AXQT.DE vs. XEMC.TO
AXQT.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc) and XEMC.TO (iShares MSCI Emerging Markets ex China Index ETF) are both Emerging Markets Equities funds - AXQT.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned while XEMC.TO tracks the MSCI Emerging Markets ex China Index (Net). Both are passively managed. Over the past year, AXQT.DE returned 69.43% vs 69.78% for XEMC.TO. A 0.70 correlation means they provide meaningful diversification when combined. AXQT.DE charges 0.27%/yr vs 0.25%/yr for XEMC.TO.
Performance
AXQT.DE vs. XEMC.TO - Performance Comparison
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Different Trading Currencies
AXQT.DE is traded in EUR, while XEMC.TO is traded in CAD. To make them comparable, the XEMC.TO values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with AXQT.DE having a 40.98% return and XEMC.TO slightly higher at 41.53%.
AXQT.DE
- 1D
- -0.87%
- 1M
- 7.44%
- YTD
- 40.98%
- 6M
- 44.68%
- 1Y
- 69.43%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XEMC.TO
- 1D
- -1.53%
- 1M
- 8.93%
- YTD
- 41.53%
- 6M
- 45.12%
- 1Y
- 69.78%
- 3Y*
- 24.55%
- 5Y*
- —
- 10Y*
- —
AXQT.DE vs. XEMC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc | 40.98% | 15.03% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 41.53% | 15.55% |
Correlation
The correlation between AXQT.DE and XEMC.TO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025 | 0.70 |
The correlation between AXQT.DE and XEMC.TO has been stable across timeframes, ranging from 0.70 to 0.72 - a consistent structural relationship.
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Return for Risk
AXQT.DE vs. XEMC.TO — Risk / Return Rank
AXQT.DE
XEMC.TO
AXQT.DE vs. XEMC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) 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.
| AXQT.DE | XEMC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.61 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 6.01 | 5.82 | +0.19 |
| Martin ratioReturn relative to average drawdown | 22.04 | 22.98 | -0.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AXQT.DE | XEMC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.62 | 3.48 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.20 | 1.42 | +0.78 |
Drawdowns
AXQT.DE vs. XEMC.TO - Drawdown Comparison
The maximum AXQT.DE drawdown since its inception was -18.65%, roughly equal to the maximum XEMC.TO drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for AXQT.DE and XEMC.TO.
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Drawdown Indicators
| AXQT.DE | XEMC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.65% | -18.41% | -0.24% |
Max Drawdown (1Y)Largest decline over 1 year | -11.49% | -12.04% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.41% | — |
Current DrawdownCurrent decline from peak | -2.23% | -2.14% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -2.73% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.14% | 3.05% | +0.09% |
Volatility
AXQT.DE vs. XEMC.TO - Volatility Comparison
AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) and iShares MSCI Emerging Markets ex China Index ETF (XEMC.TO) have volatilities of 8.70% and 8.50%, 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
| AXQT.DE | XEMC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.70% | 8.50% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 16.43% | 17.61% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.11% | 20.16% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.01% | 16.54% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.01% | 16.54% | +3.47% |
AXQT.DE vs. XEMC.TO - Expense Ratio Comparison
AXQT.DE has a 0.27% expense ratio, which is higher than XEMC.TO's 0.25% 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
AXQT.DE vs. XEMC.TO - Dividend Comparison
AXQT.DE has not paid dividends to shareholders, while XEMC.TO's dividend yield for the trailing twelve months is around 1.75%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc | 0.00% | 0.00% | 0.00% | 0.00% |
XEMC.TO iShares MSCI Emerging Markets ex China Index ETF | 1.75% | 2.48% | 2.28% | 1.67% |
Frequently Asked Questions
AXQT.DE and XEMC.TO have a correlation of 0.72, 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 0.27% for AXQT.DE.
AXQT.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned, while XEMC.TO tracks MSCI Emerging Markets ex China Index (Net). They also come from different issuers: AXA IM and iShares. Their fees differ too: 0.27% for AXQT.DE and 0.25% for XEMC.TO.
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