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EMIF vs. QAT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMIF vs. QAT

Last updated Aug 2, 2026
Documentation

EMIF (iShares Emerging Markets Infrastructure ETF) and QAT (iShares MSCI Qatar ETF) are both exchange-traded funds - EMIF is a Infrastructure Equities fund tracking the S&P Emerging Markets Infrastructure Index, while QAT is a Emerging Markets Equities fund tracking the MSCI All Qatar Capped Index. Both are passively managed. Over the past 10 years, EMIF returned 1.66%/yr vs 2.88%/yr for QAT. Their 0.28 correlation means their historical movements had little consistent relationship. EMIF charges 0.75%/yr vs 0.59%/yr for QAT.

Performance

EMIF vs. QAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Emerging Markets Infrastructure ETF (EMIF) and iShares MSCI Qatar ETF (QAT). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMIF achieves a 0.44% return, which is significantly higher than QAT's -4.44% return. Over the past 10 years, EMIF has underperformed QAT with an annualized return of 1.66%, while QAT has yielded a comparatively higher 2.88% annualized return.

EMIF

1D
-0.46%
1M
0.38%
6M
-7.11%
YTD
0.44%
1Y
16.15%
3Y*
10.24%
5Y*
5.68%
10Y*
1.66%
ALL TIME*
3.28%

QAT

1D
-0.46%
1M
-3.26%
6M
-8.76%
YTD
-4.44%
1Y
-7.45%
3Y*
1.12%
5Y*
2.65%
10Y*
2.88%
ALL TIME*
0.92%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EMIF

iShares Emerging Markets Infrastructure ETF
$49.09K$40.45K$71.84K

QAT

iShares MSCI Qatar ETF
$941.21K$596.55K$1.10M

EMIF vs. QAT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMIF
iShares Emerging Markets Infrastructure ETF		0.44%33.90%1.21%5.67%-12.59%3.76%-19.98%16.36%-13.70%20.70%
QAT
iShares MSCI Qatar ETF		-4.44%8.81%5.20%2.72%-7.23%14.42%6.94%-0.44%20.03%-11.66%

Correlation

The correlation between EMIF and QAT is 0.30, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.30

Correlation (3Y)
Balances recent behavior with more history.

0.28

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.26

Correlation (10Y)
Provides a long-term view across more market conditions.

0.27

Correlation (All Time)
Calculated using the full available price history since May 1, 2014

0.28

EMIF vs. QAT - Sectors Allocation Comparison

Sectors
EMIF
QAT

Industrials

44.6%
8.6%

Utilities

37.1%
2.5%

Energy

18.3%
7.7%

Basic Materials

-

11.9%

Communication Services

-

6.4%

Consumer Cyclical

-

0.8%

Consumer Defensive

-

0.7%

Financial Services

-

55.7%

Healthcare

-

0.8%

Real Estate

-

3.9%

Technology

-

1.0%

Industrials

EMIF
44.6%
QAT
8.6%

Utilities

EMIF
37.1%
QAT
2.5%

Energy

EMIF
18.3%
QAT
7.7%

Basic Materials

EMIF

-

QAT
11.9%

Communication Services

EMIF

-

QAT
6.4%

Consumer Cyclical

EMIF

-

QAT
0.8%

Consumer Defensive

EMIF

-

QAT
0.7%

Financial Services

EMIF

-

QAT
55.7%

Healthcare

EMIF

-

QAT
0.8%

Real Estate

EMIF

-

QAT
3.9%

Technology

EMIF

-

QAT
1.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Emerging Markets Infrastructure ETF

iShares MSCI Qatar ETF

Often compared with EMIF:
EMIF vs. SPYEMIF vs. IVVEMIF vs. IYKEMIF vs. BNEMIF vs. VDCEMIF vs. JXIEMIF vs. PAVE
Often compared with QAT:
QAT vs. UAEQAT vs. KSAQAT vs. ENORQAT vs. SJMQAT vs. EDENQAT vs. EIRLQAT vs. VOO

Return for Risk

EMIF vs. QAT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
EMIF
EMIF Risk / Return Rank: 3535
Overall Rank
EMIF Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
EMIF Sortino Ratio Rank: 3939
Sortino Ratio Rank
EMIF Omega Ratio Rank: 3838
Omega Ratio Rank
EMIF Calmar Ratio Rank: 3030
Calmar Ratio Rank
EMIF Martin Ratio Rank: 2727
Martin Ratio Rank
QAT
QAT Risk / Return Rank: 44
Overall Rank
QAT Sharpe Ratio Rank: 55
Sharpe Ratio Rank
QAT Sortino Ratio Rank: 44
Sortino Ratio Rank
QAT Omega Ratio Rank: 44
Omega Ratio Rank
QAT Calmar Ratio Rank: 44
Calmar Ratio Rank
QAT Martin Ratio Rank: 44
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMIF vs. QAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Emerging Markets Infrastructure ETF (EMIF) and iShares MSCI Qatar ETF (QAT). 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.

