EMXF vs. ROAM

Last updated Jun 4, 2026

EMXF (iShares ESG Advanced MSCI EM ETF) and ROAM (Hartford Multifactor Emerging Markets ETF) are both Emerging Markets Equities funds - EMXF tracks the MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index while ROAM tracks the Hartford Multifactor Emerging Markets Equity Index. Both are passively managed. Over the past 5 years, EMXF returned 7.15%/yr vs 12.31%/yr for ROAM. Their correlation of 0.82 suggests significant overlap in exposure. EMXF charges 0.16%/yr vs 0.44%/yr for ROAM.

Performance

EMXF vs. ROAM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares ESG Advanced MSCI EM ETF (EMXF) and Hartford Multifactor Emerging Markets ETF (ROAM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMXF achieves a 24.76% return, which is significantly lower than ROAM's 26.83% return.

EMXF

• 1D: -1.30%
• 1M: 8.70%
• YTD: 24.76%
• 6M: 27.57%
• 1Y: 47.21%
• 3Y*: 21.67%
• 5Y*: 7.15%
• 10Y*: —

ROAM

• 1D: -1.60%
• 1M: 8.68%
• YTD: 26.83%
• 6M: 28.99%
• 1Y: 51.96%
• 3Y*: 26.00%
• 5Y*: 12.31%
• 10Y*: 9.87%

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

EMXF vs. ROAM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
EMXF iShares ESG Advanced MSCI EM ETF	24.76%	29.40%	8.03%	6.63%	-18.99%	4.45%	15.32%
ROAM Hartford Multifactor Emerging Markets ETF	26.83%	32.08%	6.21%	21.28%	-14.78%	9.32%	15.52%

Correlation

The correlation between EMXF and ROAM is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 14, 2020	0.82

The correlation between EMXF and ROAM has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

EMXF vs. ROAM - Sectors Allocation Comparison

Sectors	EMXF	ROAM
Technology	35.2%	39.4%
Financial Services	32.2%	19.3%
Communication Services	8.0%	6.0%
Consumer Cyclical	5.7%	7.6%
Industrials	5.5%	5.6%
Healthcare	4.2%	3.3%
Consumer Defensive	2.9%	4.8%
Basic Materials	2.6%	4.1%
Real Estate	1.7%	1.3%
Utilities	0.6%	2.3%
Energy	0.0%	5.3%

Return for Risk

EMXF vs. ROAM — Risk / Return Rank

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

EMXF

EMXF Risk / Return Rank: 77
EMXF Sharpe Ratio Rank: 78
EMXF Sortino Ratio Rank: 76
EMXF Omega Ratio Rank: 78
EMXF Calmar Ratio Rank: 75
EMXF Martin Ratio Rank: 76

ROAM

ROAM Risk / Return Rank: 91
ROAM Sharpe Ratio Rank: 93
ROAM Sortino Ratio Rank: 92
ROAM Omega Ratio Rank: 92
ROAM Calmar Ratio Rank: 89
ROAM Martin Ratio Rank: 89

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.

EMXF vs. ROAM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares ESG Advanced MSCI EM ETF (EMXF) and Hartford Multifactor Emerging Markets ETF (ROAM). 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.

	EMXF	ROAM	Difference
Sharpe ratio: Return per unit of total volatility	2.55	3.50	-0.95
Sortino ratio: Return per unit of downside risk	3.42	4.48	-1.07
Omega ratio: Gain probability vs. loss probability	1.47	1.63	-0.16
Calmar ratio: Return relative to maximum drawdown	3.79	5.27	-1.48
Martin ratio: Return relative to average drawdown	14.56	19.91	-5.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMXF vs. ROAM - Sharpe Ratio Comparison

The current EMXF Sharpe Ratio is 2.55, which is comparable to the ROAM Sharpe Ratio of 3.50. The chart below compares the historical Sharpe Ratios of EMXF and ROAM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMXF	ROAM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	3.50	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.81	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.38	+0.13

Drawdowns

EMXF vs. ROAM - Drawdown Comparison

The maximum EMXF drawdown since its inception was -33.13%, smaller than the maximum ROAM drawdown of -45.47%. Use the drawdown chart below to compare losses from any high point for EMXF and ROAM.

Drawdown Indicators

	EMXF	ROAM	Difference
Max Drawdown Largest peak-to-trough decline	-33.13%	-45.47%	+12.34%
Max Drawdown (1Y) Largest decline over 1 year	-12.53%	-9.92%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.93%	-16.79%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-32.89%	-27.07%	-5.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.47%	—
Current Drawdown Current decline from peak	-1.30%	-1.60%	+0.30%
Average Drawdown Average peak-to-trough decline	-12.02%	-11.13%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	2.62%	+0.63%

Volatility

EMXF vs. ROAM - Volatility Comparison

iShares ESG Advanced MSCI EM ETF (EMXF) has a higher volatility of 8.10% compared to Hartford Multifactor Emerging Markets ETF (ROAM) at 6.41%. This indicates that EMXF's price experiences larger fluctuations and is considered to be riskier than ROAM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMXF	ROAM	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.10%	6.41%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	16.13%	12.76%	+3.37%
Volatility (1Y) Calculated over the trailing 1-year period	18.60%	14.93%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.15%	15.23%	+6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	17.87%	+3.90%

EMXF vs. ROAM - Expense Ratio Comparison

EMXF has a 0.16% expense ratio, which is lower than ROAM's 0.44% expense ratio.

Dividends

EMXF vs. ROAM - Dividend Comparison

EMXF's dividend yield for the trailing twelve months is around 2.75%, more than ROAM's 2.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMXF iShares ESG Advanced MSCI EM ETF	2.75%	3.43%	2.92%	2.25%	2.42%	1.87%	0.41%	0.00%	0.00%	0.00%	0.00%	0.00%
ROAM Hartford Multifactor Emerging Markets ETF	2.50%	3.17%	4.15%	5.40%	5.23%	4.22%	3.04%	3.55%	2.54%	1.84%	1.89%	2.25%

Frequently Asked Questions

Can I hold both EMXF and ROAM in my portfolio?

With a correlation of 0.91, EMXF and ROAM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EMXF or ROAM?

EMXF has higher volatility (8.10%) compared to ROAM (6.41%). In terms of maximum drawdown, EMXF dropped -33.13% vs ROAM's -45.47%.

Which ETF is better, EMXF or ROAM?

On 5-year performance, ROAM leads with 12.31% vs 7.15% for EMXF. On fees, EMXF is cheaper at 0.16% per year. On volatility, ROAM has been the lower-risk option at 6.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMXF or ROAM?

Over the 5-year period, ROAM has performed better with a 12.31% return vs 7.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMXF or ROAM?

EMXF is cheaper with a 0.16% expense ratio, compared with 0.44% for ROAM.

Which ETF pays a higher dividend yield, EMXF or ROAM?

EMXF has the higher dividend yield at 2.75%, compared with 2.50% for ROAM.

What is the main difference between EMXF and ROAM?

EMXF tracks MSCI Emerging Markets Choice ESG Screened 5% Issuer Capped Index, while ROAM tracks Hartford Multifactor Emerging Markets Equity Index. They also come from different issuers: iShares and Hartford. Their fees differ too: 0.16% for EMXF and 0.44% for ROAM.

Which has better risk-adjusted returns?

ROAM currently has the higher Sharpe Ratio (3.50 vs 2.55), 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.