SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) Performance
QEMM total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +17.5% since Dec 31, 2025
- 1 year
- +18.4% total return
- 5 years
- +6.8% a year
- 10 years
- +7.2% a year
- Since first price
- +5.2% a year since 2014
QEMM trailing returns vs SPY, QQQ, AGG
| Period | QEMM total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −5.9% | −5.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.9% | −0.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.9% | +1.6% | +7.8% | +8.4% | −1.5% |
| YTD | +17.5% | +16.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.4% | +12.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +68.2%+18.9%/yr | +46.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +38.7%+6.8%/yr | +11.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +99.7%+7.2%/yr | +41.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionJun 9, 2014 | +86.4%+5.2%/yr | +26.1% | — | — | — |
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: QEMM vs SPY
From Jun 9, 2014: QEMM grew to $18,637, SPY to $47,869.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
QEMM returns by calendar year
8 of 11 full years positive. Best 2017 (+31.5%), worst 2022 (−17.8%). 2026 is year to date.
QEMM annual returns table
| Year | QEMM | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +17.5% | −10.4% | +12.3% | +15.1% | −1.0% |
| 2025 | +21.9% | −12.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +5.0% | −8.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +12.5% | −9.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −17.8% | −27.1% | −18.2% | −32.6% | −13.0% |
| 2021 | +6.3% | −6.7% | +28.7% | +27.4% | −1.8% |
| 2020 | +10.0% | −33.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +15.4% | −9.9% | +31.2% | +39.0% | +8.5% |
| 2018 | −13.3% | −23.7% | −4.6% | −0.1% | +0.1% |
| 2017 | +31.5% | −3.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +7.9% | −10.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −13.8% | −26.1% | +1.2% | +9.4% | +0.5% |
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.
QEMM largest drawdowns
Now 7.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 26, 2018 | −36.9% | Mar 23, 2020 | Dec 28, 2020 | 2.2 years | 2.9 years |
| Sep 4, 2014 | −33.2% | Jan 20, 2016 | Jul 26, 2017 | 1.4 years | 2.9 years |
| Jun 1, 2021 | −27.6% | Oct 14, 2022 | Sep 24, 2024 | 1.4 years | 3.3 years |
| Oct 7, 2024 | −17.0% | Apr 8, 2025 | Jun 11, 2025 | 6 months | 8 months |
| Feb 25, 2026 | −10.4% | Mar 30, 2026 | Apr 17, 2026 | 33 days | 51 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
QEMM risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2014 |
|---|---|---|---|---|
| Annualized return | +19.6% | +8.2% | +7.6% | +5.6% |
| Volatility (annualized) | 12.7% | 14.2% | 14.4% | 14.5% |
| Sharpe ratio | 1.14 | 0.37 | 0.43 | 0.32 |
| Sortino ratio | 2.26 | 0.62 | 0.66 | 0.49 |
| Best month | +11.5% | +12.4% | +12.4% | +12.4% |
| Worst month | −6.9% | −8.7% | −14.3% | −14.3% |
| Best 12 months | +42.7% | +42.7% | +49.5% | +49.5% |
| Worst 12 months | +4.1% | −23.7% | −23.7% | −23.7% |
| Positive months | 64% | 53% | 55% | 54% |
| Beta vs S&P 500 | 0.69 | 0.63 | 0.67 | — |
| Correlation with S&P 500 | 0.68 | 0.70 | 0.72 | — |
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.
QEMM rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 137 | −23.7% | +7.3% | +49.5% | 64% |
| 3-year (a year) | 113 | −3.1% | +4.5% | +20.2% | 83% |
| 5-year (a year) | 89 | −1.9% | +4.3% | +10.9% | 89% |
| 10-year (a year) | 29 | +2.5% | +6.0% | +9.0% | 100% |
Every holding period starting at a month-end since 2014. Returns for 3 years and longer are annualized.
QEMM performance overview
SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) returned +18.4% over the past year and +7.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2014 it has returned +5.2% a year, turning $10,000 into about $18,637. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −36.9%, from Jan 26, 2018 to Mar 23, 2020, and it took 9 months to get back to the old high. QEMM finished 8 of its 11 full calendar years with a gain; the best year was 2017 (+31.5%) and the worst 2022 (−17.8%). Volatility has been 14.5% a year.
Related: QEMM chart, QEMM holdings, QEMM dividends. See the QEMM overview for the latest quote and fund facts.
QEMM performance FAQ
What is the QEMM return over the past year?
QEMM returned +18.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.5%.
What is the average annual return of QEMM?
QEMM has returned +6.8% a year over 5 years, +7.2% a year over 10 years, +5.2% a year since June 9, 2014 (total return, distributions reinvested).
How much would $10,000 invested in QEMM be worth?
$10,000 invested in QEMM at its first recorded close on June 9, 2014 would be worth about $18,637 on October 23, 2026 with distributions reinvested.
What was the worst year for QEMM?
The worst calendar year was 2022, with a total return of −17.8%. The best was 2017 at +31.5%.
What is the biggest drawdown of QEMM?
The largest peak-to-trough decline was −36.9% between January 26, 2018 and March 23, 2020. It recovered to the old high on December 28, 2020, 9 months after the bottom.
How volatile is QEMM?
Over the past 3 years QEMM had an annualized volatility of 12.7% and a Sharpe ratio of 1.14 (excess return over 1–3 month T-bills per unit of risk).