EMOP vs. PIE

Last updated Apr 17, 2026

EMOP (AB Emerging Markets Opportunities ETF) and PIE (Invesco DWA Emerging Markets Momentum ETF) are both exchange-traded funds — EMOP is a Emerging Markets Equities fund actively managed by AllianceBernstein, while PIE is a Momentum fund tracking the Dorsey Wright Emerging Markets Technical Leaders Index. EMOP is actively managed, while PIE is passively managed. A 0.75 correlation means they provide meaningful diversification when combined. EMOP charges 0.70%/yr vs 0.90%/yr for PIE.

Performance

EMOP vs. PIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Emerging Markets Opportunities ETF (EMOP) and Invesco DWA Emerging Markets Momentum ETF (PIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMOP achieves a 19.51% return, which is significantly lower than PIE's 23.59% return.

EMOP

• 1D: 0.44%
• 1M: 8.11%
• YTD: 19.51%
• 6M: 22.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIE

• 1D: -0.15%
• 1M: 9.07%
• YTD: 23.59%
• 6M: 23.38%
• 1Y: 75.65%
• 3Y*: 18.75%
• 5Y*: 5.66%
• 10Y*: 8.90%

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

EMOP vs. PIE - Yearly Performance Comparison

	2026 (YTD)	2025
EMOP AB Emerging Markets Opportunities ETF	19.51%	16.69%
PIE Invesco DWA Emerging Markets Momentum ETF	23.59%	18.70%

Correlation

The correlation between EMOP and PIE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.75

Return for Risk

EMOP vs. PIE — Risk / Return Rank

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

PIE

PIE Risk / Return Rank: 92
PIE Sharpe Ratio Rank: 94
PIE Sortino Ratio Rank: 90
PIE Omega Ratio Rank: 91
PIE Calmar Ratio Rank: 94
PIE Martin Ratio Rank: 92

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.

EMOP vs. PIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Emerging Markets Opportunities ETF (EMOP) and Invesco DWA Emerging Markets Momentum ETF (PIE). 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

	EMOP	PIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.73	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.65	0.09	+2.55

Drawdowns

EMOP vs. PIE - Drawdown Comparison

The maximum EMOP drawdown since its inception was -12.88%, smaller than the maximum PIE drawdown of -72.98%. Use the drawdown chart below to compare losses from any high point for EMOP and PIE.

Drawdown Indicators

	EMOP	PIE	Difference
Max Drawdown Largest peak-to-trough decline	-12.88%	-72.98%	+60.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-40.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.32%	—
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-2.01%	-26.26%	+24.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.91%	—

Volatility

Volatility by Period

	EMOP	PIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.28%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.74%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.89%	20.67%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	20.19%	-1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	21.14%	-2.25%

EMOP vs. PIE - Expense Ratio Comparison

EMOP has a 0.70% expense ratio, which is lower than PIE's 0.90% expense ratio.

Dividends

EMOP vs. PIE - Dividend Comparison

EMOP's dividend yield for the trailing twelve months is around 0.56%, less than PIE's 1.91% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMOP AB Emerging Markets Opportunities ETF	0.56%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PIE Invesco DWA Emerging Markets Momentum ETF	1.91%	2.28%	2.33%	2.59%	3.45%	1.28%	1.32%	2.29%	3.32%	1.63%	1.48%	0.80%