EEM vs SPY: which was the better investment?
iShares MSCI Emerging Markets ETF against SPDR S&P 500 ETF Trust on real daily total-return data — every dividend reinvested, from Apr 14, 2003 to Jul 13, 2026.
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Frequently asked questions
Did EEM beat SPY?
No — measured from Apr 14, 2003 to Jul 13, 2026 with dividends reinvested, SPY came out ahead: $128,764 versus $89,592 from a $10,000 start. That gap compounds from a 11.6% annual return against 9.9%.
What would $10,000 in EEM be worth today?
$10,000 invested in iShares MSCI Emerging Markets ETF (EEM) on Apr 14, 2003 would be worth about $89,592 as of Jul 13, 2026, a total return of 795.9% (9.9% per year). The same $10,000 in SPY would be worth $128,764.
Which was riskier — EEM or SPY?
EEM swung with an annualized volatility of 27.1% and a worst peak-to-trough drop of -66.4%; SPY ran at 18.5% volatility with a -55.2% maximum drawdown. Risk-adjusted (Sharpe ratio), that is 0.29 for EEM vs 0.52 for SPY.
What data is this comparison based on?
Daily adjusted closing prices covering Apr 14, 2003 through Jul 13, 2026 — the full period where both assets have price history. Adjusted prices include dividends and splits, so these are total returns. The page refreshes with new market data every day.
Can I change the dates, amounts, or add monthly investing?
Yes — the interactive tool on this page is pre-loaded with EEM vs SPY. You can set any start and end date, change the starting amount, add monthly contributions, or build a multi-asset portfolio and compare it against any benchmark.