EMEQ vs. XTL

Last updated Jun 14, 2026

EMEQ (Nomura Focused Emerging Markets Equity ETF) and XTL (SPDR S&P Telecom ETF) are both exchange-traded funds - EMEQ is a Emerging Markets Diversified fund actively managed by Nomura, while XTL is a Communications Equities fund tracking the S&P Telecom Select Industry Index. EMEQ is actively managed, while XTL is passively managed. Over the past year, EMEQ returned 141.42% vs 120.42% for XTL. A 0.52 correlation means they provide meaningful diversification when combined. EMEQ charges 0.86%/yr vs 0.35%/yr for XTL.

Performance

EMEQ vs. XTL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nomura Focused Emerging Markets Equity ETF (EMEQ) and SPDR S&P Telecom ETF (XTL). 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 XTL's 51.28% return.

EMEQ

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

XTL

• 1D: 0.16%
• 1M: 2.24%
• YTD: 51.28%
• 6M: 51.62%
• 1Y: 120.42%
• 3Y*: 46.01%
• 5Y*: 18.76%
• 10Y*: 16.27%

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

EMEQ vs. XTL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	70.13%	69.78%	-0.73%
XTL SPDR S&P Telecom ETF	51.28%	44.95%	13.35%

Correlation

The correlation between EMEQ and XTL is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.52

The correlation between EMEQ and XTL has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.

EMEQ vs. XTL - Sectors Allocation Comparison

Sectors	EMEQ	XTL
Financial Services	6.8%	-
Consumer Cyclical	6.2%	-
Consumer Defensive	3.8%	-
Communication Services	2.4%	35.0%
Healthcare	1.4%	-
Basic Materials	1.3%	-
Energy	1.3%	-
Technology	1.1%	62.7%
Utilities	0.9%	-
Industrials	0.3%	-
Real Estate	-	2.3%

Return for Risk

EMEQ vs. XTL — 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

XTL

XTL Risk / Return Rank: 95
XTL Sharpe Ratio Rank: 96
XTL Sortino Ratio Rank: 94
XTL Omega Ratio Rank: 93
XTL Calmar Ratio Rank: 96
XTL 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. XTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nomura Focused Emerging Markets Equity ETF (EMEQ) and SPDR S&P Telecom ETF (XTL). 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	XTL	Difference
Sharpe ratio: Return per unit of total volatility	3.89	3.88	+0.02
Sortino ratio: Return per unit of downside risk	4.03	4.26	-0.23
Omega ratio: Gain probability vs. loss probability	1.61	1.56	+0.04
Calmar ratio: Return relative to maximum drawdown	7.71	7.95	-0.24
Martin ratio: Return relative to average drawdown	28.78	33.56	-4.78

EMEQ vs. XTL - Sharpe Ratio Comparison

The current EMEQ Sharpe Ratio is 3.89, which is comparable to the XTL Sharpe Ratio of 3.88. The chart below compares the historical Sharpe Ratios of EMEQ and XTL, 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. XTL - Drawdown Comparison

The maximum EMEQ drawdown since its inception was -19.99%, smaller than the maximum XTL drawdown of -37.01%. Use the drawdown chart below to compare losses from any high point for EMEQ and XTL.

Drawdown Indicators

	EMEQ	XTL	Difference
Max Drawdown Largest peak-to-trough decline	-19.99%	-37.01%	+17.02%
Max Drawdown (1Y) Largest decline over 1 year	-17.91%	-14.70%	-3.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-22.79%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.01%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.01%	—
Current Drawdown Current decline from peak	-5.69%	-6.72%	+1.03%
Average Drawdown Average peak-to-trough decline	-4.05%	-9.76%	+5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	3.48%	+1.31%

Volatility

EMEQ vs. XTL - Volatility Comparison

Nomura Focused Emerging Markets Equity ETF (EMEQ) has a higher volatility of 19.34% compared to SPDR S&P Telecom ETF (XTL) at 11.43%. This indicates that EMEQ's price experiences larger fluctuations and is considered to be riskier than XTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMEQ	XTL	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.34%	11.43%	+7.91%
Volatility (6M) Calculated over the trailing 6-month period	32.54%	24.28%	+8.26%
Volatility (1Y) Calculated over the trailing 1-year period	35.48%	30.13%	+5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.87%	25.34%	+6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.87%	23.66%	+8.21%

EMEQ vs. XTL - Expense Ratio Comparison

EMEQ has a 0.86% expense ratio, which is higher than XTL's 0.35% expense ratio.

Dividends

EMEQ vs. XTL - Dividend Comparison

EMEQ's dividend yield for the trailing twelve months is around 1.62%, more than XTL's 0.86% 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%
XTL SPDR S&P Telecom ETF	0.86%	1.05%	0.62%	0.80%	0.74%	1.25%	0.88%	0.92%	1.90%	2.08%	1.11%	1.38%

Frequently Asked Questions

Can I hold both EMEQ and XTL in my portfolio?

EMEQ and XTL have a correlation of 0.52, 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 XTL?

EMEQ has higher volatility (19.34%) compared to XTL (11.43%). In terms of maximum drawdown, EMEQ dropped -19.99% vs XTL's -37.01%.

Which ETF is better, EMEQ or XTL?

On 1-year performance, EMEQ leads with 141.42% vs 120.42% for XTL. On fees, XTL is cheaper at 0.35% per year. On volatility, XTL has been the lower-risk option at 11.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMEQ or XTL?

Over the 1-year period, EMEQ has performed better with a 141.42% return vs 120.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMEQ or XTL?

XTL is cheaper with a 0.35% expense ratio, compared with 0.86% for EMEQ.

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

EMEQ has the higher dividend yield at 1.62%, compared with 0.86% for XTL.

What is the main difference between EMEQ and XTL?

EMEQ is categorized as Emerging Markets Diversified, while XTL is Communications Equities. They also come from different issuers: Nomura and State Street. Their fees differ too: 0.86% for EMEQ and 0.35% for XTL.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (3.89 vs 3.88), 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.