EMMF vs QLVE: Grades, Fees and Holdings Compared

WisdomTree Emerging Markets Multifactor Fund

EMMFDNYSE Arca

Northern Trust Emerging Markets Quality Low Volatility ETF

QLVEBNYSE Arca

Overlap

31.8%by weight

Expense ratio

QLVE −0.30pt a year

EMMF0.48%QLVE0.18%

Avg volume · 30D

EMMF 33.7×the volume

EMMF13.6KQLVE404

5Y return · a year

EMMF +1.6pt

EMMF+8.6%QLVE+7.0%

EMMF vs QLVE Performance

Oct 29, 2021 – Oct 30, 2026

+51.1%EMMF+40.2%QLVE

Expense ratio: EMMF 0.48%; QLVE 0.18%, better
Fund size: EMMF $180M; QLVE $16M
1Y total return: EMMF +11.4%, better; QLVE +11.2%
Yield (12M): EMMF 1.45%; QLVE 3.17%, better
Holdings: EMMF 225; QLVE 155
Avg volume (30D): EMMF 13.6K sh, better; QLVE 404 sh
NAV per share: EMMF $34.68; QLVE $32.48
52W range

ETF.net Grade

Pillar letters and Scores for EMMF, QLVE, with each pillar’s weight
Pillar	EMMF	QLVE
Cost30% weight	D37	A100Higher
Mission25% weight	Not scored	A93
Risk15% weight	C48	B66Higher
Tradability15% weight	F20Higher	F11
Holdings10% weight	C53Higher	D32
Durability5% weight	C41Higher	D33

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. EMMF and QLVE are both graded against the same 20 Emerging Markets Multifactor funds, so their Grades compare head to head.

Emerging Markets Multifactor⁠

Category · 20 funds

See all 20 ›

QLVE ranks 7th and EMMF 15th of 20 funds in the Emerging Markets Multifactor Category.

Rank 6BJPEMJPMorgan Diversified Return Emerging Markets Equity ETFScore 62
Rank 7BQLVENorthern Trust Emerging Markets Quality Low Volatility ETFScore 61
Rank 8BROAMHartford Multifactor Emerging Markets ETFScore 60
Rank 14CMFEMPIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETFScore 41
Rank 15DEMMFWisdomTree Emerging Markets Multifactor FundScore 38
Rank 16DECONColumbia Research Enhanced Emerging Economies ETFScore 36

Our read on each fund

ETF.net Research

EMMFDWisdomTree Emerging Markets Multifactor Fund

QLVEBNorthern Trust Emerging Markets Quality Low Volatility ETF

In short

EMMF EMMF scores emerging-markets stocks on value, quality and momentum together, then holds the winners in one roughly 240-name portfolio. A single-ticket factor blend from WisdomTree, live since 2018, priced at the middle of its peer group.

QLVE Most emerging-markets factor funds chase value. QLVE goes the other way: cut the weakest fifth on quality, then optimize what is left toward lower volatility. Cost is 0.18% net of a waiver through March 1, 2027.

Stated mandate

EMMF The fund seeks capital appreciation through primarily investing in emerging-markets equity securities selected using composite multifactor scores.

QLVE The Fund is designed for investors seeking emerging-markets exposure with an emphasis on quality and low volatility. It seeks to match, before fees and expenses, the performance of the Northern Trust Emerging Markets Quality Low Volatility Index.

Why people hold it

EMMF Three factors in one wrapper: value, quality and momentum scored into a single composite, instead of bolting separate EM sleeves together.wisdomtree.com
The 0.48% expense ratio lands exactly at the median for emerging-markets multifactor funds. No premium for the factor machinery.
Spreads across roughly 240 emerging-markets names and pays quarterly, so no single country or company story dominates the sleeve.
Trading since 2018, which means a real-money record through several full emerging-markets cycles rather than a backtest.

QLVE At 0.18% net of a waiver through March 1, 2027, it undercuts every top-scoring fund in its peer group, including EMGF at 0.26% and FDEM at 0.25%.
The index cuts the lowest-quality fifth of emerging-markets large and mid caps on profitability, cash flow and capital deployment, then optimizes the rest for lower volatility.flexshares.com northerntrust.com
Sector, industry and country weights are held within set bands of the parent benchmark and turnover is capped near 12% a rebalance, curbing the sector drift low-vol screens invite.northerntrust.com sec.gov
Sits in the upper half of its emerging-markets factor peer group and has stayed close to its stated index.

