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ECH vs. KEMX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECH vs. KEMX

Last updated Jul 14, 2026
Documentation

ECH (iShares MSCI Chile ETF) and KEMX (KraneShares MSCI Emerging Markets ex China Index ETF) are both Foreign Large Cap Equities funds - ECH tracks the MSCI Chile Investable Market Index while KEMX tracks the MSCI Emerging Markets ex China Index. Both are passively managed. Over the past 5 years, ECH returned 12.22%/yr vs 12.57%/yr for KEMX. A 0.56 correlation means they provide meaningful diversification when combined. ECH charges 0.59%/yr vs 0.25%/yr for KEMX.

Performance

ECH vs. KEMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Chile ETF (ECH) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ECH achieves a -0.99% return, which is significantly lower than KEMX's 32.55% return.

ECH

1D
-2.04%
1M
-3.61%
6M
-8.82%
YTD
-0.99%
1Y
31.58%
3Y*
11.38%
5Y*
12.22%
10Y*
3.49%

KEMX

1D
-3.59%
1M
-3.90%
6M
25.54%
YTD
32.55%
1Y
56.95%
3Y*
24.86%
5Y*
12.57%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECH vs. KEMX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ECH
iShares MSCI Chile ETF		-0.99%65.41%-8.67%9.01%25.12%-19.80%-7.13%-23.01%
KEMX
KraneShares MSCI Emerging Markets ex China Index ETF		32.55%38.28%0.36%20.57%-19.35%10.55%12.84%7.93%

Correlation

The correlation between ECH and KEMX is 0.55, 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

0.55

Correlation (3Y)
Calculated over the trailing 3-year period

0.55

Correlation (5Y)
Calculated over the trailing 5-year period

0.55

Correlation (All Time)
Calculated using the full available price history since Apr 12, 2019

0.56

The correlation between ECH and KEMX has been stable across timeframes, ranging from 0.55 to 0.56 - a consistent structural relationship.

ECH vs. KEMX - Sectors Allocation Comparison

Sectors
ECH
KEMX

Financial Services

21.8%
18.7%

Basic Materials

20.1%
7.6%

Industrials

15.7%
7.6%

Utilities

12.9%
1.7%

Consumer Cyclical

12.4%
5.5%

Real Estate

7.7%
1.0%

Consumer Defensive

7.6%
2.6%

Communication Services

1.7%
2.9%

Energy

-

4.0%

Healthcare

-

1.5%

Technology

-

46.8%

Financial Services

ECH
21.8%
KEMX
18.7%

Basic Materials

ECH
20.1%
KEMX
7.6%

Industrials

ECH
15.7%
KEMX
7.6%

Utilities

ECH
12.9%
KEMX
1.7%

Consumer Cyclical

ECH
12.4%
KEMX
5.5%

Real Estate

ECH
7.7%
KEMX
1.0%

Consumer Defensive

ECH
7.6%
KEMX
2.6%

Communication Services

ECH
1.7%
KEMX
2.9%

Energy

ECH

-

KEMX
4.0%

Healthcare

ECH

-

KEMX
1.5%

Technology

ECH

-

KEMX
46.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Chile ETF

KraneShares MSCI Emerging Markets ex China Index ETF

Often compared with ECH:
ECH vs. EWZECH vs. EWWECH vs. EPUECH vs. EWZSECH vs. EPOLECH vs. EWYECH vs. SCHD
Often compared with KEMX:
KEMX vs. XCEMKEMX vs. KLIPKEMX vs. KOKUKEMX vs. EMXCKEMX vs. VOOKEMX vs. SPYKEMX vs. STXE

Return for Risk

ECH vs. KEMX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ECH
ECH Risk / Return Rank: 4040
Overall Rank
ECH Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
ECH Sortino Ratio Rank: 4242
Sortino Ratio Rank
ECH Omega Ratio Rank: 4141
Omega Ratio Rank
ECH Calmar Ratio Rank: 3939
Calmar Ratio Rank
ECH Martin Ratio Rank: 3131
Martin Ratio Rank
KEMX
KEMX Risk / Return Rank: 8383
Overall Rank
KEMX Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
KEMX Sortino Ratio Rank: 7777
Sortino Ratio Rank
KEMX Omega Ratio Rank: 8484
Omega Ratio Rank
KEMX Calmar Ratio Rank: 8585
Calmar Ratio Rank
KEMX Martin Ratio Rank: 8484
Martin Ratio Rank
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.

