EQLT vs QEMM: Grades, Fees and Holdings Compared

iShares MSCI Emerging Markets Quality Factor ETF

EQLTCCboe

State Street SPDR MSCI Emerging Markets StrategicFactors ETF

QEMMBNYSE Arca

Overlap

31.6%by weight

Expense ratio

QEMM −0.05pt a year

EQLT0.35%QEMM0.30%

Avg volume · 30D

QEMM 2.6×the volume

EQLT1.46KQEMM3.81K

EQLT vs QEMM Performance

Nov 7, 2025 – Nov 9, 2026

+15.3%EQLT+18.4%QEMM

Expense ratio: EQLT 0.35%; QEMM 0.30%, better
Fund size: EQLT $11M; QEMM $54M
1Y total return: EQLT +15.3%; QEMM +18.4%, better
Yield (12M): EQLT 2.65%; QEMM 4.62%, better
Holdings: EQLT 313; QEMM 836
Avg volume (30D): EQLT 1.46K sh; QEMM 3.81K sh, better
NAV per share: EQLT $33.32; QEMM $73.94
52W range

ETF.net Grade

Pillar letters and Scores for EQLT, QEMM, with each pillar’s weight
Pillar	EQLT	QEMM
Cost30% weight	B68	A82Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	F23	A71Higher
Tradability15% weight	D38Higher	D37
Holdings10% weight	C49	B55Higher
Durability5% weight	D27	C52Higher

Rank among Emerging Markets Multifactor funds

How we build Categories ›

Same Category. EQLT and QEMM 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 ›

QEMM ranks 4th and EQLT 11th of 20 funds in the Emerging Markets Multifactor Category.

Rank 1AEMGFiShares Emerging Markets Equity Factor ETFScore 76
Rank 2AAVESAvantis Emerging Markets Value ETFScore 71
Rank 2AFDEMFidelity Emerging Markets Multifactor ETFScore 71
Rank 4BQEMMState Street SPDR MSCI Emerging Markets StrategicFactors ETFScore 65
Rank 5BDFEVDimensional Emerging Markets Value ETFScore 63
Rank 10CUEVMVictoryShares Emerging Markets Value Momentum ETFScore 51
Rank 11CEQLTiShares MSCI Emerging Markets Quality Factor ETFScore 47
Rank 12CJHEMJohn Hancock Multifactor Emerging Markets ETFScore 42

Our read on each fund

ETF.net Research

EQLTCiShares MSCI Emerging Markets Quality Factor ETF

QEMMBState Street SPDR MSCI Emerging Markets StrategicFactors ETF

In short

EQLT Most emerging-market factor funds blend several signals together. EQLT picks one and commits: quality. It tracks an MSCI index of roughly 300 large- and mid-cap EM companies screened for high profitability, low debt and steady earnings, for 0.35% a year.

QEMM Instead of betting on one factor, QEMM buys value, quality and low volatility across emerging markets at once, packing roughly 800 stocks into a single MSCI factor-blend index for 0.30% a year.

Stated mandate

EQLT The fund seeks to track an index of large- and mid-cap emerging-market stocks selected for high profitability, low leverage, and earnings consistency.

QEMM The fund seeks to track the MSCI Emerging Markets (EM) Factor Mix A-Series Index.

Why people hold it

EQLT Charges 0.35% a year, under the median expense ratio for emerging-market factor funds in its peer group.
One factor, clearly defined: the MSCI Emerging Markets Quality Factor Select Index screens for high profitability, low leverage and earnings consistency. No black-box blending of competing signals.ishares.com
Roughly 300 holdings across emerging markets, so the quality screen still leaves a broad spread of names rather than a concentrated bet.
Priced below multifactor EM rivals like JPMorgan's JPEM and Hartford's ROAM, both at 0.44%.

QEMM One ticket, three tilts: the MSCI EM Factor Mix A-Series Index blends value, quality and low volatility, so no single style has to be in favor for the strategy to run as designed.ssga.com
At 0.30% a year it undercuts the typical fee in the multifactor emerging-markets crowd, and the portfolio is built by index rules rather than a manager's hunch.
Running since 2014 with roughly 800 holdings and State Street behind the wrapper: a long-lived option in a corner of the market where niche products often quietly close.
The low-volatility sleeve is the tell. This is emerging-markets exposure assembled to smooth the ride, not to chase the hottest single factor.ssga.com

Worth knowing

EQLT Small asset base and thin trading volume. Spreads can run wider than in the giants of the emerging-market shelf, which matters most on larger orders.
Launched in 2024, so there is no long live record to judge how the screen holds up across a full emerging-market cycle.
A quality tilt is a deliberate deviation from the broad EM index. Rallies led by cheap, cyclical or heavily levered companies are the ones this screen filters out.

