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EMXC vs. EMM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

EMXC vs. EMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ex China ETF (EMXC) and Global X Emerging Markets ex-China ETF (EMM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMXC achieves a 37.89% return, which is significantly higher than EMM's 30.43% return.


EMXC

1D
-6.44%
1M
4.83%
YTD
37.89%
6M
39.80%
1Y
67.97%
3Y*
27.65%
5Y*
12.43%
10Y*

EMM

1D
-5.60%
1M
4.22%
YTD
30.43%
6M
33.87%
1Y
55.00%
3Y*
21.97%
5Y*
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMXC vs. EMM - Yearly Performance Comparison


2026 (YTD)202520242023
EMXC
iShares MSCI Emerging Markets ex China ETF
37.89%35.14%2.68%13.92%
EMM
Global X Emerging Markets ex-China ETF
30.43%30.21%2.34%2.99%

Correlation

The correlation between EMXC and EMM is 0.95 - 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

0.95

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (All Time)
Calculated using the full available price history since May 15, 2023

0.92

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

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Return for Risk

EMXC vs. EMM — Risk / Return Rank

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

EMXC
EMXC Risk / Return Rank: 8585
Overall Rank
EMXC Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 7777
Sortino Ratio Rank
EMXC Omega Ratio Rank: 8686
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8787
Martin Ratio Rank

EMM
EMM Risk / Return Rank: 7676
Overall Rank
EMM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
EMM Sortino Ratio Rank: 6868
Sortino Ratio Rank
EMM Omega Ratio Rank: 7676
Omega Ratio Rank
EMM Calmar Ratio Rank: 7777
Calmar Ratio Rank
EMM Martin Ratio Rank: 8181
Martin Ratio Rank
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.

EMXC vs. EMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Global X Emerging Markets ex-China ETF (EMM). 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.


EMXCEMMDifference
Sharpe ratioReturn per unit of total volatility

+0.45

Sortino ratioReturn per unit of downside risk

+0.37

Omega ratioGain probability vs. loss probability

1.50

1.42

+0.08

Calmar ratioReturn relative to maximum drawdown

4.74

3.75

+0.99

Martin ratioReturn relative to average drawdown

18.14

15.03

+3.11

EMXC vs. EMM - Sharpe Ratio Comparison

The current EMXC Sharpe Ratio is 2.70, which is comparable to the EMM Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of EMXC and EMM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

EMXC vs. EMM - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, which is greater than EMM's maximum drawdown of -21.99%. Use the drawdown chart below to compare losses from any high point for EMXC and EMM.


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Drawdown Indicators


EMXCEMMDifference

Max Drawdown

Largest peak-to-trough decline

-42.81%

-21.99%

-20.82%

Max Drawdown (1Y)

Largest decline over 1 year

-14.41%

-14.75%

+0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-19.12%

-21.99%

+2.87%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

Current Drawdown

Current decline from peak

-6.44%

-5.60%

-0.84%

Average Drawdown

Average peak-to-trough decline

-10.15%

-4.67%

-5.48%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

3.67%

+0.09%

Volatility

EMXC vs. EMM - Volatility Comparison

iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 14.74% compared to Global X Emerging Markets ex-China ETF (EMM) at 13.10%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than EMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


EMXCEMMDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.74%

13.10%

+1.64%

Volatility (6M)

Calculated over the trailing 6-month period

23.44%

22.46%

+0.98%

Volatility (1Y)

Calculated over the trailing 1-year period

25.27%

24.51%

+0.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.40%

19.83%

-1.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.25%

19.83%

+0.42%

EMXC vs. EMM - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is lower than EMM's 0.75% expense ratio.


Dividends

EMXC vs. EMM - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 1.93%, more than EMM's 0.69% yield.


PositionTTM202520242023202220212020201920182017
EMM
Global X Emerging Markets ex-China ETF
0.69%0.90%0.80%0.66%0.00%0.00%0.00%0.00%0.00%0.00%
EMXC
iShares MSCI Emerging Markets ex China ETF
1.93%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%

Frequently Asked Questions


With a correlation of 0.95, EMXC and EMM 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.

EMXC has higher volatility (14.74%) compared to EMM (13.10%). In terms of maximum drawdown, EMXC dropped -42.81% vs EMM's -21.99%.

On 3-year performance, EMXC leads with 27.65% vs 21.97% for EMM. On fees, EMXC is cheaper at 0.49% per year. On volatility, EMM has been the lower-risk option at 13.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, EMXC has performed better with a 27.65% return vs 21.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EMXC is cheaper with a 0.49% expense ratio, compared with 0.75% for EMM.

EMXC has the higher dividend yield at 1.93%, compared with 0.69% for EMM.

EMXC is categorized as Emerging Markets Equities, while EMM is Emerging Markets Diversified. They also come from different issuers: iShares and Global X. Their fees differ too: 0.49% for EMXC and 0.75% for EMM.

EMXC currently has the higher Sharpe Ratio (2.70 vs 2.25), 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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