EMC vs. SPY

Last updated Aug 2, 2026

EMC (Global X Emerging Markets Great Consumer ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - EMC is a Emerging Markets Equities fund actively managed by Global X, while SPY is a S&P 500 fund tracking the S&P 500 Index. EMC is actively managed, while SPY is passively managed. Over the past 3 years, EMC returned 11.91%/yr vs 19.32%/yr for SPY. Their 0.69 correlation means they have sometimes moved together and sometimes differently. EMC charges 0.75%/yr vs 0.09%/yr for SPY.

Performance

EMC vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Emerging Markets Great Consumer ETF (EMC) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMC achieves a 15.64% return, which is significantly higher than SPY's 10.13% return.

EMC

• 1D: 0.59%
• 1M: -2.57%
• 6M: 7.83%
• YTD: 15.64%
• 1Y: 24.09%
• 3Y*: 11.91%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.26%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMC Global X Emerging Markets Great Consumer ETF	$249.07K	$184.10K	$220.02K
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

EMC vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMC Global X Emerging Markets Great Consumer ETF	15.64%	18.91%	3.75%	1.62%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	16.79%

Correlation

The correlation between EMC and SPY is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (All Time) Calculated using the full available price history since May 15, 2023	0.69

The correlation between EMC and SPY has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

EMC vs. SPY - Sectors Allocation Comparison

Sectors	EMC	SPY
Technology	44.9%	36.9%
Financial Services	21.4%	12.5%
Consumer Cyclical	8.8%	8.9%
Communication Services	7.4%	9.7%
Industrials	6.1%	7.6%
Basic Materials	3.1%	1.9%
Energy	3.0%	3.4%
Consumer Defensive	2.0%	4.8%
Healthcare	2.0%	9.4%
Real Estate	1.4%	2.0%
Utilities	-	2.6%

Return for Risk

EMC vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EMC

EMC Risk / Return Rank: 41
EMC Sharpe Ratio Rank: 37
EMC Sortino Ratio Rank: 37
EMC Omega Ratio Rank: 39
EMC Calmar Ratio Rank: 46
EMC Martin Ratio Rank: 44

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMC vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Great Consumer ETF (EMC) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	0.94	1.52	-0.58
Sortino ratio: Return per unit of downside risk	1.41	2.11	-0.70
Omega ratio: Gain probability vs. loss probability	1.18	1.27	-0.09
Calmar ratio: Return relative to maximum drawdown	1.66	2.20	-0.55
Martin ratio: Return relative to average drawdown	4.90	9.40	-4.50

EMC vs. SPY - Sharpe Ratio Comparison

The current EMC Sharpe Ratio is 0.94, which is lower than the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of EMC and SPY, 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. SPY - Drawdown Comparison

The maximum EMC drawdown since its inception was -18.38%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for EMC and SPY.

Drawdown Indicators

	EMC	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-55.19%	+36.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-8.88%	-5.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-18.76%	+0.38%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-9.27%	-1.40%	-7.87%
Average Drawdown Average peak-to-trough decline	-4.23%	-9.01%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	2.08%	+2.60%

Volatility

EMC vs. SPY - Volatility Comparison

Global X Emerging Markets Great Consumer ETF (EMC) has a higher volatility of 9.23% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that EMC's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMC	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.23%	3.58%	+5.65%
Volatility (6M) Calculated over the trailing 6-month period	22.26%	10.14%	+12.12%
Volatility (1Y) Calculated over the trailing 1-year period	24.53%	12.89%	+11.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	17.18%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	17.95%	+1.78%

EMC vs. SPY - Expense Ratio Comparison

EMC has a 0.75% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

EMC vs. SPY - Dividend Comparison

EMC's dividend yield for the trailing twelve months is around 0.59%, less than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMC Global X Emerging Markets Great Consumer ETF	0.59%	0.78%	1.13%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both EMC and SPY in my portfolio?

EMC and SPY have a correlation of 0.77, 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 SPY?

EMC has higher volatility (9.23%) compared to SPY (3.58%). In terms of maximum drawdown, EMC dropped -18.38% vs SPY's -55.19%.

Which ETF is better, EMC or SPY?

On 3-year performance, SPY leads with 19.32% vs 11.91% for EMC. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMC or SPY?

Over the 3-year period, SPY has performed better with a 19.32% return vs 11.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMC or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.75% for EMC.

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

SPY has the higher dividend yield at 1.01%, compared with 0.59% for EMC.

What is the main difference between EMC and SPY?

EMC is categorized as Emerging Markets Equities, while SPY is S&P 500. They also come from different issuers: Global X and State Street. Their fees differ too: 0.75% for EMC and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (1.52 vs 0.94), 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.