EMEQ vs. CTEF

Last updated Jul 21, 2026

EMEQ (Nomura Focused Emerging Markets Equity ETF) and CTEF (Castellan Targeted Equity ETF) are both exchange-traded funds - EMEQ is a Emerging Markets Diversified fund actively managed by Nomura, while CTEF is a Mid Cap Blend Equities fund actively managed by Castellan. Both are actively managed. Over the past year, EMEQ returned 109.85% vs 64.32% for CTEF. A 0.67 correlation means they provide meaningful diversification when combined. EMEQ charges 0.86%/yr vs 0.45%/yr for CTEF.

Performance

EMEQ vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Focused Emerging Markets Equity ETF (EMEQ) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMEQ achieves a 56.90% return, which is significantly higher than CTEF's 33.21% return.

EMEQ

• 1D: 0.73%
• 1M: -16.40%
• 6M: 43.37%
• YTD: 56.90%
• 1Y: 109.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 68.21%

CTEF

• 1D: 0.33%
• 1M: -4.17%
• 6M: 28.28%
• YTD: 33.21%
• 1Y: 64.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 69.37%

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

EMEQ vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
EMEQ Nomura Focused Emerging Markets Equity ETF	56.90%	40.70%
CTEF Castellan Targeted Equity ETF	33.21%	33.10%

Correlation

The correlation between EMEQ and CTEF is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.67

The correlation between EMEQ and CTEF has been stable across timeframes, ranging from 0.67 to 0.68 - a consistent structural relationship.

Return for Risk

EMEQ vs. CTEF — Risk / Return Rank

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

EMEQ

EMEQ Risk / Return Rank: 92
EMEQ Sharpe Ratio Rank: 95
EMEQ Sortino Ratio Rank: 87
EMEQ Omega Ratio Rank: 91
EMEQ Calmar Ratio Rank: 95
EMEQ Martin Ratio Rank: 94

CTEF

CTEF Risk / Return Rank: 93
CTEF Sharpe Ratio Rank: 95
CTEF Sortino Ratio Rank: 93
CTEF Omega Ratio Rank: 91
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

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.

EMEQ vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Emerging Markets Equity ETF (EMEQ) and Castellan Targeted Equity ETF (CTEF). 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.

	EMEQ	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	2.82	2.79	+0.03
Sortino ratio: Return per unit of downside risk	3.09	3.63	-0.55
Omega ratio: Gain probability vs. loss probability	1.45	1.45	+0.01
Calmar ratio: Return relative to maximum drawdown	5.57	4.31	+1.26
Martin ratio: Return relative to average drawdown	18.27	19.08	-0.81

EMEQ vs. CTEF - Sharpe Ratio Comparison

The current EMEQ Sharpe Ratio is 2.82, which is comparable to the CTEF Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of EMEQ and CTEF, 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

EMEQ vs. CTEF - Drawdown Comparison

The maximum EMEQ drawdown since its inception was -19.99%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for EMEQ and CTEF.

Drawdown Indicators

	EMEQ	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-15.00%	-4.99%
Max Drawdown (1Y) Largest decline over 1 year	-19.83%	-15.00%	-4.83%
Current Drawdown Current decline from peak	-19.24%	-5.75%	-13.49%
Average Drawdown Average peak-to-trough decline	-4.37%	-1.85%	-2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.04%	3.38%	+2.66%

Volatility

EMEQ vs. CTEF - Volatility Comparison

Nomura Focused Emerging Markets Equity ETF (EMEQ) has a higher volatility of 17.23% compared to Castellan Targeted Equity ETF (CTEF) at 6.70%. This indicates that EMEQ's price experiences larger fluctuations and is considered to be riskier than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMEQ	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.23%	6.70%	+10.53%
Volatility (6M) Calculated over the trailing 6-month period	36.59%	19.32%	+17.27%
Volatility (1Y) Calculated over the trailing 1-year period	39.26%	23.21%	+16.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.67%	22.50%	+11.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.67%	22.50%	+11.17%

EMEQ vs. CTEF - Expense Ratio Comparison

EMEQ has a 0.86% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

EMEQ vs. CTEF - Dividend Comparison

EMEQ's dividend yield for the trailing twelve months is around 1.76%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%
EMEQ Nomura Focused Emerging Markets Equity ETF	1.76%	2.76%	0.84%

Frequently Asked Questions

Can I hold both EMEQ and CTEF in my portfolio?

EMEQ and CTEF have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMEQ or CTEF?

EMEQ has higher volatility (17.23%) compared to CTEF (6.70%). In terms of maximum drawdown, EMEQ dropped -19.99% vs CTEF's -15.00%.

Which ETF is better, EMEQ or CTEF?

On 1-year performance, EMEQ leads with 109.85% vs 64.32% for CTEF. On fees, CTEF is cheaper at 0.45% per year. On volatility, CTEF has been the lower-risk option at 6.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMEQ or CTEF?

Over the 1-year period, EMEQ has performed better with a 109.85% return vs 64.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMEQ or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.86% for EMEQ.

Which ETF pays a higher dividend yield, EMEQ or CTEF?

EMEQ has the higher dividend yield at 1.76%, compared with 0.06% for CTEF.

What is the main difference between EMEQ and CTEF?

EMEQ is categorized as Emerging Markets Diversified, while CTEF is Mid Cap Blend Equities. They also come from different issuers: Nomura and Castellan. Their fees differ too: 0.86% for EMEQ and 0.45% for CTEF.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (2.82 vs 2.79), 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.