DEXC vs. EMSF

Last updated Jun 23, 2026

DEXC (Dimensional Emerging Markets ex China Core Equity ETF) and EMSF (Matthews Emerging Markets Sustainable Future Active ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past year, DEXC returned 67.47% vs 70.16% for EMSF. Their correlation of 0.88 suggests significant overlap in exposure. DEXC charges 0.43%/yr vs 0.79%/yr for EMSF.

Performance

DEXC vs. EMSF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Emerging Markets ex China Core Equity ETF (DEXC) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEXC achieves a 42.49% return, which is significantly lower than EMSF's 54.93% return.

DEXC

• 1D: 0.62%
• 1M: 10.70%
• YTD: 42.49%
• 6M: 44.98%
• 1Y: 67.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EMSF

• 1D: 2.13%
• 1M: 12.23%
• YTD: 54.93%
• 6M: 56.33%
• 1Y: 70.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEXC vs. EMSF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DEXC Dimensional Emerging Markets ex China Core Equity ETF	42.49%	27.13%	-1.63%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	54.93%	19.20%	-2.83%

Correlation

The correlation between DEXC and EMSF is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Nov 14, 2024	0.88

The correlation between DEXC and EMSF has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

DEXC vs. EMSF — Risk / Return Rank

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

DEXC

DEXC Risk / Return Rank: 89
DEXC Sharpe Ratio Rank: 91
DEXC Sortino Ratio Rank: 86
DEXC Omega Ratio Rank: 90
DEXC Calmar Ratio Rank: 89
DEXC Martin Ratio Rank: 90

EMSF

EMSF Risk / Return Rank: 81
EMSF Sharpe Ratio Rank: 83
EMSF Sortino Ratio Rank: 74
EMSF Omega Ratio Rank: 79
EMSF Calmar Ratio Rank: 87
EMSF Martin Ratio Rank: 81

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.

DEXC vs. EMSF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Emerging Markets ex China Core Equity ETF (DEXC) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF). 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.

	DEXC	EMSF	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.57	+0.40
Sortino ratio: Return per unit of downside risk	3.69	3.15	+0.54
Omega ratio: Gain probability vs. loss probability	1.55	1.45	+0.11
Calmar ratio: Return relative to maximum drawdown	5.27	4.84	+0.43
Martin ratio: Return relative to average drawdown	20.09	15.83	+4.26

DEXC vs. EMSF - Sharpe Ratio Comparison

The current DEXC Sharpe Ratio is 2.97, which is comparable to the EMSF Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of DEXC and EMSF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DEXC vs. EMSF - Drawdown Comparison

The maximum DEXC drawdown since its inception was -15.07%, smaller than the maximum EMSF drawdown of -24.75%. Use the drawdown chart below to compare losses from any high point for DEXC and EMSF.

Drawdown Indicators

	DEXC	EMSF	Difference
Max Drawdown Largest peak-to-trough decline	-15.07%	-24.75%	+9.68%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-14.57%	+1.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.44%	-5.72%	+3.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	4.45%	-1.08%

Volatility

DEXC vs. EMSF - Volatility Comparison

Dimensional Emerging Markets ex China Core Equity ETF (DEXC) and Matthews Emerging Markets Sustainable Future Active ETF (EMSF) have volatilities of 12.06% and 12.41%, 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.

Volatility by Period

	DEXC	EMSF	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.06%	12.41%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	21.06%	23.61%	-2.55%
Volatility (1Y) Calculated over the trailing 1-year period	22.90%	27.55%	-4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	23.59%	-2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.17%	23.59%	-2.42%

DEXC vs. EMSF - Expense Ratio Comparison

DEXC has a 0.43% expense ratio, which is lower than EMSF's 0.79% expense ratio.

Dividends

DEXC vs. EMSF - Dividend Comparison

DEXC's dividend yield for the trailing twelve months is around 1.40%, more than EMSF's 1.21% yield.

Position	TTM	2025	2024	2023
DEXC Dimensional Emerging Markets ex China Core Equity ETF	1.40%	1.97%	0.19%	0.00%
EMSF Matthews Emerging Markets Sustainable Future Active ETF	1.21%	1.88%	3.29%	0.02%

Frequently Asked Questions

Can I hold both DEXC and EMSF in my portfolio?

With a correlation of 0.91, DEXC and EMSF move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DEXC or EMSF?

EMSF has higher volatility (12.41%) compared to DEXC (12.06%). In terms of maximum drawdown, DEXC dropped -15.07% vs EMSF's -24.75%.

Which ETF is better, DEXC or EMSF?

On 1-year performance, EMSF leads with 70.16% vs 67.47% for DEXC. On fees, DEXC is cheaper at 0.43% per year. On volatility, DEXC has been the lower-risk option at 12.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEXC or EMSF?

Over the 1-year period, EMSF has performed better with a 70.16% return vs 67.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEXC or EMSF?

DEXC is cheaper with a 0.43% expense ratio, compared with 0.79% for EMSF.

Which ETF pays a higher dividend yield, DEXC or EMSF?

DEXC has the higher dividend yield at 1.40%, compared with 1.21% for EMSF.

What is the main difference between DEXC and EMSF?

They also come from different issuers: Dimensional Fund Advisors and Matthews. Their fees differ too: 0.43% for DEXC and 0.79% for EMSF.

Which has better risk-adjusted returns?

DEXC currently has the higher Sharpe Ratio (2.97 vs 2.56), 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.