EMEQ vs. IYZ

Last updated Jun 14, 2026

EMEQ (Nomura Focused Emerging Markets Equity ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - EMEQ is a Emerging Markets Diversified fund actively managed by Nomura, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. EMEQ is actively managed, while IYZ is passively managed. Over the past year, EMEQ returned 141.42% vs 58.27% for IYZ. At a 0.41 correlation, their price movements are largely independent. EMEQ charges 0.86%/yr vs 0.42%/yr for IYZ.

Performance

EMEQ vs. IYZ - Performance Comparison

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

Returns By Period

In the year-to-date period, EMEQ achieves a 70.13% return, which is significantly higher than IYZ's 29.57% return.

EMEQ

• 1D: 0.81%
• 1M: 10.20%
• YTD: 70.13%
• 6M: 81.37%
• 1Y: 141.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IYZ

• 1D: 1.27%
• 1M: 2.31%
• YTD: 29.57%
• 6M: 32.60%
• 1Y: 58.27%
• 3Y*: 28.37%
• 5Y*: 7.57%
• 10Y*: 5.94%

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

EMEQ vs. IYZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	70.13%	69.78%	-0.73%
IYZ iShares U.S. Telecommunications ETF	29.57%	29.28%	15.40%

Correlation

The correlation between EMEQ and IYZ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.41

Return for Risk

EMEQ vs. IYZ — Risk / Return Rank

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

EMEQ

EMEQ Risk / Return Rank: 95
EMEQ Sharpe Ratio Rank: 97
EMEQ Sortino Ratio Rank: 93
EMEQ Omega Ratio Rank: 94
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 95

IYZ

IYZ Risk / Return Rank: 93
IYZ Sharpe Ratio Rank: 94
IYZ Sortino Ratio Rank: 92
IYZ Omega Ratio Rank: 91
IYZ Calmar Ratio Rank: 94
IYZ Martin Ratio Rank: 95

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. IYZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Emerging Markets Equity ETF (EMEQ) and iShares U.S. Telecommunications ETF (IYZ). 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	IYZ	Difference
Sharpe ratio: Return per unit of total volatility	3.89	3.02	+0.87
Sortino ratio: Return per unit of downside risk	4.03	3.95	+0.09
Omega ratio: Gain probability vs. loss probability	1.61	1.52	+0.08
Calmar ratio: Return relative to maximum drawdown	7.71	6.54	+1.18
Martin ratio: Return relative to average drawdown	28.78	25.99	+2.79

EMEQ vs. IYZ - Sharpe Ratio Comparison

The current EMEQ Sharpe Ratio is 3.89, which is comparable to the IYZ Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of EMEQ and IYZ, 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. IYZ - Drawdown Comparison

The maximum EMEQ drawdown since its inception was -19.99%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for EMEQ and IYZ.

Drawdown Indicators

	EMEQ	IYZ	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-77.11%	+57.12%
Max Drawdown (1Y) Largest decline over 1 year	-17.91%	-8.62%	-9.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.85%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-39.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.74%	—
Current Drawdown Current decline from peak	-5.69%	-4.77%	-0.92%
Average Drawdown Average peak-to-trough decline	-4.05%	-40.10%	+36.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	2.17%	+2.62%

Volatility

EMEQ vs. IYZ - Volatility Comparison

Nomura Focused Emerging Markets Equity ETF (EMEQ) has a higher volatility of 19.34% compared to iShares U.S. Telecommunications ETF (IYZ) at 8.76%. This indicates that EMEQ's price experiences larger fluctuations and is considered to be riskier than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMEQ	IYZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.34%	8.76%	+10.58%
Volatility (6M) Calculated over the trailing 6-month period	32.54%	15.61%	+16.93%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	18.65%	+16.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.87%	18.88%	+12.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.87%	19.30%	+12.57%

EMEQ vs. IYZ - Expense Ratio Comparison

EMEQ has a 0.86% expense ratio, which is higher than IYZ's 0.42% expense ratio.

Dividends

EMEQ vs. IYZ - Dividend Comparison

EMEQ's dividend yield for the trailing twelve months is around 1.62%, more than IYZ's 1.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMEQ Nomura Focused Emerging Markets Equity ETF	1.62%	2.76%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IYZ iShares U.S. Telecommunications ETF	1.53%	2.04%	1.94%	2.27%	2.55%	2.51%	2.60%	2.36%	2.15%	3.54%	2.27%	1.98%

Frequently Asked Questions

Can I hold both EMEQ and IYZ in my portfolio?

EMEQ and IYZ have a correlation of 0.42, 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 IYZ?

EMEQ has higher volatility (19.34%) compared to IYZ (8.76%). In terms of maximum drawdown, EMEQ dropped -19.99% vs IYZ's -77.11%.

Which ETF is better, EMEQ or IYZ?

On 1-year performance, EMEQ leads with 141.42% vs 58.27% for IYZ. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYZ has been the lower-risk option at 8.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMEQ or IYZ?

Over the 1-year period, EMEQ has performed better with a 141.42% return vs 58.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMEQ or IYZ?

IYZ is cheaper with a 0.42% expense ratio, compared with 0.86% for EMEQ.

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

EMEQ has the higher dividend yield at 1.62%, compared with 1.53% for IYZ.

What is the main difference between EMEQ and IYZ?

EMEQ is categorized as Emerging Markets Diversified, while IYZ is Communications Equities. They also come from different issuers: Nomura and iShares. Their fees differ too: 0.86% for EMEQ and 0.42% for IYZ.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (3.89 vs 3.02), 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.