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EMXC vs. IXC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMXC vs. IXC

Last updated Jun 14, 2026

EMXC (iShares MSCI Emerging Markets ex China ETF) and IXC (iShares Global Energy ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while IXC is a Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Both are passively managed. Over the past 5 years, EMXC returned 12.14%/yr vs 19.14%/yr for IXC. At a 0.44 correlation, their price movements are largely independent. EMXC charges 0.49%/yr vs 0.40%/yr for IXC.

Performance

EMXC vs. IXC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ex China ETF (EMXC) and iShares Global Energy ETF (IXC). 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 37.25% return, which is significantly higher than IXC's 29.17% return.

EMXC

1D
0.55%
1M
6.57%
YTD
37.25%
6M
42.23%
1Y
67.80%
3Y*
26.47%
5Y*
12.14%
10Y*
—

IXC

1D
0.28%
1M
-3.42%
YTD
29.17%
6M
28.84%
1Y
36.66%
3Y*
17.43%
5Y*
19.14%
10Y*
10.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMXC vs. IXC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IXC
iShares Global Energy ETF		29.17%13.98%1.95%3.92%48.51%40.88%-31.00%12.67%-14.85%14.14%

Correlation

The correlation between EMXC and IXC is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

-0.01

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

0.21

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

0.35

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

0.44

The correlation between EMXC and IXC shifts across timeframes, from -0.01 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

EMXC vs. IXC - Sectors Allocation Comparison

Sectors
EMXC
IXC

Technology

52.4%

-

Financial Services

17.4%

-

Industrials

6.9%

-

Basic Materials

6.0%

-

Consumer Cyclical

4.1%

-

Energy

3.4%
100.0%

Communication Services

3.0%

-

Consumer Defensive

2.4%

-

Utilities

1.9%

-

Healthcare

1.8%

-

Real Estate

0.8%

-

Technology

EMXC
52.4%
IXC

-

Financial Services

EMXC
17.4%
IXC

-

Industrials

EMXC
6.9%
IXC

-

Basic Materials

EMXC
6.0%
IXC

-

Consumer Cyclical

EMXC
4.1%
IXC

-

Energy

EMXC
3.4%
IXC
100.0%

Communication Services

EMXC
3.0%
IXC

-

Consumer Defensive

EMXC
2.4%
IXC

-

Utilities

EMXC
1.9%
IXC

-

Healthcare

EMXC
1.8%
IXC

-

Real Estate

EMXC
0.8%
IXC

-

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

iShares Global Energy ETF

Often compared with EMXC:
EMXC vs. XCEMEMXC vs. IEMGEMXC vs. VWOEMXC vs. EEMEMXC vs. SPEMEMXC vs. VEXCEMXC vs. VNM
Often compared with IXC:
IXC vs. XLEIXC vs. VDEIXC vs. IYEIXC vs. OIHIXC vs. IUES.LIXC vs. DDMIXC vs. XDW0.DE

Return for Risk

EMXC vs. IXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMXC
EMXC Risk / Return Rank: 8989
Overall Rank
EMXC Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 8686
Sortino Ratio Rank
EMXC Omega Ratio Rank: 9090
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8888
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8989
Martin Ratio Rank
IXC
IXC Risk / Return Rank: 7373
Overall Rank
IXC Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
IXC Sortino Ratio Rank: 6969
Sortino Ratio Rank
IXC Omega Ratio Rank: 6767
Omega Ratio Rank
IXC Calmar Ratio Rank: 8585
Calmar Ratio Rank
IXC Martin Ratio Rank: 7171
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. IXC - 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 Global Energy ETF (IXC). 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.

EMXCIXCDifference
Sharpe ratioReturn per unit of total volatility
2.74
2.08

+0.66

Sortino ratioReturn per unit of downside risk
3.35
2.70

+0.65

Omega ratioGain probability vs. loss probability

1.50

1.34

+0.16

Calmar ratioReturn relative to maximum drawdown

4.55

4.05

+0.50

Martin ratioReturn relative to average drawdown

17.51

11.55

+5.96

EMXC vs. IXC - Sharpe Ratio Comparison

The current EMXC Sharpe Ratio is 2.74, which is higher than the IXC Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of EMXC and IXC, 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. IXC - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, smaller than the maximum IXC drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for EMXC and IXC.

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Drawdown Indicators

EMXCIXCDifference

Max Drawdown

Largest peak-to-trough decline

-42.81%

-67.88%

+25.07%

Max Drawdown (1Y)

Largest decline over 1 year

-14.41%

-9.66%

-4.75%

Max Drawdown (3Y)

Largest decline over 3 years

-19.12%

-19.06%

-0.06%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

-24.93%

-3.98%

Max Drawdown (10Y)

Largest decline over 10 years

—

-64.16%

—

Current Drawdown

Current decline from peak

-4.12%

-7.04%

+2.92%

Average Drawdown

Average peak-to-trough decline

-10.17%

-17.47%

+7.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.74%

3.38%

+0.36%

Volatility

EMXC vs. IXC - Volatility Comparison

iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 12.83% compared to iShares Global Energy ETF (IXC) at 6.44%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMXCIXCDifference

Volatility (1M)

Calculated over the trailing 1-month period

12.83%

6.44%

+6.39%

Volatility (6M)

Calculated over the trailing 6-month period

21.90%

15.63%

+6.27%

Volatility (1Y)

Calculated over the trailing 1-year period

23.90%

18.79%

+5.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.00%

23.53%

-5.53%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.07%

26.84%

-6.77%

EMXC vs. IXC - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is higher than IXC's 0.40% expense ratio.

Dividends

EMXC vs. IXC - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 2.05%, less than IXC's 2.85% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
IXC
iShares Global Energy ETF		2.85%3.68%4.56%3.45%4.76%3.98%4.86%7.00%3.51%3.05%2.86%3.77%

Frequently Asked Questions

EMXC and IXC have a correlation of -0.01, 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 IXC (6.44%). In terms of maximum drawdown, EMXC dropped -42.81% vs IXC's -67.88%.

On 5-year performance, IXC leads with 19.14% vs 12.14% for EMXC. On fees, IXC is cheaper at 0.40% per year. On volatility, IXC has been the lower-risk option at 6.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IXC has performed better with a 19.14% return vs 12.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IXC is cheaper with a 0.40% expense ratio, compared with 0.49% for EMXC.

IXC has the higher dividend yield at 2.85%, compared with 2.05% for EMXC.

EMXC is categorized as Emerging Markets Equities, while IXC is Energy Equities. EMXC tracks MSCI Emerging Markets ex China Index, while IXC tracks S&P Global 1200 Energy Capped Index. Their fees differ too: 0.49% for EMXC and 0.40% for IXC.

EMXC currently has the higher Sharpe Ratio (2.74 vs 2.08), 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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