Worth knowing

EMMF Thinly traded and small next to the giants of the category, so bid-ask spreads and trade timing carry more weight here.
Cheaper factor rivals sit on the same shelf: EMGF at 0.26% and AVES at 0.36% run the same EM factor idea for less.
Our review puts it in the lower half of its emerging-markets multifactor group, mostly on cost-versus-peers, tradability and portfolio construction.

QLVE Thinly traded with a small asset base, so spreads can run wider than the category heavyweights and limit orders matter more.
Roughly 160 holdings with meaningful weight in the largest names, so it is more top-heavy than a broad emerging-markets index fund.
Lower volatility is the design goal, not an outcome the fund controls: the index aims to be calmer than its parent, and the fund tracks it either way.sec.gov flexshares.com

Full EMMF profile⁠

Full QLVE profile⁠

EMMF vs QLVE Holdings

How EMMF and QLVE differ

Overlap by weight

31.8%

Shared holdings make up 49.8% of QLVE and 36.1% of EMMF.

Level by level

Holdings38 in both31.8%
Sector11 Sectors81.9%
Countryby domicile89.7%
Asset classEquity100%

Sector

Sector weights in EMMF and QLVE, widest gap first
Sector	More in EMMFMore in QLVE	EMMF	QLVE
Consumer Discretionary	EMMF +8.4 points	12.7%	4.3%
Industrials	EMMF +4.7 points	7.5%	2.8%
Energy	QLVE +4.1 points	4.1%	8.2%
Materials	EMMF +4.0 points	6.7%	2.7%
Communication	QLVE +3.9 points	6.4%	10.3%
Technology	QLVE +3.7 points	36.1%	39.8%
Financials	QLVE +2.2 points	14.9%	17.1%
Utilities	QLVE +2.2 points	2.1%	4.3%
Consumer Staples	QLVE +2.1 points	3.9%	6.0%
Real Estate	EMMF +0.8 points	1.3%	0.5%
Health Care	EMMF +0.2 points	4.1%	3.9%

Country, concentration and asset class

Country by domicile

Country weights in EMMF and QLVE, widest gap first
Country	More in EMMFMore in QLVE	EMMF	QLVE
Malaysia	QLVE +4.3 points	1.1%	5.4%
Poland	EMMF +2.8 points	3.0%	0.2%
South Africa	EMMF +2.7 points	5.5%	2.8%
Taiwan	QLVE +2.1 points	25.7%	27.8%
United States	EMMF +1.7 points	1.7%	0.0%
Mexico	EMMF +1.5 points	2.9%	1.4%
Philippines	QLVE +1.0 points	0.5%	1.5%
Brazil	EMMF +1.0 points	7.7%	6.7%
Other countries (9)	QLVE +2.2 points	52.0%	54.2%

Outside the US: EMMF 0% developed, 100% emerging. QLVE 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EMMF29.4%
QLVE37.9%

Securities held

EMMF206
QLVE137

Asset class

EMMF: Equity
QLVE: Equity

Holdings

Only in EMMF168
In both38
Only in QLVE99

Only in EMMF

168 securities, 63.5% of EMMF by weight

Alibaba Group Holding Ltd2.28%
MercadoLibre Inc1.51%
King Slide Works Co Ltd1.15%
Coupang Inc1.07%
ASE Technology Holding Co Ltd1.01%
Hyundai Motor Co0.95%
Asia Vital Components Co Ltd0.90%
Advantech Co Ltd0.81%
Elite Material Co Ltd0.80%
JSW Steel Ltd0.71%
Wiwynn Corp0.68%
Nedbank Group Ltd0.67%
Orlen SA0.65%
Ping An Insurance Group Co of China0.65%
Indian Hotels Co Ltd0.64%
Wuxi Apptec Co Ltd-H0.60%
Outsurance Group Ltd0.58%
Chroma ATE Inc0.57%
AMMB Holdings Bhd0.57%
Bosch Ltd0.56%
PKO Bank Polski SA0.56%
Accton Technology Corp0.55%
Bumrungrad Hospital PCL - NVDR0.54%
Bidvest Group Ltd0.54%
Samsung Electro-Mechanics Co L0.53%
Global Unichip Corp0.52%
YTL Power International Bhd0.52%
Fsn E-Commerce Ventures Ltd0.51%
Yageo Corp0.51%
China Life Insurance Co Ltd0.50%
TMB Bank PCL - NVDR0.50%
National Aluminium Co Ltd0.49%
Netease Inc0.49%
Shoprite Holdings Ltd0.49%
Multi Commodity Exch India0.49%
Bharat Petroleum Corp Ltd0.49%
Oberoi Realty Ltd0.49%
Fomento Economico Mexicano SAB0.48%
Bank Pekao SA0.48%
China Mengniu Dairy Co Ltd0.48%
Winbond Electronics Corp0.48%
Cadila Healthcare Ltd0.48%
Vodacom Group Pty Ltd0.47%
Laurus Labs Ltd0.47%
Nanya Technology Corp0.47%
Metropolitan Bank & Trust0.46%
APL Apollo Tubes Ltd0.45%
Motherson Sumi Systems Ltd0.45%
Evergreen Marine Corp Taiwan Ltd0.45%
Pge SA0.44%

