EMKT vs. HEEM

Last updated Jun 4, 2026

EMKT (Lazard Emerging Markets Opportunities ETF) and HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) are both Emerging Markets Diversified funds. EMKT is actively managed, while HEEM is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. EMKT charges 0.74%/yr vs 0.72%/yr for HEEM.

Performance

EMKT vs. HEEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Emerging Markets Opportunities ETF (EMKT) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with EMKT having a 30.02% return and HEEM slightly higher at 30.24%.

EMKT

• 1D: -1.45%
• 1M: 11.71%
• YTD: 30.02%
• 6M: 31.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HEEM

• 1D: -0.64%
• 1M: 10.04%
• YTD: 30.24%
• 6M: 32.57%
• 1Y: 63.91%
• 3Y*: 27.05%
• 5Y*: 10.42%
• 10Y*: 11.42%

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

EMKT vs. HEEM - Yearly Performance Comparison

	2026 (YTD)	2025
EMKT Lazard Emerging Markets Opportunities ETF	30.02%	-1.29%
HEEM iShares Currency Hedged MSCI Emerging Markets ETF	30.24%	1.96%

Correlation

The correlation between EMKT and HEEM is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025	0.92

Return for Risk

EMKT vs. HEEM — Risk / Return Rank

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

HEEM

HEEM Risk / Return Rank: 93
HEEM Sharpe Ratio Rank: 94
HEEM Sortino Ratio Rank: 93
HEEM Omega Ratio Rank: 94
HEEM Calmar Ratio Rank: 91
HEEM Martin Ratio Rank: 93

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.

EMKT vs. HEEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Emerging Markets Opportunities ETF (EMKT) and iShares Currency Hedged MSCI Emerging Markets ETF (HEEM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EMKT	HEEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.64	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.33	0.49	+1.83

Drawdowns

EMKT vs. HEEM - Drawdown Comparison

The maximum EMKT drawdown since its inception was -14.21%, smaller than the maximum HEEM drawdown of -33.53%. Use the drawdown chart below to compare losses from any high point for EMKT and HEEM.

Drawdown Indicators

	EMKT	HEEM	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-33.53%	+19.32%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.83%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-30.60%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.53%	—
Current Drawdown Current decline from peak	-1.45%	-0.64%	-0.81%
Average Drawdown Average peak-to-trough decline	-3.04%	-11.14%	+8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.70%	—

Volatility

Volatility by Period

	EMKT	HEEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.57%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.37%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.46%	17.67%	+4.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.46%	17.01%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.46%	17.97%	+4.49%

EMKT vs. HEEM - Expense Ratio Comparison

EMKT has a 0.74% expense ratio, which is higher than HEEM's 0.72% expense ratio.

Dividends

EMKT vs. HEEM - Dividend Comparison

EMKT has not paid dividends to shareholders, while HEEM's dividend yield for the trailing twelve months is around 3.05%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMKT Lazard Emerging Markets Opportunities ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HEEM iShares Currency Hedged MSCI Emerging Markets ETF	3.05%	3.98%	2.38%	2.75%	7.49%	1.93%	1.49%	3.04%	2.37%	2.05%	1.84%	6.28%

Frequently Asked Questions

Can I hold both EMKT and HEEM in my portfolio?

With a correlation of 0.92, EMKT and HEEM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, EMKT or HEEM?

On fees, HEEM is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMKT or HEEM?

HEEM is cheaper with a 0.72% expense ratio, compared with 0.74% for EMKT.

Which ETF pays a higher dividend yield, EMKT or HEEM?

HEEM has the higher dividend yield at 3.05%, compared with 0.00% for EMKT.

What is the main difference between EMKT and HEEM?

They also come from different issuers: Lazard and iShares. Their fees differ too: 0.74% for EMKT and 0.72% for HEEM.