EEMX vs. VEXC

Last updated Jul 14, 2026

EEMX (SPDR MSCI Emerging Markets Fossil Fuel Free ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - EEMX tracks the MSCI Emerging Markets ex Fossil Fuels Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. EEMX charges 0.30%/yr vs 0.07%/yr for VEXC.

Performance

EEMX vs. VEXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Vanguard Emerging Markets Ex-China ETF (VEXC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EEMX having a 19.72% return and VEXC slightly lower at 18.87%.

EEMX

• 1D: -3.71%
• 1M: -4.56%
• 6M: 13.01%
• YTD: 19.72%
• 1Y: 39.11%
• 3Y*: 20.28%
• 5Y*: 7.17%
• 10Y*: —

VEXC

• 1D: -1.96%
• 1M: 0.09%
• 6M: 14.90%
• YTD: 18.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EEMX vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	19.72%	3.27%
VEXC Vanguard Emerging Markets Ex-China ETF	18.87%	4.50%

Correlation

The correlation between EEMX and VEXC 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 (All Time) Calculated using the full available price history since Oct 2, 2025	0.91

Return for Risk

EEMX vs. VEXC — Risk / Return Rank

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

EEMX

EEMX Risk / Return Rank: 64
EEMX Sharpe Ratio Rank: 61
EEMX Sortino Ratio Rank: 55
EEMX Omega Ratio Rank: 64
EEMX Calmar Ratio Rank: 71
EEMX Martin Ratio Rank: 69

VEXC

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

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.

EEMX vs. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Emerging Markets Fossil Fuel Free ETF (EEMX) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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.

	EEMX	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.12	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.83	—	—
Martin ratio: Return relative to average drawdown	9.92	—	—

Drawdowns

EEMX vs. VEXC - Drawdown Comparison

The maximum EEMX drawdown since its inception was -39.90%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for EEMX and VEXC.

Drawdown Indicators

	EEMX	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-39.90%	-12.42%	-27.48%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.64%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-35.19%	—	—
Current Drawdown Current decline from peak	-9.45%	-4.77%	-4.68%
Average Drawdown Average peak-to-trough decline	-14.63%	-2.33%	-12.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.95%	—	—

Volatility

Volatility by Period

	EEMX	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	22.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.46%	20.20%	+4.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.01%	20.20%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.69%	20.20%	+0.49%

EEMX vs. VEXC - Expense Ratio Comparison

EEMX has a 0.30% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

EEMX vs. VEXC - Dividend Comparison

EEMX's dividend yield for the trailing twelve months is around 1.88%, more than VEXC's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF	1.88%	2.28%	2.26%	2.20%	2.38%	1.72%	1.42%	2.57%	2.41%	2.45%	0.15%
VEXC Vanguard Emerging Markets Ex-China ETF	1.45%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEMX and VEXC in my portfolio?

With a correlation of 0.91, EEMX and VEXC 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 ETF is better, EEMX or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EEMX or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.30% for EEMX.

Which ETF pays a higher dividend yield, EEMX or VEXC?

EEMX has the higher dividend yield at 1.88%, compared with 1.45% for VEXC.

What is the main difference between EEMX and VEXC?

EEMX tracks MSCI Emerging Markets ex Fossil Fuels Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for EEMX and 0.07% for VEXC.