EMC vs. EMM

Last updated Jun 24, 2026

EMC (Global X Emerging Markets Great Consumer ETF) and EMM (Global X Emerging Markets ex-China ETF) are both Emerging Markets Diversified funds from Global X. Both are actively managed. Over the past 3 years, EMC returned 15.69%/yr vs 21.97%/yr for EMM. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.75% expense ratio.

Performance

EMC vs. EMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Emerging Markets Great Consumer ETF (EMC) and Global X Emerging Markets ex-China ETF (EMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMC achieves a 20.87% return, which is significantly lower than EMM's 30.43% return.

EMC

• 1D: -5.16%
• 1M: 2.68%
• YTD: 20.87%
• 6M: 22.02%
• 1Y: 31.90%
• 3Y*: 15.69%
• 5Y*: —
• 10Y*: —

EMM

• 1D: -5.60%
• 1M: 4.22%
• YTD: 30.43%
• 6M: 33.87%
• 1Y: 55.00%
• 3Y*: 21.97%
• 5Y*: —
• 10Y*: —

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

EMC vs. EMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMC Global X Emerging Markets Great Consumer ETF	20.87%	18.91%	3.75%	1.62%
EMM Global X Emerging Markets ex-China ETF	30.43%	30.21%	2.34%	2.99%

Correlation

The correlation between EMC and EMM 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 (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 15, 2023	0.92

The correlation between EMC and EMM has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

Return for Risk

EMC vs. EMM — Risk / Return Rank

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

EMC

EMC Risk / Return Rank: 46
EMC Sharpe Ratio Rank: 43
EMC Sortino Ratio Rank: 41
EMC Omega Ratio Rank: 45
EMC Calmar Ratio Rank: 50
EMC Martin Ratio Rank: 52

EMM

EMM Risk / Return Rank: 76
EMM Sharpe Ratio Rank: 76
EMM Sortino Ratio Rank: 68
EMM Omega Ratio Rank: 76
EMM Calmar Ratio Rank: 77
EMM 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.

EMC vs. EMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Emerging Markets Great Consumer ETF (EMC) and Global X Emerging Markets ex-China ETF (EMM). 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.

	EMC	EMM	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.26	-0.85
Sortino ratio: Return per unit of downside risk	1.96	2.87	-0.91
Omega ratio: Gain probability vs. loss probability	1.27	1.42	-0.15
Calmar ratio: Return relative to maximum drawdown	2.31	3.75	-1.44
Martin ratio: Return relative to average drawdown	8.19	15.03	-6.84

EMC vs. EMM - Sharpe Ratio Comparison

The current EMC Sharpe Ratio is 1.40, which is lower than the EMM Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of EMC and EMM, 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

EMC vs. EMM - Drawdown Comparison

The maximum EMC drawdown since its inception was -18.38%, smaller than the maximum EMM drawdown of -21.99%. Use the drawdown chart below to compare losses from any high point for EMC and EMM.

Drawdown Indicators

	EMC	EMM	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-21.99%	+3.61%
Max Drawdown (1Y) Largest decline over 1 year	-13.89%	-14.75%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-21.99%	+3.61%
Current Drawdown Current decline from peak	-5.16%	-5.60%	+0.44%
Average Drawdown Average peak-to-trough decline	-4.11%	-4.67%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.91%	3.67%	+0.24%

Volatility

EMC vs. EMM - Volatility Comparison

The current volatility for Global X Emerging Markets Great Consumer ETF (EMC) is 11.79%, while Global X Emerging Markets ex-China ETF (EMM) has a volatility of 13.10%. This indicates that EMC experiences smaller price fluctuations and is considered to be less risky than EMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMC	EMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.79%	13.10%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	20.86%	22.46%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.90%	24.51%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.30%	19.83%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.30%	19.83%	-0.53%

EMC vs. EMM - Expense Ratio Comparison

Both EMC and EMM have an expense ratio of 0.75%.

Dividends

EMC vs. EMM - Dividend Comparison

EMC's dividend yield for the trailing twelve months is around 0.65%, less than EMM's 0.69% yield.

Position	TTM	2025	2024	2023
EMC Global X Emerging Markets Great Consumer ETF	0.65%	0.78%	1.13%	0.89%
EMM Global X Emerging Markets ex-China ETF	0.69%	0.90%	0.80%	0.66%

Frequently Asked Questions

Can I hold both EMC and EMM in my portfolio?

With a correlation of 0.91, EMC and EMM 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, EMC or EMM?

EMM has higher volatility (13.10%) compared to EMC (11.79%). In terms of maximum drawdown, EMC dropped -18.38% vs EMM's -21.99%.

Which ETF is better, EMC or EMM?

On 3-year performance, EMM leads with 21.97% vs 15.69% for EMC. Both ETFs have the same 0.75% expense ratio. On volatility, EMC has been the lower-risk option at 11.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMC or EMM?

Over the 3-year period, EMM has performed better with a 21.97% return vs 15.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMC or EMM?

EMC and EMM have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, EMC or EMM?

EMM has the higher dividend yield at 0.69%, compared with 0.65% for EMC.

Which has better risk-adjusted returns?

EMM currently has the higher Sharpe Ratio (2.25 vs 1.40), 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.