BTC-USD vs. EMXC
BTC-USD (Bitcoin) is a cryptocurrency, while EMXC (iShares MSCI Emerging Markets ex China ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Over the past 5 years, BTC-USD returned 10.82%/yr vs 11.46%/yr for EMXC. At a 0.19 correlation, their price movements are largely independent.
Performance
BTC-USD vs. EMXC - Performance Comparison
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Returns By Period
In the year-to-date period, BTC-USD achieves a -28.54% return, which is significantly lower than EMXC's 32.33% return.
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
EMXC
- 1D
- 2.43%
- 1M
- -1.88%
- YTD
- 32.33%
- 6M
- 36.39%
- 1Y
- 62.72%
- 3Y*
- 25.41%
- 5Y*
- 11.46%
- 10Y*
- —
BTC-USD vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 448.82% |
EMXC iShares MSCI Emerging Markets ex China ETF | 32.33% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.01% |
Correlation
The correlation between BTC-USD and EMXC is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.34 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 27, 2017 | 0.19 |
The correlation between BTC-USD and EMXC shifts across timeframes, from 0.19 (all time) to 0.34 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BTC-USD vs. EMXC — Risk / Return Rank
BTC-USD
EMXC
BTC-USD vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Bitcoin (BTC-USD) and iShares MSCI Emerging Markets ex China ETF (EMXC). 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.
| BTC-USD | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.67 | ||
| Sortino ratioReturn per unit of downside risk | -4.63 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.50 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 4.37 | -5.17 |
| Martin ratioReturn relative to average drawdown | -1.42 | 17.27 | -18.69 |
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
| BTC-USD | EMXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.95 | 2.71 | -3.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.65 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.50 | +0.63 |
Drawdowns
BTC-USD vs. EMXC - Drawdown Comparison
The maximum BTC-USD drawdown since its inception was -85.30%, which is greater than EMXC's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for BTC-USD and EMXC.
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Drawdown Indicators
| BTC-USD | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.30% | -42.81% | -42.49% |
Max Drawdown (1Y)Largest decline over 1 year | -51.21% | -14.41% | -36.80% |
Max Drawdown (3Y)Largest decline over 3 years | -51.21% | -19.12% | -32.09% |
Max Drawdown (5Y)Largest decline over 5 years | -76.67% | -28.91% | -47.76% |
Max Drawdown (10Y)Largest decline over 10 years | -83.80% | — | — |
Current DrawdownCurrent decline from peak | -49.86% | -7.55% | -42.31% |
Average DrawdownAverage peak-to-trough decline | -42.32% | -10.19% | -32.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.46% | 3.64% | +30.82% |
Volatility
BTC-USD vs. EMXC - Volatility Comparison
The current volatility for Bitcoin (BTC-USD) is 11.59%, while iShares MSCI Emerging Markets ex China ETF (EMXC) has a volatility of 12.57%. This indicates that BTC-USD experiences smaller price fluctuations and is considered to be less risky than EMXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTC-USD | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.59% | 12.57% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 34.53% | 21.20% | +13.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.67% | 23.27% | +12.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.95% | 17.82% | +27.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 56.71% | 19.99% | +36.72% |
Frequently Asked Questions
BTC-USD and EMXC have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (12.57%) compared to BTC-USD (11.59%). In terms of maximum drawdown, BTC-USD dropped -85.30% vs EMXC's -42.81%.
EMXC currently has the higher Sharpe Ratio (2.71 vs -0.95), 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.
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