State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) IV/HV History
Comparing implied volatility to historical (realized) volatility reveals whether options are priced rich or cheap relative to actual price movement. Persistent gaps can signal trading opportunities.
State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $47.4M, listed on AMEX, carrying a beta of 0.90 to the broader market. The State Street SPDR MSCI Emerging Markets StrategicFactors ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the MSCI Emerging Markets (EM) Factor Mix A-Series Index (the "Index")Seeks to track a Smart Beta index that blends low volatility, quality and value exposures together in a single strategyThe resulting mix may offer a low-volatility strategy with an equal focus on high-quality and attractively valued firmsMulti-factor smart beta strategies can bridge the gap between active and indexed management, providing an opportunity for investors to rethink exposures and potentially maximize risk-adjusted returns more efficiently public since 2014-06-05.
Snapshot as of May 15, 2026.
- Spot Price
- $77.80
- ATM IV
- 22.7%
- HV 20-Day
- 23.9%
- HV 60-Day
- 25.9%
- IV Rank
- 31.1%
- IV Percentile
- 84.1%
As of May 15, 2026, State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) ATM implied volatility is 22.7%. 20-day realized volatility is 23.9%, producing an IV-HV spread of -1.2 vol points. Realized volatility currently exceeds implied, an inversion that can signal a pending IV expansion. IV rank is 31.1%.
How QEMM iv/hv history Data Feeds Strategy Selection
Strategy selection on State Street SPDR MSCI Emerging Markets StrategicFactors ETF options does not derive from any single metric in isolation. The iv/hv history view above sits inside a broader read: ATM IV currently sits at 22.7% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the iv/hv history data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how implied vs realized volatility is reported and how to read the data →
Frequently asked QEMM iv/hv history questions
- Is QEMM options pricing rich or cheap right now?
- As of May 15, 2026, State Street SPDR MSCI Emerging Markets StrategicFactors ETF (QEMM) ATM IV is 22.7% against 20-day realized volatility of 23.9%. IV rank is 31.1%. Realized volatility currently exceeds implied: an inversion of the typical equity volatility risk premium that often precedes IV expansion.
- What is the QEMM variance risk premium?
- The variance risk premium is the persistent gap between implied and subsequently realized volatility. In equity markets it averages positive because option sellers demand compensation for bearing variance shocks. QEMM is currently pricing inverted to the historical pattern, which is one input to whether short-vol or long-vol structures carry their typical edge.
- What does QEMM IV rank mean for strategy selection?
- IV rank normalizes the current ATM IV to its 1-year range: 0% is the low, 100% is the high. QEMM's current rank of 31.1% signals where current pricing sits in its own 1-year history. High-rank regimes typically favor premium-selling structures (credit spreads, condors, covered calls); low-rank regimes typically favor premium-buying or long-volatility structures.