EMSM.DE vs. EQQX.DE
EMSM.DE (SPDR MSCI Emerging Markets Small Cap UCITS ETF) and EQQX.DE (Invesco Nasdaq-100 Swap UCITS ETF Acc) are both exchange-traded funds - EMSM.DE is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while EQQX.DE is a Nasdaq-100 fund tracking the Nasdaq 100®. Both are passively managed. Over the past 5 years, EMSM.DE returned 8.20%/yr vs 19.11%/yr for EQQX.DE. A 0.58 correlation means they provide meaningful diversification when combined. EMSM.DE charges 0.55%/yr vs 0.20%/yr for EQQX.DE.
Performance
EMSM.DE vs. EQQX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMSM.DE achieves a 27.59% return, which is significantly higher than EQQX.DE's 21.61% return.
EMSM.DE
- 1D
- -1.74%
- 1M
- 6.15%
- YTD
- 27.59%
- 6M
- 29.59%
- 1Y
- 49.96%
- 3Y*
- 20.54%
- 5Y*
- 8.20%
- 10Y*
- 9.68%
EQQX.DE
- 1D
- 0.11%
- 1M
- 10.15%
- YTD
- 21.61%
- 6M
- 20.44%
- 1Y
- 39.08%
- 3Y*
- 25.43%
- 5Y*
- 19.11%
- 10Y*
- —
EMSM.DE vs. EQQX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
EMSM.DE SPDR MSCI Emerging Markets Small Cap UCITS ETF | 27.59% | 18.76% | 13.62% | 5.12% | -14.15% | -2.63% |
EQQX.DE Invesco Nasdaq-100 Swap UCITS ETF Acc | 21.61% | 7.13% | 33.88% | 51.62% | -29.90% | 26.11% |
Correlation
The correlation between EMSM.DE and EQQX.DE is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.58 |
The correlation between EMSM.DE and EQQX.DE shifts across timeframes, from 0.57 (5 years) to 0.68 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMSM.DE vs. EQQX.DE — Risk / Return Rank
EMSM.DE
EQQX.DE
EMSM.DE vs. EQQX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE) and Invesco Nasdaq-100 Swap UCITS ETF Acc (EQQX.DE). 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.
| EMSM.DE | EQQX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.44 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 4.83 | 3.91 | +0.92 |
| Martin ratioReturn relative to average drawdown | 17.39 | 11.64 | +5.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMSM.DE | EQQX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 2.49 | +0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.95 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.90 | -0.48 |
Drawdowns
EMSM.DE vs. EQQX.DE - Drawdown Comparison
The maximum EMSM.DE drawdown since its inception was -36.49%, which is greater than EQQX.DE's maximum drawdown of -31.17%. Use the drawdown chart below to compare losses from any high point for EMSM.DE and EQQX.DE.
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Drawdown Indicators
| EMSM.DE | EQQX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.49% | -31.17% | -5.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.29% | -9.97% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -19.25% | -26.80% | +7.55% |
Max Drawdown (5Y)Largest decline over 5 years | -23.87% | -31.17% | +7.30% |
Max Drawdown (10Y)Largest decline over 10 years | -31.69% | — | — |
Current DrawdownCurrent decline from peak | -2.68% | 0.00% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -10.06% | -7.99% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.86% | 3.36% | -0.50% |
Volatility
EMSM.DE vs. EQQX.DE - Volatility Comparison
SPDR MSCI Emerging Markets Small Cap UCITS ETF (EMSM.DE) has a higher volatility of 7.40% compared to Invesco Nasdaq-100 Swap UCITS ETF Acc (EQQX.DE) at 4.15%. This indicates that EMSM.DE's price experiences larger fluctuations and is considered to be riskier than EQQX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMSM.DE | EQQX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.40% | 4.15% | +3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 14.93% | 10.89% | +4.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 15.75% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.73% | 19.86% | -3.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.33% | 19.79% | -1.46% |
EMSM.DE vs. EQQX.DE - Expense Ratio Comparison
EMSM.DE has a 0.55% expense ratio, which is higher than EQQX.DE's 0.20% expense ratio.
Dividends
EMSM.DE vs. EQQX.DE - Dividend Comparison
Neither EMSM.DE nor EQQX.DE has paid dividends to shareholders.
Frequently Asked Questions
EMSM.DE and EQQX.DE have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EQQX.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EQQX.DE is cheaper with a 0.20% expense ratio, compared with 0.55% for EMSM.DE.
EMSM.DE is categorized as Emerging Markets Equities, while EQQX.DE is Nasdaq-100. EMSM.DE tracks MSCI EM NR USD, while EQQX.DE tracks Nasdaq 100®. Their fees differ too: 0.55% for EMSM.DE and 0.20% for EQQX.DE.
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