FMQQ vs. EMSF

Last updated Apr 2, 2026

Compare and contrast key facts about FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF).

FMQQ and EMSF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMQQ is a passively managed fund by EMQQ that tracks the performance of the FMQQ The Next Frontier Internet & Ecommerce Index - Benchmark TR Net. It was launched on Sep 27, 2021. EMSF is an actively managed fund by Matthews. It was launched on Sep 21, 2023.

Performance

FMQQ vs. EMSF - Performance Comparison

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

FMQQ vs. EMSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	-17.94%	10.77%	12.45%	9.64%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	10.93%	19.20%	-3.09%	1.88%

Returns By Period

In the year-to-date period, FMQQ achieves a -17.94% return, which is significantly lower than EMSF's 10.93% return.

FMQQ

• 1D: 0.70%
• 1M: -8.52%
• YTD: -17.94%
• 6M: -23.47%
• 1Y: -9.56%
• 3Y*: 3.18%
• 5Y*: —
• 10Y*: —

EMSF

• 1D: 1.27%
• 1M: -6.57%
• YTD: 10.93%
• 6M: 8.16%
• 1Y: 32.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMQQ vs. EMSF - Expense Ratio Comparison

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

FMQQ

FMQQ The Next Frontier Internet & Ecommerce ETF

EMSF

Matthews Emerging Markets Sustainable Future Active ETF

Return for Risk

FMQQ vs. EMSF — Risk / Return Rank

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

FMQQ

FMQQ Risk / Return Rank: 5
FMQQ Sharpe Ratio Rank: 4
FMQQ Sortino Ratio Rank: 4
FMQQ Omega Ratio Rank: 4
FMQQ Calmar Ratio Rank: 7
FMQQ Martin Ratio Rank: 5

EMSF

EMSF Risk / Return Rank: 69
EMSF Sharpe Ratio Rank: 70
EMSF Sortino Ratio Rank: 67
EMSF Omega Ratio Rank: 65
EMSF Calmar Ratio Rank: 75
EMSF Martin Ratio Rank: 66

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. EMSF - Risk-Adjusted Trends Comparison

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

	FMQQ	EMSF	Difference
Sharpe ratio Return per unit of total volatility	-0.46	1.32	-1.77
Sortino ratio Return per unit of downside risk	-0.54	1.80	-2.34
Omega ratio Gain probability vs. loss probability	0.94	1.25	-0.32
Calmar ratio Return relative to maximum drawdown	-0.30	2.23	-2.53
Martin ratio Return relative to average drawdown	-0.85	7.48	-8.33
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. EMSF - Sharpe Ratio Comparison

The current FMQQ Sharpe Ratio is -0.46, which is lower than the EMSF Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FMQQ and EMSF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMQQ	EMSF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.46	1.32	-1.77
Sharpe Ratio (All Time) Calculated using the full available price history	-0.64	0.52	-1.15

Correlation

The correlation between FMQQ and EMSF is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FMQQ vs. EMSF - Dividend Comparison

FMQQ's dividend yield for the trailing twelve months is around 0.75%, less than EMSF's 1.70% yield.

	TTM	2025	2024	2023
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF	0.75%	0.61%	0.45%	0.11%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	1.70%	1.88%	3.29%	0.02%

Drawdowns

FMQQ vs. EMSF - Drawdown Comparison

The maximum FMQQ drawdown since its inception was -64.51%, which is greater than EMSF's maximum drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for FMQQ and EMSF.

Drawdown Indicators

	FMQQ	EMSF	Difference
Max Drawdown Largest peak-to-trough decline	-64.51%	-24.75%	-39.76%
Max Drawdown (1Y) Largest decline over 1 year	-30.82%	-14.57%	-16.25%
Current Drawdown Current decline from peak	-55.64%	-9.70%	-45.94%
Average Drawdown Average peak-to-trough decline	-49.20%	-5.96%	-43.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.04%	4.34%	+6.70%

Volatility

FMQQ vs. EMSF - Volatility Comparison

The current volatility for FMQQ The Next Frontier Internet & Ecommerce ETF (FMQQ) is 8.99%, while Matthews Emerging Markets Sustainable Future Active ETF (EMSF) has a volatility of 11.37%. This indicates that FMQQ 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

	FMQQ	EMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.99%	11.37%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	14.36%	19.44%	-5.08%
Volatility (1Y) Calculated over the trailing 1-year period	21.00%	24.57%	-3.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.92%	21.78%	+3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	21.78%	+3.14%