EMXC vs. CAT
EMXC (iShares MSCI Emerging Markets ex China ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while CAT (Caterpillar Inc.) is a stock. Over the past 5 years, EMXC returned 13.21%/yr vs 36.30%/yr for CAT. A 0.52 correlation means they provide meaningful diversification when combined.
Performance
EMXC vs. CAT - Performance Comparison
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Returns By Period
In the year-to-date period, EMXC achieves a 42.50% return, which is significantly lower than CAT's 63.72% return.
EMXC
- 1D
- 3.83%
- 1M
- 10.65%
- YTD
- 42.50%
- 6M
- 47.59%
- 1Y
- 74.22%
- 3Y*
- 27.88%
- 5Y*
- 13.21%
- 10Y*
- —
CAT
- 1D
- 2.57%
- 1M
- 5.14%
- YTD
- 63.72%
- 6M
- 59.03%
- 1Y
- 164.40%
- 3Y*
- 58.53%
- 5Y*
- 36.30%
- 10Y*
- 31.48%
EMXC vs. CAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 42.50% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.16% |
CAT Caterpillar Inc. | 63.72% | 60.30% | 24.66% | 25.95% | 18.60% | 15.95% | 26.97% | 19.51% | -17.56% | 38.40% |
Correlation
The correlation between EMXC and CAT is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017 | 0.52 |
The correlation between EMXC and CAT has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.
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Return for Risk
EMXC vs. CAT — Risk / Return Rank
EMXC
CAT
EMXC vs. CAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Caterpillar Inc. (CAT). 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.
| EMXC | CAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.67 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 5.18 | 11.92 | -6.74 |
| Martin ratioReturn relative to average drawdown | 19.92 | 39.03 | -19.11 |
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Drawdowns
EMXC vs. CAT - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, smaller than the maximum CAT drawdown of -73.43%. Use the drawdown chart below to compare losses from any high point for EMXC and CAT.
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Drawdown Indicators
| EMXC | CAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -73.43% | +30.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -13.88% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -34.05% | +14.93% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -34.05% | +5.14% |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.36% | — |
Current DrawdownCurrent decline from peak | -0.45% | -0.70% | +0.25% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -19.73% | +9.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 4.23% | -0.49% |
Volatility
EMXC vs. CAT - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) and Caterpillar Inc. (CAT) have volatilities of 13.30% and 13.25%, 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.
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Volatility by Period
| EMXC | CAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.30% | 13.25% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 22.16% | 28.43% | -6.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.16% | 35.28% | -11.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 30.82% | -12.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.10% | 31.00% | -10.90% |
Dividends
EMXC vs. CAT - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.56%, more than CAT's 0.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAT Caterpillar Inc. | 0.65% | 1.02% | 1.49% | 1.69% | 1.93% | 2.07% | 2.26% | 2.56% | 2.58% | 1.97% | 3.32% | 4.33% |
EMXC iShares MSCI Emerging Markets ex China ETF | 2.56% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% | 0.00% |
Frequently Asked Questions
EMXC and CAT have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (13.30%) compared to CAT (13.25%). In terms of maximum drawdown, EMXC dropped -42.81% vs CAT's -73.43%.
CAT currently has the higher Sharpe Ratio (4.70 vs 3.09), 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.
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