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iShares MSCI Emerging Markets Index ETF (XEM.TO) Alternatives

ETF · Currency in CAD · Last updated Jul 15, 2026

XEM.TO is a passive ETF by iShares tracking the investment results of the Morningstar EM GR CAD. XEM.TO launched on Jun 18, 2009 and has a 0.81% expense ratio.

iShares MSCI Emerging Markets Index ETF (XEM.TO) belongs to the Emerging Markets Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with XEM.TO. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to XEM.TO

XEM.TO charges 0.81% annually. There are 8 ETFs in the Emerging Markets Equities category with lower expense ratios, going as low as 0.25%.

SymbolNameExpense RatioAUMInception
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF0.25%4.45BNov 2011XEM.TO vs VEE.TO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...0.25%207.76MAug 2020XEM.TO vs HXEM.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF0.27%3.45BOct 2009XEM.TO vs ZEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF0.28%4.56BApr 2013XEM.TO vs XEC.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF0.32%6.13BMar 2019XEM.TO vs XSEM.TO

Best Risk-Adjusted Alternatives to XEM.TO

XEM.TO has a PortfoliosLab risk / return rank of 73. There are 2 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 81.

SymbolNameRisk / Return RankAUMInception
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF
81
101.09MMay 2016XEM.TO vs ZLE.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
73
3.45BOct 2009XEM.TO vs ZEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
72
4.56BApr 2013XEM.TO vs XEC.TO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...
70
207.76MAug 2020XEM.TO vs HXEM.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF
61
—Apr 2009XEM.TO vs CWO.NEO

Top Performing XEM.TO Alternatives (YTD)

XEM.TO is at 23.32% YTD. There is 1 ETF in the Emerging Markets Equities category with a higher YTD return, going as high as 25.80%.

SymbolNameYTD ReturnAUMInception
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF
25.80%
101.09MMay 2016XEM.TO vs ZLE.TO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...
23.28%
207.76MAug 2020XEM.TO vs HXEM.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
23.27%
3.45BOct 2009XEM.TO vs ZEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
22.31%
4.56BApr 2013XEM.TO vs XEC.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF
20.57%
6.13BMar 2019XEM.TO vs XSEM.TO

Lowest Volatility Alternatives to XEM.TO

XEM.TO has 22.99% 1-year volatility. There are 5 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 15.08%.

SymbolNameVolatility 1YAUMInception
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF15.08%119.82MJul 2012XEM.TO vs XMM.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF16.67%—Apr 2009XEM.TO vs CWO.NEO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF16.79%4.45BNov 2011XEM.TO vs VEE.TO
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF18.06%101.09MMay 2016XEM.TO vs ZLE.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF21.99%4.56BApr 2013XEM.TO vs XEC.TO

Lowest Drawdown Alternatives to XEM.TO

XEM.TO has a 1-year max drawdown of -12.27%. There are 6 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -8.76%.

SymbolNameMax Drawdown 1YAUMInception
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF
-8.76%
119.82MJul 2012XEM.TO vs XMM.TO
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF
-9.45%
101.09MMay 2016XEM.TO vs ZLE.TO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF
-10.74%
4.45BNov 2011XEM.TO vs VEE.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF
-10.90%
—Apr 2009XEM.TO vs CWO.NEO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
-11.25%
4.56BApr 2013XEM.TO vs XEC.TO