QEMM Trades thinner than the category's household names, so spreads can be wider. That bites most on large or hurried orders.
Splitting the bet three ways dilutes each factor by design, so the portfolio rarely looks or moves like a plain-vanilla emerging-markets index.
Distributions land once or twice a year rather than quarterly, and peers such as EMGF carry a lower fee for multifactor EM exposure.

Full EQLT profile⁠

Full QEMM profile⁠

EQLT vs QEMM Holdings

How EQLT and QEMM differ

Overlap by weight

31.6%

Shared holdings make up 87.5% of EQLT and 34.7% of QEMM.

Level by level

Holdings234 in both31.6%
Countryby domicile75.3%
Sector11 Sectors94.5%
Asset classStocks100%

Sector

Sector weights in EQLT and QEMM, widest gap first
Sector	Gap	EQLT	QEMM
Technology	EQLT +2.4 points	34.2%	31.8%
Consumer Staples	QEMM +1.8 points	4.0%	5.8%
Consumer Discretionary	EQLT +1.7 points	9.2%	7.5%
Financials	QEMM +1.3 points	21.8%	23.1%
Energy	QEMM +1.1 points	3.9%	5.0%
Communication	QEMM +0.8 points	6.4%	7.2%
Industrials	EQLT +0.7 points	6.1%	5.4%
Real Estate	EQLT +0.6 points	1.4%	0.8%
Utilities	QEMM +0.5 points	2.1%	2.6%
Materials	EQLT +0.1 points	7.2%	7.1%
Health Care	Same weight	3.8%	3.8%

Country, concentration and asset class

Country by domicile

Country weights in EQLT and QEMM, widest gap first
Country	Gap	EQLT	QEMM
Taiwan	QEMM +19.8 points	8.5%	28.3%
South Africa	EQLT +9.6 points	13.7%	4.1%
South Korea	EQLT +3.9 points	15.3%	11.4%
India	EQLT +3.8 points	20.0%	16.2%
Brazil	EQLT +3.4 points	7.1%	3.7%
United States	QEMM +1.7 points	0.0%	1.7%
Thailand	EQLT +1.0 points	2.7%	1.7%
Poland	EQLT +0.9 points	1.9%	1.0%
Other countries (10)	QEMM +1.0 points	31.0%	32.0%

Outside the US: EQLT 0% developed, 100% emerging. QEMM 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

EQLT31.6%
QEMM23.3%

Securities held

EQLT292
QEMM810

Asset class

EQLT: Stocks
QEMM: Stocks

Holdings

Only in EQLT58
In both234
Only in QEMM576

Only in EQLT

58 securities, 12.3% of EQLT by weight

Delta Electronics (Thailand) Non-V1.74%
Samsung Fire & Marine Insurance Lt1.03%
Foxconn Industrial Internet Ltd A0.76%
Grupo Mexico B0.74%
Gpo Finance Banorte0.70%
Samsung C&T Corp0.59%
Samsung Life Ltd0.57%
Apr Ltd0.42%
Walmart De Mexico V0.39%
Hd Korea Shipbuilding & Offshore E0.29%
Sun Pharmaceutical Industries0.27%
Grupo Aeroportuario Del Pacifico0.25%
Ls Electric Ltd0.23%
Shennan Circuits Ltd A0.23%
Titan Company Ltd0.22%
Aldar Properties0.19%
Scb X Public Company Limited Non-V0.17%
Press Metal Aluminium Holdings0.16%
Shengyi Technology Ltd A0.16%
Lg0.16%
Advanced Info Service Non-Voting D0.15%
Malayan Banking0.15%
Grupo Aeroportuario Del Centro Nor0.14%
Adnoc Drilling Company0.14%
Gail India Ltd0.14%
Grupo Financiero Inbursa Sries O0.14%
Gulf Development Non-Voting Dr Pcl0.13%
Petronas Gas0.12%
Cd Projekt Red0.11%
Bangkok Dusit Medical Services Non0.11%
Au Small Finance Bank0.10%
Bdo Unibank0.10%
Bumrungrad Hospital Non-Voting Dr0.10%
East Money Information Ltd A0.10%
Dlf Ltd0.10%
Promotora Y Operadora De Infraestr0.10%
Ammb Holdings0.10%
Bajaj Holdings and Investment Ltd0.10%
Siam Cement Non-Voting Dr Pcl0.09%
Manila Electric0.09%
Icici Life Insurance Ltd0.07%
Bank of The Philippine Islands0.07%
Suzlon Energy0.07%
Haitian International Ltd0.06%
Maxis0.06%
Kimberly-Clark De Mexico Class A0.05%
Petronas Chemicals Group0.05%
Contemporary Amperex Technology Class0.05%
Sm Prime Holdings0.05%
Misc0.04%

