MUSQ vs. EMQQ

Last updated Aug 2, 2026

MUSQ (MUSQ Global Music Industry Index ETF) and EMQQ (EMQQ The Emerging Markets Internet ETF) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry Index, 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, MUSQ returned -0.43%/yr vs 3.09%/yr for EMQQ. Their 0.62 correlation means they have sometimes moved together and sometimes differently. MUSQ charges 0.76%/yr vs 0.86%/yr for EMQQ.

Performance

MUSQ vs. EMQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MUSQ Global Music Industry Index ETF (MUSQ) 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, MUSQ achieves a -12.75% return, which is significantly higher than EMQQ's -14.82% return.

MUSQ

• 1D: -4.84%
• 1M: -4.32%
• 6M: -11.21%
• YTD: -12.75%
• 1Y: -8.84%
• 3Y*: -0.43%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 0.00%

EMQQ

• 1D: 1.06%
• 1M: 7.64%
• 6M: -13.01%
• YTD: -14.82%
• 1Y: -12.02%
• 3Y*: 3.09%
• 5Y*: -7.26%
• 10Y*: 4.76%
• ALL TIME*: 3.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMQQ EMQQ The Emerging Markets Internet ETF	$1.08M	$1.15M	$1.71M
MUSQ MUSQ Global Music Industry Index ETF	$161.63K	$82.87K	$43.23K

MUSQ vs. EMQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MUSQ MUSQ Global Music Industry Index ETF	-12.75%	19.60%	-4.94%	0.81%
EMQQ EMQQ The Emerging Markets Internet ETF	-14.82%	20.66%	13.79%	7.44%

Correlation

The correlation between MUSQ and EMQQ is 0.59, 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.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023	0.62

The correlation between MUSQ and EMQQ has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.

MUSQ vs. EMQQ - Sectors Allocation Comparison

Sectors	MUSQ	EMQQ
Communication Services	77.3%	6.9%
Consumer Cyclical	11.5%	33.1%
Technology	10.6%	7.5%
Industrials	0.6%	1.1%
Basic Materials	-	-
Consumer Defensive	-	0.2%
Energy	-	-
Financial Services	-	3.6%
Healthcare	-	0.0%
Real Estate	-	2.7%
Utilities	-	0.4%

Return for Risk

MUSQ vs. EMQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MUSQ

MUSQ Risk / Return Rank: 5
MUSQ Sharpe Ratio Rank: 4
MUSQ Sortino Ratio Rank: 4
MUSQ Omega Ratio Rank: 4
MUSQ Calmar Ratio Rank: 6
MUSQ Martin Ratio Rank: 5

EMQQ

EMQQ Risk / Return Rank: 5
EMQQ Sharpe Ratio Rank: 4
EMQQ Sortino Ratio Rank: 4
EMQQ Omega Ratio Rank: 4
EMQQ Calmar Ratio Rank: 6
EMQQ Martin Ratio Rank: 6

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MUSQ vs. EMQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) 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.

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.

	MUSQ	EMQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	-0.63	+0.03
Sortino ratio: Return per unit of downside risk	-0.72	-0.78	+0.06
Omega ratio: Gain probability vs. loss probability	0.91	0.91	0.00
Calmar ratio: Return relative to maximum drawdown	-0.46	-0.39	-0.07
Martin ratio: Return relative to average drawdown	-0.94	-0.70	-0.24

MUSQ vs. EMQQ - Sharpe Ratio Comparison

The current MUSQ Sharpe Ratio is -0.59, which is comparable to the EMQQ Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of MUSQ 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.

Drawdowns

MUSQ vs. EMQQ - Drawdown Comparison

The maximum MUSQ drawdown since its inception was -23.11%, smaller than the maximum EMQQ drawdown of -73.24%. Use the drawdown chart below to compare losses from any high point for MUSQ and EMQQ.

Drawdown Indicators

	MUSQ	EMQQ	Difference
Max Drawdown Largest peak-to-trough decline	-23.11%	-73.24%	+50.13%
Max Drawdown (1Y) Largest decline over 1 year	-23.11%	-33.70%	+10.59%
Max Drawdown (3Y) Largest decline over 3 years	-23.11%	-33.70%	+10.59%
Max Drawdown (5Y) Largest decline over 5 years	—	-61.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-73.24%	—
Current Drawdown Current decline from peak	-18.60%	-55.12%	+36.52%
Average Drawdown Average peak-to-trough decline	-7.07%	-31.71%	+24.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.39%	18.96%	-7.57%

Volatility

MUSQ vs. EMQQ - Volatility Comparison

MUSQ Global Music Industry Index ETF (MUSQ) has a higher volatility of 6.64% compared to EMQQ The Emerging Markets Internet ETF (EMQQ) at 5.14%. This indicates that MUSQ's price experiences larger fluctuations and is considered to be riskier than EMQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUSQ	EMQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	5.14%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	15.14%	17.04%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	21.16%	-3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	32.74%	-14.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	30.58%	-12.50%

MUSQ vs. EMQQ - Expense Ratio Comparison

MUSQ has a 0.76% expense ratio, which is lower than EMQQ's 0.86% expense ratio.

Dividends

MUSQ vs. EMQQ - Dividend Comparison

MUSQ's dividend yield for the trailing twelve months is around 0.72%, less than EMQQ's 3.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EMQQ EMQQ The Emerging Markets Internet ETF	3.63%	3.09%	1.70%	0.79%	0.00%	0.00%	0.18%	1.29%	0.00%	0.94%	0.75%	0.08%
MUSQ MUSQ Global Music Industry Index ETF	0.72%	0.63%	1.08%	0.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MUSQ and EMQQ in my portfolio?

MUSQ and EMQQ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MUSQ or EMQQ?

MUSQ has higher volatility (6.64%) compared to EMQQ (5.14%). In terms of maximum drawdown, MUSQ dropped -23.11% vs EMQQ's -73.24%.

Which ETF is better, MUSQ or EMQQ?

On 3-year performance, EMQQ leads with 3.09% vs -0.43% for MUSQ. On fees, MUSQ is cheaper at 0.76% per year. On volatility, EMQQ has been the lower-risk option at 5.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MUSQ or EMQQ?

Over the 3-year period, EMQQ has performed better with a 3.09% return vs -0.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MUSQ or EMQQ?

MUSQ is cheaper with a 0.76% expense ratio, compared with 0.86% for EMQQ.

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

EMQQ has the higher dividend yield at 3.63%, compared with 0.72% for MUSQ.

What is the main difference between MUSQ and EMQQ?

MUSQ is categorized as Communications Equities, while EMQQ is Emerging Markets Equities. MUSQ tracks MUSQ Global Music Industry Index, while EMQQ tracks EMQQ The Emerging Markets Internet Index. Their fees differ too: 0.76% for MUSQ and 0.86% for EMQQ.

Which has better risk-adjusted returns?

MUSQ currently has the higher Sharpe Ratio (-0.59 vs -0.63), 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.