EMEQ vs. MKOR

Last updated Jun 14, 2026

EMEQ (Nomura Focused Emerging Markets Equity ETF) and MKOR (Matthews Korea Active ETF) are both exchange-traded funds - EMEQ is a Emerging Markets Diversified fund actively managed by Nomura, while MKOR is a Asia Pacific Equities fund actively managed by Matthews. Both are actively managed. Over the past year, EMEQ returned 141.42% vs 166.41% for MKOR. Their correlation of 0.81 suggests significant overlap in exposure. EMEQ charges 0.86%/yr vs 0.79%/yr for MKOR.

Performance

EMEQ vs. MKOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Focused Emerging Markets Equity ETF (EMEQ) and Matthews Korea Active ETF (MKOR). 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 lower than MKOR's 94.74% return.

EMEQ

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

MKOR

• 1D: 1.84%
• 1M: 12.24%
• YTD: 94.74%
• 6M: 106.59%
• 1Y: 166.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMEQ vs. MKOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	70.13%	69.78%	-0.73%
MKOR Matthews Korea Active ETF	94.74%	70.33%	-14.50%

Correlation

The correlation between EMEQ and MKOR is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.81

The correlation between EMEQ and MKOR has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.

EMEQ vs. MKOR - Sectors Allocation Comparison

Sectors	EMEQ	MKOR
Financial Services	6.8%	9.6%
Consumer Cyclical	6.2%	7.0%
Consumer Defensive	3.8%	1.7%
Communication Services	2.4%	2.3%
Healthcare	1.4%	1.4%
Basic Materials	1.3%	1.5%
Energy	1.3%	0.7%
Technology	1.1%	51.7%
Utilities	0.9%	0.6%
Industrials	0.3%	15.0%
Real Estate	-	-

Return for Risk

EMEQ vs. MKOR — 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

MKOR

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

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. MKOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Emerging Markets Equity ETF (EMEQ) and Matthews Korea Active ETF (MKOR). 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	MKOR	Difference
Sharpe ratio: Return per unit of total volatility	3.89	4.08	-0.18
Sortino ratio: Return per unit of downside risk	4.03	4.11	-0.08
Omega ratio: Gain probability vs. loss probability	1.61	1.59	+0.01
Calmar ratio: Return relative to maximum drawdown	7.71	7.91	-0.20
Martin ratio: Return relative to average drawdown	28.78	29.09	-0.31

EMEQ vs. MKOR - Sharpe Ratio Comparison

The current EMEQ Sharpe Ratio is 3.89, which is comparable to the MKOR Sharpe Ratio of 4.08. The chart below compares the historical Sharpe Ratios of EMEQ and MKOR, 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. MKOR - Drawdown Comparison

The maximum EMEQ drawdown since its inception was -19.99%, smaller than the maximum MKOR drawdown of -22.09%. Use the drawdown chart below to compare losses from any high point for EMEQ and MKOR.

Drawdown Indicators

	EMEQ	MKOR	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-22.09%	+2.10%
Max Drawdown (1Y) Largest decline over 1 year	-17.91%	-20.62%	+2.71%
Current Drawdown Current decline from peak	-5.69%	-3.32%	-2.37%
Average Drawdown Average peak-to-trough decline	-4.05%	-6.30%	+2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	5.60%	-0.81%

Volatility

EMEQ vs. MKOR - Volatility Comparison

The current volatility for Nomura Focused Emerging Markets Equity ETF (EMEQ) is 19.34%, while Matthews Korea Active ETF (MKOR) has a volatility of 20.42%. This indicates that EMEQ experiences smaller price fluctuations and is considered to be less risky than MKOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMEQ	MKOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.34%	20.42%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	32.54%	36.74%	-4.20%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	40.06%	-4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.87%	28.39%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.87%	28.39%	+3.48%

EMEQ vs. MKOR - Expense Ratio Comparison

EMEQ has a 0.86% expense ratio, which is higher than MKOR's 0.79% expense ratio.

Dividends

EMEQ vs. MKOR - Dividend Comparison

EMEQ's dividend yield for the trailing twelve months is around 1.62%, more than MKOR's 1.35% yield.

Position	TTM	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	1.62%	2.76%	0.84%
MKOR Matthews Korea Active ETF	1.35%	2.62%	5.28%

Frequently Asked Questions

Can I hold both EMEQ and MKOR in my portfolio?

EMEQ and MKOR have a correlation of 0.88, 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 MKOR?

MKOR has higher volatility (20.42%) compared to EMEQ (19.34%). In terms of maximum drawdown, EMEQ dropped -19.99% vs MKOR's -22.09%.

Which ETF is better, EMEQ or MKOR?

On 1-year performance, MKOR leads with 166.41% vs 141.42% for EMEQ. On fees, MKOR is cheaper at 0.79% per year. On volatility, EMEQ has been the lower-risk option at 19.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMEQ or MKOR?

Over the 1-year period, MKOR has performed better with a 166.41% return vs 141.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMEQ or MKOR?

MKOR is cheaper with a 0.79% expense ratio, compared with 0.86% for EMEQ.

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

EMEQ has the higher dividend yield at 1.62%, compared with 1.35% for MKOR.

What is the main difference between EMEQ and MKOR?

EMEQ is categorized as Emerging Markets Diversified, while MKOR is Asia Pacific Equities. They also come from different issuers: Nomura and Matthews. Their fees differ too: 0.86% for EMEQ and 0.79% for MKOR.

Which has better risk-adjusted returns?

MKOR currently has the higher Sharpe Ratio (4.08 vs 3.89), 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.