EMIFQATDifference
Sharpe ratioReturn per unit of total volatility
0.97
-0.56

+1.53

Sortino ratioReturn per unit of downside risk
1.45
-0.73

+2.18

Omega ratioGain probability vs. loss probability

1.18

0.91

+0.27

Calmar ratioReturn relative to maximum drawdown

1.00

-0.65

+1.64

Martin ratioReturn relative to average drawdown

2.23

-1.14

+3.37

EMIF vs. QAT - Sharpe Ratio Comparison

The current EMIF Sharpe Ratio is 0.97, which is higher than the QAT Sharpe Ratio of -0.56. The chart below compares the historical Sharpe Ratios of EMIF and QAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

EMIF vs. QAT - Drawdown Comparison

The maximum EMIF drawdown since its inception was -48.02%, which is greater than QAT's maximum drawdown of -45.21%. Use the drawdown chart below to compare losses from any high point for EMIF and QAT.

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Drawdown Indicators

EMIFQATDifference

Max Drawdown

Largest peak-to-trough decline

-48.02%

-45.21%

-2.81%

Max Drawdown (1Y)

Largest decline over 1 year

-15.71%

-11.48%

-4.23%

Max Drawdown (3Y)

Largest decline over 3 years

-16.70%

-15.47%

-1.23%

Max Drawdown (5Y)

Largest decline over 5 years

-23.29%

-33.17%

+9.88%

Max Drawdown (10Y)

Largest decline over 10 years

-48.02%

-34.04%

-13.98%

Current Drawdown

Current decline from peak

-13.57%

-16.32%

+2.75%

Average Drawdown

Average peak-to-trough decline

-15.89%

-19.10%

+3.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.00%

6.53%

+0.47%

Volatility

EMIF vs. QAT - Volatility Comparison

iShares Emerging Markets Infrastructure ETF (EMIF) has a higher volatility of 4.41% compared to iShares MSCI Qatar ETF (QAT) at 3.27%. This indicates that EMIF's price experiences larger fluctuations and is considered to be riskier than QAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMIFQATDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.41%

3.27%

+1.14%

Volatility (6M)

Calculated over the trailing 6-month period

13.24%

10.99%

+2.25%

Volatility (1Y)

Calculated over the trailing 1-year period

16.21%

13.33%

+2.88%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.67%

15.08%

+4.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.54%

17.49%

+3.05%

EMIF vs. QAT - Expense Ratio Comparison

EMIF has a 0.75% expense ratio, which is higher than QAT's 0.59% expense ratio.

Dividends

EMIF vs. QAT - Dividend Comparison

EMIF's dividend yield for the trailing twelve months is around 4.21%, less than QAT's 4.89% yield.

PositionTTM20252024202320222021202020192018201720162015
EMIF
iShares Emerging Markets Infrastructure ETF		4.21%4.96%4.12%2.64%3.08%3.94%2.54%2.07%2.64%2.58%3.16%2.07%
QAT
iShares MSCI Qatar ETF		4.89%3.51%5.90%3.92%4.78%2.33%2.63%3.57%4.63%4.10%3.51%4.49%

Frequently Asked Questions

EMIF and QAT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMIF has higher volatility (4.41%) compared to QAT (3.27%). In terms of maximum drawdown, EMIF dropped -48.02% vs QAT's -45.21%.

On 10-year performance, QAT leads with 2.88% vs 1.66% for EMIF. On fees, QAT is cheaper at 0.59% per year. On volatility, QAT has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QAT has performed better with a 2.88% return vs 1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QAT is cheaper with a 0.59% expense ratio, compared with 0.75% for EMIF.

QAT has the higher dividend yield at 4.89%, compared with 4.21% for EMIF.

EMIF is categorized as Infrastructure Equities, while QAT is Emerging Markets Equities. EMIF tracks S&P Emerging Markets Infrastructure Index, while QAT tracks MSCI All Qatar Capped Index. Their fees differ too: 0.75% for EMIF and 0.59% for QAT.

EMIF currently has the higher Sharpe Ratio (0.97 vs -0.56), 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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