AEMD.L vs. EMXC.L

Last updated Jun 5, 2026

AEMD.L (Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D)) and EMXC.L (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) are both Emerging Markets Equities funds from Amundi tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, AEMD.L returned 5.91%/yr vs 12.71%/yr for EMXC.L. A 0.79 correlation means they provide meaningful diversification when combined. AEMD.L charges 0.20%/yr vs 0.15%/yr for EMXC.L.

Performance

AEMD.L vs. EMXC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.L) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

AEMD.L is traded in GBp, while EMXC.L is traded in EUR. To make them comparable, the EMXC.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, AEMD.L achieves a 26.52% return, which is significantly lower than EMXC.L's 36.84% return.

AEMD.L

• 1D: -1.67%
• 1M: 4.11%
• YTD: 26.52%
• 6M: 24.48%
• 1Y: 50.35%
• 3Y*: 18.11%
• 5Y*: 5.91%
• 10Y*: —

EMXC.L

• 1D: -1.72%
• 1M: 4.40%
• YTD: 36.84%
• 6M: 40.89%
• 1Y: 73.85%
• 3Y*: 28.70%
• 5Y*: 12.71%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AEMD.L vs. EMXC.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AEMD.L Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D)	26.52%	23.45%	6.02%	0.02%	-13.08%	-4.36%	12.63%	-1.26%
EMXC.L Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc	36.84%	42.48%	-1.55%	16.26%	-14.35%	1.73%	19.53%	-1.34%

Correlation

The correlation between AEMD.L and EMXC.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jul 11, 2019	0.79

The correlation between AEMD.L and EMXC.L has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

AEMD.L vs. EMXC.L - Sectors Allocation Comparison

Sectors	AEMD.L	EMXC.L
Technology	41.4%	45.0%
Financial Services	18.2%	19.6%
Consumer Cyclical	9.0%	4.5%
Industrials	7.0%	8.3%
Communication Services	6.4%	3.4%
Basic Materials	6.0%	6.9%
Energy	3.7%	4.2%
Consumer Defensive	2.8%	2.9%
Healthcare	2.7%	2.2%
Utilities	2.0%	2.3%
Real Estate	1.0%	0.9%

Return for Risk

AEMD.L vs. EMXC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEMD.L

AEMD.L Risk / Return Rank: 86
AEMD.L Sharpe Ratio Rank: 90
AEMD.L Sortino Ratio Rank: 87
AEMD.L Omega Ratio Rank: 89
AEMD.L Calmar Ratio Rank: 84
AEMD.L Martin Ratio Rank: 79

EMXC.L

EMXC.L Risk / Return Rank: 90
EMXC.L Sharpe Ratio Rank: 92
EMXC.L Sortino Ratio Rank: 90
EMXC.L Omega Ratio Rank: 90
EMXC.L Calmar Ratio Rank: 88
EMXC.L Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AEMD.L vs. EMXC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.L) and Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AEMD.L	EMXC.L	Difference
Sharpe ratio: Return per unit of total volatility	3.01	3.53	-0.52
Sortino ratio: Return per unit of downside risk	3.86	4.29	-0.43
Omega ratio: Gain probability vs. loss probability	1.55	1.63	-0.08
Calmar ratio: Return relative to maximum drawdown	4.51	5.28	-0.77
Martin ratio: Return relative to average drawdown	15.32	19.96	-4.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEMD.L vs. EMXC.L - Sharpe Ratio Comparison

The current AEMD.L Sharpe Ratio is 3.01, which is comparable to the EMXC.L Sharpe Ratio of 3.53. The chart below compares the historical Sharpe Ratios of AEMD.L and EMXC.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEMD.L	EMXC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.01	3.53	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.72	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.64	-0.23

Drawdowns

AEMD.L vs. EMXC.L - Drawdown Comparison

The maximum AEMD.L drawdown since its inception was -29.09%, smaller than the maximum EMXC.L drawdown of -35.29%. Use the drawdown chart below to compare losses from any high point for AEMD.L and EMXC.L.

Drawdown Indicators

	AEMD.L	EMXC.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.09%	-35.29%	+6.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-14.33%	+2.95%
Max Drawdown (3Y) Largest decline over 3 years	-17.09%	-18.37%	+1.28%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-27.39%	+1.83%
Current Drawdown Current decline from peak	-2.46%	-2.69%	+0.23%
Average Drawdown Average peak-to-trough decline	-13.65%	-8.63%	-5.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	3.80%	-0.44%

Volatility

AEMD.L vs. EMXC.L - Volatility Comparison

The current volatility for Amundi Index MSCI Emerging Markets UCITS ETF DR EUR (D) (AEMD.L) is 7.48%, while Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.L) has a volatility of 9.64%. This indicates that AEMD.L experiences smaller price fluctuations and is considered to be less risky than EMXC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEMD.L	EMXC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.48%	9.64%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	14.63%	19.08%	-4.45%
Volatility (1Y) Calculated over the trailing 1-year period	17.06%	21.45%	-4.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.40%	17.70%	-1.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.39%	20.18%	-1.79%

AEMD.L vs. EMXC.L - Expense Ratio Comparison

AEMD.L has a 0.20% expense ratio, which is higher than EMXC.L's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AEMD.L vs. EMXC.L - Dividend Comparison

Neither AEMD.L nor EMXC.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AEMD.L and EMXC.L in my portfolio?

AEMD.L and EMXC.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AEMD.L or EMXC.L?

On fees, EMXC.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AEMD.L or EMXC.L?

EMXC.L is cheaper with a 0.15% expense ratio, compared with 0.20% for AEMD.L.

What is the main difference between AEMD.L and EMXC.L?

Both ETFs track MSCI EM NR USD. Their fees differ too: 0.20% for AEMD.L and 0.15% for EMXC.L.