EMET vs. XES
EMET (VanEck Copper and Green Metals ETF) and XES (SPDR S&P Oil & Gas Equipment & Services ETF) are both exchange-traded funds - EMET is a Commodity Producers Equities fund tracking the MVIS Global Clean-Tech Metals Index, while XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index. Both are passively managed. Over the past 3 years, EMET returned 21.61%/yr vs 19.81%/yr for XES. At a 0.47 correlation, their price movements are largely independent. EMET charges 0.61%/yr vs 0.35%/yr for XES.
Performance
EMET vs. XES - Performance Comparison
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Returns By Period
In the year-to-date period, EMET achieves a 24.96% return, which is significantly lower than XES's 50.69% return.
EMET
- 1D
- -3.09%
- 1M
- 10.55%
- YTD
- 24.96%
- 6M
- 36.66%
- 1Y
- 116.88%
- 3Y*
- 21.61%
- 5Y*
- —
- 10Y*
- —
XES
- 1D
- -0.56%
- 1M
- -4.59%
- YTD
- 50.69%
- 6M
- 43.67%
- 1Y
- 97.14%
- 3Y*
- 19.81%
- 5Y*
- 13.75%
- 10Y*
- -2.47%
EMET vs. XES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMET VanEck Copper and Green Metals ETF | 24.96% | 81.22% | -12.81% | -12.28% | -17.15% | -0.14% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 50.69% | 5.89% | -5.44% | 6.68% | 62.03% | -13.34% |
Correlation
The correlation between EMET and XES is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Nov 12, 2021 | 0.47 |
Over the past year, the correlation between EMET and XES has dropped to 0.25 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
EMET vs. XES — Risk / Return Rank
EMET
XES
EMET vs. XES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Copper and Green Metals ETF (EMET) and SPDR S&P Oil & Gas Equipment & Services ETF (XES). 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.
| EMET | XES | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.27 | 3.23 | +0.04 |
Sortino ratioReturn per unit of downside risk | 3.49 | 3.86 | -0.36 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.48 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 4.60 | 9.93 | -5.34 |
Martin ratioReturn relative to average drawdown | 15.70 | 26.79 | -11.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMET | XES | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.27 | 3.23 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.35 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.25 | -0.07 | +0.32 |
Drawdowns
EMET vs. XES - Drawdown Comparison
The maximum EMET drawdown since its inception was -53.05%, smaller than the maximum XES drawdown of -95.65%. Use the drawdown chart below to compare losses from any high point for EMET and XES.
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Drawdown Indicators
| EMET | XES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.05% | -95.65% | +42.60% |
Max Drawdown (1Y)Largest decline over 1 year | -25.58% | -9.84% | -15.74% |
Max Drawdown (3Y)Largest decline over 3 years | -40.50% | -45.95% | +5.45% |
Max Drawdown (5Y)Largest decline over 5 years | — | -45.95% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -91.23% | — |
Current DrawdownCurrent decline from peak | -5.29% | -70.90% | +65.61% |
Average DrawdownAverage peak-to-trough decline | -24.83% | -54.36% | +29.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.47% | 3.64% | +3.83% |
Volatility
EMET vs. XES - Volatility Comparison
VanEck Copper and Green Metals ETF (EMET) has a higher volatility of 12.59% compared to SPDR S&P Oil & Gas Equipment & Services ETF (XES) at 8.22%. This indicates that EMET's price experiences larger fluctuations and is considered to be riskier than XES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMET | XES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.59% | 8.22% | +4.37% |
Volatility (6M)Calculated over the trailing 6-month period | 30.81% | 20.52% | +10.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.96% | 30.50% | +5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.96% | 39.04% | -6.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.96% | 45.04% | -12.08% |
EMET vs. XES - Expense Ratio Comparison
EMET has a 0.61% expense ratio, which is higher than XES's 0.35% expense ratio.
Dividends
EMET vs. XES - Dividend Comparison
EMET's dividend yield for the trailing twelve months is around 1.47%, more than XES's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMET VanEck Copper and Green Metals ETF | 1.47% | 1.84% | 1.89% | 2.02% | 2.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 1.12% | 1.69% | 1.31% | 0.66% | 0.36% | 1.81% | 1.33% | 1.43% | 1.14% | 1.68% | 0.64% | 2.47% |
Frequently Asked Questions
EMET and XES have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMET has higher volatility (12.59%) compared to XES (8.22%). In terms of maximum drawdown, EMET dropped -53.05% vs XES's -95.65%.
On 3-year performance, EMET leads with 21.61% vs 19.81% for XES. On fees, XES is cheaper at 0.35% per year. On volatility, XES has been the lower-risk option at 8.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMET has performed better with a 21.61% return vs 19.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XES is cheaper with a 0.35% expense ratio, compared with 0.61% for EMET.
EMET has the higher dividend yield at 1.47%, compared with 1.12% for XES.
EMET is categorized as Commodity Producers Equities, while XES is Energy Equities. EMET tracks MVIS Global Clean-Tech Metals Index, while XES tracks S&P Oil & Gas Equipment & Services Select Industry Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.61% for EMET and 0.35% for XES.
EMET currently has the higher Sharpe Ratio (3.27 vs 3.23), 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.
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