Only in QEMM

576 securities, 64.6% of QEMM by weight

Taiwan Semiconductor Manufac6.26%
Russian Ruble5.38%
Mediatek Inc2.72%
China Construction Bank H1.69%
Ind & Comm Bk of China H1.26%
Delta Electronics Inc1.23%
Samsung Electronics Co Ltd1.20%
Bank of China Ltd H1.15%
Elite Material Co Ltd0.82%
Samsung Electronics Pref0.62%
Agricultural Bank of China H0.60%
Infosys Ltd Sp Adr0.57%
Grupo Mexico Sab De Cv Ser B0.55%
Chunghwa Telecom Co Ltd0.54%
Advanced Info Service Foreig0.52%
Wiwynn Corp0.50%
Asia Vital Components0.50%
Bharti Airtel Ltd0.47%
Samsung Sdi Co Ltd0.47%
Quanta Computer Inc0.45%
Hdfc Bank Limited0.45%
Taiwan Cooperative Financial0.44%
Hon Hai Precision Industry0.43%
United Microelectronics Corp0.43%
First Financial Holding Co0.40%
Taiwan Mobile Co Ltd0.40%
China Citic Bank Corp Ltd H0.40%
Chroma Ate Inc0.39%
Novatek Microelectronics Cor0.37%
China Petroleum & Chemical H0.37%
Petrochina Co Ltd H0.37%
Credicorp Ltd0.35%
Delta Electronics Thai Forgn0.35%
Xiaomi Corp Class B0.35%
Malayan Banking Bhd0.35%
Global Unichip Corp0.33%
Advantech Co Ltd0.33%
Emirates Telecom Group Co0.32%
Kuwait Finance House0.32%
Far Eastone Telecomm Co Ltd0.30%
Jd.com Inc Class A0.30%
Qatar National Bank0.29%
Kt+g Corp0.28%
Jentech Precision Industrial0.28%
Walmart De Mexico Sab De Cv0.28%
Hua Nan Financial Holdings C0.28%
Ping An Insurance Group Co H0.27%
Bank of Communications Co H0.27%
Realtek Semiconductor Corp0.27%
E.sun Financial Holding Co0.27%

Weight gaps

The 100 widest of 234 Holdings in both funds.

