EMEQ vs SPY
Nomura Focused Emerging Markets Equity ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EMEQ delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | EMEQ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.86% | 0.09% | |
| AUM | $581M | $789.1B | |
| Dividend Yield | 1.55% | 1.01% | |
| Holdings | 60 | 505 | |
| YTD Return | +48.70% | +13.39% | |
| 1Y Return | +108.76% | +22.52% | |
| 3Y Return (annualized) | - | +21.36% | |
| 5Y Return (annualized) | - | +13.19% | |
| Volatility (annualized) | 34.2% | 15.3% | |
| Max Drawdown | -26.3% | -56.5% | |
| Fund Family | Macquarie Funds | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Sep 4, 2024 | Jan 22, 1993 |
EMEQ vs SPY Performance
Nomura Focused Emerging Markets Equity ETF (EMEQ) is a ETF from Macquarie Funds and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EMEQ returned +108.76% while SPY returned +22.52%. Year to date, EMEQ is up 48.70% versus a gain of 13.39% for SPY.
Risk: Volatility and Drawdowns
EMEQ has been the more volatile fund, with annualized monthly volatility of 34.2% compared with 15.3% 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 -26.3% for EMEQ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.60. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EMEQ charges 0.86% per year while SPY charges 0.09%. On a $10,000 position that is $86 vs $9 annually, a gap of $77 per year that compounds over a long holding period. On income, EMEQ currently yields 1.55% against 1.01% for SPY.
Holdings Overlap
EMEQ and SPY share 0 holdings out of 555 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, EMEQ or SPY?
EMEQ has an expense ratio of 0.86% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $77 per year of difference.
Which performed better, EMEQ or SPY?
Over the past year EMEQ returned +108.76% vs +22.52% for SPY, so EMEQ leads on 1-year performance. Over the longest common window we track (2 years), EMEQ annualized +64.20% vs +8.84% for SPY. Past performance does not guarantee future results.
Which is riskier, EMEQ or SPY?
EMEQ has been the more volatile fund at 34.2% annualized versus 15.3% for SPY. Worst drawdown: EMEQ -26.3% vs SPY -56.5%.
Should I hold both EMEQ and SPY?
EMEQ and SPY have a monthly-return correlation of 0.60, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EMEQ and SPY?
EMEQ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 555 unique securities.
Which pays a higher dividend, EMEQ or SPY?
EMEQ yields 1.55% while SPY yields 1.01%, so EMEQ currently pays the higher dividend yield.
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