Other ETFs from iShares

The 10 most viewed iShares ETFs shown here include XEQT.TO, XDIV.TO, XEI.TO and span 8 categories. AUM among these funds goes as high as $31B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
85
13.88%
20.34BAug 2019XEM.TO vs XEQT.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...Dividend, Large Cap Value Equities
98
25.21%
5.78BJun 2017XEM.TO vs XDIV.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
26.33%
4.25BApr 2011XEM.TO vs XEI.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETFCanada Equities
88
12.69%
31.16BFeb 2001XEM.TO vs XIC.TO
XIU.TO
iShares S&P/TSX 60 Index ETFCanada Equities
92
13.59%
23.77BSep 1999XEM.TO vs XIU.TO
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)Nasdaq-100
43
15.75%
5.51BMay 2011XEM.TO vs XQQ.TO
XEF.TO
iShares Core MSCI EAFE IMI Index ETFForeign Large Cap Equities
61
12.66%
22.53BApr 2013XEM.TO vs XEF.TO
XGRO.TO
iShares Core Growth ETF PortfolioDiversified Portfolio
74
11.24%
5.03BJun 2007XEM.TO vs XGRO.TO
XUS.TO
iShares Core S&P 500 Index ETFS&P 500
77
13.50%
13.11BApr 2013XEM.TO vs XUS.TO
XAW.TO
iShares Core MSCI All Country World ex Canada Inde...Global Equities
80
14.66%
4.49BFeb 2015XEM.TO vs XAW.TO

Often Compared With XEM.TO

Investors most often compare XEM.TO with ZEA.TO, VXC.TO, VOO. These 20 comparison targets span 15 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ZEA.TO
BMO MSCI EAFE Index ETFForeign Large Cap Equities
60
12.71%
13.26BFeb 2014XEM.TO vs ZEA.TO
VXC.TO
Vanguard FTSE Global All Cap ex Canada Index ETFGlobal Equities
79
14.43%
3.47BJun 2014XEM.TO vs VXC.TO
VOO
Vanguard S&P 500 ETFS&P 500
67
10.87%
1.70TSep 2010XEM.TO vs VOO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities
49
7.40%
6.24BOct 2011XEM.TO vs ZLB.TO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
78
13.57%
34.09BNov 2012XEM.TO vs VFV.TO
VSGX
Vanguard ESG International Stock ETFForeign Large Cap Equities, ESG
57
14.44%
6.60BSep 2018XEM.TO vs VSGX
EMHY
iShares J.P. Morgan EM High Yield Bond ETFEmerging Markets Bonds
79
3.36%
613.54MApr 2012XEM.TO vs EMHY
EEM
iShares MSCI Emerging Markets ETFEmerging Markets Diversified
65
20.66%
29.54BApr 2003XEM.TO vs EEM
ZEQ.TO
BMO MSCI Europe High Quality Hedged to CAD Index E...Europe Equities
24
5.40%
319.55MFeb 2014XEM.TO vs ZEQ.TO
QQQ
Invesco QQQ ETFNasdaq-100
61
17.43%
481.14BMar 1999XEM.TO vs QQQ
VXUS
Vanguard Total International Stock ETFGlobal Equities
59
12.84%
652.30BJan 2011XEM.TO vs VXUS
XEMC.TO
iShares MSCI Emerging Markets ex China Index ETFEmerging Markets Equities
87
35.91%
—Feb 2023XEM.TO vs XEMC.TO
VIU.TO
Vanguard FTSE Developed All Cap ex North America I...International Equity
71
17.18%
11.04BDec 2015XEM.TO vs VIU.TO
XEU.TO
iShares MSCI Europe IMI Index ETFEurope Equities
46
10.05%
680.79MApr 2014XEM.TO vs XEU.TO
XID.TO
iShares India Index ETFIndia Equities, Asia Pacific Equities
4
-10.45%
136.92MJan 2010XEM.TO vs XID.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
28.26%
8.59BNov 2012XEM.TO vs VDY.TO
QQC.TO
Invesco NASDAQ 100 Index ETF CAD HedgedNasdaq-100
68
20.27%
3.73BMay 2021XEM.TO vs QQC.TO
IS3S.DE
iShares Edge MSCI World Value Factor UCITS ETFGlobal Equities
97
34.37%
—Oct 2014XEM.TO vs IS3S.DE
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)S&P 500
56
9.35%
15.74BMay 2001XEM.TO vs XSP.TO
XCH.TO
iShares China Index ETFChina Equities, Asia Pacific Equities
7
-9.07%
180.93MJan 2010XEM.TO vs XCH.TO

Compare XEM.TO with Any Fund or Stock

Compare XEM.TO with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

 

Diversifiers

Pair XEM.TO with funds that move differently

iShares MSCI Emerging Markets Index ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to XEM.TO.

Explore XEM.TO Diversifiers