Holding weights in EQLT and QEMM, widest gap first
Holding	Gap	EQLT	QEMM
Infosys	EQLT +4.09 points	4.63%	0.54%
Sk Hynix	EQLT +3.42 points	4.10%	0.68%
Lenovo Group	EQLT +3.05 points	3.43%	0.38%
Tencent Holdings	EQLT +2.90 points	3.68%	0.78%
Alibaba Group Holding	EQLT +2.56 points	3.15%	0.59%
Accton Technology	EQLT +2.40 points	2.95%	0.55%
King Slide Works	EQLT +2.15 points	2.56%	0.41%
Tata Consultancy Services Ltd	EQLT +2.07 points	3.14%	1.07%
Aspeed Technology	EQLT +1.63 points	2.24%	0.61%
Nu Holdings Class ANU	EQLT +1.37 points	1.47%	0.10%
Petroleo Brasileiro Pref SA	EQLT +1.12 points	1.16%	0.04%
Samsung Biologics	EQLT +1.04 points	1.52%	0.49%
Cia Vale Do Rio Doce Sh	EQLT +1.02 points	1.02%	<0.01%
Al Rajhi Bank	EQLT +0.92 points	1.23%	0.31%
Firstrand Ltd	EQLT +0.88 points	0.98%	0.10%
Capitec Shs	EQLT +0.82 points	1.29%	0.47%
Hcl Technologies Ltd	EQLT +0.74 points	1.28%	0.54%
Powszechna Kasa Oszczednosci Bank	EQLT +0.74 points	0.83%	0.09%
Zhongji Innolight A	EQLT +0.74 points	0.89%	0.15%
Icici Bank	EQLT +0.70 points	0.94%	0.24%
Hanmi Semiconductor	EQLT +0.69 points	0.86%	0.17%
Emaar Properties	EQLT +0.64 points	0.76%	0.12%
Standard Bank Group	EQLT +0.63 points	0.75%	0.12%
Kia Corporation	EQLT +0.56 points	0.73%	0.17%
Hyundai Mobis Ltd	EQLT +0.51 points	0.64%	0.13%
Itausa Investimentos Itau Pref SA	EQLT +0.49 points	0.73%	0.24%
B3 Brasil Bolsa Balcao SA	EQLT +0.48 points	0.52%	0.04%
China Life Insurance Ltd H	EQLT +0.46 points	0.60%	0.14%
Public Bank	EQLT +0.43 points	0.53%	0.10%
Db Insurance Ltd	EQLT +0.42 points	0.47%	0.05%
Al-Elm Information Security Compan	EQLT +0.42 points	0.73%	0.31%
Reliance Industries Ltd	EQLT +0.39 points	0.59%	0.20%
Bank Central Asia	EQLT +0.37 points	0.68%	0.31%
Hyundai Glovis Ltd	EQLT +0.36 points	0.40%	0.04%
Persistent Systems Ltd	EQLT +0.36 points	0.60%	0.24%
Aac Technologies Holdings	EQLT +0.35 points	0.36%	0.01%
Companhia De Saneamento Basico De	EQLT +0.35 points	0.50%	0.15%
Hd Hyundai Electric	EQLT +0.34 points	0.44%	0.10%
National Bank of Greece	EQLT +0.33 points	0.42%	0.09%
Eoptolink Technology Inc A	EQLT +0.34 points	0.41%	0.07%
Gold Fields	EQLT +0.28 points	1.02%	0.74%
Krafton	EQLT +0.27 points	0.31%	0.04%
Anglogold Ashanti PLC	EQLT +0.27 points	1.37%	1.10%
Samsung Sds	QEMM +0.26 points	0.11%	0.37%
Sam Yang Foods Inc	EQLT +0.26 points	0.34%	0.08%
Oracle Financial Services Software	EQLT +0.25 points	0.29%	0.04%
Weg	EQLT +0.21 points	0.47%	0.26%
Torrent Pharmaceuticals Ltd	QEMM +0.22 points	0.11%	0.33%
Bank Pekao SA	EQLT +0.21 points	0.27%	0.06%
Wus Printed Circuit (Kunshan) A	EQLT +0.21 points	0.23%	0.02%
Sanlam Limited Ltd	EQLT +0.20 points	0.29%	0.09%
China Merchants Bank H	EQLT +0.20 points	0.42%	0.22%
Contemporary Amperex Technology A	EQLT +0.20 points	0.22%	0.02%
Southern Copper CorpSCCO	EQLT +0.19 points	0.49%	0.30%
Suzhou Tfc Optical Communicationin	EQLT +0.20 points	0.22%	0.02%
Kweichow Moutai A	EQLT +0.20 points	0.62%	0.42%
Asian Paints	QEMM +0.19 points	0.08%	0.27%
Beijing Kingsoft Office Software A	EQLT +0.18 points	0.22%	0.04%
Hyundai-Rotem	EQLT +0.18 points	0.28%	0.10%
Pzu SA	EQLT +0.18 points	0.22%	0.04%
China Pacific Insurance (Group) H	EQLT +0.18 points	0.23%	0.05%
Grupo Cibest Pref SA	EQLT +0.18 points	0.23%	0.05%
Bank Rakyat Indonesia (Persero)	EQLT +0.18 points	0.23%	0.05%
Aselsan Elektronik Sanayi Ve Ticar	QEMM +0.17 points	0.10%	0.27%
Mphasis Ltd	EQLT +0.16 points	0.23%	0.07%
Sbi Life Insurance Company Ltd	EQLT +0.17 points	0.18%	0.01%
Nestle India Ltd	QEMM +0.17 points	0.15%	0.32%
Lig DEFENSE&AEROSPACE Ltd	EQLT +0.16 points	0.21%	0.05%
Picc Property and Casualty Ltd H	EQLT +0.16 points	0.37%	0.21%
Yum China Holdings Inc	EQLT +0.16 points	0.24%	0.08%
Hanwha Ocean Ltd	EQLT +0.16 points	0.16%	<0.01%
Db Islamic Bank	QEMM +0.16 points	0.12%	0.28%
Saudi Telecom	EQLT +0.16 points	0.61%	0.45%
Discovery	EQLT +0.16 points	0.18%	0.02%
China Yangtze Power Ltd A	QEMM +0.15 points	0.14%	0.29%
Hindustan Unilever Ltd	QEMM +0.16 points	0.24%	0.40%
Pop Mart International Group	EQLT +0.15 points	0.34%	0.19%
Kotak Mahindra Bank Ltd	EQLT +0.14 points	0.40%	0.26%
Saudi Awwal Bank	EQLT +0.15 points	0.19%	0.04%
Emirates Nbd	EQLT +0.15 points	0.47%	0.32%
Power Grid Corporation of India	EQLT +0.14 points	0.19%	0.05%
Jarir Marketing	QEMM +0.14 points	0.09%	0.23%
Zto Express (Cayman) Inc	EQLT +0.14 points	0.18%	0.04%
Cipla Ltd	QEMM +0.13 points	0.14%	0.27%
Ambev SA	EQLT +0.14 points	0.18%	0.04%
Eicher Motors Ltd	QEMM +0.14 points	0.16%	0.29%
Pidilite Industries Ltd	QEMM +0.13 points	0.10%	0.23%
Erste Bank Polska SA	EQLT +0.13 points	0.16%	0.03%
Qatar Islamic Bank	EQLT +0.13 points	0.21%	0.08%
Abu Dhabi Islamic Bank	EQLT +0.13 points	0.32%	0.19%
Itc Ltd	QEMM +0.13 points	0.16%	0.29%
Tech Mahindra	EQLT +0.13 points	0.40%	0.27%
Anta Sports Products Ltd	EQLT +0.12 points	0.34%	0.22%
Adani Power Ltd	EQLT +0.12 points	0.12%	<0.01%
Netease	EQLT +0.12 points	0.91%	0.79%
Ultratech Cement Ltd	EQLT +0.12 points	0.14%	0.02%
Hankook Tire & Technology Ltd	EQLT +0.12 points	0.15%	0.03%
Pdd Holdings AdsPDD	EQLT +0.11 points	0.96%	0.85%
Bank Mandiri (Persero)	EQLT +0.11 points	0.17%	0.06%
Zijin Mining Group Ltd H	EQLT +0.11 points	0.49%	0.38%

