EEM vs SPY
Comparison between ISHARES MSCI EMERGING MARKETS ETF (EEM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed EEM, delivering a return of +13.3% compared to +6.9%
EEM vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
EEM
$25B
Winner
SPY
$652B
Expense Ratio
EEM
0.72%
Winner
SPY
0.09%
Max Drawdown
EEM
67.23%
Winner
SPY
56.47%
Sharpe Ratio
Winner
EEM
2.27
SPY
2.07
5Y Beta
Winner
EEM
0.79
SPY
1.00
P/E Ratio
EEM
N/A
SPY
28.24
Forward P/E
EEM
N/A
SPY
21.85
5Y Dividends CAGR
EEM
2.97%
Winner
SPY
5.43%
5Y EPS CAGR
EEM
N/A
SPY
25.79%
Debt to Equity
EEM
N/A
SPY
22.35%
P/S Ratio
EEM
N/A
SPY
3.55
P/B Ratio
EEM
N/A
SPY
5.29
EEM vs SPY - Holdings Comparison
EEM and SPY have 1 common holdings. Overlap is -0.29%
EEM's top 25 holdings weight is 40.83%. SPY's top 25 holdings weight is 51.32%.
| Rank | EEM | SPY |
|---|---|---|
| #1 | n/a (n/a) - 13.41% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | SAMSUNG ELECTRONICS CO LTD (n/a) - 5.61% | APPLE INC (AAPL) - 6.48% |
| #3 | TENCENT HOLDINGS LTD (n/a) - 3.79% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | SK HYNIX INC (n/a) - 3.04% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | n/a (n/a) - 2.52% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | CHINA CONSTRUCTION BANK CORP CLASS H (n/a) - 0.97% | BROADCOM INC (AVGO) - 3.09% |
| #7 | DELTA ELECTRONICS INC (n/a) - 0.84% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | HDFC BANK LTD (n/a) - 0.84% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | RELIANCE INDUSTRIES LTD (n/a) - 0.82% | TESLA INC (TSLA) - 1.73% |
| #10 | HON HAI PRECISION INDUSTRY CO LTD (n/a) - 0.73% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | PDD HOLDINGS INC ADR (PDD) - 0.68% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | MEDIATEK INC (n/a) - 0.66% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | XIAOMI CORP CLASS B (n/a) - 0.66% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | n/a (n/a) - 0.65% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | ICICI BANK LTD (n/a) - 0.64% | WALMART INC (WMT) - 0.91% |
| #16 | n/a (n/a) - 0.58% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | VALE SA (n/a) - 0.55% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | n/a (n/a) - 0.54% | VISA INC CLASS A (V) - 0.85% |
| #19 | AL RAJHI BANK (n/a) - 0.52% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | MEITUAN CLASS B (n/a) - 0.49% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | ANGLOGOLD ASHANTI PLC (AU) - 0.49% | INTEL CORP (INTC) - 0.65% |
| #22 | BYD CO LTD CLASS H (n/a) - 0.46% | NETFLIX INC (NFLX) - 0.64% |
| #23 | NU HOLDINGS LTD ORDINARY SHARES CLASS A (NU) - 0.46% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | BHARTI AIRTEL LTD (n/a) - 0.45% | CHEVRON CORP (CVX) - 0.58% |
| #25 | BANK OF CHINA LTD CLASS H (n/a) - 0.43% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 1250 | 505 |
EEM vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
EEM
+12.41%
SPY
+9.11%
3M
Winner
EEM
+12.28%
SPY
+6.59%
6M
Winner
EEM
+26.34%
SPY
+10.56%
1Y
Winner
EEM
+55.97%
SPY
+32.04%
5Y(CAGR)
EEM
+6.91%
Winner
SPY
+13.35%
10Y(CAGR)
EEM
+10.11%
Winner
SPY
+15.49%
Max(CAGR)
Winner
EEM
+10.19%
SPY
+8.50%
EEM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | EEM | SPY |
|---|---|---|
| 2026 | +20.80% | +8.27% |
| 2025 | +34.17% | +18.00% |
| 2024 | +7.76% | +25.59% |
| 2023 | +8.08% | +26.72% |
| 2022 | -21.12% | -18.64% |
| 2021 | -4.23% | +30.52% |
| 2020 | +14.71% | +17.28% |
| 2019 | +17.90% | +31.09% |
| 2018 | -16.88% | -5.24% |
| 2017 | +35.65% | +20.78% |
| 2016 | +13.99% | +13.59% |
| 2015 | -15.06% | +1.31% |
| 2014 | -0.08% | +14.56% |
| 2013 | -5.57% | +29.00% |
| 2012 | +15.57% | +14.17% |
| 2011 | -19.59% | +0.85% |
| 2010 | +13.21% | +13.14% |
| 2009 | +61.25% | +22.67% |
| 2008 | -48.03% | -36.25% |
| 2007 | +32.18% | +5.32% |
| 2006 | +26.46% | +13.85% |
| 2005 | +34.01% | +5.32% |
| 2004 | +21.91% | +10.75% |
| 2003 | +63.14% | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
EEM vs SPY Drawdown Comparison
The maximum drawdown for EEM was -66.45%, occurring on Nov 20, 2008. Recovery took 2488 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
| Rank | EEM | SPY |
|---|---|---|
| #1 | -66.45% Oct 31, 2007 - Sep 19, 2017 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -39.80% Feb 17, 2021 - Sep 11, 2025 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -38.22% Jan 26, 2018 - Nov 24, 2020 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -26.24% May 9, 2006 - Dec 4, 2006 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -21.38% Apr 12, 2004 - Nov 4, 2004 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -17.73% Jul 23, 2007 - Sep 21, 2007 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -13.52% Feb 25, 2026 - Apr 17, 2026 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -12.02% Oct 3, 2005 - Dec 1, 2005 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -11.97% Mar 7, 2005 - Jul 12, 2005 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -11.25% Feb 21, 2007 - Apr 3, 2007 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -8.02% Jan 31, 2006 - Apr 3, 2006 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -7.27% Mar 1, 2004 - Apr 2, 2004 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -5.94% Jan 3, 2007 - Jan 24, 2007 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -5.72% Aug 10, 2005 - Sep 6, 2005 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -5.42% Dec 31, 2004 - Feb 1, 2005 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between EEM and SPY is 0.81 which considered as a strong positive correlation - the stocks tend to move together.
0.81
-101
Dividend Comparison (1999 - 2026)
EEM vs SPY dividend yield comparison.
| Year | EEM | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 2.22% | 1.07% |
| 2024 | 2.43% | 1.21% |
| 2023 | 2.63% | 1.40% |
| 2022 | 2.50% | 1.65% |
| 2021 | 1.99% | 1.20% |
| 2020 | 1.45% | 1.52% |
| 2019 | 2.76% | 1.75% |
| 2018 | 2.24% | 2.04% |
| 2017 | 1.88% | 1.80% |
| 2016 | 1.89% | 2.03% |
| 2015 | 2.49% | 2.06% |
| 2014 | 2.23% | 1.87% |
| 2013 | 2.05% | 1.81% |
| 2012 | 1.68% | 2.18% |
| 2011 | 2.13% | 2.05% |
| 2010 | 1.36% | 1.80% |
| 2009 | 1.40% | 1.95% |
| 2008 | 3.43% | 3.02% |
| 2007 | 1.30% | 1.85% |
| 2006 | 1.38% | 1.73% |
| 2005 | 1.12% | 1.73% |
| 2004 | 1.20% | 1.82% |
| 2003 | 0.50% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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