EMXF vs SPY
iShares ESG Advanced MSCI EM ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. EMXF delivered stronger 1-year returns. EMXF offers more diversification with 650 holdings.
Side-by-Side Comparison
| Metric | EMXF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.17% | 0.09% | |
| AUM | $165M | $821.1B | |
| Dividend Yield | 2.81% | 1.01% | |
| Holdings | 650 | 505 | |
| YTD Return | +19.68% | +12.22% | |
| 1Y Return | +32.34% | +20.83% | |
| 3Y Return (annualized) | +22.88% | +21.70% | |
| 5Y Return (annualized) | +9.27% | +12.98% | |
| Volatility (annualized) | 16.4% | 15.3% | |
| Max Drawdown | -33.1% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 6, 2020 | Jan 22, 1993 |
EMXF vs SPY Performance
iShares ESG Advanced MSCI EM ETF (EMXF) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year EMXF returned +32.34% while SPY returned +20.83%. Year to date, EMXF is up 19.68% versus a gain of 12.22% for SPY.
Over three years, EMXF compounded at +22.88% per year against +21.70% for SPY; over five years the annualized figures are +9.27% and +12.98% respectively. Across the full 6-year window we track, EMXF has the edge at +10.96% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
EMXF has been the more volatile fund, with annualized monthly volatility of 16.4% 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 -33.1% for EMXF 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 0.66. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
EMXF charges 0.17% per year while SPY charges 0.09%. On a $10,000 position that is $17 vs $9 annually, a gap of $8 per year that compounds over a long holding period. On income, EMXF currently yields 2.81% against 1.01% for SPY.
Holdings Overlap
EMXF and SPY share 0 holdings out of 1077 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, EMXF or SPY?
EMXF has an expense ratio of 0.17% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $8 per year of difference.
Which performed better, EMXF or SPY?
Over the past year EMXF returned +32.34% vs +20.83% for SPY, so EMXF leads on 1-year performance. Over the longest common window we track (6 years), EMXF annualized +10.96% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, EMXF or SPY?
EMXF has been the more volatile fund at 16.4% annualized versus 15.3% for SPY. Worst drawdown: EMXF -33.1% vs SPY -56.5%.
Should I hold both EMXF and SPY?
EMXF and SPY have a monthly-return correlation of 0.66, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between EMXF and SPY?
EMXF and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1077 unique securities.
Which pays a higher dividend, EMXF or SPY?
EMXF yields 2.81% while SPY yields 1.01%, so EMXF currently pays the higher dividend yield.
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