AGEM vs. EMCS

Last updated Jun 4, 2026

AGEM (abrdn Emerging Markets Dividend Active ETF) and EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) are both Emerging Markets Equities funds. AGEM is actively managed, while EMCS is passively managed. Over the past year, AGEM returned 63.11% vs 64.32% for EMCS. Their correlation of 0.92 suggests significant overlap in exposure. AGEM charges 0.70%/yr vs 0.15%/yr for EMCS.

Performance

AGEM vs. EMCS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Emerging Markets Dividend Active ETF (AGEM) and Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGEM achieves a 31.54% return, which is significantly lower than EMCS's 33.83% return.

AGEM

• 1D: -1.46%
• 1M: 8.91%
• YTD: 31.54%
• 6M: 33.66%
• 1Y: 63.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMCS

• 1D: -1.20%
• 1M: 13.15%
• YTD: 33.83%
• 6M: 37.78%
• 1Y: 64.32%
• 3Y*: 27.65%
• 5Y*: 7.95%
• 10Y*: —

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

AGEM vs. EMCS - Yearly Performance Comparison

	2026 (YTD)	2025
AGEM abrdn Emerging Markets Dividend Active ETF	31.54%	29.81%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	33.83%	26.76%

Correlation

The correlation between AGEM and EMCS is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.92

The correlation between AGEM and EMCS has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

AGEM vs. EMCS — Risk / Return Rank

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

AGEM

AGEM Risk / Return Rank: 87
AGEM Sharpe Ratio Rank: 91
AGEM Sortino Ratio Rank: 88
AGEM Omega Ratio Rank: 88
AGEM Calmar Ratio Rank: 84
AGEM Martin Ratio Rank: 85

EMCS

EMCS Risk / Return Rank: 85
EMCS Sharpe Ratio Rank: 87
EMCS Sortino Ratio Rank: 83
EMCS Omega Ratio Rank: 85
EMCS Calmar Ratio Rank: 84
EMCS Martin Ratio Rank: 85

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.

AGEM vs. EMCS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Emerging Markets Dividend Active ETF (AGEM) and Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS). 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.

	AGEM	EMCS	Difference
Sharpe ratio: Return per unit of total volatility	3.15	2.89	+0.26
Sortino ratio: Return per unit of downside risk	3.97	3.70	+0.27
Omega ratio: Gain probability vs. loss probability	1.56	1.52	+0.04
Calmar ratio: Return relative to maximum drawdown	4.56	4.51	+0.04
Martin ratio: Return relative to average drawdown	17.79	17.47	+0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AGEM vs. EMCS - Sharpe Ratio Comparison

The current AGEM Sharpe Ratio is 3.15, which is comparable to the EMCS Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of AGEM and EMCS, 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

	AGEM	EMCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.15	2.89	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.41	0.55	+1.87

Drawdowns

AGEM vs. EMCS - Drawdown Comparison

The maximum AGEM drawdown since its inception was -15.58%, smaller than the maximum EMCS drawdown of -44.86%. Use the drawdown chart below to compare losses from any high point for AGEM and EMCS.

Drawdown Indicators

	AGEM	EMCS	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-44.86%	+29.28%
Max Drawdown (1Y) Largest decline over 1 year	-13.92%	-14.32%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.73%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.06%	—
Current Drawdown Current decline from peak	-1.46%	-1.20%	-0.26%
Average Drawdown Average peak-to-trough decline	-2.23%	-16.61%	+14.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	3.69%	-0.13%

Volatility

AGEM vs. EMCS - Volatility Comparison

The current volatility for abrdn Emerging Markets Dividend Active ETF (AGEM) is 9.15%, while Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a volatility of 9.86%. This indicates that AGEM experiences smaller price fluctuations and is considered to be less risky than EMCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGEM	EMCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.15%	9.86%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	17.67%	19.42%	-1.75%
Volatility (1Y) Calculated over the trailing 1-year period	20.15%	22.37%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	20.62%	+0.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.51%	21.65%	-0.14%

AGEM vs. EMCS - Expense Ratio Comparison

AGEM has a 0.70% expense ratio, which is higher than EMCS's 0.15% expense ratio.

Dividends

AGEM vs. EMCS - Dividend Comparison

AGEM's dividend yield for the trailing twelve months is around 1.71%, more than EMCS's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AGEM abrdn Emerging Markets Dividend Active ETF	1.71%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	1.24%	1.66%	0.67%	3.07%	2.26%	1.46%	1.40%	3.56%

Frequently Asked Questions

Can I hold both AGEM and EMCS in my portfolio?

With a correlation of 0.94, AGEM and EMCS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AGEM or EMCS?

EMCS has higher volatility (9.86%) compared to AGEM (9.15%). In terms of maximum drawdown, AGEM dropped -15.58% vs EMCS's -44.86%.

Which ETF is better, AGEM or EMCS?

On 1-year performance, EMCS leads with 64.32% vs 63.11% for AGEM. On fees, EMCS is cheaper at 0.15% per year. On volatility, AGEM has been the lower-risk option at 9.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGEM or EMCS?

Over the 1-year period, EMCS has performed better with a 64.32% return vs 63.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGEM or EMCS?

EMCS is cheaper with a 0.15% expense ratio, compared with 0.70% for AGEM.

Which ETF pays a higher dividend yield, AGEM or EMCS?

AGEM has the higher dividend yield at 1.71%, compared with 1.24% for EMCS.

What is the main difference between AGEM and EMCS?

They also come from different issuers: abrdn and Xtrackers. Their fees differ too: 0.70% for AGEM and 0.15% for EMCS.

Which has better risk-adjusted returns?

AGEM currently has the higher Sharpe Ratio (3.15 vs 2.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.