DIAL vs. XCEM
DIAL (Columbia Diversified Fixed Income Allocation ETF) and XCEM (Columbia EM Core ex-China ETF) are both exchange-traded funds - DIAL is a Multisector Bonds fund tracking the Bloomberg Beta Advantage Multi-Sector Bond Index, while XCEM is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 5 years, DIAL returned 0.63%/yr vs 11.50%/yr for XCEM. At a 0.29 correlation, their price movements are largely independent. DIAL charges 0.29%/yr vs 0.16%/yr for XCEM.
Performance
DIAL vs. XCEM - Performance Comparison
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Returns By Period
In the year-to-date period, DIAL achieves a 0.94% return, which is significantly lower than XCEM's 34.20% return.
DIAL
- 1D
- -0.03%
- 1M
- 0.61%
- YTD
- 0.94%
- 6M
- 1.01%
- 1Y
- 5.59%
- 3Y*
- 5.87%
- 5Y*
- 0.63%
- 10Y*
- —
XCEM
- 1D
- -6.33%
- 1M
- 4.21%
- YTD
- 34.20%
- 6M
- 36.41%
- 1Y
- 61.17%
- 3Y*
- 24.94%
- 5Y*
- 11.50%
- 10Y*
- 12.62%
DIAL vs. XCEM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIAL Columbia Diversified Fixed Income Allocation ETF | 0.94% | 9.93% | 1.69% | 8.54% | -16.13% | -1.14% | 9.08% | 14.05% | -1.98% | 0.15% |
XCEM Columbia EM Core ex-China ETF | 34.20% | 34.05% | 0.42% | 19.96% | -17.59% | 7.87% | 9.47% | 19.74% | -11.75% | 7.60% |
Correlation
The correlation between DIAL and XCEM is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2017 | 0.29 |
Over the past year, DIAL and XCEM have become more correlated (0.51) than their long-term average of 0.29, meaning their price movements have been converging.
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Return for Risk
DIAL vs. XCEM — Risk / Return Rank
DIAL
XCEM
DIAL vs. XCEM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia Diversified Fixed Income Allocation ETF (DIAL) and Columbia EM Core ex-China ETF (XCEM). 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.
| DIAL | XCEM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.18 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.47 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 4.25 | -2.57 |
| Martin ratioReturn relative to average drawdown | 6.39 | 16.39 | -10.00 |
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Drawdowns
DIAL vs. XCEM - Drawdown Comparison
The maximum DIAL drawdown since its inception was -22.19%, smaller than the maximum XCEM drawdown of -41.24%. Use the drawdown chart below to compare losses from any high point for DIAL and XCEM.
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Drawdown Indicators
| DIAL | XCEM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -41.24% | +19.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.34% | -14.46% | +11.12% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -18.92% | +11.91% |
Max Drawdown (5Y)Largest decline over 5 years | -22.19% | -29.57% | +7.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.24% | — |
Current DrawdownCurrent decline from peak | -0.83% | -6.33% | +5.50% |
Average DrawdownAverage peak-to-trough decline | -5.51% | -8.57% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.88% | 3.74% | -2.86% |
Volatility
DIAL vs. XCEM - Volatility Comparison
The current volatility for Columbia Diversified Fixed Income Allocation ETF (DIAL) is 1.36%, while Columbia EM Core ex-China ETF (XCEM) has a volatility of 14.01%. This indicates that DIAL experiences smaller price fluctuations and is considered to be less risky than XCEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DIAL | XCEM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 14.01% | -12.65% |
Volatility (6M)Calculated over the trailing 6-month period | 3.38% | 22.56% | -19.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 24.28% | -20.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 18.60% | -11.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.02% | 19.94% | -12.92% |
DIAL vs. XCEM - Expense Ratio Comparison
DIAL has a 0.29% expense ratio, which is higher than XCEM's 0.16% expense ratio.
Dividends
DIAL vs. XCEM - Dividend Comparison
DIAL's dividend yield for the trailing twelve months is around 5.05%, more than XCEM's 2.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DIAL Columbia Diversified Fixed Income Allocation ETF | 5.05% | 4.81% | 4.67% | 3.77% | 3.47% | 2.46% | 2.61% | 3.27% | 3.56% | 0.65% | 0.00% | 0.00% |
XCEM Columbia EM Core ex-China ETF | 2.42% | 3.25% | 2.76% | 1.22% | 2.42% | 1.94% | 1.63% | 2.11% | 2.70% | 9.56% | 1.24% | 2.63% |
Frequently Asked Questions
DIAL and XCEM have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XCEM has higher volatility (14.01%) compared to DIAL (1.36%). In terms of maximum drawdown, DIAL dropped -22.19% vs XCEM's -41.24%.
On 5-year performance, XCEM leads with 11.50% vs 0.63% for DIAL. On fees, XCEM is cheaper at 0.16% per year. On volatility, DIAL has been the lower-risk option at 1.36%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XCEM has performed better with a 11.50% return vs 0.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XCEM is cheaper with a 0.16% expense ratio, compared with 0.29% for DIAL.
DIAL has the higher dividend yield at 5.05%, compared with 2.42% for XCEM.
DIAL is categorized as Multisector Bonds, while XCEM is Emerging Markets Equities. DIAL tracks Bloomberg Beta Advantage Multi-Sector Bond Index, while XCEM tracks MSCI Emerging Markets ex China Index. Their fees differ too: 0.29% for DIAL and 0.16% for XCEM.
XCEM currently has the higher Sharpe Ratio (2.53 vs 1.35), 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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