GRF vs QEMM

Comparison between Eagle Capital Growth Fund Inc (GRF, ETF) and STATE STREET(R) SPDR(R) MSCI EMERGING MARKETS STRATEGICFACTORS(SM) ETF (QEMM, ETF).

5-Year PerformanceGRF has outperformed QEMM, delivering a return of +9.0% compared to +6.2%

GRF vs QEMM - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	GRF(ETF)	QEMM(ETF)
Net Assets	$48M	$47M
Expense Ratio	N/A	0.30%
Max Drawdown	69.08%	40.48%
Sharpe Ratio	0.34	1.57
5Y Beta	0.31	0.70
5Y Dividends CAGR	22.26%	16.78%

Net Assets

Winner

GRF

$48M

QEMM

$47M

Expense Ratio

GRF

N/A

QEMM

0.30%

Max Drawdown

GRF

69.08%

Winner

QEMM

40.48%

Sharpe Ratio

GRF

0.34

Winner

QEMM

1.57

5Y Beta

Winner

GRF

0.31

QEMM

0.70

5Y Dividends CAGR

Winner

GRF

22.26%

QEMM

16.78%

GRF vs QEMM - Historical Returns

Returns include dividend reinvestment.

Period	GRF	QEMM
1 month	-1.39%	-0.59%
3 months	-6.42%	+11.64%
6 months	-2.84%	+18.66%
1 year	+7.45%	+33.73%
5 years(CAGR)	+9.04%	+6.25%
10 years(CAGR)	+9.97%	+8.28%
Max(CAGR)	+8.64%	+5.34%

GRF

-1.39%

Winner

QEMM

-0.59%

GRF

-6.42%

Winner

QEMM

+11.64%

GRF

-2.84%

Winner

QEMM

+18.66%

GRF

+7.45%

Winner

QEMM

+33.73%

5Y(CAGR)

Winner

GRF

+9.04%

QEMM

+6.25%

10Y(CAGR)

Winner

GRF

+9.97%

QEMM

+8.28%

Max(CAGR)

Winner

GRF

+8.64%

QEMM

+5.34%

GRF vs QEMM - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	GRF	QEMM
2026	-8.28%	+15.93%
2025	+18.14%	+22.49%
2024	+8.09%	+6.40%
2023	+15.94%	+11.94%
2022	-11.78%	-18.19%
2021	+31.87%	+5.34%
2020	+8.25%	+8.64%
2019	+21.53%	+14.73%
2018	-0.63%	-14.28%
2017	+13.24%	+30.49%
2016	+14.36%	+11.57%
2015	-4.25%	-13.07%
2014	+11.31%	-6.59%
2013	+32.44%	N/A
2012	+2.36%	N/A
2011	+21.20%	N/A
2010	+9.09%	N/A
2009	+23.92%	N/A
2008	-34.47%	N/A
2007	+17.44%	N/A
2006	+25.60%	N/A
2005	-19.24%	N/A
2004	+4.64%	N/A

GRF vs QEMM Drawdown Comparison

The maximum drawdown for GRF was -60.89%, occurring on Mar 10, 2009. Recovery took 998 trading sessions.

The maximum drawdown for QEMM was -36.89%, occurring on Mar 23, 2020. Recovery took 735 trading sessions.

The current GRF drawdown is -14.35%. The current QEMM drawdown is -6.27%.

Rank	GRF	QEMM
#1	-60.89% Dec 27, 2007 - Dec 12, 2011	-36.89% Jan 26, 2018 - Dec 28, 2020
#2	-36.59% Feb 18, 2020 - Dec 23, 2020	-33.19% Sep 4, 2014 - Jul 26, 2017
#3	-24.98% Apr 27, 2022 - Aug 29, 2024	-27.55% Jun 1, 2021 - Sep 24, 2024
#4	-24.86% Jan 30, 2004 - Jan 5, 2007	-16.98% Oct 7, 2024 - Jun 10, 2025
#5	-20.20% Dec 26, 2014 - May 6, 2016	-10.40% Feb 25, 2026 - Apr 17, 2026
#6	-19.44% Jan 5, 2012 - Mar 7, 2013	-6.41% Feb 17, 2021 - May 28, 2021
#7	-16.49% Feb 1, 2018 - Feb 4, 2019	-6.27% Jun 2, 2026 - Jun 5, 2026
#8	-16.34% Dec 16, 2025 - Apr 15, 2026	-5.21% May 11, 2026 - May 26, 2026
#9	-15.63% Jan 21, 2022 - Apr 26, 2022	-4.00% Jan 21, 2021 - Feb 9, 2021
#10	-15.46% Jun 21, 2007 - Dec 12, 2007	-3.95% Nov 11, 2025 - Jan 2, 2026
#11	-15.22% May 13, 2016 - Nov 23, 2016	-3.63% Sep 17, 2025 - Oct 16, 2025
#12	-12.94% Jan 25, 2007 - Jun 21, 2007	-3.60% Jul 23, 2025 - Aug 12, 2025
#13	-12.66% Jul 9, 2014 - Dec 16, 2014	-3.53% Nov 22, 2017 - Dec 26, 2017
#14	-12.02% Nov 29, 2024 - Jul 23, 2025	-3.07% Jul 28, 2014 - Aug 19, 2014
#15	-11.90% Dec 5, 2016 - May 16, 2017	-2.78% Sep 19, 2017 - Oct 11, 2017

Correlation

Correlation between GRF and QEMM is 0.87 which considered as a strong positive correlation - the stocks tend to move together.

0.87

-101

Dividend Comparison (2004 - 2026)

GRF vs QEMM dividend yield comparison.

Year	GRF	QEMM
2026	0.00%	1.36%
2025	7.94%	4.90%
2024	6.97%	5.17%
2023	3.70%	4.88%
2022	4.32%	4.07%
2021	10.20%	2.35%
2020	6.89%	2.48%
2019	6.98%	3.05%
2018	7.26%	2.86%
2017	6.42%	2.11%
2016	16.19%	2.03%
2015	6.59%	2.14%
2014	4.25%	1.56%
2013	12.45%	0.00%
2012	5.07%	0.00%
2011	15.00%	0.00%
2010	4.23%	0.00%
2009	0.78%	0.00%
2008	7.02%	0.00%
2007	21.64%	0.00%
2006	14.30%	0.00%
2005	2.24%	0.00%
2004	2.25%	0.00%