SPDR MSCI Emerging Markets Fossil Fuel Free ETF

SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) is a State Street index fund. It tracks the MSCI Emerging Markets ex Fossil Fuels Index, which screens out most companies that own coal, oil or natural gas reserves. Its 0.30% expense ratio is higher than IEMG (0.09%) but well below EEM (0.72%). It leans heavily on Asian chipmakers: Taiwan Semiconductor alone was about 15% of assets as of June 30, 2026.

• Over the year to Oct 27, 2026, EEMX returned +15.3%, 2nd of 9 among similar funds.
• Its 5-year annualized return was +7.5% and its 10-year +8.4%.
• In the 2020 COVID crash it fell 28.8% and regained its old high 3.9 months after the low.
• Its worst full calendar year was 2022 (-19.8%); its best was 2017 (+38.5%).
• The deepest fall in its price history was 39.9% (Feb 16, 2021 to Oct 24, 2022), recovered by Sep 9, 2025.

As of Jun 30, 2026, the fund held 1,044 securities; the ten largest made up 41.27% of assets.

• Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +14.71%, +10.47%, -0.95%.

The fund starts with the MSCI Emerging Markets Index, which covers large and mid-size companies across 24 emerging-market countries. MSCI then removes energy, utility and diversified mining companies that own fossil fuel reserves. It also removes any other company that owns reserves and earns revenue from fossil fuel energy, such as oil and gas production or thermal coal mining. Coal used for steelmaking does not count. Companies that MSCI ESG Research has not assessed are left out. The screen is not airtight, but the fund must keep at least 80% of its net assets in companies that own no reserves.

Holdings are weighted by free float-adjusted market value. That means only shares readily available to trade count, so bigger companies get bigger weights. The index is reconstituted, or reset, each quarter at the end of February, May, August and November. It held 1,098 securities as of November 30, 2025. SSGA Funds Management uses sampling, so the fund may not hold every index stock. It held 1,044 as of June 30, 2026. It may also use futures contracts to manage cash. Portfolio turnover was 22%.

Market-value weighting leads to concentration. As of June 30, 2026, the top 10 holdings made up about 41% of assets. Taiwan was about 28% and South Korea about 24%.

• EEMX charges 0.3% a year, versus an average of 0.35% for the similar funds below (5th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $31 in the first year and $381 over 10 years (assuming a 5% annual return).

Its heavy weighting in Taiwanese and South Korean tech stocks, and its history of deep, slow-to-recover drops, suit a smaller slice of a portfolio rather than a core position.

EEMX could add emerging-market stocks, mostly in Asia, that a US-focused portfolio lacks. That exposure has come with sharp swings. The fund fell 28.8% in the 2020 COVID crash and recovered in about four months. In the 2022 bear market it dropped 30.8% and took nearly two years to recover. Its deepest drop was 39.9%, from February 2021 to October 2022, and it did not fully recover until September 2025. Its worst calendar year was 2022, at -19.4%. It launched in 2016, so it has no 2008 record.

Selling shares to cover spending during a stretch like that would lock in losses. Income is modest: the trailing yield was 1.94% as of October 27, 2026, paid twice a year. Costs are 0.30% a year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.