. EMC charges 0.75%/yr vs 0.07%/yr for CLIP.

Performance

EMC vs. CLIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Emerging Markets Great Consumer ETF (EMC) and Global X 1-3 Month T-Bill ETF (CLIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMC achieves a 15.76% return, which is significantly higher than CLIP's 1.94% return.

EMC

• 1D: -1.94%
• 1M: -6.55%
• 6M: 9.43%
• YTD: 15.76%
• 1Y: 21.32%
• 3Y*: 12.17%
• 5Y*: —
• 10Y*: —

CLIP

• 1D: 0.02%
• 1M: 0.30%
• 6M: 1.82%
• YTD: 1.94%
• 1Y: 3.90%
• 3Y*: 4.64%
• 5Y*: —
• 10Y*: —

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

EMC vs. CLIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMC Global X Emerging Markets Great Consumer ETF	15.76%	18.91%	3.75%	2.02%
CLIP Global X 1-3 Month T-Bill ETF	1.94%	4.23%	5.26%	2.82%

Correlation

The correlation between EMC and CLIP is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	-0.04

The correlation between EMC and CLIP shifts across timeframes, from -0.17 (1 year) to -0.03 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

EMC vs. CLIP — Risk / Return Rank

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

EMC

EMC Risk / Return Rank: 34
EMC Sharpe Ratio Rank: 30
EMC Sortino Ratio Rank: 29
EMC Omega Ratio Rank: 32
EMC Calmar Ratio Rank: 37
EMC Martin Ratio Rank: 40

CLIP

CLIP Risk / Return Rank: 100
CLIP Sharpe Ratio Rank: 100
CLIP Sortino Ratio Rank: 100
CLIP Omega Ratio Rank: 100
CLIP Calmar Ratio Rank: 100
CLIP Martin Ratio Rank: 100

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.

EMC vs. CLIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Great Consumer ETF (EMC) and Global X 1-3 Month T-Bill ETF (CLIP). 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.

	EMC	CLIP	Difference
Sharpe ratio: Return per unit of total volatility	0.90	17.89	-16.99
Sortino ratio: Return per unit of downside risk	1.35	95.22	-93.87
Omega ratio: Gain probability vs. loss probability	1.18	29.37	-28.19
Calmar ratio: Return relative to maximum drawdown	1.54	196.07	-194.53
Martin ratio: Return relative to average drawdown	5.08	1,495.40	-1,490.31

EMC vs. CLIP - Sharpe Ratio Comparison

The current EMC Sharpe Ratio is 0.90, which is lower than the CLIP Sharpe Ratio of 17.89. The chart below compares the historical Sharpe Ratios of EMC and CLIP, 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

EMC vs. CLIP - Drawdown Comparison

The maximum EMC drawdown since its inception was -18.38%, which is greater than CLIP's maximum drawdown of -0.08%. Use the drawdown chart below to compare losses from any high point for EMC and CLIP.

Drawdown Indicators

	EMC	CLIP	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-0.08%	-18.30%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-0.02%	-13.87%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-0.08%	-18.30%
Current Drawdown Current decline from peak	-9.17%	0.00%	-9.17%
Average Drawdown Average peak-to-trough decline	-4.14%	-0.00%	-4.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	0.00%	+4.20%

Volatility

EMC vs. CLIP - Volatility Comparison

Global X Emerging Markets Great Consumer ETF (EMC) has a higher volatility of 9.44% compared to Global X 1-3 Month T-Bill ETF (CLIP) at 0.08%. This indicates that EMC's price experiences larger fluctuations and is considered to be riskier than CLIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMC	CLIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.44%	0.08%	+9.36%
Volatility (6M) Calculated over the trailing 6-month period	21.65%	0.15%	+21.50%
Volatility (1Y) Calculated over the trailing 1-year period	23.73%	0.22%	+23.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.51%	0.44%	+19.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	0.44%	+19.07%

EMC vs. CLIP - Expense Ratio Comparison

EMC has a 0.75% expense ratio, which is higher than CLIP's 0.07% expense ratio.

Dividends

EMC vs. CLIP - Dividend Comparison

EMC's dividend yield for the trailing twelve months is around 0.59%, less than CLIP's 3.85% yield.

Position	TTM	2025	2024	2023
CLIP Global X 1-3 Month T-Bill ETF	3.85%	4.14%	5.11%	2.75%
EMC Global X Emerging Markets Great Consumer ETF	0.59%	0.78%	1.13%	0.89%

Frequently Asked Questions

Can I hold both EMC and CLIP in my portfolio?

EMC and CLIP have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMC or CLIP?

EMC has higher volatility (9.44%) compared to CLIP (0.08%). In terms of maximum drawdown, EMC dropped -18.38% vs CLIP's -0.08%.

Which ETF is better, EMC or CLIP?

On 3-year performance, EMC leads with 12.17% vs 4.64% for CLIP. On fees, CLIP is cheaper at 0.07% per year. On volatility, CLIP has been the lower-risk option at 0.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMC or CLIP?

Over the 3-year period, EMC has performed better with a 12.17% return vs 4.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMC or CLIP?

CLIP is cheaper with a 0.07% expense ratio, compared with 0.75% for EMC.

Which ETF pays a higher dividend yield, EMC or CLIP?

CLIP has the higher dividend yield at 3.85%, compared with 0.59% for EMC.

What is the main difference between EMC and CLIP?

EMC is categorized as Emerging Markets Diversified, while CLIP is Ultrashort Bond. Their fees differ too: 0.75% for EMC and 0.07% for CLIP.

Which has better risk-adjusted returns?

CLIP currently has the higher Sharpe Ratio (17.89 vs 0.90), 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.