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WEMG.AX vs. SSO.AX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

WEMG.AX vs. SSO.AX

Last updated Jul 16, 2026
Documentation

WEMG.AX (SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF) and SSO.AX (SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF) are both exchange-traded funds - WEMG.AX is a Emerging Markets Equities fund tracking the SPDR Index, while SSO.AX is a Small Cap Blend Equities fund tracking the SPDR Index. Both are passively managed. Over the past 10 years, WEMG.AX returned 8.90%/yr vs 7.85%/yr for SSO.AX. At a 0.24 correlation, their price movements are largely independent.

Performance

WEMG.AX vs. SSO.AX - Performance Comparison

The chart below illustrates the hypothetical performance of a A$10,000 investment in SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX) and SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF (SSO.AX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, WEMG.AX achieves a 6.00% return, which is significantly higher than SSO.AX's -9.80% return. Over the past 10 years, WEMG.AX has outperformed SSO.AX with an annualized return of 8.90%, while SSO.AX has yielded a comparatively lower 7.85% annualized return.

WEMG.AX

1D
0.35%
1M
0.27%
6M
0.76%
YTD
6.00%
1Y
15.90%
3Y*
15.82%
5Y*
6.49%
10Y*
8.90%

SSO.AX

1D
0.00%
1M
-4.97%
6M
-13.44%
YTD
-9.80%
1Y
4.70%
3Y*
7.77%
5Y*
4.37%
10Y*
7.85%
*Multi-year figures are annualized to reflect compound growth (CAGR)

WEMG.AX vs. SSO.AX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
WEMG.AX
SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF		6.00%17.52%25.30%5.67%-13.15%3.67%4.15%20.19%-2.72%24.77%
SSO.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF		-9.80%23.90%8.71%9.87%-11.94%21.40%9.60%23.76%-8.69%23.25%

Correlation

The correlation between WEMG.AX and SSO.AX is 0.50, 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

0.50

Correlation (3Y)
Calculated over the trailing 3-year period

0.33

Correlation (5Y)
Calculated over the trailing 5-year period

0.32

Correlation (10Y)
Calculated over the trailing 10-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Nov 1, 2013

0.24

Over the past year, WEMG.AX and SSO.AX have become more correlated (0.50) than their long-term average of 0.24, meaning their price movements have been converging.

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SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF

SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF

Return for Risk

WEMG.AX vs. SSO.AX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
WEMG.AX
WEMG.AX Risk / Return Rank: 3030
Overall Rank
WEMG.AX Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
WEMG.AX Sortino Ratio Rank: 3131
Sortino Ratio Rank
WEMG.AX Omega Ratio Rank: 3131
Omega Ratio Rank
WEMG.AX Calmar Ratio Rank: 2626
Calmar Ratio Rank
WEMG.AX Martin Ratio Rank: 3030
Martin Ratio Rank
SSO.AX
SSO.AX Risk / Return Rank: 1313
Overall Rank
SSO.AX Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
SSO.AX Sortino Ratio Rank: 1313
Sortino Ratio Rank
SSO.AX Omega Ratio Rank: 1313
Omega Ratio Rank
SSO.AX Calmar Ratio Rank: 1212
Calmar Ratio Rank
SSO.AX Martin Ratio Rank: 1212
Martin Ratio Rank
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.

WEMG.AX vs. SSO.AX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX) and SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF (SSO.AX). 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.

WEMG.AXSSO.AXDifference
Sharpe ratioReturn per unit of total volatility
0.95
0.25

+0.69

Sortino ratioReturn per unit of downside risk
1.41
0.48

+0.93

Omega ratioGain probability vs. loss probability

1.18

1.06

+0.12

Calmar ratioReturn relative to maximum drawdown

1.06

0.25

+0.81

Martin ratioReturn relative to average drawdown

3.38

0.53

+2.85

WEMG.AX vs. SSO.AX - Sharpe Ratio Comparison

The current WEMG.AX Sharpe Ratio is 0.95, which is higher than the SSO.AX Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of WEMG.AX and SSO.AX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

WEMG.AX vs. SSO.AX - Drawdown Comparison

The maximum WEMG.AX drawdown since its inception was -25.33%, smaller than the maximum SSO.AX drawdown of -40.39%. Use the drawdown chart below to compare losses from any high point for WEMG.AX and SSO.AX.

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Drawdown Indicators

WEMG.AXSSO.AXDifference

Max Drawdown

Largest peak-to-trough decline

-25.33%

-40.39%

+15.06%

Max Drawdown (1Y)

Largest decline over 1 year

-12.68%

-18.32%

+5.64%

Max Drawdown (3Y)

Largest decline over 3 years

-12.68%

-18.32%

+5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-22.11%

-25.96%

+3.85%

Max Drawdown (10Y)

Largest decline over 10 years

-24.15%

-40.39%

+16.24%

Current Drawdown

Current decline from peak

-1.06%

-14.78%

+13.72%

Average Drawdown

Average peak-to-trough decline

-7.37%

-9.65%

+2.28%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.00%

8.71%

-4.71%

Volatility

WEMG.AX vs. SSO.AX - Volatility Comparison

SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF (WEMG.AX) has a higher volatility of 6.02% compared to SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF (SSO.AX) at 3.67%. This indicates that WEMG.AX's price experiences larger fluctuations and is considered to be riskier than SSO.AX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

WEMG.AXSSO.AXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.02%

3.67%

+2.35%

Volatility (6M)

Calculated over the trailing 6-month period

12.25%

14.87%

-2.62%

Volatility (1Y)

Calculated over the trailing 1-year period

14.28%

18.23%

-3.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.32%

17.12%

-2.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.78%

16.82%

-2.04%

Dividends

WEMG.AX vs. SSO.AX - Dividend Comparison

WEMG.AX's dividend yield for the trailing twelve months is around 7.16%, less than SSO.AX's 9.32% yield.

PositionTTM20252024202320222021202020192018201720162015
SSO.AX
SPDR ETFs Australia - State Street SPDR S&P/ASX Small Ordinaries ETF		9.32%2.90%2.66%3.67%22.03%10.96%2.32%4.06%4.10%4.67%2.51%3.85%
WEMG.AX
SPDR ETFs Australia - State Street SPDR S&P Emerging Markets Carbon Aware ETF		7.16%3.46%1.91%2.64%2.86%2.19%2.38%2.36%2.53%1.29%2.19%2.02%

Frequently Asked Questions

WEMG.AX and SSO.AX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WEMG.AX is categorized as Emerging Markets Equities, while SSO.AX is Small Cap Blend Equities. Both ETFs track SPDR Index.

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