EMXC vs. HYXF
EMXC (iShares MSCI Emerging Markets ex China ETF) and HYXF (iShares ESG Advanced High Yield Corporate Bond ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while HYXF is a High Yield Bonds fund tracking the Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Both are passively managed. Over the past 5 years, EMXC returned 12.14%/yr vs 3.61%/yr for HYXF. A 0.53 correlation means they provide meaningful diversification when combined. EMXC charges 0.49%/yr vs 0.35%/yr for HYXF.
Performance
EMXC vs. HYXF - Performance Comparison
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Returns By Period
In the year-to-date period, EMXC achieves a 37.25% return, which is significantly higher than HYXF's 1.06% return.
EMXC
- 1D
- 0.55%
- 1M
- 2.60%
- YTD
- 37.25%
- 6M
- 42.23%
- 1Y
- 67.80%
- 3Y*
- 26.47%
- 5Y*
- 12.14%
- 10Y*
- —
HYXF
- 1D
- -0.05%
- 1M
- 0.47%
- YTD
- 1.06%
- 6M
- 1.78%
- 1Y
- 5.83%
- 3Y*
- 8.51%
- 5Y*
- 3.61%
- 10Y*
- —
EMXC vs. HYXF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 37.25% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -12.96% | 7.16% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 1.06% | 8.88% | 8.35% | 11.87% | -11.90% | 2.60% | 6.07% | 14.87% | -0.24% | 0.12% |
Correlation
The correlation between EMXC and HYXF is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017 | 0.53 |
The correlation between EMXC and HYXF has been stable across timeframes, ranging from 0.52 to 0.58 - a consistent structural relationship.
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Return for Risk
EMXC vs. HYXF — Risk / Return Rank
EMXC
HYXF
EMXC vs. HYXF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and iShares ESG Advanced High Yield Corporate Bond ETF (HYXF). 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 | HYXF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.22 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.29 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 2.26 | +2.29 |
| Martin ratioReturn relative to average drawdown | 17.51 | 10.11 | +7.41 |
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Drawdowns
EMXC vs. HYXF - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, which is greater than HYXF's maximum drawdown of -18.75%. Use the drawdown chart below to compare losses from any high point for EMXC and HYXF.
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Drawdown Indicators
| EMXC | HYXF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -18.75% | -24.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -2.57% | -11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -4.81% | -14.31% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -16.00% | -12.91% |
Current DrawdownCurrent decline from peak | -4.12% | -0.13% | -3.99% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -2.57% | -7.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 0.57% | +3.17% |
Volatility
EMXC vs. HYXF - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 12.83% compared to iShares ESG Advanced High Yield Corporate Bond ETF (HYXF) at 1.26%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than HYXF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC | HYXF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.83% | 1.26% | +11.57% |
Volatility (6M)Calculated over the trailing 6-month period | 21.90% | 3.00% | +18.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.90% | 3.82% | +20.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.00% | 8.05% | +9.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.07% | 8.31% | +11.76% |
EMXC vs. HYXF - Expense Ratio Comparison
EMXC has a 0.49% expense ratio, which is higher than HYXF's 0.35% expense ratio.
Dividends
EMXC vs. HYXF - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.05%, less than HYXF's 6.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 2.05% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% | 0.00% |
HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 6.09% | 6.19% | 6.40% | 5.93% | 5.37% | 4.56% | 4.96% | 5.29% | 6.14% | 5.85% | 3.16% |
Frequently Asked Questions
EMXC and HYXF have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (12.83%) compared to HYXF (1.26%). In terms of maximum drawdown, EMXC dropped -42.81% vs HYXF's -18.75%.
On 5-year performance, EMXC leads with 12.14% vs 3.61% for HYXF. On fees, HYXF is cheaper at 0.35% per year. On volatility, HYXF has been the lower-risk option at 1.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EMXC has performed better with a 12.14% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HYXF is cheaper with a 0.35% expense ratio, compared with 0.49% for EMXC.
HYXF has the higher dividend yield at 6.09%, compared with 2.05% for EMXC.
EMXC is categorized as Emerging Markets Equities, while HYXF is High Yield Bonds. EMXC tracks MSCI Emerging Markets ex China Index, while HYXF tracks Bloomberg MSCI US High Yield Corporate Choice ESG Screened. Their fees differ too: 0.49% for EMXC and 0.35% for HYXF.
EMXC currently has the higher Sharpe Ratio (2.74 vs 1.52), 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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