Only in QLVE

99 securities, 49.2% of QLVE by weight

Samsung Electronics Co Ltd Preference Krw 1002.02%
Hdfc Bank Ltd Common Stock Inr 11.28%
Infosys Ltd Common Stock Inr 51.10%
Chunghwa Telecom Co Ltd Common Stock Twd 101.05%
First Financial Holding Co Ltd Common Stock Twd 101.04%
Tata Consultancy Services Ltd Common Stock Inr 11.03%
Petrochina Co Ltd Common Stock Hkd 11.01%
Petroleo Brasileiro SA - Petrobras Common Stock0.95%
Far Eastone Telecommunications Co Ltd Common Stock0.91%
Ptt Exploration & Production Pcl Nvdr Thb 10.90%
Emirates Integrated Telecommunications Co Pjsc0.89%
Jarir Marketing Co Common Stock Sar 10.87%
Bharti Airtel Ltd Common Stock Inr 50.84%
Promotora Y Operadora De Infraestructura Sab De Cv0.84%
Bangkok Dusit Medical Services Pcl Nvdr Thb 0.10.83%
Hcl Technologies Ltd Common Stock Inr 20.78%
Asian Paints Ltd Common Stock Inr 10.77%
Largan Precision Co Ltd Common Stock Twd 100.77%
Hindustan Unilever Ltd Common Stock Inr 10.76%
Guangdong Investment Ltd Common Stock Hkd 00.75%
Samsung Sds Co Ltd Common Stock Krw 5000.74%
Ecopetrol SA Common Stock Cop 2500.72%
Mega Financial Holding Co Ltd Common Stock Twd 100.70%
Saudi Basic Industries Corp Common Stock Sar 100.68%
Saudi Investment Bank/The Common Stock Sar 100.68%
Public Bank Bhd Common Stock Myr 00.67%
Saudi Aramco Base Oil Co Common Stock Sar 100.66%
Pidilite Industries Ltd Common Stock Inr 10.64%
Cipla Ltd/India Common Stock Inr 20.63%
Korea Electric Power Corp Common Stock Krw 50000.63%
China Citic Bank Corp Ltd Common Stock Hkd 10.63%
Britannia Industries Ltd Common Stock Inr 10.62%
Manila Electric Co Common Stock Php 100.61%
Fertiglobe PLC Common Stock0.60%
Taiwan Mobile Co Ltd Common Stock Twd 100.58%
China Shenhua Energy Co Ltd Common Stock Hkd 10.58%
Petronas Gas Bhd Common Stock Myr 00.56%
Petronas Dagangan Bhd Common Stock Myr 00.54%
Malayan Banking Bhd Common Stock Myr 00.54%
Metropolitan Bank & Trust Co Common Stock Php 200.54%
Kunlun Energy Co Ltd Common Stock Hkd 0.010.53%
Misc Bhd Common Stock Myr 00.52%
Cez As Common Stock Czk 1000.52%
Aselsan Elektronik Sanayi Ve Ticaret As Common0.51%
Abu Dhabi National Oil Co For Distribution Pjsc0.51%
Telekom Malaysia Bhd Common Stock Myr 00.50%
Telefonica Brasil SA Common Stock Brl 00.50%
Mobile Telecommunications Co Kscp Common Stock Kwd0.50%
Itc Ltd Common Stock Inr 10.49%
Falabella SA Common Stock Clp 00.48%

Weight gaps

All 38 Holdings in both funds, largest gap first.

