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EMXC vs. GRID
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMXC vs. GRID

Last updated Jul 21, 2026
Documentation

EMXC (iShares MSCI Emerging Markets ex China ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 5 years, EMXC returned 11.14%/yr vs 14.88%/yr for GRID. A 0.70 correlation means they provide meaningful diversification when combined. EMXC charges 0.49%/yr vs 0.70%/yr for GRID.

Performance

EMXC vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ex China ETF (EMXC) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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 26.88% return, which is significantly higher than GRID's 16.26% return.

EMXC

1D
-0.12%
1M
-13.31%
6M
19.25%
YTD
26.88%
1Y
47.52%
3Y*
22.87%
5Y*
11.14%
10Y*
—
ALL TIME*
9.32%

GRID

1D
-0.43%
1M
-8.67%
6M
11.72%
YTD
16.26%
1Y
25.15%
3Y*
19.51%
5Y*
14.88%
10Y*
18.45%
ALL TIME*
12.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMXC vs. GRID - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMXC
iShares MSCI Emerging Markets ex China ETF		26.88%35.14%2.68%18.96%-19.56%8.54%12.76%15.80%-12.96%7.16%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		16.26%29.65%15.18%21.57%-13.89%27.65%48.84%42.80%-22.69%12.01%

Correlation

The correlation between EMXC and GRID is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.81

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

0.78

Correlation (5Y)
Calculated over the trailing 5-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Jul 26, 2017

0.70

The correlation between EMXC and GRID shifts across timeframes, from 0.70 (all time) to 0.81 (1 year), reflecting how their relationship changes across market environments.

EMXC vs. GRID - Sectors Allocation Comparison

Sectors
EMXC
GRID

Technology

53.4%
11.6%

Financial Services

18.0%

-

Industrials

6.5%
67.4%

Basic Materials

5.5%
0.0%

Consumer Cyclical

3.8%
3.6%

Energy

3.1%
1.6%

Communication Services

2.9%

-

Consumer Defensive

2.4%

-

Healthcare

1.8%

-

Utilities

1.8%
17.3%

Real Estate

0.8%

-

Technology

EMXC
53.4%
GRID
11.6%

Financial Services

EMXC
18.0%
GRID

-

Industrials

EMXC
6.5%
GRID
67.4%

Basic Materials

EMXC
5.5%
GRID
0.0%

Consumer Cyclical

EMXC
3.8%
GRID
3.6%

Energy

EMXC
3.1%
GRID
1.6%

Communication Services

EMXC
2.9%
GRID

-

Consumer Defensive

EMXC
2.4%
GRID

-

Healthcare

EMXC
1.8%
GRID

-

Utilities

EMXC
1.8%
GRID
17.3%

Real Estate

EMXC
0.8%
GRID

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Emerging Markets ex China ETF

First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund

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Often compared with GRID:
GRID vs. ICLNGRID vs. NLRGRID vs. VOOGRID vs. POWRGRID vs. VOLTGRID vs. PAVEGRID vs. FIW

Return for Risk

EMXC vs. GRID — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMXC
EMXC Risk / Return Rank: 7676
Overall Rank
EMXC Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 6666
Sortino Ratio Rank
EMXC Omega Ratio Rank: 7777
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8383
Calmar Ratio Rank
EMXC Martin Ratio Rank: 7878
Martin Ratio Rank
GRID
GRID Risk / Return Rank: 4646
Overall Rank
GRID Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
GRID Sortino Ratio Rank: 4040
Sortino Ratio Rank
GRID Omega Ratio Rank: 4141
Omega Ratio Rank
GRID Calmar Ratio Rank: 5757
Calmar Ratio Rank
GRID Martin Ratio Rank: 5151
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. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

EMXCGRIDDifference
Sharpe ratioReturn per unit of total volatility
1.80
1.15

+0.65

Sortino ratioReturn per unit of downside risk
2.30
1.62

+0.68

Omega ratioGain probability vs. loss probability

1.34

1.21

+0.13

Calmar ratioReturn relative to maximum drawdown

3.31

2.15

+1.16

Martin ratioReturn relative to average drawdown

10.67

6.50

+4.16

EMXC vs. GRID - Sharpe Ratio Comparison

The current EMXC Sharpe Ratio is 1.80, which is higher than the GRID Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of EMXC and GRID, 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. GRID - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for EMXC and GRID.

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Drawdown Indicators

EMXCGRIDDifference

Max Drawdown

Largest peak-to-trough decline

-42.81%

-40.56%

-2.25%

Max Drawdown (1Y)

Largest decline over 1 year

-14.41%

-11.73%

-2.68%

Max Drawdown (3Y)

Largest decline over 3 years

-19.12%

-20.62%

+1.50%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

-29.64%

+0.73%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.56%

—

Current Drawdown

Current decline from peak

-13.92%

-11.01%

-2.91%

Average Drawdown

Average peak-to-trough decline

-10.14%

-8.41%

-1.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.47%

3.88%

+0.59%

Volatility

EMXC vs. GRID - Volatility Comparison

iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 11.80% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 8.76%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMXCGRIDDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.80%

8.76%

+3.04%

Volatility (6M)

Calculated over the trailing 6-month period

24.94%

19.36%

+5.58%

Volatility (1Y)

Calculated over the trailing 1-year period

26.64%

22.09%

+4.55%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.75%

21.51%

-2.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.38%

22.72%

-2.34%

EMXC vs. GRID - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

EMXC vs. GRID - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 2.10%, more than GRID's 0.81% yield.

PositionTTM20252024202320222021202020192018201720162015
EMXC
iShares MSCI Emerging Markets ex China ETF		2.10%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%0.00%0.00%
GRID
First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund		0.81%1.01%1.06%1.23%1.26%0.63%0.68%1.26%1.28%1.07%1.07%1.23%

Frequently Asked Questions

EMXC and GRID have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMXC has higher volatility (11.80%) compared to GRID (8.76%). In terms of maximum drawdown, EMXC dropped -42.81% vs GRID's -40.56%.

On 5-year performance, GRID leads with 14.88% vs 11.14% for EMXC. On fees, EMXC is cheaper at 0.49% per year. On volatility, GRID has been the lower-risk option at 8.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, GRID has performed better with a 14.88% return vs 11.14%. 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 0.70% for GRID.

EMXC has the higher dividend yield at 2.10%, compared with 0.81% for GRID.

EMXC is categorized as Emerging Markets Equities, while GRID is Alternative Energy Equities. EMXC tracks MSCI Emerging Markets ex China Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.49% for EMXC and 0.70% for GRID.

EMXC currently has the higher Sharpe Ratio (1.80 vs 1.15), 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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