All 291 EQLT holdings⁠All 788 QEMM 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.

EQLT vs QEMM Cost

Overpaying EQLT vs QEMM

$977

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

EQLT 0.35%
$7,126
QEMM 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

EQLT 0.35%
QEMM 0.30%
Overpaying

Year by year

Year	EQLT	QEMM	Overpaying
10	$634	$545	$89
20	$2,454	$2,113	$341
30	$7,126	$6,149	$977

Expense ratio

0.35%EQLT
0.30%QEMM, cheaper

QEMM0.30%EQLT0.35%

0.18%0.80%

Middle half of Emerging Markets Multifactor funds
Median 0.44%

QEMM 4th cheapest of 20 funds

EQLT 6th cheapest of 20 funds

EQLT vs QEMM Dividends

Last 12 months to Nov 9, 2026

Yield (12M): EQLT 2.65%; QEMM 4.62%, better
Payout (12M): EQLT $0.90; QEMM $3.52
Last payment: EQLT $0.28; QEMM $1.05
Ex-dividend: EQLT Jun 15, 2026; QEMM Jun 1, 2026
Paid on: EQLT Jun 18, 2026; QEMM Jun 5, 2026
Frequency: EQLT Twice a year; QEMM Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

EQLTTwice a year · 4 paymentsAll EQLT payments⁠

QEMMTwice a year · 19 paymentsAll QEMM payments⁠

EQLT vs QEMM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: EQLT 19.6%since Oct 2024QEMM 13.3%
Return per unit of riskSharpe ratio, 3 years: EQLT 0.67since Oct 2024QEMM 1.00
Worst fallMax drawdown, 5 years: EQLT −40.9%since Sep 2024QEMM −27.1%
Market sensitivityBeta, 5 years: EQLT 1.03QEMM 0.95; Market = 1

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