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

ETF · Currency in CAD · Last updated Jun 4, 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 7 ETFs in the Emerging Markets Equities category with lower expense ratios, going as low as 0.25%.

SymbolNameExpense RatioAUMInception
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...0.25%145.50MAug 2020XEM.TO vs HXEM.TO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF0.25%4.23BNov 2011XEM.TO vs VEE.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF0.27%3.50BOct 2009XEM.TO vs ZEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF0.28%4.54BApr 2013XEM.TO vs XEC.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF0.32%6.29BMar 2019XEM.TO vs XSEM.TO

Best Risk-Adjusted Alternatives to XEM.TO

XEM.TO has a PortfoliosLab risk / return rank of 85. There is 1 ETF in the Emerging Markets Equities category with a higher risk-adjusted rank, going as high as 86.

SymbolNameRisk / Return RankAUMInception
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
86
4.54BApr 2013XEM.TO vs XEC.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF
85
6.29BMar 2019XEM.TO vs XSEM.TO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...
85
145.50MAug 2020XEM.TO vs HXEM.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
85
3.50BOct 2009XEM.TO vs ZEM.TO
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF
69
118.62MJul 2012XEM.TO vs XMM.TO

Top Performing XEM.TO Alternatives (YTD)

XEM.TO is at 29.23% YTD. No ETFs in the Emerging Markets Equities category have higher YTD returns; the top-performing alternatives shown here go as high as 29.19%.

SymbolNameYTD ReturnAUMInception
ZEM.TO
BMO MSCI Emerging Markets Index ETF
29.19%
3.50BOct 2009XEM.TO vs ZEM.TO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...
28.95%
145.50MAug 2020XEM.TO vs HXEM.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF
28.13%
6.29BMar 2019XEM.TO vs XSEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
27.92%
4.54BApr 2013XEM.TO vs XEC.TO
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF
18.98%
118.62MJul 2012XEM.TO vs XMM.TO

Lowest Volatility Alternatives to XEM.TO

XEM.TO has 19.28% 1-year volatility. There are 4 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 12.57%.

SymbolNameVolatility 1YAUMInception
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF12.57%118.62MJul 2012XEM.TO vs XMM.TO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF15.31%4.23BNov 2011XEM.TO vs VEE.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF15.50%—Apr 2009XEM.TO vs CWO.NEO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF18.19%4.54BApr 2013XEM.TO vs XEC.TO
CAEM.TO
Avantis CIBC Emerging Markets Equity ETF19.42%—Mar 2026XEM.TO vs CAEM.TO

Lowest Drawdown Alternatives to XEM.TO

XEM.TO has a 1-year max drawdown of -12.27%. There are 5 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%
118.62MJul 2012XEM.TO vs XMM.TO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF
-10.74%
4.23BNov 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%
4.54BApr 2013XEM.TO vs XEC.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
-11.64%
3.50BOct 2009XEM.TO vs ZEM.TO

Other ETFs from iShares

The 10 most viewed iShares ETFs shown here include XEQT.TO, XDIV.TO, XEI.TO and span 7 categories. AUM among these funds goes as high as $30B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
75
12.29%
18.41BAug 2019XEM.TO vs XEQT.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...Dividend, Large Cap Value Equities
98
19.17%
5.25BJun 2017XEM.TO vs XDIV.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
22.21%
4.02BApr 2011XEM.TO vs XEI.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETFCanada Equities
80
10.75%
29.66BFeb 2001XEM.TO vs XIC.TO
XIU.TO
iShares S&P/TSX 60 Index ETFLarge Cap Growth Equities
82
10.14%
22.52BSep 1999XEM.TO vs XIU.TO
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)Nasdaq-100
66
19.81%
5.56BMay 2011XEM.TO vs XQQ.TO
XEF.TO
iShares Core MSCI EAFE IMI Index ETFGlobal Equities
47
9.95%
21.46BApr 2013XEM.TO vs XEF.TO
XGRO.TO
iShares Core Growth ETF PortfolioLarge Cap Growth Equities
67
10.38%
4.82BJun 2007XEM.TO vs XGRO.TO
XUS.TO
iShares Core S&P 500 Index ETFS&P 500
73
12.21%
12.60BApr 2013XEM.TO vs XUS.TO
XAW.TO
iShares Core MSCI All Country World ex Canada Inde...Global Equities
76
13.70%
4.25BFeb 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 14 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ZEA.TO
BMO MSCI EAFE Index ETFGlobal Equities
44
10.01%
12.24BFeb 2014XEM.TO vs ZEA.TO
VXC.TO
Vanguard FTSE Global All Cap ex Canada Index ETFGlobal Equities
75
13.63%
3.45BJun 2014XEM.TO vs VXC.TO
VOO
Vanguard S&P 500 ETFS&P 500
70
10.91%
1.60TSep 2010XEM.TO vs VOO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
74
12.30%
32.85BNov 2012XEM.TO vs VFV.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities
54
3.14%
6.10BOct 2011XEM.TO vs ZLB.TO
VSGX
Vanguard ESG International Stock ETFForeign Large Cap Equities, ESG
57
15.83%
6.30BSep 2018XEM.TO vs VSGX
EMHY
iShares J.P. Morgan EM High Yield Bond ETFEmerging Markets Bonds
71
2.80%
591.46MApr 2012XEM.TO vs EMHY
EEM
iShares MSCI Emerging Markets ETFEmerging Markets Diversified
81
27.80%
30.33BApr 2003XEM.TO vs EEM
ZEQ.TO
BMO MSCI Europe High Quality Hedged to CAD Index E...Europe Equities
13
1.89%
315.12MFeb 2014XEM.TO vs ZEQ.TO
QQQ
Invesco QQQ ETFNasdaq-100
73
21.30%
493.99BMar 1999XEM.TO vs QQQ
VXUS
Vanguard Total International Stock ETFGlobal Equities
60
14.25%
629.30BJan 2011XEM.TO vs VXUS
XEMC.TO
iShares MSCI Emerging Markets ex China Index ETFEmerging Markets Equities
93
43.62%
—Feb 2023XEM.TO vs XEMC.TO
VIU.TO
Vanguard FTSE Developed All Cap ex North America I...International Equity
62
16.73%
10.65BDec 2015XEM.TO vs VIU.TO
XEU.TO
iShares MSCI Europe IMI Index ETFEurope Equities
35
6.82%
669.76MApr 2014XEM.TO vs XEU.TO
XID.TO
iShares India Index ETFAsia Pacific Equities
2
-14.17%
131.65MJan 2010XEM.TO vs XID.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
98
20.59%
7.99BNov 2012XEM.TO vs VDY.TO
IS3S.DE
iShares Edge MSCI World Value Factor UCITS ETFGlobal Equities
97
36.40%
—Oct 2014XEM.TO vs IS3S.DE
QQC.TO
Invesco NASDAQ 100 Index ETF CAD HedgedNasdaq-100
76
22.65%
1.96BMay 2021XEM.TO vs QQC.TO
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)S&P 500
61
9.64%
15.61BMay 2001XEM.TO vs XSP.TO
XCH.TO
iShares China Index ETFChina Equities
10
-6.01%
183.52MJan 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