SNOW vs. EMEQ

Last updated Jul 11, 2026

SNOW (Snowflake Inc.) is a stock, while EMEQ (Nomura Focused Emerging Markets Equity ETF) is Emerging Markets Diversified fund actively managed by Nomura. Over the past year, SNOW returned 24.00% vs 127.62% for EMEQ. At a 0.23 correlation, their price movements are largely independent.

Performance

SNOW vs. EMEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Snowflake Inc. (SNOW) and Nomura Focused Emerging Markets Equity ETF (EMEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SNOW achieves a 19.19% return, which is significantly lower than EMEQ's 70.04% return.

SNOW

• 1D: -2.26%
• 1M: 8.76%
• 6M: 19.33%
• YTD: 19.19%
• 1Y: 24.00%
• 3Y*: 14.97%
• 5Y*: -0.60%
• 10Y*: —

EMEQ

• 1D: 0.10%
• 1M: 0.76%
• 6M: 58.06%
• YTD: 70.04%
• 1Y: 127.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SNOW vs. EMEQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SNOW Snowflake Inc.	19.19%	42.06%	39.36%
EMEQ Nomura Focused Emerging Markets Equity ETF	70.04%	69.78%	-0.73%

Correlation

The correlation between SNOW and EMEQ is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024	0.23

Return for Risk

SNOW vs. EMEQ — Risk / Return Rank

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

SNOW

SNOW Risk / Return Rank: 58
SNOW Sharpe Ratio Rank: 57
SNOW Sortino Ratio Rank: 61
SNOW Omega Ratio Rank: 60
SNOW Calmar Ratio Rank: 55
SNOW Martin Ratio Rank: 55

EMEQ

EMEQ Risk / Return Rank: 94
EMEQ Sharpe Ratio Rank: 96
EMEQ Sortino Ratio Rank: 91
EMEQ Omega Ratio Rank: 93
EMEQ Calmar Ratio Rank: 96
EMEQ Martin Ratio Rank: 95

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.

SNOW vs. EMEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Snowflake Inc. (SNOW) and Nomura Focused Emerging Markets Equity ETF (EMEQ). 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.

	SNOW	EMEQ	Difference
Sharpe ratio: Return per unit of total volatility	0.33	3.27	-2.94
Sortino ratio: Return per unit of downside risk	1.07	3.47	-2.40
Omega ratio: Gain probability vs. loss probability	1.14	1.51	-0.38
Calmar ratio: Return relative to maximum drawdown	0.39	6.98	-6.59
Martin ratio: Return relative to average drawdown	0.84	23.27	-22.43

SNOW vs. EMEQ - Sharpe Ratio Comparison

The current SNOW Sharpe Ratio is 0.33, which is lower than the EMEQ Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of SNOW and EMEQ, 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

SNOW vs. EMEQ - Drawdown Comparison

The maximum SNOW drawdown since its inception was -72.99%, which is greater than EMEQ's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for SNOW and EMEQ.

Drawdown Indicators

	SNOW	EMEQ	Difference
Max Drawdown Largest peak-to-trough decline	-72.99%	-19.99%	-53.00%
Max Drawdown (1Y) Largest decline over 1 year	-56.30%	-17.91%	-38.39%
Max Drawdown (3Y) Largest decline over 3 years	-56.30%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-72.99%	—	—
Current Drawdown Current decline from peak	-34.94%	-12.48%	-22.46%
Average Drawdown Average peak-to-trough decline	-48.89%	-4.19%	-44.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.10%	5.36%	+20.74%

Volatility

SNOW vs. EMEQ - Volatility Comparison

The current volatility for Snowflake Inc. (SNOW) is 12.19%, while Nomura Focused Emerging Markets Equity ETF (EMEQ) has a volatility of 18.22%. This indicates that SNOW experiences smaller price fluctuations and is considered to be less risky than EMEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNOW	EMEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.19%	18.22%	-6.03%
Volatility (6M) Calculated over the trailing 6-month period	53.30%	35.48%	+17.82%
Volatility (1Y) Calculated over the trailing 1-year period	66.06%	38.20%	+27.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.97%	33.24%	+28.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	62.49%	33.24%	+29.25%

Dividends

SNOW vs. EMEQ - Dividend Comparison

SNOW has not paid dividends to shareholders, while EMEQ's dividend yield for the trailing twelve months is around 1.62%.

Position	TTM	2025	2024
EMEQ Nomura Focused Emerging Markets Equity ETF	1.62%	2.76%	0.84%
SNOW Snowflake Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SNOW and EMEQ in my portfolio?

SNOW and EMEQ have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SNOW or EMEQ?

EMEQ has higher volatility (18.22%) compared to SNOW (12.19%). In terms of maximum drawdown, SNOW dropped -72.99% vs EMEQ's -19.99%.

Which has better risk-adjusted returns?

EMEQ currently has the higher Sharpe Ratio (3.27 vs 0.33), 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.