EMCR vs. EMCS

Last updated Jun 5, 2026

EMCR (Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF) and EMCS (Xtrackers MSCI Emerging Markets Climate Selection ETF) are both Emerging Markets Equities funds - EMCR tracks the Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net while EMCS tracks the MSCI Emerging Markets Climate Select Index. Both are passively managed. Over the past 5 years, EMCR returned 8.83%/yr vs 7.75%/yr for EMCS. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.

Performance

EMCR vs. EMCS - 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 Emerging Markets Climate Selection ETF (EMCS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMCR achieves a 22.13% return, which is significantly lower than EMCS's 32.56% return.

EMCR

• 1D: -0.87%
• 1M: 5.56%
• YTD: 22.13%
• 6M: 24.53%
• 1Y: 47.15%
• 3Y*: 23.37%
• 5Y*: 8.83%
• 10Y*: —

EMCS

• 1D: -0.94%
• 1M: 9.45%
• YTD: 32.56%
• 6M: 36.46%
• 1Y: 60.33%
• 3Y*: 27.24%
• 5Y*: 7.75%
• 10Y*: —

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

EMCR vs. EMCS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	22.13%	33.25%	9.69%	10.55%	-18.73%	5.54%	13.49%	22.41%	-1.76%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	32.56%	38.71%	10.12%	5.68%	-23.58%	-2.02%	19.72%	19.54%	-0.59%

Correlation

The correlation between EMCR and EMCS is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 7, 2018	0.93

The correlation between EMCR and EMCS has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

EMCR vs. EMCS - Sectors Allocation Comparison

Sectors	EMCR	EMCS
Technology	36.2%	44.5%
Financial Services	20.7%	29.4%
Consumer Cyclical	10.6%	9.1%
Communication Services	9.9%	8.4%
Industrials	6.7%	2.5%
Healthcare	5.6%	0.0%
Basic Materials	3.9%	2.6%
Consumer Defensive	2.8%	0.0%
Real Estate	1.8%	1.0%
Utilities	1.5%	0.8%
Energy	0.1%	1.6%

Return for Risk

EMCR vs. EMCS — Risk / Return Rank

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

EMCR

EMCR Risk / Return Rank: 73
EMCR Sharpe Ratio Rank: 76
EMCR Sortino Ratio Rank: 71
EMCR Omega Ratio Rank: 75
EMCR Calmar Ratio Rank: 70
EMCR Martin Ratio Rank: 71

EMCS

EMCS Risk / Return Rank: 82
EMCS Sharpe Ratio Rank: 84
EMCS Sortino Ratio Rank: 80
EMCS Omega Ratio Rank: 83
EMCS Calmar Ratio Rank: 82
EMCS Martin Ratio Rank: 82

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. EMCS - 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 Emerging Markets Climate Selection ETF (EMCS). 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	EMCS	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.71	-0.29
Sortino ratio: Return per unit of downside risk	3.17	3.52	-0.35
Omega ratio: Gain probability vs. loss probability	1.44	1.49	-0.05
Calmar ratio: Return relative to maximum drawdown	3.42	4.23	-0.81
Martin ratio: Return relative to average drawdown	13.08	16.37	-3.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMCR vs. EMCS - Sharpe Ratio Comparison

The current EMCR Sharpe Ratio is 2.42, which is comparable to the EMCS Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of EMCR and EMCS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EMCR	EMCS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.71	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.38	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.54	+0.06

Drawdowns

EMCR vs. EMCS - Drawdown Comparison

The maximum EMCR drawdown since its inception was -34.28%, smaller than the maximum EMCS drawdown of -44.86%. Use the drawdown chart below to compare losses from any high point for EMCR and EMCS.

Drawdown Indicators

	EMCR	EMCS	Difference
Max Drawdown Largest peak-to-trough decline	-34.28%	-44.86%	+10.58%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-14.32%	+0.48%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-16.73%	-1.65%
Max Drawdown (5Y) Largest decline over 5 years	-34.28%	-42.06%	+7.78%
Current Drawdown Current decline from peak	-2.21%	-2.13%	-0.08%
Average Drawdown Average peak-to-trough decline	-9.33%	-16.60%	+7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.70%	-0.09%

Volatility

EMCR vs. EMCS - Volatility Comparison

The current volatility for Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (EMCR) is 8.00%, while Xtrackers MSCI Emerging Markets Climate Selection ETF (EMCS) has a volatility of 9.79%. This indicates that EMCR experiences smaller price fluctuations and is considered to be less risky than EMCS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMCR	EMCS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.00%	9.79%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	16.94%	19.45%	-2.51%
Volatility (1Y) Calculated over the trailing 1-year period	19.62%	22.39%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	20.62%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	21.65%	-1.79%

EMCR vs. EMCS - Expense Ratio Comparison

Both EMCR and EMCS have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

EMCR vs. EMCS - Dividend Comparison

EMCR's dividend yield for the trailing twelve months is around 1.99%, more than EMCS's 1.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF	1.99%	2.43%	6.62%	1.95%	3.05%	1.83%	1.75%	3.15%	0.19%
EMCS Xtrackers MSCI Emerging Markets Climate Selection ETF	1.25%	1.66%	0.67%	3.07%	2.26%	1.46%	1.40%	3.56%	0.00%

Frequently Asked Questions

Can I hold both EMCR and EMCS in my portfolio?

With a correlation of 0.96, EMCR and EMCS 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 EMCS?

EMCS has higher volatility (9.79%) compared to EMCR (8.00%). In terms of maximum drawdown, EMCR dropped -34.28% vs EMCS's -44.86%.

Which ETF is better, EMCR or EMCS?

On 5-year performance, EMCR leads with 8.83% vs 7.75% for EMCS. Both ETFs have the same 0.15% expense ratio. On volatility, EMCR has been the lower-risk option at 8.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMCR or EMCS?

Over the 5-year period, EMCR has performed better with a 8.83% return vs 7.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMCR or EMCS?

EMCR and EMCS have the same expense ratio: 0.15% per year.

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

EMCR has the higher dividend yield at 1.99%, compared with 1.25% for EMCS.

What is the main difference between EMCR and EMCS?

EMCR tracks Solactive ISS Emerging Markets Carbon Reduction & Climate Improvers Index - Benchmark TR Net, while EMCS tracks MSCI Emerging Markets Climate Select Index. They also come from different issuers: Deutsche Bank and Xtrackers.

Which has better risk-adjusted returns?

EMCS currently has the higher Sharpe Ratio (2.71 vs 2.42), 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.