CN vs. EMCR

Last updated Jun 5, 2026

CN (Xtrackers MSCI All China Equity ETF) and EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) are both exchange-traded funds - CN is a China Equities fund tracking the MSCI China All Shares, while EMCR is a Emerging Markets Equities fund tracking the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. CN charges 0.50%/yr vs 0.15%/yr for EMCR.

Performance

CN vs. EMCR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI All China Equity ETF (CN) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMCR

• 1D: -0.87%
• 1M: 5.56%
• YTD: 22.13%
• 6M: 24.53%
• 1Y: 47.15%
• 3Y*: 23.37%
• 5Y*: 8.83%
• 10Y*: —

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

CN vs. EMCR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-5.63%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	22.13%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-1.76%

Correlation

The correlation between CN and EMCR is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.65

The correlation between CN and EMCR shifts across timeframes, from 0.38 (3 years) to 0.65 (all time), reflecting how their relationship changes across market environments.

CN vs. EMCR - Sectors Allocation Comparison

Sectors	CN	EMCR
Financial Services	55.1%	20.7%
Consumer Cyclical	5.4%	10.6%
Industrials	1.0%	6.7%
Energy	0.9%	0.1%
Real Estate	0.8%	1.8%
Healthcare	0.8%	5.6%
Basic Materials	0.6%	3.9%
Communication Services	0.4%	9.9%
Technology	0.3%	36.2%
Consumer Defensive	0.3%	2.8%
Utilities	0.2%	1.5%

Return for Risk

CN vs. EMCR — Risk / Return Rank

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

EMCR

EMCR Risk / Return Rank: 73
EMCR Sharpe Ratio Rank: 76
EMCR Sortino Ratio Rank: 71
EMCR Omega Ratio Rank: 75
EMCR Calmar Ratio Rank: 70
EMCR Martin Ratio Rank: 71

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.

CN vs. EMCR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI All China Equity ETF (CN) and Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	CN	EMCR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.42	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.60	—

Drawdowns

Drawdown Indicators

	CN	EMCR	Difference
Max Drawdown Largest peak-to-trough decline	—	-34.28%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.84%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.28%	—
Current Drawdown Current decline from peak	—	-2.21%	—
Average Drawdown Average peak-to-trough decline	—	-9.33%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.61%	—

Volatility

Volatility by Period

	CN	EMCR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	19.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.29%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.86%	—

CN vs. EMCR - Expense Ratio Comparison

CN has a 0.50% expense ratio, which is higher than EMCR's 0.15% expense ratio.

Dividends

CN vs. EMCR - Dividend Comparison

CN has not paid dividends to shareholders, while EMCR's dividend yield for the trailing twelve months is around 1.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.99%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CN and EMCR in my portfolio?

CN and EMCR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CN or EMCR?

On fees, EMCR is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CN or EMCR?

EMCR is cheaper with a 0.15% expense ratio, compared with 0.50% for CN.

Which ETF pays a higher dividend yield, CN or EMCR?

EMCR has the higher dividend yield at 1.99%, compared with 0.00% for CN.

What is the main difference between CN and EMCR?

CN is categorized as China Equities, while EMCR is Emerging Markets Equities. CN tracks MSCI China All Shares, while EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net. Their fees differ too: 0.50% for CN and 0.15% for EMCR.