EEMX vs SPY
State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EEMX or SPY?
Each has led over a different period.
SPY has a lower expense ratio. EEMX led over 1Y and 3Y, SPY over 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | EEMX | SPY |
|---|---|---|
| Expense Ratio | 0.30% | 0.09%Best |
| AUM | $187M | $814.4B |
| Dividend Yield | 1.86% | 1.01% |
| Holdings | 1,070 | 505 |
| YTD Return | +24.20%Best | +13.34% |
| 1Y Return | +42.11%Best | +19.97% |
| 3Y Return (annualized) | +24.36%Best | +21.20% |
| 5Y Return (annualized) | +8.54% | +12.81%Best |
| Volatility (annualized) | 17.4% | 15.4%Best |
| Max Drawdown | -39.9% | -34.1%Best |
| $10,000 over 5 years | $15,064 | $18,270Best |
| Fund Family | SPDR State Street Global Advisors | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Oct 24, 2016 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Oct 25, 2016 to Sep 4, 2026 (9.9 years).
EEMX vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 9.9 years both funds cover.
EEMX vs SPY Performance
State Street SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF (EEMX) is an ETF from SPDR State Street Global Advisors and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EEMX returned +42.11% while SPY returned +19.97%. Year to date, EEMX is up 24.20% versus a gain of 13.34% for SPY.
Over three years, EEMX compounded at +24.36% per year against +21.20% for SPY; over five years the annualized figures are +8.54% and +12.81% respectively. Across the full 10-year window we track, SPY has the edge at +14.72% annualized vs +8.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EEMX has been the more volatile fund, with annualized monthly volatility of 17.4% compared with 15.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -39.9% for EEMX and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.67. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EEMX charges 0.30% per year while SPY charges 0.09%. On a $10,000 position that is $30 vs $9 annually, a gap of $21 per year that compounds over a long holding period. On income, EEMX currently yields 1.86% against 1.01% for SPY.
Holdings Overlap
We hold position weights for 1,011 holdings in EEMX and 504 in SPY, totalling 91.5% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 126 days apart, EEMX as of Mar 31, 2026 and SPY as of Aug 4, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 1,011 positions we hold weights for in EEMX and 504 in SPY, against full books of 1,070 and 505.
You are not choosing between two funds in isolation.
Whichever of EEMX and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, EEMX or SPY?
EEMX has an expense ratio of 0.30% while SPY charges 0.09%. SPY is the cheaper option, by $21 a year on a $10,000 investment.
Which performed better, EEMX or SPY?
Over the past year EEMX returned +42.11% vs +19.97% for SPY, so EEMX leads on 1-year performance. Over the longest common window we track (10 years), EEMX annualized +8.12% vs +14.72% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EEMX or SPY?
EEMX has been the more volatile fund at 17.4% annualized versus 15.4% for SPY. Worst drawdown: EEMX -39.9% vs SPY -34.1%.
Should I hold both EEMX and SPY?
EEMX and SPY have a monthly-return correlation of 0.67, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, EEMX or SPY?
EEMX yields 1.86% while SPY yields 1.01%, so EEMX currently pays the higher dividend yield.
Is SPY better than EEMX?
SPY has a lower expense ratio. EEMX led over 1Y and 3Y, SPY over 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.