ECH vs. KEMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Chile ETF (ECH) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX). 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.

ECHKEMXDifference
Sharpe ratioReturn per unit of total volatility
1.25
2.20

-0.95

Sortino ratioReturn per unit of downside risk
1.77
2.73

-0.97

Omega ratioGain probability vs. loss probability

1.22

1.40

-0.18

Calmar ratioReturn relative to maximum drawdown

1.61

3.73

-2.12

Martin ratioReturn relative to average drawdown

3.53

13.32

-9.79

ECH vs. KEMX - Sharpe Ratio Comparison

The current ECH Sharpe Ratio is 1.25, which is lower than the KEMX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of ECH and KEMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ECH vs. KEMX - Drawdown Comparison

The maximum ECH drawdown since its inception was -74.08%, which is greater than KEMX's maximum drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for ECH and KEMX.

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Drawdown Indicators

ECHKEMXDifference

Max Drawdown

Largest peak-to-trough decline

-74.08%

-38.80%

-35.28%

Max Drawdown (1Y)

Largest decline over 1 year

-19.74%

-15.36%

-4.38%

Max Drawdown (3Y)

Largest decline over 3 years

-25.59%

-19.62%

-5.97%

Max Drawdown (5Y)

Largest decline over 5 years

-25.59%

-30.85%

+5.26%

Max Drawdown (10Y)

Largest decline over 10 years

-66.89%

—

—

Current Drawdown

Current decline from peak

-26.43%

-9.78%

-16.65%

Average Drawdown

Average peak-to-trough decline

-37.45%

-8.80%

-28.65%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.97%

4.29%

+4.68%

Volatility

ECH vs. KEMX - Volatility Comparison

The current volatility for iShares MSCI Chile ETF (ECH) is 7.23%, while KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a volatility of 11.95%. This indicates that ECH experiences smaller price fluctuations and is considered to be less risky than KEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ECHKEMXDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.23%

11.95%

-4.72%

Volatility (6M)

Calculated over the trailing 6-month period

21.17%

24.11%

-2.94%

Volatility (1Y)

Calculated over the trailing 1-year period

25.46%

26.05%

-0.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.54%

19.18%

+8.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.20%

21.41%

+5.79%

ECH vs. KEMX - Expense Ratio Comparison

ECH has a 0.59% expense ratio, which is higher than KEMX's 0.25% expense ratio.

Dividends

ECH vs. KEMX - Dividend Comparison

ECH's dividend yield for the trailing twelve months is around 1.99%, less than KEMX's 2.47% yield.

PositionTTM20252024202320222021202020192018201720162015
ECH
iShares MSCI Chile ETF		1.99%2.01%3.12%4.77%6.73%5.49%2.16%2.47%2.37%1.42%1.85%2.13%
KEMX
KraneShares MSCI Emerging Markets ex China Index ETF		2.47%3.28%3.39%2.00%4.10%4.79%1.69%2.77%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ECH and KEMX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KEMX has higher volatility (11.95%) compared to ECH (7.23%). In terms of maximum drawdown, ECH dropped -74.08% vs KEMX's -38.80%.

On 5-year performance, KEMX leads with 12.57% vs 12.22% for ECH. On fees, KEMX is cheaper at 0.25% per year. On volatility, ECH has been the lower-risk option at 7.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, KEMX has performed better with a 12.57% return vs 12.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KEMX is cheaper with a 0.25% expense ratio, compared with 0.59% for ECH.

KEMX has the higher dividend yield at 2.47%, compared with 1.99% for ECH.

ECH tracks MSCI Chile Investable Market Index, while KEMX tracks MSCI Emerging Markets ex China Index. They also come from different issuers: iShares and CICC. Their fees differ too: 0.59% for ECH and 0.25% for KEMX.

KEMX currently has the higher Sharpe Ratio (2.20 vs 1.25), 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.

Portfolio Optimizer

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