KEMX vs. QLTI
KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) and QLTI (GMO International Quality ETF) are both exchange-traded funds - KEMX is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while QLTI is a Quality Factor fund actively managed by GMO. KEMX is passively managed, while QLTI is actively managed. Over the past year, KEMX returned 56.00% vs 13.07% for QLTI. Their 0.60 correlation means they have sometimes moved together and sometimes differently. KEMX charges 0.25%/yr vs 0.60%/yr for QLTI.
Performance
KEMX vs. QLTI - Performance Comparison
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Returns By Period
In the year-to-date period, KEMX achieves a 30.22% return, which is significantly higher than QLTI's 2.92% return.
KEMX
- 1D
- 0.80%
- 1M
- -4.08%
- 6M
- 16.35%
- YTD
- 30.22%
- 1Y
- 56.00%
- 3Y*
- 25.12%
- 5Y*
- 12.08%
- 10Y*
- —
- ALL TIME*
- 12.50%
QLTI
- 1D
- 1.02%
- 1M
- 0.36%
- 6M
- 0.13%
- YTD
- 2.92%
- 1Y
- 13.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.09%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $527.87K | $528.96K | $586.53K | |
| $1.20M | $689.93K | $726.49K |
KEMX vs. QLTI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 30.22% | 38.28% | -7.05% |
QLTI GMO International Quality ETF | 2.92% | 17.12% | -7.94% |
Correlation
The correlation between KEMX and QLTI is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024 | 0.60 |
The correlation between KEMX and QLTI has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.
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Return for Risk
KEMX vs. QLTI — Risk / Return Rank
KEMX
QLTI
KEMX vs. QLTI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) and GMO International Quality ETF (QLTI). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| KEMX | QLTI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.33 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.15 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.49 | 0.96 | +2.54 |
| Martin ratioReturn relative to average drawdown | 10.97 | 2.65 | +8.33 |
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Drawdowns
KEMX vs. QLTI - Drawdown Comparison
The maximum KEMX drawdown since its inception was -38.80%, which is greater than QLTI's maximum drawdown of -14.82%. Use the drawdown chart below to compare losses from any high point for KEMX and QLTI.
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Drawdown Indicators
| KEMX | QLTI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.80% | -14.82% | -23.98% |
Max Drawdown (1Y)Largest decline over 1 year | -16.11% | -13.72% | -2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.62% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.85% | — | — |
Current DrawdownCurrent decline from peak | -11.37% | -2.72% | -8.65% |
Average DrawdownAverage peak-to-trough decline | -8.82% | -3.87% | -4.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 4.95% | +0.17% |
Volatility
KEMX vs. QLTI - Volatility Comparison
KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a higher volatility of 9.60% compared to GMO International Quality ETF (QLTI) at 4.50%. This indicates that KEMX's price experiences larger fluctuations and is considered to be riskier than QLTI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KEMX | QLTI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.60% | 4.50% | +5.10% |
Volatility (6M)Calculated over the trailing 6-month period | 24.90% | 13.31% | +11.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.99% | 15.62% | +11.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.41% | 16.60% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 16.60% | +4.91% |
KEMX vs. QLTI - Expense Ratio Comparison
KEMX has a 0.25% expense ratio, which is lower than QLTI's 0.60% expense ratio.
Dividends
KEMX vs. QLTI - Dividend Comparison
KEMX's dividend yield for the trailing twelve months is around 2.52%, more than QLTI's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.52% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% |
QLTI GMO International Quality ETF | 0.59% | 0.52% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KEMX and QLTI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KEMX has higher volatility (9.60%) compared to QLTI (4.50%). In terms of maximum drawdown, KEMX dropped -38.80% vs QLTI's -14.82%.
On 1-year performance, KEMX leads with 56.00% vs 13.07% for QLTI. On fees, KEMX is cheaper at 0.25% per year. On volatility, QLTI has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KEMX has performed better with a 56.00% return vs 13.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KEMX is cheaper with a 0.25% expense ratio, compared with 0.60% for QLTI.
KEMX has the higher dividend yield at 2.52%, compared with 0.59% for QLTI.
KEMX is categorized as Emerging Markets Equities, while QLTI is Quality Factor. They also come from different issuers: CICC and GMO. Their fees differ too: 0.25% for KEMX and 0.60% for QLTI.
KEMX currently has the higher Sharpe Ratio (2.09 vs 0.84), 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.
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