CAT vs. EMXC
CAT (Caterpillar Inc.) is a stock, 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, CAT returned 36.30%/yr vs 13.21%/yr for EMXC. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
CAT vs. EMXC - Performance Comparison
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Returns By Period
In the year-to-date period, CAT achieves a 63.72% return, which is significantly higher than EMXC's 42.50% return.
CAT
- 1D
- 2.57%
- 1M
- 5.14%
- YTD
- 63.72%
- 6M
- 59.03%
- 1Y
- 164.40%
- 3Y*
- 58.53%
- 5Y*
- 36.30%
- 10Y*
- 31.48%
EMXC
- 1D
- 3.83%
- 1M
- 10.65%
- YTD
- 42.50%
- 6M
- 47.59%
- 1Y
- 74.22%
- 3Y*
- 27.88%
- 5Y*
- 13.21%
- 10Y*
- —
CAT vs. EMXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 63.72% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -17.56% | 38.40% |
EMXC iShares MSCI Emerging Markets ex China ETF | 42.50% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.16% |
Correlation
The correlation between CAT and EMXC is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017 | 0.52 |
The correlation between CAT and EMXC has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.
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Return for Risk
CAT vs. EMXC — Risk / Return Rank
CAT
EMXC
CAT vs. EMXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Caterpillar Inc. (CAT) 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.
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.
| CAT | EMXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.56 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 11.92 | 5.18 | +6.74 |
| Martin ratioReturn relative to average drawdown | 39.03 | 19.92 | +19.11 |
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Drawdowns
CAT vs. EMXC - Drawdown Comparison
The maximum CAT drawdown since its inception was -73.43%, which is greater than EMXC's maximum drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for CAT and EMXC.
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Drawdown Indicators
| CAT | EMXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.43% | -42.81% | -30.62% |
Max Drawdown (1Y)Largest decline over 1 year | -13.88% | -14.41% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -34.05% | -19.12% | -14.93% |
Max Drawdown (5Y)Largest decline over 5 years | -34.05% | -28.91% | -5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -43.36% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -0.45% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -19.73% | -10.17% | -9.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.23% | 3.74% | +0.49% |
Volatility
CAT vs. EMXC - Volatility Comparison
Caterpillar Inc. (CAT) and iShares MSCI Emerging Markets ex China ETF (EMXC) have volatilities of 13.25% and 13.30%, 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
| CAT | EMXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.25% | 13.30% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 28.43% | 22.16% | +6.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.28% | 24.16% | +11.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.82% | 18.08% | +12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.00% | 20.10% | +10.90% |
Dividends
CAT vs. EMXC - Dividend Comparison
CAT's dividend yield for the trailing twelve months is around 0.65%, less than EMXC's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.65% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
EMXC iShares MSCI Emerging Markets ex China ETF | 2.56% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% | 0.00% |
Frequently Asked Questions
CAT and EMXC have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (13.30%) compared to CAT (13.25%). In terms of maximum drawdown, CAT dropped -73.43% vs EMXC's -42.81%.
CAT currently has the higher Sharpe Ratio (4.70 vs 3.09), 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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