iShares MSCI Emerging Markets ETF (EEM) Performance
EEM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +13.9% since Dec 31, 2025
- 1 year
- +15.5% total return
- 5 years
- +6.0% a year
- 10 years
- +7.5% a year
- Since first price
- +9.6% a year since 2003
EEM trailing returns vs SPY, QQQ, AGG
| Period | EEM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −8.4% | −8.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −4.0% | −4.0% | +3.2% | +1.9% | −0.4% |
| 6 months | −0.0% | −0.5% | +7.8% | +8.4% | −1.5% |
| YTD | +13.9% | +13.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +15.5% | +13.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +81.2%+21.9%/yr | +68.7% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +34.0%+6.0%/yr | +19.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +105.3%+7.5%/yr | +64.9% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +120.2%+5.4%/yr | +59.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +177.1%+5.2%/yr | +82.9% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionApr 11, 2003 | +772.6%+9.6%/yr | +459.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: EEM vs SPY
From Apr 11, 2003: EEM grew to $87,257, SPY to $133,652.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
EEM returns by calendar year
14 of 22 full years positive. Best 2009 (+69.0%), worst 2008 (−48.9%). 2026 is year to date.
EEM annual returns table
| Year | EEM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +13.9% | −14.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +34.0% | −15.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +6.5% | −10.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +8.9% | −13.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −20.6% | −32.7% | −18.2% | −32.6% | −13.0% |
| 2021 | −3.6% | −16.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +17.0% | −33.9% | +18.3% | +48.6% | +7.5% |
| 2019 | +18.2% | −12.5% | +31.2% | +39.0% | +8.5% |
| 2018 | −15.3% | −26.6% | −4.6% | −0.1% | +0.1% |
| 2017 | +37.3% | −5.3% | +21.7% | +32.7% | +3.6% |
| 2016 | +10.9% | −10.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −16.2% | −28.4% | +1.2% | +9.4% | +0.5% |
| 2014 | −3.9% | −17.7% | +13.5% | +19.2% | +6.0% |
| 2013 | −3.7% | −19.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +19.0% | −18.0% | +16.0% | +18.1% | +3.8% |
| 2011 | −18.8% | −30.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +16.5% | −17.8% | +15.1% | +19.9% | +6.4% |
| 2009 | +69.0% | −26.4% | +26.4% | +54.7% | +3.0% |
| 2008 | −48.9% | −64.3% | −36.8% | −41.7% | +7.9% |
| 2007 | +33.3% | −17.7% | +5.1% | +19.0% | +6.6% |
| 2006 | +31.2% | −26.2% | +15.8% | +7.1% | +3.9% |
| 2005 | +32.6% | −12.0% | +4.8% | +1.6% | +2.3% |
| 2004 | +24.6% | −21.4% | +10.7% | +10.5% | +3.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
EEM largest drawdowns
Now 12.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 31, 2007 | −66.4% | Nov 20, 2008 | Sep 18, 2017 | 1.1 years | 9.9 years |
| Feb 17, 2021 | −39.8% | Oct 24, 2022 | Sep 15, 2025 | 1.7 years | 4.6 years |
| Jan 26, 2018 | −38.2% | Mar 23, 2020 | Nov 24, 2020 | 2.2 years | 2.8 years |
| May 9, 2006 | −26.2% | Jun 13, 2006 | Dec 4, 2006 | 35 days | 7 months |
| Apr 12, 2004 | −21.4% | May 17, 2004 | Nov 4, 2004 | 35 days | 7 months |
| Jul 23, 2007 | −17.7% | Aug 16, 2007 | Sep 21, 2007 | 24 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
EEM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2003 |
|---|---|---|---|---|
| Annualized return | +23.6% | +8.3% | +8.3% | +9.8% |
| Volatility (annualized) | 15.2% | 17.7% | 17.2% | 20.8% |
| Sharpe ratio | 1.19 | 0.34 | 0.42 | — |
| Sortino ratio | 2.20 | 0.54 | 0.64 | — |
| Best month | +12.7% | +15.6% | +15.6% | +16.9% |
| Worst month | −9.3% | −11.5% | −15.8% | −25.6% |
| Best 12 months | +54.3% | +54.3% | +58.8% | +86.6% |
| Worst 12 months | +6.5% | −31.3% | −31.3% | −54.3% |
| Positive months | 72% | 57% | 57% | 57% |
| Beta vs S&P 500 | 0.80 | 0.74 | 0.77 | — |
| Correlation with S&P 500 | 0.65 | 0.66 | 0.68 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
EEM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 271 | −54.3% | +11.3% | +86.6% | 68% |
| 3-year (a year) | 247 | −11.5% | +4.0% | +45.6% | 72% |
| 5-year (a year) | 223 | −6.0% | +3.9% | +34.5% | 81% |
| 10-year (a year) | 163 | −0.0% | +3.1% | +15.7% | 99% |
Every holding period starting at a month-end since 2003. Returns for 3 years and longer are annualized.
EEM performance overview
iShares MSCI Emerging Markets ETF (EEM) returned +15.5% over the past year and +7.5% a year over ten years, with distributions reinvested. Since its first recorded price in 2003 it has returned +9.6% a year, turning $10,000 into about $87,257. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −66.4%, from Oct 31, 2007 to Nov 20, 2008, and it took 8.8 years to get back to the old high. EEM finished 14 of its 22 full calendar years with a gain; the best year was 2009 (+69.0%) and the worst 2008 (−48.9%). Volatility has been 20.8% a year.
Related: EEM chart, EEM holdings, EEM dividends. See the EEM overview for the latest quote and fund facts.
EEM performance FAQ
What is the EEM return over the past year?
EEM returned +15.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 13.3%.
What is the average annual return of EEM?
EEM has returned +6.0% a year over 5 years, +7.5% a year over 10 years, +9.6% a year since April 11, 2003 (total return, distributions reinvested).
How much would $10,000 invested in EEM be worth?
$10,000 invested in EEM at its first recorded close on April 11, 2003 would be worth about $87,257 on October 23, 2026 with distributions reinvested.
What was the worst year for EEM?
The worst calendar year was 2008, with a total return of −48.9%. The best was 2009 at +69.0%.
What is the biggest drawdown of EEM?
The largest peak-to-trough decline was −66.4% between October 31, 2007 and November 20, 2008. It recovered to the old high on September 18, 2017, 8.8 years after the bottom.
How volatile is EEM?
Over the past 3 years EEM had an annualized volatility of 15.2% and a Sharpe ratio of 1.19 (excess return over 1–3 month T-bills per unit of risk).