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

ETF · Currency in CAD · Last updated Aug 5, 2026

XEM.TO is a passive ETF by iShares tracking the investment results of the MSCI Emerging Markets CAD (Net). XEM.TO launched on Jun 18, 2009 and has a 0.83% 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 0.83% annually. There are 10 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%209.53MAug 2020XEM.TO vs HXEM.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF0.27%3.37BOct 2009XEM.TO vs ZEM.TO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF0.28%4.49BApr 2013XEM.TO vs XEC.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF0.32%6.02BMar 2019XEM.TO vs XSEM.TO

Best Risk-Adjusted Alternatives to XEM.TO

XEM.TO has a PortfoliosLab risk / return rank of 68. There are 2 ETFs in the Emerging Markets Equities category with higher risk-adjusted ranks, going as high as 74.

SymbolNameRisk / Return RankAUMInception
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF
74
93.90MMay 2016XEM.TO vs ZLE.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF
71
—Apr 2009XEM.TO vs CWO.NEO
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Ca...
66
7.21MMay 2024XEM.TO vs EMCL.NEO
XEC.TO
iShares Core MSCI Emerging Markets IMI Index ETF
66
4.49BApr 2013XEM.TO vs XEC.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
65
3.37BOct 2009XEM.TO vs ZEM.TO

Top Performing XEM.TO Alternatives (YTD)

XEM.TO is at 24.24% YTD. There are 3 ETFs in the Emerging Markets Equities category with higher YTD returns, going as high as 27.05%.

SymbolNameYTD ReturnAUMInception
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF
27.05%
93.90MMay 2016XEM.TO vs ZLE.TO
DRFE.TO
Desjardins RI Emerging Markets Multifactor - Net-Z...
24.33%
329.97MMar 2019XEM.TO vs DRFE.TO
ZEM.TO
BMO MSCI Emerging Markets Index ETF
24.31%
3.37BOct 2009XEM.TO vs ZEM.TO
EMCL.NEO
Global X Enhanced MSCI Emerging Markets Covered Ca...
24.18%
7.21MMay 2024XEM.TO vs EMCL.NEO
HXEM.TO
Global X Emerging Markets Equity Index Corporate C...
23.89%
209.53MAug 2020XEM.TO vs HXEM.TO

Lowest Volatility Alternatives to XEM.TO

XEM.TO has 24.14% 1-year volatility. There are 6 ETFs in the Emerging Markets Equities category with lower 1-year volatility, going as low as 16.15%.

SymbolNameVolatility 1YAUMInception
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF16.15%115.96MJul 2012XEM.TO vs XMM.TO
CWO.NEO
iShares Emerging Markets Fundamental Index ETF16.70%—Apr 2009XEM.TO vs CWO.NEO
VEE.TO
Vanguard FTSE Emerging Markets All Cap Index ETF17.50%4.45BNov 2011XEM.TO vs VEE.TO
ZLE.TO
BMO Low Volatility Emerging Markets Equity ETF19.31%93.90MMay 2016XEM.TO vs ZLE.TO
DRFE.TO
Desjardins RI Emerging Markets Multifactor - Net-Z...21.96%329.97MMar 2019XEM.TO vs DRFE.TO

Lowest Drawdown Alternatives to XEM.TO

XEM.TO has a 1-year max drawdown of -14.90%. There are 8 ETFs in the Emerging Markets Equities category with shallower 1-year drawdowns, going as shallow as -10.09%.

SymbolNameMax Drawdown 1YAUMInception
XMM.TO
iShares MSCI Min Vol Emerging Markets Index ETF
-10.09%
115.96MJul 2012XEM.TO vs XMM.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
DRFE.TO
Desjardins RI Emerging Markets Multifactor - Net-Z...
-13.03%
329.97MMar 2019XEM.TO vs DRFE.TO
XSEM.TO
iShares ESG Aware MSCI Emerging Markets Index ETF
-13.82%
6.02BMar 2019XEM.TO vs XSEM.TO

