EMEQ vs. SHLD

Last updated Jun 3, 2026

EMEQ (Nomura Focused Emerging Markets Equity ETF) and SHLD (Global X Defense Tech ETF) are both exchange-traded funds - EMEQ is a Emerging Markets Diversified fund actively managed by Nomura, while SHLD is a Aerospace & Defense fund tracking the Global X Defense Tech Index. EMEQ is actively managed, while SHLD is passively managed. Over the past year, EMEQ returned 170.96% vs 13.67% for SHLD. At a 0.32 correlation, their price movements are largely independent. EMEQ charges 0.86%/yr vs 0.50%/yr for SHLD.

Performance

EMEQ vs. SHLD - Performance Comparison

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

Returns By Period

In the year-to-date period, EMEQ achieves a 80.39% return, which is significantly higher than SHLD's 0.11% return.

EMEQ

• 1D: 2.38%
• 1M: 28.19%
• YTD: 80.39%
• 6M: 91.18%
• 1Y: 170.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHLD

• 1D: -1.16%
• 1M: -4.51%
• YTD: 0.11%
• 6M: 6.04%
• 1Y: 13.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMEQ vs. SHLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	80.39%	69.78%	-1.16%
SHLD Global X Defense Tech ETF	0.11%	74.16%	3.61%

Correlation

The correlation between EMEQ and SHLD is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (All Time) Calculated using the full available price history since Sep 6, 2024	0.32

EMEQ vs. SHLD - Sectors Allocation Comparison

Sectors	EMEQ	SHLD
Technology	56.6%	11.8%
Financial Services	11.1%	-
Consumer Cyclical	8.2%	-
Energy	7.0%	-
Industrials	5.8%	88.2%
Communication Services	5.7%	-
Consumer Defensive	2.9%	-
Basic Materials	1.8%	-
Healthcare	1.0%	-
Real Estate	-	-
Utilities	-	-

Return for Risk

EMEQ vs. SHLD — Risk / Return Rank

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

EMEQ

EMEQ Risk / Return Rank: 96
EMEQ Sharpe Ratio Rank: 98
EMEQ Sortino Ratio Rank: 95
EMEQ Omega Ratio Rank: 96
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 96

SHLD

SHLD Risk / Return Rank: 18
SHLD Sharpe Ratio Rank: 18
SHLD Sortino Ratio Rank: 19
SHLD Omega Ratio Rank: 18
SHLD Calmar Ratio Rank: 18
SHLD Martin Ratio Rank: 17

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. SHLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Emerging Markets Equity ETF (EMEQ) and Global X Defense Tech ETF (SHLD). 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.

	EMEQ	SHLD	Difference
Sharpe ratio Return per unit of total volatility	5.37	0.57	+4.79
Sortino ratio Return per unit of downside risk	5.35	0.97	+4.38
Omega ratio Gain probability vs. loss probability	1.77	1.11	+0.66
Calmar ratio Return relative to maximum drawdown	9.68	0.71	+8.97
Martin ratio Return relative to average drawdown	38.83	1.93	+36.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMEQ vs. SHLD - Sharpe Ratio Comparison

The current EMEQ Sharpe Ratio is 5.37, which is higher than the SHLD Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of EMEQ and SHLD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMEQ	SHLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.37	0.57	+4.79
Sharpe Ratio (All Time) Calculated using the full available price history	3.00	2.07	+0.94

Drawdowns

EMEQ vs. SHLD - Drawdown Comparison

The maximum EMEQ drawdown since its inception was -19.99%, roughly equal to the maximum SHLD drawdown of -20.10%. Use the drawdown chart below to compare losses from any high point for EMEQ and SHLD.

Drawdown Indicators

	EMEQ	SHLD	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-20.10%	+0.11%
Max Drawdown (1Y) Largest decline over 1 year	-17.91%	-20.10%	+2.19%
Current Drawdown Current decline from peak	0.00%	-16.87%	+16.87%
Average Drawdown Average peak-to-trough decline	-3.97%	-3.17%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.47%	7.42%	-2.95%

Volatility

EMEQ vs. SHLD - Volatility Comparison

Nomura Focused Emerging Markets Equity ETF (EMEQ) has a higher volatility of 15.03% compared to Global X Defense Tech ETF (SHLD) at 7.51%. This indicates that EMEQ's price experiences larger fluctuations and is considered to be riskier than SHLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMEQ	SHLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.03%	7.51%	+7.52%
Volatility (6M) Calculated over the trailing 6-month period	28.45%	19.39%	+9.06%
Volatility (1Y) Calculated over the trailing 1-year period	32.05%	23.94%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.98%	21.09%	+8.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.98%	21.09%	+8.89%

EMEQ vs. SHLD - Expense Ratio Comparison

EMEQ has a 0.86% expense ratio, which is higher than SHLD's 0.50% expense ratio.

Dividends

EMEQ vs. SHLD - Dividend Comparison

EMEQ's dividend yield for the trailing twelve months is around 1.53%, more than SHLD's 0.55% yield.

Position	TTM	2025	2024	2023
EMEQ Nomura Focused Emerging Markets Equity ETF	1.53%	2.76%	0.84%	0.00%
SHLD Global X Defense Tech ETF	0.55%	0.55%	0.53%	0.26%

Frequently Asked Questions

Can I hold both EMEQ and SHLD in my portfolio?

EMEQ and SHLD have a correlation of 0.33, 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 SHLD?

EMEQ has higher volatility (15.03%) compared to SHLD (7.51%). In terms of maximum drawdown, EMEQ dropped -19.99% vs SHLD's -20.10%.

Which ETF is better, EMEQ or SHLD?

On 1-year performance, EMEQ leads with 170.96% vs 13.67% for SHLD. On fees, SHLD is cheaper at 0.50% per year. On volatility, SHLD has been the lower-risk option at 7.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMEQ or SHLD?

Over the 1-year period, EMEQ has performed better with a 170.96% return vs 13.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMEQ or SHLD?

SHLD is cheaper with a 0.50% expense ratio, compared with 0.86% for EMEQ.

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

EMEQ has the higher dividend yield at 1.53%, compared with 0.55% for SHLD.

What is the main difference between EMEQ and SHLD?

EMEQ is categorized as Emerging Markets Diversified, while SHLD is Aerospace & Defense. They also come from different issuers: Nomura and Global X. Their fees differ too: 0.86% for EMEQ and 0.50% for SHLD.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (5.37 vs 0.57), 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.