FMQQ vs. EMQQ

Last updated Jun 3, 2026

FMQQ (FMQQ The Next Frontier Internet & Ecommerce ETF) and EMQQ (EMQQ The Emerging Markets Internet ETF) are both exchange-traded funds - FMQQ is a Emerging Markets Diversified fund tracking the FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while EMQQ is a Emerging Markets Equities fund tracking the EMQQ The Emerging Markets Internet Index. Both are passively managed. Over the past 3 years, FMQQ returned 2.69%/yr vs 6.20%/yr for EMQQ. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.86% expense ratio.

Performance

FMQQ vs. EMQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and EMQQ The Emerging Markets Internet ETF (EMQQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMQQ achieves a -16.41% return, which is significantly higher than EMQQ's -17.59% return.

FMQQ

• 1D: -1.07%
• 1M: -3.97%
• YTD: -16.41%
• 6M: -19.47%
• 1Y: -18.97%
• 3Y*: 2.69%
• 5Y*: —
• 10Y*: —

EMQQ

• 1D: 1.06%
• 1M: -3.20%
• YTD: -17.59%
• 6M: -19.58%
• 1Y: -13.29%
• 3Y*: 6.20%
• 5Y*: -10.61%
• 10Y*: 4.86%

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

FMQQ vs. EMQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	-16.41%	10.77%	12.45%	15.15%	-54.03%	-15.21%
EMQQ EMQQ The Emerging Markets Internet ETF	-17.59%	20.66%	13.79%	4.48%	-30.70%	-13.39%

Correlation

The correlation between FMQQ and EMQQ is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Sep 29, 2021	0.74

The correlation between FMQQ and EMQQ has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

FMQQ vs. EMQQ - Sectors Allocation Comparison

Sectors	FMQQ	EMQQ
Consumer Cyclical	32.7%	33.1%
Technology	9.8%	8.2%
Communication Services	6.4%	6.8%
Financial Services	2.3%	3.6%
Utilities	1.5%	0.4%
Real Estate	1.0%	2.7%
Consumer Defensive	0.6%	0.2%
Industrials	0.4%	0.3%
Basic Materials	-	-
Energy	-	-
Healthcare	-	0.0%

Return for Risk

FMQQ vs. EMQQ — Risk / Return Rank

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

FMQQ

FMQQ Risk / Return Rank: 2
FMQQ Sharpe Ratio Rank: 1
FMQQ Sortino Ratio Rank: 2
FMQQ Omega Ratio Rank: 2
FMQQ Calmar Ratio Rank: 4
FMQQ Martin Ratio Rank: 3

EMQQ

EMQQ Risk / Return Rank: 4
EMQQ Sharpe Ratio Rank: 3
EMQQ Sortino Ratio Rank: 3
EMQQ Omega Ratio Rank: 3
EMQQ Calmar Ratio Rank: 5
EMQQ Martin Ratio Rank: 5

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.

FMQQ vs. EMQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and EMQQ The Emerging Markets Internet ETF (EMQQ). 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.

	FMQQ	EMQQ	Difference
Sharpe ratio Return per unit of total volatility	-1.01	-0.65	-0.35
Sortino ratio Return per unit of downside risk	-1.40	-0.84	-0.56
Omega ratio Gain probability vs. loss probability	0.85	0.91	-0.06
Calmar ratio Return relative to maximum drawdown	-0.59	-0.41	-0.18
Martin ratio Return relative to average drawdown	-1.21	-0.83	-0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMQQ vs. EMQQ - Sharpe Ratio Comparison

The current FMQQ Sharpe Ratio is -1.01, which is lower than the EMQQ Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of FMQQ and EMQQ, 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

	FMQQ	EMQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.01	-0.65	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.32	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.16	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.61	0.10	-0.71

Drawdowns

FMQQ vs. EMQQ - Drawdown Comparison

The maximum FMQQ drawdown since its inception was -64.51%, smaller than the maximum EMQQ drawdown of -73.24%. Use the drawdown chart below to compare losses from any high point for FMQQ and EMQQ.

Drawdown Indicators

	FMQQ	EMQQ	Difference
Max Drawdown Largest peak-to-trough decline	-64.51%	-73.24%	+8.73%
Max Drawdown (1Y) Largest decline over 1 year	-30.82%	-29.96%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-30.82%	-29.96%	-0.86%
Max Drawdown (5Y) Largest decline over 5 years	—	-66.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.24%	—
Current Drawdown Current decline from peak	-54.81%	-56.59%	+1.78%
Average Drawdown Average peak-to-trough decline	-49.37%	-31.35%	-18.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.99%	14.93%	+0.06%

Volatility

FMQQ vs. EMQQ - Volatility Comparison

The current volatility for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) is 5.83%, while EMQQ The Emerging Markets Internet ETF (EMQQ) has a volatility of 6.58%. This indicates that FMQQ experiences smaller price fluctuations and is considered to be less risky than EMQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMQQ	EMQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	6.58%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	15.50%	16.17%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	18.92%	20.46%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.81%	33.12%	-8.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.81%	30.60%	-5.79%

FMQQ vs. EMQQ - Expense Ratio Comparison

Both FMQQ and EMQQ have an expense ratio of 0.86%.

Dividends

FMQQ vs. EMQQ - Dividend Comparison

FMQQ's dividend yield for the trailing twelve months is around 0.73%, less than EMQQ's 3.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMQQ EMQQ The Emerging Markets Internet ETF	3.75%	3.09%	1.70%	0.79%	0.00%	0.00%	0.18%	1.29%	0.00%	0.94%	0.75%	0.08%
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	0.73%	0.61%	0.45%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMQQ and EMQQ in my portfolio?

FMQQ and EMQQ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMQQ or EMQQ?

EMQQ has higher volatility (6.58%) compared to FMQQ (5.83%). In terms of maximum drawdown, FMQQ dropped -64.51% vs EMQQ's -73.24%.

Which ETF is better, FMQQ or EMQQ?

On 3-year performance, EMQQ leads with 6.20% vs 2.69% for FMQQ. Both ETFs have the same 0.86% expense ratio. On volatility, FMQQ has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMQQ or EMQQ?

Over the 3-year period, EMQQ has performed better with a 6.20% return vs 2.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMQQ or EMQQ?

FMQQ and EMQQ have the same expense ratio: 0.86% per year.

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

EMQQ has the higher dividend yield at 3.75%, compared with 0.73% for FMQQ.

What is the main difference between FMQQ and EMQQ?

FMQQ is categorized as Emerging Markets Diversified, while EMQQ is Emerging Markets Equities. FMQQ tracks FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net, while EMQQ tracks EMQQ The Emerging Markets Internet Index. They also come from different issuers: EMQQ and Exchange Traded Concepts.

Which has better risk-adjusted returns?

EMQQ currently has the higher Sharpe Ratio (-0.65 vs -1.01), 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.