Holding weights in EMMF and QLVE, widest gap first
Holding	More in EMMFMore in QLVE	EMMF	QLVE
Taiwan Semiconductor Manufacturing Co Ltd	QLVE +6.79 points	8.39%	15.18%
Samsung Electronics Co Ltd	QLVE +1.83 points	4.71%	6.54%
Industrial & Commercial Bank of China-H	QLVE +1.61 points	0.79%	2.40%
SK Hynix Inc	EMMF +0.88 points	5.29%	4.41%
Grupo Mexico SAB de CV	EMMF +0.69 points	0.74%	0.05%
Tencent Holdings Ltd	EMMF +0.63 points	3.02%	2.39%
Sun Pharmaceutical Industries	QLVE +0.61 points	0.25%	0.86%
Novatek Microelectronics Corp	QLVE +0.61 points	0.40%	1.01%
BB Seguridade Participacoes SA	QLVE +0.56 points	0.37%	0.93%
United Microelectronics Corp	QLVE +0.56 points	0.47%	1.03%
Tingyi Cayman Islands Holding	QLVE +0.53 points	0.16%	0.69%
Petroleo Brasileiro SA	QLVE +0.52 points	0.81%	1.33%
Caixa Seguridade Participaco	QLVE +0.50 points	0.38%	0.88%
RHB Bank Bhd	QLVE +0.46 points	<0.01%	0.47%
Bank of China Ltd	QLVE +0.46 points	0.71%	1.17%
Chongqing Rural Commercial Bank H-Shrs	QLVE +0.44 points	0.38%	0.82%
KT&G Corp	QLVE +0.43 points	0.36%	0.79%
Nestle India Ltd	QLVE +0.41 points	<0.01%	0.41%
China Construction Bank-H	QLVE +0.39 points	0.49%	0.88%
Unimicron Technology Corp	EMMF +0.34 points	0.46%	0.12%
Torrent Pharmaceuticals Ltd	EMMF +0.32 points	0.39%	0.07%
Marico Ltd	QLVE +0.29 points	0.44%	0.73%
Bid Corp Ltd	EMMF +0.30 points	0.58%	0.28%
PICC Property & Casualty Co Lt	EMMF +0.29 points	0.39%	0.10%
Lupin Ltd	QLVE +0.23 points	0.04%	0.27%
Eicher Motors Ltd	QLVE +0.22 points	0.53%	0.75%
MediaTek Inc	QLVE +0.22 points	1.00%	1.22%
Delta Electronics Inc	EMMF +0.22 points	0.71%	0.49%
Itau Unibanco Holding SA	EMMF +0.19 points	0.28%	0.09%
Reliance Industries Ltd	EMMF +0.19 points	0.23%	0.04%
Realtek Semiconductor Corp	QLVE +0.15 points	0.41%	0.56%
Ambev S.A.	EMMF +0.10 points	0.35%	0.25%
Divi's Laboratories Ltd	QLVE +0.07 points	0.42%	0.49%
Tupras Turkiye Petrol Rafine	EMMF +0.07 points	0.64%	0.57%
Prio SA	QLVE +0.03 points	0.25%	0.28%
Huaneng Power Intl Inc	EMMF +0.03 points	0.46%	0.43%
CPFL Energia SA	EMMF +0.02 points	0.42%	0.40%
Tim Sa	QLVE +0.01 points	0.36%	0.37%

All 238 EMMF holdings⁠All 166 QLVE holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

EMMF vs QLVE Cost

Overpaying EMMF vs QLVE

$5,856

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

EMMF 0.48%
$9,605
QLVE 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

EMMF 0.48%
QLVE 0.18%
Overpaying

Year by year

Year	EMMF	QLVE	Overpaying
10	$865	$328	$537
20	$3,328	$1,281	$2,047
30	$9,605	$3,749	$5,856

Expense ratio

0.48%EMMF
0.18%QLVE, cheaper

QLVE0.18%EMMF0.48%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

QLVE cheapest of 20 funds

EMMF 13th cheapest of 20 funds

EMMF vs QLVE Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EMMF 1.45%; QLVE 3.17%, better
Payout (12M): EMMF $0.50; QLVE $1.02
Last payment: EMMF $0.15; QLVE $0.34
Ex-dividend: EMMF Sep 25, 2026; QLVE Sep 18, 2026
Paid on: EMMF Sep 29, 2026; QLVE Sep 24, 2026
Frequency: EMMF Quarterly; QLVE Quarterly

Distribution history

Per share, 2018 to 2026, same scale for both

EMMFQuarterly · 32 paymentsAll EMMF payments⁠

QLVEQuarterly · 26 paymentsAll QLVE payments⁠

EMMF vs QLVE Risk

Fall from peak · 5 years

EMMF
QLVE

Risk facts

VolatilityStd dev, 3 years: EMMF 14.7%QLVE 11.0%, better
Return per unit of riskSharpe ratio, 3 years: EMMF 0.87QLVE 1.11, better
Worst fallMax drawdown, 5 years: EMMF −22.9%, betterQLVE −23.6%
Market sensitivityBeta, 5 years: EMMF 0.89QLVE 0.83; Market = 1

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