AVXC vs. XEMC.TO
AVXC (Avantis Emerging Markets ex-China Equity ETF) and XEMC.TO (iShares MSCI Emerging Markets ex China Index ETF) are both exchange-traded funds - AVXC is a Emerging Markets Diversified fund actively managed by Avantis, while XEMC.TO is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index (Net). AVXC is actively managed, while XEMC.TO is passively managed. Over the past year, AVXC returned 43.89% vs 51.63% for XEMC.TO. Their correlation of 0.80 suggests significant overlap in exposure. AVXC charges 0.33%/yr vs 0.25%/yr for XEMC.TO.
Performance
AVXC vs. XEMC.TO - Performance Comparison
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Different Trading Currencies
AVXC is traded in USD, while XEMC.TO is traded in CAD. To make them comparable, the XEMC.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, AVXC achieves a 26.22% return, which is significantly lower than XEMC.TO's 30.15% return.
AVXC
- 1D
- -3.47%
- 1M
- -4.01%
- 6M
- 20.63%
- YTD
- 26.22%
- 1Y
- 43.89%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEMC.TO
- 1D
- -4.20%
- 1M
- -5.06%
- 6M
- 23.95%
- YTD
- 30.15%
- 1Y
- 51.63%
- 3Y*
- 23.06%
- 5Y*
- —
- 10Y*
- —
AVXC vs. XEMC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVXC Avantis Emerging Markets ex-China Equity ETF | 26.22% | 31.45% | -1.26% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 30.15% | 34.41% | -0.25% |
Correlation
The correlation between AVXC and XEMC.TO is 0.87, 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 | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024 | 0.80 |
The correlation between AVXC and XEMC.TO has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.
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Return for Risk
AVXC vs. XEMC.TO — Risk / Return Rank
AVXC
XEMC.TO
AVXC vs. XEMC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets ex-China Equity ETF (AVXC) and iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AVXC | XEMC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.17 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.14 | 3.61 | -0.47 |
| Martin ratioReturn relative to average drawdown | 11.31 | 12.71 | -1.40 |
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Drawdowns
AVXC vs. XEMC.TO - Drawdown Comparison
The maximum AVXC drawdown since its inception was -20.44%, which is greater than XEMC.TO's maximum drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for AVXC and XEMC.TO.
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Drawdown Indicators
| AVXC | XEMC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -19.09% | -1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -14.36% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.09% | — |
Current DrawdownCurrent decline from peak | -9.47% | -11.41% | +1.94% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -3.55% | -0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.89% | 4.07% | -0.18% |
Volatility
AVXC vs. XEMC.TO - Volatility Comparison
Avantis Emerging Markets ex-China Equity ETF (AVXC) and iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) have volatilities of 12.18% and 12.04%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AVXC | XEMC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.18% | 12.04% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 22.40% | 23.96% | -1.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.09% | 25.88% | -1.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.25% | 18.36% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.25% | 18.36% | +1.89% |
AVXC vs. XEMC.TO - Expense Ratio Comparison
AVXC has a 0.33% expense ratio, which is higher than XEMC.TO's 0.25% expense ratio.
Dividends
AVXC vs. XEMC.TO - Dividend Comparison
AVXC's dividend yield for the trailing twelve months is around 1.67%, less than XEMC.TO's 1.76% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AVXC Avantis Emerging Markets ex-China Equity ETF | 1.67% | 1.97% | 1.34% | 0.00% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 1.76% | 2.48% | 2.28% | 1.67% |
Frequently Asked Questions
AVXC and XEMC.TO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XEMC.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XEMC.TO is cheaper with a 0.25% expense ratio, compared with 0.33% for AVXC.
AVXC is categorized as Emerging Markets Diversified, while XEMC.TO is Emerging Markets Equities. They also come from different issuers: Avantis and iShares. Their fees differ too: 0.33% for AVXC and 0.25% for XEMC.TO.
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