QEMM vs. GEME

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME).

QEMM and GEME are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. QEMM is a passively managed fund by State Street that tracks the performance of the MSCI EM Factor Mix A-Series (USD). It was launched on Jun 4, 2014. GEME is an actively managed fund by Pacific AM. It was launched on Jan 22, 2025.

Performance

QEMM vs. GEME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). The values are adjusted to include any dividend payments, if applicable.

QEMM vs. GEME - Yearly Performance Comparison

	2026 (YTD)	2025
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF	4.84%	20.16%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	8.22%	37.35%

Returns By Period

In the year-to-date period, QEMM achieves a 4.84% return, which is significantly lower than GEME's 8.22% return.

QEMM

• 1D: 2.95%
• 1M: -6.92%
• YTD: 4.84%
• 6M: 8.64%
• 1Y: 26.47%
• 3Y*: 13.21%
• 5Y*: 4.75%
• 10Y*: 7.09%

GEME

• 1D: 3.20%
• 1M: -10.02%
• YTD: 8.22%
• 6M: 16.66%
• 1Y: 44.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

QEMM vs. GEME - Expense Ratio Comparison

QEMM has a 0.30% expense ratio, which is lower than GEME's 0.75% expense ratio.

GEME

Pacific North of South Global Emerging Markets Equity Active ETF

QEMM

SPDR MSCI Emerging Markets StrategicFactors ETF

Return for Risk

QEMM vs. GEME — Risk / Return Rank

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

QEMM

QEMM Risk / Return Rank: 82
QEMM Sharpe Ratio Rank: 81
QEMM Sortino Ratio Rank: 82
QEMM Omega Ratio Rank: 81
QEMM Calmar Ratio Rank: 85
QEMM Martin Ratio Rank: 83

GEME

GEME Risk / Return Rank: 90
GEME Sharpe Ratio Rank: 89
GEME Sortino Ratio Rank: 89
GEME Omega Ratio Rank: 90
GEME Calmar Ratio Rank: 90
GEME Martin Ratio Rank: 90

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.

QEMM vs. GEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) and Pacific North of South Global Emerging Markets Equity Active ETF (GEME). 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.

	QEMM	GEME	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.97	-0.42
Sortino ratio Return per unit of downside risk	2.16	2.53	-0.37
Omega ratio Gain probability vs. loss probability	1.31	1.39	-0.08
Calmar ratio Return relative to maximum drawdown	2.56	3.12	-0.56
Martin ratio Return relative to average drawdown	9.33	12.31	-2.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QEMM vs. GEME - Sharpe Ratio Comparison

The current QEMM Sharpe Ratio is 1.54, which is comparable to the GEME Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of QEMM and GEME, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QEMM	GEME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.97	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.79	-1.54

Correlation

The correlation between QEMM and GEME is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

QEMM vs. GEME - Dividend Comparison

QEMM's dividend yield for the trailing twelve months is around 4.67%, less than GEME's 6.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF	4.67%	4.90%	5.17%	4.88%	4.07%	2.35%	2.48%	3.05%	2.86%	2.11%	2.03%	2.14%
GEME Pacific North of South Global Emerging Markets Equity Active ETF	6.48%	7.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

QEMM vs. GEME - Drawdown Comparison

The maximum QEMM drawdown since its inception was -36.89%, which is greater than GEME's maximum drawdown of -16.86%. Use the drawdown chart below to compare losses from any high point for QEMM and GEME.

Drawdown Indicators

	QEMM	GEME	Difference
Max Drawdown Largest peak-to-trough decline	-36.89%	-16.86%	-20.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-14.21%	+3.81%
Max Drawdown (5Y) Largest decline over 5 years	-27.55%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	—	—
Current Drawdown Current decline from peak	-7.76%	-10.68%	+2.92%
Average Drawdown Average peak-to-trough decline	-10.77%	-2.26%	-8.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	3.60%	-0.75%

Volatility

QEMM vs. GEME - Volatility Comparison

The current volatility for SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) is 9.11%, while Pacific North of South Global Emerging Markets Equity Active ETF (GEME) has a volatility of 11.17%. This indicates that QEMM experiences smaller price fluctuations and is considered to be less risky than GEME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QEMM	GEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.11%	11.17%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	12.57%	16.23%	-3.66%
Volatility (1Y) Calculated over the trailing 1-year period	17.21%	22.67%	-5.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	22.32%	-7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.73%	22.32%	-5.59%