EMKT vs. XCNY

Last updated Jun 24, 2026

EMKT (Lazard Emerging Markets Opportunities ETF) and XCNY (SPDR S&P Emerging Markets ex-China ETF) are both Emerging Markets Diversified funds. EMKT is actively managed, while XCNY is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. EMKT charges 0.74%/yr vs 0.15%/yr for XCNY.

Performance

EMKT vs. XCNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard Emerging Markets Opportunities ETF (EMKT) and SPDR S&P Emerging Markets ex-China ETF (XCNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMKT achieves a 25.38% return, which is significantly higher than XCNY's 19.25% return.

EMKT

• 1D: -5.64%
• 1M: 3.35%
• YTD: 25.38%
• 6M: 26.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

XCNY

• 1D: -3.40%
• 1M: 3.23%
• YTD: 19.25%
• 6M: 19.54%
• 1Y: 36.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMKT vs. XCNY - Yearly Performance Comparison

	2026 (YTD)	2025
EMKT Lazard Emerging Markets Opportunities ETF	25.38%	-1.26%
XCNY SPDR S&P Emerging Markets ex-China ETF	19.25%	1.32%

Correlation

The correlation between EMKT and XCNY is 0.90, 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 27, 2025	0.90

Return for Risk

EMKT vs. XCNY — Risk / Return Rank

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

EMKT

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

XCNY

XCNY Risk / Return Rank: 68
XCNY Sharpe Ratio Rank: 69
XCNY Sortino Ratio Rank: 65
XCNY Omega Ratio Rank: 69
XCNY Calmar Ratio Rank: 67
XCNY Martin Ratio Rank: 69

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.

EMKT vs. XCNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard Emerging Markets Opportunities ETF (EMKT) and SPDR S&P Emerging Markets ex-China ETF (XCNY). 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.

	EMKT	XCNY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.02	—
Sortino ratio: Return per unit of downside risk	—	2.73	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	3.08	—
Martin ratio: Return relative to average drawdown	—	11.54	—

Drawdowns

EMKT vs. XCNY - Drawdown Comparison

The maximum EMKT drawdown since its inception was -14.21%, smaller than the maximum XCNY drawdown of -19.70%. Use the drawdown chart below to compare losses from any high point for EMKT and XCNY.

Drawdown Indicators

	EMKT	XCNY	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-19.70%	+5.49%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.86%	—
Current Drawdown Current decline from peak	-5.64%	-3.40%	-2.24%
Average Drawdown Average peak-to-trough decline	-3.10%	-4.09%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.15%	—

Volatility

Volatility by Period

	EMKT	XCNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.52%	—
Volatility (6M) Calculated over the trailing 6-month period	—	16.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	24.71%	18.05%	+6.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.71%	18.38%	+6.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.71%	18.38%	+6.33%

EMKT vs. XCNY - Expense Ratio Comparison

EMKT has a 0.74% expense ratio, which is higher than XCNY's 0.15% expense ratio.

Dividends

EMKT vs. XCNY - Dividend Comparison

EMKT's dividend yield for the trailing twelve months is around 0.44%, less than XCNY's 2.24% yield.

Position	TTM	2025	2024
EMKT Lazard Emerging Markets Opportunities ETF	0.44%	0.00%	0.00%
XCNY SPDR S&P Emerging Markets ex-China ETF	2.24%	2.68%	1.07%

Frequently Asked Questions

Can I hold both EMKT and XCNY in my portfolio?

With a correlation of 0.90, EMKT and XCNY 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, EMKT or XCNY?

On fees, XCNY 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, EMKT or XCNY?

XCNY is cheaper with a 0.15% expense ratio, compared with 0.74% for EMKT.

Which ETF pays a higher dividend yield, EMKT or XCNY?

XCNY has the higher dividend yield at 2.24%, compared with 0.44% for EMKT.

What is the main difference between EMKT and XCNY?

They also come from different issuers: Lazard and State Street. Their fees differ too: 0.74% for EMKT and 0.15% for XCNY.