UAE vs. TMAT
UAE (iShares MSCI UAE ETF) and TMAT (Main Thematic Innovation ETF) are both exchange-traded funds - UAE is a Emerging Markets Equities fund tracking the MSCI All UAE Capped Index, while TMAT is a Technology Equities fund tracking the MSCI ACWI Index. Both are passively managed. Over the past 5 years, UAE returned 10.15%/yr vs 3.99%/yr for TMAT. Their 0.30 correlation means their historical movements had little consistent relationship. UAE charges 0.59%/yr vs 1.49%/yr for TMAT.
Performance
UAE vs. TMAT - Performance Comparison
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Returns By Period
In the year-to-date period, UAE achieves a 2.47% return, which is significantly lower than TMAT's 10.76% return.
UAE
- 1D
- -1.92%
- 1M
- -0.47%
- 6M
- -4.38%
- YTD
- 2.47%
- 1Y
- -0.83%
- 3Y*
- 11.70%
- 5Y*
- 10.15%
- 10Y*
- 5.28%
- ALL TIME*
- 1.69%
TMAT
- 1D
- 0.37%
- 1M
- -6.20%
- 6M
- 13.39%
- YTD
- 10.76%
- 1Y
- 15.71%
- 3Y*
- 20.08%
- 5Y*
- 3.99%
- 10Y*
- —
- ALL TIME*
- 1.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.50M | $963.02K | $629.65K | |
| $2.90M | $3.37M | $6.41M |
UAE vs. TMAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
UAE iShares MSCI UAE ETF | 2.47% | 21.35% | 15.25% | 2.91% | -5.36% | 29.56% |
TMAT Main Thematic Innovation ETF | 10.76% | 20.06% | 27.20% | 32.32% | -39.29% | -18.01% |
Correlation
The correlation between UAE and TMAT is 0.33, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.33 |
Correlation (3Y) Balances recent behavior with more history. | 0.34 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2021 | 0.30 |
UAE vs. TMAT - Sectors Allocation Comparison
Sectors
UAE
TMAT
Financial Services
Real Estate
-
Industrials
Communication Services
Energy
Consumer Cyclical
Utilities
Consumer Defensive
-
Technology
Basic Materials
Healthcare
-
Financial Services
UAE
TMAT
Real Estate
UAE
TMAT
-
Industrials
UAE
TMAT
Communication Services
UAE
TMAT
Energy
UAE
TMAT
Consumer Cyclical
UAE
TMAT
Utilities
UAE
TMAT
Consumer Defensive
UAE
TMAT
-
Technology
UAE
TMAT
Basic Materials
UAE
TMAT
Healthcare
UAE
-
TMAT
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Return for Risk
UAE vs. TMAT — Risk / Return Rank
UAE
TMAT
UAE vs. TMAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI UAE ETF (UAE) and Main Thematic Innovation ETF (TMAT). 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.
| UAE | TMAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.09 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 0.57 | -0.63 |
| Martin ratioReturn relative to average drawdown | -0.14 | 1.28 | -1.42 |
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Drawdowns
UAE vs. TMAT - Drawdown Comparison
The maximum UAE drawdown since its inception was -60.49%, roughly equal to the maximum TMAT drawdown of -58.55%. Use the drawdown chart below to compare losses from any high point for UAE and TMAT.
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Drawdown Indicators
| UAE | TMAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.49% | -58.55% | -1.94% |
Max Drawdown (1Y)Largest decline over 1 year | -21.50% | -21.63% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -21.50% | -33.42% | +11.92% |
Max Drawdown (5Y)Largest decline over 5 years | -27.47% | -51.86% | +24.39% |
Max Drawdown (10Y)Largest decline over 10 years | -49.71% | — | — |
Current DrawdownCurrent decline from peak | -11.87% | -11.87% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -23.74% | -31.45% | +7.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.43% | 9.69% | -0.26% |
Volatility
UAE vs. TMAT - Volatility Comparison
The current volatility for iShares MSCI UAE ETF (UAE) is 5.63%, while Main Thematic Innovation ETF (TMAT) has a volatility of 9.84%. This indicates that UAE experiences smaller price fluctuations and is considered to be less risky than TMAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| UAE | TMAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.63% | 9.84% | -4.21% |
Volatility (6M)Calculated over the trailing 6-month period | 20.94% | 21.23% | -0.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.12% | 27.49% | -4.37% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.25% | 31.10% | -11.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.65% | 30.83% | -11.18% |
UAE vs. TMAT - Expense Ratio Comparison
UAE has a 0.59% expense ratio, which is lower than TMAT's 1.49% expense ratio.
Dividends
UAE vs. TMAT - Dividend Comparison
UAE's dividend yield for the trailing twelve months is around 4.50%, more than TMAT's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TMAT Main Thematic Innovation ETF | 0.02% | 0.02% | 0.00% | 0.00% | 0.34% | 0.20% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
UAE iShares MSCI UAE ETF | 4.50% | 4.10% | 3.32% | 3.25% | 2.67% | 4.88% | 4.75% | 3.54% | 5.56% | 3.38% | 4.74% | 3.77% |
Frequently Asked Questions
UAE and TMAT have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TMAT has higher volatility (9.84%) compared to UAE (5.63%). In terms of maximum drawdown, UAE dropped -60.49% vs TMAT's -58.55%.
On 5-year performance, UAE leads with 10.15% vs 3.99% for TMAT. On fees, UAE is cheaper at 0.59% per year. On volatility, UAE has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UAE has performed better with a 10.15% return vs 3.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UAE is cheaper with a 0.59% expense ratio, compared with 1.49% for TMAT.
UAE has the higher dividend yield at 4.50%, compared with 0.02% for TMAT.
UAE is categorized as Emerging Markets Equities, while TMAT is Technology Equities. UAE tracks MSCI All UAE Capped Index, while TMAT tracks MSCI ACWI Index. They also come from different issuers: iShares and Main. Their fees differ too: 0.59% for UAE and 1.49% for TMAT.
TMAT currently has the higher Sharpe Ratio (0.45 vs -0.06), 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.
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