EMKT vs. IEO
EMKT (Lazard Emerging Markets Opportunities ETF) and IEO (iShares U.S. Oil & Gas Exploration & Production ETF) are both exchange-traded funds - EMKT is a Emerging Markets Diversified fund actively managed by Lazard, while IEO is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Exploration & Production Index. EMKT is actively managed, while IEO is passively managed. At a correlation of -0.21, they often move in opposite directions. EMKT charges 0.74%/yr vs 0.42%/yr for IEO.
Performance
EMKT vs. IEO - Performance Comparison
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Returns By Period
In the year-to-date period, EMKT achieves a 25.98% return, which is significantly higher than IEO's 22.83% return.
EMKT
- 1D
- 0.48%
- 1M
- 3.85%
- YTD
- 25.98%
- 6M
- 26.41%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEO
- 1D
- -1.28%
- 1M
- -8.41%
- YTD
- 22.83%
- 6M
- 23.60%
- 1Y
- 23.92%
- 3Y*
- 13.07%
- 5Y*
- 16.51%
- 10Y*
- 9.55%
EMKT vs. IEO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EMKT Lazard Emerging Markets Opportunities ETF | 25.98% | -1.26% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 22.83% | 0.01% |
Correlation
The correlation between EMKT and IEO is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 27, 2025 | -0.21 |
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Return for Risk
EMKT vs. IEO — Risk / Return Rank
EMKT
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IEO
EMKT vs. IEO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lazard Emerging Markets Opportunities ETF (EMKT) and iShares U.S. Oil & Gas Exploration & Production ETF (IEO). 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.
| EMKT | IEO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.17 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.47 | — |
| Martin ratioReturn relative to average drawdown | — | 4.03 | — |
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Drawdowns
EMKT vs. IEO - Drawdown Comparison
The maximum EMKT drawdown since its inception was -14.21%, smaller than the maximum IEO drawdown of -79.17%. Use the drawdown chart below to compare losses from any high point for EMKT and IEO.
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Drawdown Indicators
| EMKT | IEO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.21% | -79.17% | +64.96% |
Max Drawdown (1Y)Largest decline over 1 year | — | -16.32% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -31.46% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.46% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -75.00% | — |
Current DrawdownCurrent decline from peak | -5.18% | -15.40% | +10.22% |
Average DrawdownAverage peak-to-trough decline | -3.11% | -26.23% | +23.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.94% | — |
Volatility
EMKT vs. IEO - Volatility Comparison
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Volatility by Period
| EMKT | IEO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.56% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 20.08% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 25.50% | -0.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.64% | 30.53% | -5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.64% | 34.98% | -10.34% |
EMKT vs. IEO - Expense Ratio Comparison
EMKT has a 0.74% expense ratio, which is higher than IEO's 0.42% expense ratio.
Dividends
EMKT vs. IEO - Dividend Comparison
EMKT's dividend yield for the trailing twelve months is around 0.44%, less than IEO's 2.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMKT Lazard Emerging Markets Opportunities ETF | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IEO iShares U.S. Oil & Gas Exploration & Production ETF | 2.15% | 2.61% | 2.63% | 3.00% | 3.77% | 2.62% | 3.17% | 1.85% | 1.67% | 0.94% | 0.98% | 2.03% |
Frequently Asked Questions
EMKT and IEO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEO is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEO is cheaper with a 0.42% expense ratio, compared with 0.74% for EMKT.
IEO has the higher dividend yield at 2.15%, compared with 0.44% for EMKT.
EMKT is categorized as Emerging Markets Diversified, while IEO is Energy Equities. They also come from different issuers: Lazard and iShares. Their fees differ too: 0.74% for EMKT and 0.42% for IEO.
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