QEMM vs. KEMQ

Last updated Jun 24, 2026

QEMM (SPDR MSCI Emerging Markets StrategicFactors ETF) and KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) are both Emerging Markets Equities funds - QEMM tracks the MSCI EM Factor Mix A-Series (USD) while KEMQ tracks the Solactive Emerging Markets Consumer Technology Index. Both are passively managed. Over the past 5 years, QEMM returned 7.03%/yr vs -4.14%/yr for KEMQ. Their correlation of 0.81 suggests significant overlap in exposure. QEMM charges 0.30%/yr vs 0.60%/yr for KEMQ.

Performance

QEMM vs. KEMQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QEMM achieves a 21.11% return, which is significantly higher than KEMQ's 2.13% return.

QEMM

• 1D: -3.77%
• 1M: 1.15%
• YTD: 21.11%
• 6M: 21.59%
• 1Y: 35.60%
• 3Y*: 18.42%
• 5Y*: 7.03%
• 10Y*: 8.86%

KEMQ

• 1D: -3.77%
• 1M: 1.99%
• YTD: 2.13%
• 6M: 2.85%
• 1Y: 21.94%
• 3Y*: 22.94%
• 5Y*: -4.14%
• 10Y*: —

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

QEMM vs. KEMQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF	21.11%	21.92%	4.98%	12.50%	-17.82%	6.34%	9.95%	15.40%	-13.33%	4.52%
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	2.13%	56.28%	13.81%	0.77%	-38.09%	-27.31%	39.26%	28.26%	-25.52%	1.43%

Correlation

The correlation between QEMM and KEMQ is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 12, 2017	0.81

The correlation between QEMM and KEMQ has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.

QEMM vs. KEMQ - Sectors Allocation Comparison

Sectors	QEMM	KEMQ
Technology	25.2%	39.1%
Financial Services	13.1%	2.5%
Consumer Cyclical	4.8%	30.6%
Basic Materials	3.0%	-
Communication Services	2.4%	20.2%
Energy	2.4%	-
Consumer Defensive	2.1%	3.3%
Industrials	1.8%	2.1%
Utilities	1.5%	-
Healthcare	0.9%	3.3%
Real Estate	0.6%	-

Return for Risk

QEMM vs. KEMQ — Risk / Return Rank

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

QEMM

QEMM Risk / Return Rank: 66
QEMM Sharpe Ratio Rank: 63
QEMM Sortino Ratio Rank: 58
QEMM Omega Ratio Rank: 67
QEMM Calmar Ratio Rank: 72
QEMM Martin Ratio Rank: 70

KEMQ

KEMQ Risk / Return Rank: 23
KEMQ Sharpe Ratio Rank: 24
KEMQ Sortino Ratio Rank: 24
KEMQ Omega Ratio Rank: 24
KEMQ Calmar Ratio Rank: 22
KEMQ Martin Ratio Rank: 22

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. KEMQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) and KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ). 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.

	QEMM	KEMQ	Difference
Sharpe ratio: Return per unit of total volatility	1.94	0.81	+1.13
Sortino ratio: Return per unit of downside risk	2.57	1.25	+1.33
Omega ratio: Gain probability vs. loss probability	1.37	1.16	+0.21
Calmar ratio: Return relative to maximum drawdown	3.44	1.00	+2.43
Martin ratio: Return relative to average drawdown	12.14	2.59	+9.55

QEMM vs. KEMQ - Sharpe Ratio Comparison

The current QEMM Sharpe Ratio is 1.94, which is higher than the KEMQ Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of QEMM and KEMQ, 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

QEMM vs. KEMQ - Drawdown Comparison

The maximum QEMM drawdown since its inception was -36.89%, smaller than the maximum KEMQ drawdown of -70.72%. Use the drawdown chart below to compare losses from any high point for QEMM and KEMQ.

Drawdown Indicators

	QEMM	KEMQ	Difference
Max Drawdown Largest peak-to-trough decline	-36.89%	-70.72%	+33.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-21.94%	+11.54%
Max Drawdown (3Y) Largest decline over 3 years	-17.03%	-21.94%	+4.91%
Max Drawdown (5Y) Largest decline over 5 years	-27.19%	-66.02%	+38.83%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	—	—
Current Drawdown Current decline from peak	-4.06%	-31.41%	+27.35%
Average Drawdown Average peak-to-trough decline	-10.60%	-35.64%	+25.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	8.49%	-5.55%

Volatility

QEMM vs. KEMQ - Volatility Comparison

The current volatility for SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) is 9.31%, while KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a volatility of 11.75%. This indicates that QEMM experiences smaller price fluctuations and is considered to be less risky than KEMQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QEMM	KEMQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	11.75%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	16.80%	22.87%	-6.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.46%	27.40%	-8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	32.15%	-16.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	29.67%	-12.69%

QEMM vs. KEMQ - Expense Ratio Comparison

QEMM has a 0.30% expense ratio, which is lower than KEMQ's 0.60% expense ratio.

Dividends

QEMM vs. KEMQ - Dividend Comparison

QEMM's dividend yield for the trailing twelve months is around 4.46%, less than KEMQ's 5.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	5.16%	5.27%	0.73%	0.29%	0.00%	0.28%	2.28%	1.76%	0.00%	0.00%	0.00%	0.00%
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF	4.46%	4.90%	5.17%	4.88%	4.07%	2.35%	2.48%	3.05%	2.86%	2.11%	2.03%	2.14%

Frequently Asked Questions

Can I hold both QEMM and KEMQ in my portfolio?

QEMM and KEMQ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QEMM or KEMQ?

KEMQ has higher volatility (11.75%) compared to QEMM (9.31%). In terms of maximum drawdown, QEMM dropped -36.89% vs KEMQ's -70.72%.

Which ETF is better, QEMM or KEMQ?

On 5-year performance, QEMM leads with 7.03% vs -4.14% for KEMQ. On fees, QEMM is cheaper at 0.30% per year. On volatility, QEMM has been the lower-risk option at 9.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QEMM or KEMQ?

Over the 5-year period, QEMM has performed better with a 7.03% return vs -4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QEMM or KEMQ?

QEMM is cheaper with a 0.30% expense ratio, compared with 0.60% for KEMQ.

Which ETF pays a higher dividend yield, QEMM or KEMQ?

KEMQ has the higher dividend yield at 5.16%, compared with 4.46% for QEMM.

What is the main difference between QEMM and KEMQ?

QEMM tracks MSCI EM Factor Mix A-Series (USD), while KEMQ tracks Solactive Emerging Markets Consumer Technology Index. They also come from different issuers: State Street and CICC. Their fees differ too: 0.30% for QEMM and 0.60% for KEMQ.

Which has better risk-adjusted returns?

QEMM currently has the higher Sharpe Ratio (1.94 vs 0.81), 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.