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MAIN vs. EEM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MAIN vs. EEM

Last updated Jun 13, 2026

MAIN (Main Street Capital Corporation) is a stock, while EEM (iShares MSCI Emerging Markets ETF) is Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index (Net). Over the past 10 years, MAIN returned 13.19%/yr vs 9.91%/yr for EEM. At a 0.36 correlation, their price movements are largely independent.

Performance

MAIN vs. EEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Main Street Capital Corporation (MAIN) and iShares MSCI Emerging Markets ETF (EEM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MAIN achieves a -10.97% return, which is significantly lower than EEM's 24.07% return. Over the past 10 years, MAIN has outperformed EEM with an annualized return of 13.19%, while EEM has yielded a comparatively lower 9.91% annualized return.

MAIN

1D
0.54%
1M
3.14%
YTD
-10.97%
6M
-12.92%
1Y
-3.16%
3Y*
18.74%
5Y*
12.76%
10Y*
13.19%

EEM

1D
0.56%
1M
0.74%
YTD
24.07%
6M
26.94%
1Y
47.57%
3Y*
21.60%
5Y*
6.56%
10Y*
9.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MAIN vs. EEM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MAIN
Main Street Capital Corporation		-10.97%10.74%47.30%28.22%-11.37%48.31%-19.54%36.88%-8.27%16.62%
EEM
iShares MSCI Emerging Markets ETF		24.07%33.98%6.49%8.95%-20.56%-3.63%17.02%18.22%-15.31%37.26%

Correlation

The correlation between MAIN and EEM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.33

Correlation (5Y)
Calculated over the trailing 5-year period

0.37

Correlation (10Y)
Calculated over the trailing 10-year period

0.34

Correlation (All Time)
Calculated using the full available price history since Oct 9, 2007

0.36

Compare stocks, funds, or ETFs

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Main Street Capital Corporation

iShares MSCI Emerging Markets ETF

Often compared with MAIN:
MAIN vs. ARCCMAIN vs. JEPIMAIN vs. SCHDMAIN vs. VOOMAIN vs. HTGCMAIN vs. CSWCMAIN vs. PSEC
Often compared with EEM:
EEM vs. VWOEEM vs. SPYEEM vs. IEMGEEM vs. IS3N.DEEEM vs. VXUSEEM vs. EEMSEEM vs. SPEM

Return for Risk

MAIN vs. EEM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MAIN
MAIN Risk / Return Rank: 3434
Overall Rank
MAIN Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
MAIN Sortino Ratio Rank: 3131
Sortino Ratio Rank
MAIN Omega Ratio Rank: 3131
Omega Ratio Rank
MAIN Calmar Ratio Rank: 3838
Calmar Ratio Rank
MAIN Martin Ratio Rank: 3737
Martin Ratio Rank
EEM
EEM Risk / Return Rank: 7575
Overall Rank
EEM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EEM Sortino Ratio Rank: 7070
Sortino Ratio Rank
EEM Omega Ratio Rank: 7878
Omega Ratio Rank
EEM Calmar Ratio Rank: 7575
Calmar Ratio Rank
EEM Martin Ratio Rank: 7575
Martin Ratio Rank
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.

MAIN vs. EEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Main Street Capital Corporation (MAIN) and iShares MSCI Emerging Markets ETF (EEM). 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.

MAINEEMDifference
Sharpe ratioReturn per unit of total volatility
-0.16
2.10

-2.26

Sortino ratioReturn per unit of downside risk
-0.05
2.73

-2.78

Omega ratioGain probability vs. loss probability

0.99

1.40

-0.40

Calmar ratioReturn relative to maximum drawdown

-0.18

3.36

-3.54

Martin ratioReturn relative to average drawdown

-0.35

12.38

-12.74

MAIN vs. EEM - Sharpe Ratio Comparison

The current MAIN Sharpe Ratio is -0.16, which is lower than the EEM Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of MAIN and EEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MAIN vs. EEM - Drawdown Comparison

The maximum MAIN drawdown since its inception was -64.53%, roughly equal to the maximum EEM drawdown of -66.43%. Use the drawdown chart below to compare losses from any high point for MAIN and EEM.

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Drawdown Indicators

MAINEEMDifference

Max Drawdown

Largest peak-to-trough decline

-64.53%

-66.43%

+1.90%

Max Drawdown (1Y)

Largest decline over 1 year

-22.43%

-13.52%

-8.91%

Max Drawdown (3Y)

Largest decline over 3 years

-22.43%

-17.29%

-5.14%

Max Drawdown (5Y)

Largest decline over 5 years

-27.06%

-37.49%

+10.43%

Max Drawdown (10Y)

Largest decline over 10 years

-64.53%

-39.82%

-24.71%

Current Drawdown

Current decline from peak

-18.28%

-4.12%

-14.16%

Average Drawdown

Average peak-to-trough decline

-7.31%

-16.00%

+8.69%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.18%

3.67%

+7.51%

Volatility

MAIN vs. EEM - Volatility Comparison

The current volatility for Main Street Capital Corporation (MAIN) is 5.82%, while iShares MSCI Emerging Markets ETF (EEM) has a volatility of 10.80%. This indicates that MAIN experiences smaller price fluctuations and is considered to be less risky than EEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MAINEEMDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.82%

10.80%

-4.98%

Volatility (6M)

Calculated over the trailing 6-month period

20.12%

19.39%

+0.73%

Volatility (1Y)

Calculated over the trailing 1-year period

24.84%

21.64%

+3.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.57%

19.26%

+2.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.30%

20.64%

+6.66%

Dividends

MAIN vs. EEM - Dividend Comparison

MAIN's dividend yield for the trailing twelve months is around 8.25%, more than EEM's 1.79% yield.

PositionTTM20252024202320222021202020192018201720162015
EEM
iShares MSCI Emerging Markets ETF		1.79%2.22%2.43%2.63%2.50%1.99%1.45%2.76%2.24%1.89%1.89%2.49%
MAIN
Main Street Capital Corporation		8.25%7.00%7.02%8.55%7.97%5.74%6.99%6.76%8.43%7.49%7.42%9.15%

Frequently Asked Questions

MAIN and EEM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EEM has higher volatility (10.80%) compared to MAIN (5.82%). In terms of maximum drawdown, MAIN dropped -64.53% vs EEM's -66.43%.

EEM currently has the higher Sharpe Ratio (2.10 vs -0.16), 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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