EMCR vs. AGEM

Last updated Jun 23, 2026

EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) and AGEM (abrdn Emerging Markets Dividend Active ETF) are both Emerging Markets Equities funds. EMCR is passively managed, while AGEM is actively managed. Over the past year, EMCR returned 50.14% vs 64.77% for AGEM. Their correlation of 0.92 suggests significant overlap in exposure. EMCR charges 0.15%/yr vs 0.70%/yr for AGEM.

Performance

EMCR vs. AGEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and abrdn Emerging Markets Dividend Active ETF (AGEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMCR achieves a 25.27% return, which is significantly lower than AGEM's 34.43% return.

EMCR

• 1D: 0.42%
• 1M: 7.36%
• YTD: 25.27%
• 6M: 26.91%
• 1Y: 50.14%
• 3Y*: 24.41%
• 5Y*: 9.77%
• 10Y*: —

AGEM

• 1D: 0.62%
• 1M: 8.57%
• YTD: 34.43%
• 6M: 35.79%
• 1Y: 64.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMCR vs. AGEM - Yearly Performance Comparison

	2026 (YTD)	2025
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	25.27%	25.33%
AGEM abrdn Emerging Markets Dividend Active ETF	34.43%	29.73%

Correlation

The correlation between EMCR and AGEM 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 Feb 18, 2025	0.92

The correlation between EMCR and AGEM has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

EMCR vs. AGEM — Risk / Return Rank

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

EMCR

EMCR Risk / Return Rank: 74
EMCR Sharpe Ratio Rank: 77
EMCR Sortino Ratio Rank: 69
EMCR Omega Ratio Rank: 78
EMCR Calmar Ratio Rank: 74
EMCR Martin Ratio Rank: 73

AGEM

AGEM Risk / Return Rank: 87
AGEM Sharpe Ratio Rank: 91
AGEM Sortino Ratio Rank: 86
AGEM Omega Ratio Rank: 89
AGEM Calmar Ratio Rank: 86
AGEM Martin Ratio Rank: 86

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.

EMCR vs. AGEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and abrdn Emerging Markets Dividend Active ETF (AGEM). 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.

	EMCR	AGEM	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.97	-0.61
Sortino ratio: Return per unit of downside risk	3.03	3.68	-0.65
Omega ratio: Gain probability vs. loss probability	1.44	1.53	-0.09
Calmar ratio: Return relative to maximum drawdown	3.64	4.68	-1.04
Martin ratio: Return relative to average drawdown	13.38	17.46	-4.08

EMCR vs. AGEM - Sharpe Ratio Comparison

The current EMCR Sharpe Ratio is 2.36, which is comparable to the AGEM Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of EMCR and AGEM, 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

EMCR vs. AGEM - Drawdown Comparison

The maximum EMCR drawdown since its inception was -34.28%, which is greater than AGEM's maximum drawdown of -15.58%. Use the drawdown chart below to compare losses from any high point for EMCR and AGEM.

Drawdown Indicators

	EMCR	AGEM	Difference
Max Drawdown Largest peak-to-trough decline	-34.28%	-15.58%	-18.70%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-13.92%	+0.08%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.28%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.29%	-2.29%	-7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	3.72%	+0.04%

Volatility

EMCR vs. AGEM - Volatility Comparison

Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) and abrdn Emerging Markets Dividend Active ETF (AGEM) have volatilities of 10.20% and 10.54%, 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

	EMCR	AGEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.20%	10.54%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	19.05%	19.79%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	21.99%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.69%	22.53%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.06%	22.53%	-2.47%

EMCR vs. AGEM - Expense Ratio Comparison

EMCR has a 0.15% expense ratio, which is lower than AGEM's 0.70% expense ratio.

Dividends

EMCR vs. AGEM - Dividend Comparison

EMCR's dividend yield for the trailing twelve months is around 1.40%, less than AGEM's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AGEM abrdn Emerging Markets Dividend Active ETF	1.67%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.40%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%

Frequently Asked Questions

Can I hold both EMCR and AGEM in my portfolio?

With a correlation of 0.95, EMCR and AGEM 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, EMCR or AGEM?

AGEM has higher volatility (10.54%) compared to EMCR (10.20%). In terms of maximum drawdown, EMCR dropped -34.28% vs AGEM's -15.58%.

Which ETF is better, EMCR or AGEM?

On 1-year performance, AGEM leads with 64.77% vs 50.14% for EMCR. On fees, EMCR is cheaper at 0.15% per year. On volatility, EMCR has been the lower-risk option at 10.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMCR or AGEM?

Over the 1-year period, AGEM has performed better with a 64.77% return vs 50.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMCR or AGEM?

EMCR is cheaper with a 0.15% expense ratio, compared with 0.70% for AGEM.

Which ETF pays a higher dividend yield, EMCR or AGEM?

AGEM has the higher dividend yield at 1.67%, compared with 1.40% for EMCR.

What is the main difference between EMCR and AGEM?

They also come from different issuers: Deutsche Bank and abrdn. Their fees differ too: 0.15% for EMCR and 0.70% for AGEM.

Which has better risk-adjusted returns?

AGEM currently has the higher Sharpe Ratio (2.97 vs 2.36), 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.