HEEM vs. EMKT
HEEM (iShares Currency Hedged MSCI Emerging Markets ETF) and EMKT (Lazard Emerging Markets Opportunities ETF) are both Emerging Markets Diversified funds. HEEM is passively managed, while EMKT is actively managed. Their correlation of 0.93 suggests significant overlap in exposure. HEEM charges 0.72%/yr vs 0.74%/yr for EMKT.
Performance
HEEM vs. EMKT - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HEEM achieves a 20.85% return, which is significantly lower than EMKT's 22.09% return.
HEEM
- 1D
- -5.76%
- 1M
- -2.36%
- YTD
- 20.85%
- 6M
- 21.68%
- 1Y
- 50.37%
- 3Y*
- 23.65%
- 5Y*
- 8.78%
- 10Y*
- 10.40%
EMKT
- 1D
- -5.37%
- 1M
- -1.03%
- YTD
- 22.09%
- 6M
- 23.13%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEEM vs. EMKT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 20.85% | 1.96% |
EMKT Lazard Emerging Markets Opportunities ETF | 22.09% | -1.29% |
Correlation
The correlation between HEEM and EMKT is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 28, 2025 | 0.93 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HEEM vs. EMKT — Risk / Return Rank
HEEM
EMKT
HEEM vs. EMKT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Currency Hedged MSCI Emerging Markets ETF (HEEM) and Lazard Emerging Markets Opportunities ETF (EMKT). 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.
| HEEM | EMKT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.52 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | — | — |
| Martin ratioReturn relative to average drawdown | 18.40 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HEEM | EMKT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.55 | -1.10 |
Drawdowns
HEEM vs. EMKT - Drawdown Comparison
The maximum HEEM drawdown since its inception was -33.53%, which is greater than EMKT's maximum drawdown of -14.21%. Use the drawdown chart below to compare losses from any high point for HEEM and EMKT.
Loading charts...
Drawdown Indicators
| HEEM | EMKT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.53% | -14.21% | -19.32% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -14.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.60% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.53% | — | — |
Current DrawdownCurrent decline from peak | -7.80% | -7.46% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -11.13% | -3.06% | -8.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | — | — |
Volatility
HEEM vs. EMKT - Volatility Comparison
Loading charts...
Volatility by Period
| HEEM | EMKT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.48% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 16.57% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.71% | 23.46% | -4.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 23.46% | -6.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.06% | 23.46% | -5.40% |
HEEM vs. EMKT - Expense Ratio Comparison
HEEM has a 0.72% expense ratio, which is lower than EMKT's 0.74% expense ratio.
Dividends
HEEM vs. EMKT - Dividend Comparison
HEEM's dividend yield for the trailing twelve months is around 3.29%, while EMKT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMKT Lazard Emerging Markets Opportunities ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HEEM iShares Currency Hedged MSCI Emerging Markets ETF | 3.29% | 3.98% | 2.38% | 2.75% | 7.49% | 1.93% | 1.49% | 3.04% | 2.37% | 2.05% | 1.84% | 6.28% |
Frequently Asked Questions
With a correlation of 0.93, HEEM and EMKT 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.
On fees, HEEM is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEEM is cheaper with a 0.72% expense ratio, compared with 0.74% for EMKT.
HEEM has the higher dividend yield at 3.29%, compared with 0.00% for EMKT.
They also come from different issuers: iShares and Lazard. Their fees differ too: 0.72% for HEEM and 0.74% for EMKT.
Find the right allocation for HEEM and EMKT
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer