EMQQ vs. EMSF

Last updated Aug 4, 2026

EMQQ (EMQQ The Emerging Markets Internet ETF) and EMSF (Matthews Emerging Markets Sustainable Future Active ETF) are both Emerging Markets Equities funds. EMQQ is passively managed, while EMSF is actively managed. Over the past year, EMQQ returned -10.75% vs 44.16% for EMSF. Their 0.76 correlation means they have sometimes moved together and sometimes differently. EMQQ charges 0.86%/yr vs 0.79%/yr for EMSF.

Performance

EMQQ vs. EMSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in EMQQ The Emerging Markets Internet ETF (EMQQ) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF). 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 EMSF's 32.23% 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%

EMSF

• 1D: 1.15%
• 1M: -7.30%
• 6M: 18.36%
• YTD: 32.23%
• 1Y: 44.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.34%

*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)
EMQQ EMQQ The Emerging Markets Internet ETF	$1.08M	$1.14M	$1.73M
EMSF Matthews Emerging Markets Sustainable Future Active ETF	$153.53K	$123.94K	$184.31K

EMQQ vs. EMSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMQQ EMQQ The Emerging Markets Internet ETF	-13.58%	20.66%	13.79%	7.59%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	32.23%	19.20%	-3.09%	0.98%

Correlation

The correlation between EMQQ and EMSF is 0.64, 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.	0.64
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.76

The correlation between EMQQ and EMSF shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

EMQQ vs. EMSF - Sectors Allocation Comparison

Sectors	EMQQ	EMSF
Consumer Cyclical	33.1%	6.3%
Technology	7.5%	52.8%
Communication Services	6.9%	1.7%
Financial Services	3.6%	15.0%
Real Estate	2.7%	1.6%
Industrials	1.1%	11.0%
Utilities	0.4%	2.1%
Consumer Defensive	0.2%	3.6%
Healthcare	0.0%	6.0%
Basic Materials	-	-
Energy	-	-

Return for Risk

EMQQ vs. EMSF — 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

EMSF

EMSF Risk / Return Rank: 58
EMSF Sharpe Ratio Rank: 58
EMSF Sortino Ratio Rank: 54
EMSF Omega Ratio Rank: 58
EMSF Calmar Ratio Rank: 61
EMSF Martin Ratio Rank: 60

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. EMSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for EMQQ The Emerging Markets Internet ETF (EMQQ) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF). 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	EMSF	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	1.48	-1.99
Sortino ratio: Return per unit of downside risk	-0.60	1.98	-2.58
Omega ratio: Gain probability vs. loss probability	0.93	1.27	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.32	2.28	-2.60
Martin ratio: Return relative to average drawdown	-0.57	7.54	-8.11

EMQQ vs. EMSF - Sharpe Ratio Comparison

The current EMQQ Sharpe Ratio is -0.51, which is lower than the EMSF Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of EMQQ and EMSF, 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. EMSF - Drawdown Comparison

The maximum EMQQ drawdown since its inception was -73.24%, which is greater than EMSF's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for EMQQ and EMSF.

Drawdown Indicators

	EMQQ	EMSF	Difference
Max Drawdown Largest peak-to-trough decline	-73.24%	-24.75%	-48.49%
Max Drawdown (1Y) Largest decline over 1 year	-33.70%	-19.49%	-14.21%
Max Drawdown (3Y) Largest decline over 3 years	-33.70%	—	—
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%	-14.65%	-39.83%
Average Drawdown Average peak-to-trough decline	-31.72%	-5.92%	-25.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.02%	5.87%	+13.15%

Volatility

EMQQ vs. EMSF - Volatility Comparison

The current volatility for EMQQ The Emerging Markets Internet ETF (EMQQ) is 5.25%, while Matthews Emerging Markets Sustainable Future Active ETF (EMSF) has a volatility of 10.75%. This indicates that EMQQ experiences smaller price fluctuations and is considered to be less risky than EMSF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMQQ	EMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.25%	10.75%	-5.50%
Volatility (6M) Calculated over the trailing 6-month period	16.86%	26.52%	-9.66%
Volatility (1Y) Calculated over the trailing 1-year period	21.22%	30.13%	-8.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.73%	24.39%	+8.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.60%	24.39%	+6.21%

EMQQ vs. EMSF - Expense Ratio Comparison

EMQQ has a 0.86% expense ratio, which is higher than EMSF's 0.79% expense ratio.

Dividends

EMQQ vs. EMSF - Dividend Comparison

EMQQ's dividend yield for the trailing twelve months is around 3.57%, more than EMSF's 1.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	1.42%	1.88%	3.29%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMQQ and EMSF in my portfolio?

EMQQ and EMSF have a correlation of 0.64, 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 EMSF?

EMSF has higher volatility (10.75%) compared to EMQQ (5.25%). In terms of maximum drawdown, EMQQ dropped -73.24% vs EMSF's -24.75%.

Which ETF is better, EMQQ or EMSF?

On 1-year performance, EMSF leads with 44.16% vs -10.75% for EMQQ. On fees, EMSF is cheaper at 0.79% 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 EMSF?

Over the 1-year period, EMSF has performed better with a 44.16% return vs -10.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMQQ or EMSF?

EMSF is cheaper with a 0.79% expense ratio, compared with 0.86% for EMQQ.

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

EMQQ has the higher dividend yield at 3.57%, compared with 1.42% for EMSF.

What is the main difference between EMQQ and EMSF?

They also come from different issuers: Exchange Traded Concepts and Matthews. Their fees differ too: 0.86% for EMQQ and 0.79% for EMSF.

Which has better risk-adjusted returns?

EMSF currently has the higher Sharpe Ratio (1.48 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.