OAEM vs. EMM

Last updated Jun 24, 2026

OAEM (OneAscent Emerging Markets ETF) and EMM (Global X Emerging Markets ex-China ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past 3 years, OAEM returned 20.22%/yr vs 21.97%/yr for EMM. Their correlation of 0.85 suggests significant overlap in exposure. OAEM charges 1.25%/yr vs 0.75%/yr for EMM.

Performance

OAEM vs. EMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OneAscent Emerging Markets ETF (OAEM) and Global X Emerging Markets ex-China ETF (EMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OAEM achieves a 32.44% return, which is significantly higher than EMM's 30.43% return.

OAEM

• 1D: -6.19%
• 1M: 3.23%
• YTD: 32.44%
• 6M: 36.48%
• 1Y: 54.85%
• 3Y*: 20.22%
• 5Y*: —
• 10Y*: —

EMM

• 1D: -5.60%
• 1M: 4.22%
• YTD: 30.43%
• 6M: 33.87%
• 1Y: 55.00%
• 3Y*: 21.97%
• 5Y*: —
• 10Y*: —

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

OAEM vs. EMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OAEM OneAscent Emerging Markets ETF	32.44%	26.67%	0.43%	10.11%
EMM Global X Emerging Markets ex-China ETF	30.43%	30.21%	2.34%	2.99%

Correlation

The correlation between OAEM and EMM is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 15, 2023	0.85

The correlation between OAEM and EMM has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

Return for Risk

OAEM vs. EMM — Risk / Return Rank

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

OAEM

OAEM Risk / Return Rank: 74
OAEM Sharpe Ratio Rank: 75
OAEM Sortino Ratio Rank: 63
OAEM Omega Ratio Rank: 73
OAEM Calmar Ratio Rank: 79
OAEM Martin Ratio Rank: 81

EMM

EMM Risk / Return Rank: 76
EMM Sharpe Ratio Rank: 76
EMM Sortino Ratio Rank: 68
EMM Omega Ratio Rank: 76
EMM Calmar Ratio Rank: 77
EMM Martin Ratio Rank: 81

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.

OAEM vs. EMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OneAscent Emerging Markets ETF (OAEM) and Global X Emerging Markets ex-China ETF (EMM). 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.

	OAEM	EMM	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.26	-0.08
Sortino ratio: Return per unit of downside risk	2.69	2.87	-0.17
Omega ratio: Gain probability vs. loss probability	1.39	1.42	-0.02
Calmar ratio: Return relative to maximum drawdown	3.77	3.75	+0.02
Martin ratio: Return relative to average drawdown	14.95	15.03	-0.08

OAEM vs. EMM - Sharpe Ratio Comparison

The current OAEM Sharpe Ratio is 2.18, which is comparable to the EMM Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of OAEM and EMM, 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

OAEM vs. EMM - Drawdown Comparison

The maximum OAEM drawdown since its inception was -17.05%, smaller than the maximum EMM drawdown of -21.99%. Use the drawdown chart below to compare losses from any high point for OAEM and EMM.

Drawdown Indicators

	OAEM	EMM	Difference
Max Drawdown Largest peak-to-trough decline	-17.05%	-21.99%	+4.94%
Max Drawdown (1Y) Largest decline over 1 year	-14.63%	-14.75%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-17.05%	-21.99%	+4.94%
Current Drawdown Current decline from peak	-6.19%	-5.60%	-0.59%
Average Drawdown Average peak-to-trough decline	-3.85%	-4.67%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.67%	+0.01%

Volatility

OAEM vs. EMM - Volatility Comparison

OneAscent Emerging Markets ETF (OAEM) has a higher volatility of 13.79% compared to Global X Emerging Markets ex-China ETF (EMM) at 13.10%. This indicates that OAEM's price experiences larger fluctuations and is considered to be riskier than EMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OAEM	EMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.79%	13.10%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	23.31%	22.46%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	25.31%	24.51%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.41%	19.83%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.41%	19.83%	+0.58%

OAEM vs. EMM - Expense Ratio Comparison

OAEM has a 1.25% expense ratio, which is higher than EMM's 0.75% expense ratio.

Dividends

OAEM vs. EMM - Dividend Comparison

OAEM's dividend yield for the trailing twelve months is around 0.58%, less than EMM's 0.69% yield.

Position	TTM	2025	2024	2023	2022
EMM Global X Emerging Markets ex-China ETF	0.69%	0.90%	0.80%	0.66%	0.00%
OAEM OneAscent Emerging Markets ETF	0.58%	0.77%	0.91%	1.63%	0.04%

Frequently Asked Questions

Can I hold both OAEM and EMM in my portfolio?

OAEM and EMM have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OAEM or EMM?

OAEM has higher volatility (13.79%) compared to EMM (13.10%). In terms of maximum drawdown, OAEM dropped -17.05% vs EMM's -21.99%.

Which ETF is better, OAEM or EMM?

On 3-year performance, EMM leads with 21.97% vs 20.22% for OAEM. On fees, EMM is cheaper at 0.75% per year. On volatility, EMM has been the lower-risk option at 13.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OAEM or EMM?

Over the 3-year period, EMM has performed better with a 21.97% return vs 20.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OAEM or EMM?

EMM is cheaper with a 0.75% expense ratio, compared with 1.25% for OAEM.

Which ETF pays a higher dividend yield, OAEM or EMM?

EMM has the higher dividend yield at 0.69%, compared with 0.58% for OAEM.

What is the main difference between OAEM and EMM?

They also come from different issuers: Oneascent and Global X. Their fees differ too: 1.25% for OAEM and 0.75% for EMM.

Which has better risk-adjusted returns?

EMM currently has the higher Sharpe Ratio (2.25 vs 2.18), 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.