DEXC vs. PEMX

Last updated Jun 4, 2026

DEXC (Dimensional Emerging Markets ex China Core Equity ETF) and PEMX (Putnam Emerging Markets Ex-China ETF) are both Emerging Markets Diversified funds. Both are actively managed. Over the past year, DEXC returned 63.36% vs 75.31% for PEMX. Their correlation of 0.93 suggests significant overlap in exposure. DEXC charges 0.43%/yr vs 0.85%/yr for PEMX.

Performance

DEXC vs. PEMX - 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 Putnam Emerging Markets Ex-China ETF (PEMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEXC achieves a 37.31% return, which is significantly lower than PEMX's 40.36% return.

DEXC

• 1D: -0.88%
• 1M: 11.20%
• YTD: 37.31%
• 6M: 41.69%
• 1Y: 63.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PEMX

• 1D: -0.63%
• 1M: 11.09%
• YTD: 40.36%
• 6M: 45.50%
• 1Y: 75.31%
• 3Y*: 34.73%
• 5Y*: —
• 10Y*: —

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

DEXC vs. PEMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DEXC Dimensional Emerging Markets ex China Core Equity ETF	37.31%	27.13%	-1.20%
PEMX Putnam Emerging Markets Ex-China ETF	40.36%	34.01%	1.89%

Correlation

The correlation between DEXC and PEMX is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Nov 15, 2024	0.93

The correlation between DEXC and PEMX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

DEXC vs. PEMX - Sectors Allocation Comparison

Sectors	DEXC	PEMX
Technology	42.7%	45.0%
Financial Services	13.6%	24.4%
Industrials	9.2%	8.6%
Basic Materials	7.5%	2.8%
Consumer Cyclical	5.6%	4.2%
Consumer Defensive	3.1%	1.2%
Communication Services	2.8%	6.6%
Energy	2.7%	-
Healthcare	2.6%	1.9%
Utilities	1.9%	4.5%
Real Estate	1.3%	0.9%

Return for Risk

DEXC vs. PEMX — 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: 90
DEXC Sortino Ratio Rank: 88
DEXC Omega Ratio Rank: 89
DEXC Calmar Ratio Rank: 87
DEXC Martin Ratio Rank: 89

PEMX

PEMX Risk / Return Rank: 90
PEMX Sharpe Ratio Rank: 93
PEMX Sortino Ratio Rank: 91
PEMX Omega Ratio Rank: 91
PEMX Calmar Ratio Rank: 88
PEMX Martin Ratio Rank: 90

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. PEMX - 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 Putnam Emerging Markets Ex-China ETF (PEMX). 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.

	DEXC	PEMX	Difference
Sharpe ratio: Return per unit of total volatility	3.12	3.52	-0.40
Sortino ratio: Return per unit of downside risk	3.99	4.30	-0.31
Omega ratio: Gain probability vs. loss probability	1.57	1.59	-0.03
Calmar ratio: Return relative to maximum drawdown	4.95	5.24	-0.29
Martin ratio: Return relative to average drawdown	19.75	20.66	-0.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEXC vs. PEMX - Sharpe Ratio Comparison

The current DEXC Sharpe Ratio is 3.12, which is comparable to the PEMX Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of DEXC and PEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DEXC	PEMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.12	3.52	-0.40
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	1.99	+0.18

Drawdowns

DEXC vs. PEMX - Drawdown Comparison

The maximum DEXC drawdown since its inception was -15.07%, roughly equal to the maximum PEMX drawdown of -14.91%. Use the drawdown chart below to compare losses from any high point for DEXC and PEMX.

Drawdown Indicators

	DEXC	PEMX	Difference
Max Drawdown Largest peak-to-trough decline	-15.07%	-14.91%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-14.45%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.91%	—
Current Drawdown Current decline from peak	-0.88%	-0.63%	-0.25%
Average Drawdown Average peak-to-trough decline	-2.41%	-2.84%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.22%	3.66%	-0.44%

Volatility

DEXC vs. PEMX - Volatility Comparison

Dimensional Emerging Markets ex China Core Equity ETF (DEXC) and Putnam Emerging Markets Ex-China ETF (PEMX) have volatilities of 9.61% and 9.67%, 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	PEMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.61%	9.67%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	18.73%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	20.44%	21.51%	-1.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.73%	18.18%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	18.18%	+1.55%

DEXC vs. PEMX - Expense Ratio Comparison

DEXC has a 0.43% expense ratio, which is lower than PEMX's 0.85% expense ratio.

Dividends

DEXC vs. PEMX - Dividend Comparison

DEXC's dividend yield for the trailing twelve months is around 1.45%, less than PEMX's 4.99% yield.

Position	TTM	2025	2024	2023
DEXC Dimensional Emerging Markets ex China Core Equity ETF	1.45%	1.97%	0.19%	0.00%
PEMX Putnam Emerging Markets Ex-China ETF	4.99%	7.00%	5.00%	0.72%

Frequently Asked Questions

Can I hold both DEXC and PEMX in my portfolio?

With a correlation of 0.95, DEXC and PEMX 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 PEMX?

PEMX has higher volatility (9.67%) compared to DEXC (9.61%). In terms of maximum drawdown, DEXC dropped -15.07% vs PEMX's -14.91%.

Which ETF is better, DEXC or PEMX?

On 1-year performance, PEMX leads with 75.31% vs 63.36% for DEXC. On fees, DEXC is cheaper at 0.43% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEXC or PEMX?

Over the 1-year period, PEMX has performed better with a 75.31% return vs 63.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEXC or PEMX?

DEXC is cheaper with a 0.43% expense ratio, compared with 0.85% for PEMX.

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

PEMX has the higher dividend yield at 4.99%, compared with 1.45% for DEXC.

What is the main difference between DEXC and PEMX?

They also come from different issuers: Dimensional Fund Advisors and Putnam. Their fees differ too: 0.43% for DEXC and 0.85% for PEMX.

Which has better risk-adjusted returns?

PEMX currently has the higher Sharpe Ratio (3.52 vs 3.12), 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.