EMSF vs SPY
Matthews Emerging Markets Sustainable Future Active ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, EMSF or SPY?
All Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. EMSF led over 1Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 49.7%.
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 | EMSF | SPY |
|---|---|---|
| Expense Ratio | 0.79% | 0.09%Best |
| AUM | $45M | $811.2B |
| Dividend Yield | 1.35% | 0.98% |
| Holdings | 58 | 1,515 |
| YTD Return | +33.35%Best | +14.79% |
| 1Y Return | +34.83%Best | +18.62% |
| 3Y Return (annualized) | +17.88% | +23.21%Best |
| 5Y Return (annualized) | - | +13.92% |
| Volatility (annualized) | 22.1% | 12.3%Best |
| Max Drawdown | -24.8% | -18.8%Best |
| $10,000 over 3.1 years | $16,304 | $18,917Best |
| Top 10 Weight | 49.7% | 38.2%Best |
| Fund Family | Matthews Asia Funds | State Street Investment Management |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | Sep 21, 2023 | Jan 22, 1993 |
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Sep 22, 2023 to Oct 12, 2026 (3.1 years).
EMSF 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 3.1 years both funds cover.
EMSF vs SPY Performance
Matthews Emerging Markets Sustainable Future Active ETF (EMSF) is an ETF from Matthews Asia Funds and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year EMSF returned +34.83% while SPY returned +18.62%. Year to date, EMSF is up 33.35% versus a gain of 14.79% for SPY.
Over three years, EMSF compounded at +17.88% per year against +23.21% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMSF has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 12.3% 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 -24.8% for EMSF and -18.8% 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 0.56. They move together some of the time, and apart the rest.
Fees and Cost Over Time
EMSF charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, EMSF currently yields 1.35% against 0.98% for SPY.
Holdings Overlap
1.6% of EMSF's money is in holdings SPY also owns. 0.5% of SPY's money is in holdings EMSF also owns.
EMSF and SPY share little of their money.
1 positions in common, counted across the 57 positions we hold weights for in EMSF and 504 in SPY, against full books of 58 and 1,515.
What only one of them owns
Our book lists 496 positions for SPY that do not appear in our book for EMSF (98.7% of the fund), and 3 for EMSF that do not appear in SPY (10.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in EMSF | Weight in SPY | Difference |
|---|---|---|---|
| LRCXLam Research Corp | 1.56% | 0.52% | 1.04% |
You are not choosing between two funds in isolation.
Whichever of EMSF 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, EMSF or SPY?
EMSF has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option, by $70 a year on a $10,000 investment.
Which performed better, EMSF or SPY?
Over the past year EMSF returned +34.83% vs +18.62% for SPY, so EMSF leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, EMSF or SPY?
EMSF has been the more volatile fund at 22.1% annualized versus 12.3% for SPY. Worst drawdown: EMSF -24.8% vs SPY -18.8%.
Should I hold both EMSF and SPY?
EMSF and SPY have a monthly-return correlation of 0.56, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between EMSF and SPY?
1.6% of EMSF's money is in holdings SPY also owns. 0.5% of SPY's is in holdings EMSF also owns. They hold 1 positions in common, counted across the 57 positions we hold weights for in EMSF and 504 in SPY.
Which pays a higher dividend, EMSF or SPY?
EMSF yields 1.35% while SPY yields 0.98%, so EMSF currently pays the higher dividend yield.
Is SPY better than EMSF?
SPY has a lower expense ratio. EMSF led over 1Y, SPY over 3Y and the full window. SPY is less concentrated, with 38.2% of the fund in its ten largest positions against 49.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.