Other ETFs from iShares

The 10 most viewed iShares ETFs shown here include XEQT.TO, XDIV.TO, XEI.TO and span 9 categories. AUM among these funds goes as high as $32B.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
XEQT.TO
iShares Core Equity ETF PortfolioGlobal Equities
89
16.44%
20.80BAug 2019XEM.TO vs XEQT.TO
XDIV.TO
iShares Core MSCI Canadian Quality Dividend Index ...Quality Factor, Dividend, Large Cap Value Equities
98
28.81%
6.16BJun 2017XEM.TO vs XDIV.TO
XEI.TO
iShares S&P/TSX Composite High Dividend Index ETFCanada Equities
98
27.19%
4.38BApr 2011XEM.TO vs XEI.TO
XIC.TO
iShares Core S&P/TSX Capped Composite Index ETFCanada Equities
91
14.37%
31.79BFeb 2001XEM.TO vs XIC.TO
XIU.TO
iShares S&P/TSX 60 Index ETFCanada Equities
93
14.92%
24.26BSep 1999XEM.TO vs XIU.TO
XQQ.TO
iShares NASDAQ 100 Index ETF (CAD-Hedged)Nasdaq-100
44
16.30%
5.26BMay 2011XEM.TO vs XQQ.TO
XEF.TO
iShares Core MSCI EAFE IMI Index ETFForeign Large Cap Equities
74
15.99%
23.06BApr 2013XEM.TO vs XEF.TO
XGRO.TO
iShares Core Growth ETF PortfolioDiversified Portfolio
80
13.36%
5.04BJun 2007XEM.TO vs XGRO.TO
XUS.TO
iShares Core S&P 500 Index ETFS&P 500
83
16.44%
12.96BApr 2013XEM.TO vs XUS.TO
XAW.TO
iShares Core MSCI All Country World ex Canada Inde...Global Equities
85
17.46%
4.43BFeb 2015XEM.TO vs XAW.TO

Often Compared With XEM.TO

Investors most often compare XEM.TO with ZEA.TO, VOO, VXC.TO. These 20 comparison targets span 16 categories, based on PortfoliosLab usage data.

SymbolNameCategoryRisk / Return RankYTD ReturnAUMInception
ZEA.TO
BMO MSCI EAFE Index ETFForeign Large Cap Equities
75
16.24%
13.47BFeb 2014XEM.TO vs ZEA.TO
VOO
Vanguard S&P 500 ETFS&P 500
72
13.74%
1.70TSep 2010XEM.TO vs VOO
VXC.TO
Vanguard FTSE Global All Cap ex Canada Index ETFGlobal Equities
84
17.16%
3.47BJun 2014XEM.TO vs VXC.TO
ZLB.TO
BMO Low Volatility Canadian Equity ETFCanada Equities, Low Volatility
55
8.36%
6.27BOct 2011XEM.TO vs ZLB.TO
VFV.TO
Vanguard S&P 500 Index ETFS&P 500
83
16.57%
34.09BNov 2012XEM.TO vs VFV.TO
VSGX
Vanguard ESG International Stock ETFForeign Large Cap Equities, ESG
60
16.24%
6.70BSep 2018XEM.TO vs VSGX
EMHY
iShares J.P. Morgan EM High Yield Bond ETFEmerging Markets Bonds
68
3.72%
623.37MApr 2012XEM.TO vs EMHY
EEM
iShares MSCI Emerging Markets ETFEmerging Markets Equities
60
21.26%
29.16BApr 2003XEM.TO vs EEM
ZEQ.TO
BMO MSCI Europe High Quality Hedged to CAD Index E...Quality Factor, Europe Equities
48
8.85%
315.65MFeb 2014XEM.TO vs ZEQ.TO
QQQ
Invesco QQQ ETFNasdaq-100
55
18.11%
452.80BMar 1999XEM.TO vs QQQ
VXUS
Vanguard Total International Stock ETFGlobal Equities
66
15.23%
651.00BJan 2011XEM.TO vs VXUS
XEMC.TO
iShares MSCI Emerging Markets ex China Index ETFEmerging Markets Equities
80
35.28%
—Feb 2023XEM.TO vs XEMC.TO
VIU.TO
Vanguard FTSE Developed All Cap ex North America I...Foreign Large Cap Equities, Foreign Small & Mid Cap Equities
78
19.59%
11.04BDec 2015XEM.TO vs VIU.TO
XEU.TO
iShares MSCI Europe IMI Index ETFEurope Equities
67
13.95%
692.24MApr 2014XEM.TO vs XEU.TO
XID.TO
iShares India Index ETFIndia Equities, Asia Pacific Equities
6
-7.32%
136.70MJan 2010XEM.TO vs XID.TO
VDY.TO
Vanguard FTSE Canadian High Dividend Yield Index E...Dividend
99
28.23%
8.59BNov 2012XEM.TO vs VDY.TO
QQC.TO
Invesco NASDAQ 100 Index ETF CAD HedgedNasdaq-100
66
20.90%
3.73BMay 2021XEM.TO vs QQC.TO
IS3S.DE
iShares Edge MSCI World Value Factor UCITS ETFGlobal Equities
97
35.15%
—Oct 2014XEM.TO vs IS3S.DE
XSP.TO
iShares Core S&P 500 Index ETF (CAD-Hedged)S&P 500
67
12.01%
15.62BMay 2001XEM.TO vs XSP.TO
XCH.TO
iShares China Index ETFChina Equities, Asia Pacific Equities
12
-2.17%
195.54MJan 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