EMCR vs. CN

Last updated Jun 6, 2026

EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) and CN (Xtrackers MSCI All China Equity ETF) are both exchange-traded funds - EMCR is a Emerging Markets Equities fund tracking the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net, while CN is a China Equities fund tracking the MSCI China All Shares. Both are passively managed. A 0.65 correlation means they provide meaningful diversification when combined. EMCR charges 0.15%/yr vs 0.50%/yr for CN.

Performance

EMCR vs. CN - 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 Xtrackers MSCI All China Equity ETF (CN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

EMCR

• 1D: -6.11%
• 1M: -3.85%
• YTD: 14.66%
• 6M: 16.19%
• 1Y: 37.41%
• 3Y*: 20.41%
• 5Y*: 7.46%
• 10Y*: —

CN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMCR vs. CN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	14.66%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-1.76%
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	-3.10%	-11.87%	-23.85%	-12.74%	31.55%	26.79%	-5.63%

Correlation

The correlation between EMCR and CN is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.65

The correlation between EMCR and CN shifts across timeframes, from 0.38 (3 years) to 0.65 (all time), reflecting how their relationship changes across market environments.

EMCR vs. CN - Sectors Allocation Comparison

Sectors	EMCR	CN
Technology	36.2%	0.3%
Financial Services	20.7%	55.1%
Consumer Cyclical	10.6%	5.4%
Communication Services	9.9%	0.4%
Industrials	6.7%	1.0%
Healthcare	5.6%	0.8%
Basic Materials	3.9%	0.6%
Consumer Defensive	2.8%	0.3%
Real Estate	1.8%	0.8%
Utilities	1.5%	0.2%
Energy	0.1%	0.9%

Return for Risk

EMCR vs. CN — Risk / Return Rank

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

EMCR

EMCR Risk / Return Rank: 58
EMCR Sharpe Ratio Rank: 57
EMCR Sortino Ratio Rank: 52
EMCR Omega Ratio Rank: 61
EMCR Calmar Ratio Rank: 58
EMCR Martin Ratio Rank: 60

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. CN - 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 Xtrackers MSCI All China Equity ETF (CN). 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.

	EMCR	CN	Difference
Sharpe ratio: Return per unit of total volatility	1.83	—	—
Sortino ratio: Return per unit of downside risk	2.39	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.72	—	—
Martin ratio: Return relative to average drawdown	10.27	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EMCR	CN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	—	—

Drawdowns

Drawdown Indicators

	EMCR	CN	Difference
Max Drawdown Largest peak-to-trough decline	-34.28%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	—	—
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	-8.19%	—	—
Average Drawdown Average peak-to-trough decline	-9.33%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.65%	—	—

Volatility

Volatility by Period

	EMCR	CN	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.57%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.48%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	—	—

EMCR vs. CN - Expense Ratio Comparison

EMCR has a 0.15% expense ratio, which is lower than CN's 0.50% expense ratio.

Dividends

EMCR vs. CN - Dividend Comparison

EMCR's dividend yield for the trailing twelve months is around 2.12%, while CN has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CN Xtrackers MSCI All China Equity ETF	0.00%	0.00%	0.00%	4.04%	1.80%	2.00%	0.78%	4.18%	2.09%	0.81%	11.41%	14.00%
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	2.12%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMCR and CN in my portfolio?

EMCR and CN have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EMCR or CN?

On fees, EMCR is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMCR or CN?

EMCR is cheaper with a 0.15% expense ratio, compared with 0.50% for CN.

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

EMCR has the higher dividend yield at 2.12%, compared with 0.00% for CN.

What is the main difference between EMCR and CN?

EMCR is categorized as Emerging Markets Equities, while CN is China Equities. EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net, while CN tracks MSCI China All Shares. Their fees differ too: 0.15% for EMCR and 0.50% for CN.