EMQQ vs. EMDM

Last updated Aug 4, 2026

EMQQ (EMQQ The Emerging Markets Internet ETF) and EMDM (First Trust Bloomberg Emerging Market Democracies ETF) are both Emerging Markets Equities funds - EMQQ tracks the EMQQ The Emerging Markets Internet Index while EMDM tracks the Bloomberg Emerging Market Democracies Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, EMQQ returned 4.26%/yr vs 28.08%/yr for EMDM. Their 0.65 correlation means they have sometimes moved together and sometimes differently. EMQQ charges 0.86%/yr vs 0.75%/yr for EMDM.

Performance

EMQQ vs. EMDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EMQQ The Emerging Markets Internet ETF (EMQQ) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMQQ achieves a -13.58% return, which is significantly lower than EMDM's 28.39% return.

EMQQ

• 1D: 1.45%
• 1M: 9.20%
• 6M: -12.37%
• YTD: -13.58%
• 1Y: -10.75%
• 3Y*: 4.26%
• 5Y*: -6.86%
• 10Y*: 4.66%
• ALL TIME*: 3.19%

EMDM

• 1D: 0.42%
• 1M: -3.12%
• 6M: 12.42%
• YTD: 28.39%
• 1Y: 66.69%
• 3Y*: 28.08%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 26.54%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMDM First Trust Bloomberg Emerging Market Democracies ETF	$370.33K	$752.09K	$541.22K
EMQQ EMQQ The Emerging Markets Internet ETF	$1.08M	$1.14M	$1.73M

EMQQ vs. EMDM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMQQ EMQQ The Emerging Markets Internet ETF	-13.58%	20.66%	13.79%	-2.03%
EMDM First Trust Bloomberg Emerging Market Democracies ETF	28.39%	59.68%	-4.93%	14.75%

Correlation

The correlation between EMQQ and EMDM is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (All Time) Calculated using the full available price history since Mar 3, 2023	0.65

The correlation between EMQQ and EMDM has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

EMQQ vs. EMDM - Sectors Allocation Comparison

Sectors	EMQQ	EMDM
Consumer Cyclical	33.1%	5.3%
Technology	7.5%	39.9%
Communication Services	6.9%	4.0%
Financial Services	3.6%	25.6%
Real Estate	2.7%	-
Industrials	1.1%	2.6%
Utilities	0.4%	1.5%
Consumer Defensive	0.2%	3.1%
Healthcare	0.0%	0.5%
Basic Materials	-	12.7%
Energy	-	4.8%

Return for Risk

EMQQ vs. EMDM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EMQQ

EMQQ Risk / Return Rank: 6
EMQQ Sharpe Ratio Rank: 5
EMQQ Sortino Ratio Rank: 5
EMQQ Omega Ratio Rank: 5
EMQQ Calmar Ratio Rank: 7
EMQQ Martin Ratio Rank: 7

EMDM

EMDM Risk / Return Rank: 89
EMDM Sharpe Ratio Rank: 91
EMDM Sortino Ratio Rank: 85
EMDM Omega Ratio Rank: 89
EMDM Calmar Ratio Rank: 92
EMDM Martin Ratio Rank: 88

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.

EMQQ vs. EMDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EMQQ The Emerging Markets Internet ETF (EMQQ) and First Trust Bloomberg Emerging Market Democracies ETF (EMDM). 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.

	EMQQ	EMDM	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	2.41	-2.92
Sortino ratio: Return per unit of downside risk	-0.60	2.94	-3.54
Omega ratio: Gain probability vs. loss probability	0.93	1.42	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.32	4.28	-4.60
Martin ratio: Return relative to average drawdown	-0.57	13.58	-14.15

EMQQ vs. EMDM - Sharpe Ratio Comparison

The current EMQQ Sharpe Ratio is -0.51, which is lower than the EMDM Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of EMQQ and EMDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMQQ vs. EMDM - Drawdown Comparison

The maximum EMQQ drawdown since its inception was -73.24%, which is greater than EMDM's maximum drawdown of -18.81%. Use the drawdown chart below to compare losses from any high point for EMQQ and EMDM.

Drawdown Indicators

	EMQQ	EMDM	Difference
Max Drawdown Largest peak-to-trough decline	-73.24%	-18.81%	-54.43%
Max Drawdown (1Y) Largest decline over 1 year	-33.70%	-15.65%	-18.05%
Max Drawdown (3Y) Largest decline over 3 years	-33.70%	-18.81%	-14.89%
Max Drawdown (5Y) Largest decline over 5 years	-61.70%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-73.24%	—	—
Current Drawdown Current decline from peak	-54.48%	-10.51%	-43.97%
Average Drawdown Average peak-to-trough decline	-31.72%	-4.21%	-27.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.02%	4.93%	+14.09%

Volatility

EMQQ vs. EMDM - Volatility Comparison

The current volatility for EMQQ The Emerging Markets Internet ETF (EMQQ) is 5.25%, while First Trust Bloomberg Emerging Market Democracies ETF (EMDM) has a volatility of 9.92%. This indicates that EMQQ experiences smaller price fluctuations and is considered to be less risky than EMDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMQQ	EMDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	9.92%	-4.67%
Volatility (6M) Calculated over the trailing 6-month period	16.86%	25.36%	-8.50%
Volatility (1Y) Calculated over the trailing 1-year period	21.22%	27.91%	-6.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.73%	21.15%	+11.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.60%	21.15%	+9.45%

EMQQ vs. EMDM - Expense Ratio Comparison

EMQQ has a 0.86% expense ratio, which is higher than EMDM's 0.75% expense ratio.

Dividends

EMQQ vs. EMDM - Dividend Comparison

EMQQ's dividend yield for the trailing twelve months is around 3.57%, more than EMDM's 2.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMDM First Trust Bloomberg Emerging Market Democracies ETF	2.95%	3.57%	5.87%	2.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMQQ EMQQ The Emerging Markets Internet ETF	3.57%	3.09%	1.70%	0.79%	0.00%	0.00%	0.18%	1.29%	0.00%	0.94%	0.75%	0.08%

Frequently Asked Questions

Can I hold both EMQQ and EMDM in my portfolio?

EMQQ and EMDM have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMQQ or EMDM?

EMDM has higher volatility (9.92%) compared to EMQQ (5.25%). In terms of maximum drawdown, EMQQ dropped -73.24% vs EMDM's -18.81%.

Which ETF is better, EMQQ or EMDM?

On 3-year performance, EMDM leads with 28.08% vs 4.26% for EMQQ. On fees, EMDM is cheaper at 0.75% per year. On volatility, EMQQ has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMQQ or EMDM?

Over the 3-year period, EMDM has performed better with a 28.08% return vs 4.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMQQ or EMDM?

EMDM is cheaper with a 0.75% expense ratio, compared with 0.86% for EMQQ.

Which ETF pays a higher dividend yield, EMQQ or EMDM?

EMQQ has the higher dividend yield at 3.57%, compared with 2.95% for EMDM.

What is the main difference between EMQQ and EMDM?

EMQQ tracks EMQQ The Emerging Markets Internet Index, while EMDM tracks Bloomberg Emerging Market Democracies Index - Benchmark TR Net. They also come from different issuers: Exchange Traded Concepts and First Trust. Their fees differ too: 0.86% for EMQQ and 0.75% for EMDM.

Which has better risk-adjusted returns?

EMDM currently has the higher Sharpe Ratio (2.41 vs -0.51), 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.