EMXC vs. NIXT
EMXC (iShares MSCI Emerging Markets ex China ETF) and NIXT (Research Affiliates Deletions ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index. Both are passively managed. Over the past year, EMXC returned 62.72% vs 31.07% for NIXT. A 0.58 correlation means they provide meaningful diversification when combined. EMXC charges 0.49%/yr vs 0.09%/yr for NIXT.
Performance
EMXC vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, EMXC achieves a 32.33% return, which is significantly higher than NIXT's 17.85% return.
EMXC
- 1D
- 2.43%
- 1M
- -1.88%
- YTD
- 32.33%
- 6M
- 36.39%
- 1Y
- 62.72%
- 3Y*
- 25.41%
- 5Y*
- 11.46%
- 10Y*
- —
NIXT
- 1D
- 0.30%
- 1M
- 0.86%
- YTD
- 17.85%
- 6M
- 17.13%
- 1Y
- 31.07%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMXC vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 32.33% | 35.14% | -4.22% |
NIXT Research Affiliates Deletions ETF | 17.85% | 4.94% | 4.89% |
Correlation
The correlation between EMXC and NIXT is 0.57, 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 | 0.57 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024 | 0.58 |
The correlation between EMXC and NIXT has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.
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Return for Risk
EMXC vs. NIXT — Risk / Return Rank
EMXC
NIXT
EMXC vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Research Affiliates Deletions ETF (NIXT). 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.
| EMXC | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.09 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.25 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | 2.66 | +1.71 |
| Martin ratioReturn relative to average drawdown | 17.27 | 8.96 | +8.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMXC | NIXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | 1.47 | +1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.70 | -0.20 |
Drawdowns
EMXC vs. NIXT - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for EMXC and NIXT.
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Drawdown Indicators
| EMXC | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -27.75% | -15.06% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -11.71% | -2.70% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | — | — |
Current DrawdownCurrent decline from peak | -7.55% | -2.73% | -4.82% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -5.94% | -4.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 3.48% | +0.16% |
Volatility
EMXC vs. NIXT - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 12.57% compared to Research Affiliates Deletions ETF (NIXT) at 5.00%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.57% | 5.00% | +7.57% |
Volatility (6M)Calculated over the trailing 6-month period | 21.20% | 14.17% | +7.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.27% | 21.26% | +2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 23.28% | -5.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 23.28% | -3.29% |
EMXC vs. NIXT - Expense Ratio Comparison
EMXC has a 0.49% expense ratio, which is higher than NIXT's 0.09% expense ratio.
Dividends
EMXC vs. NIXT - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.13%, more than NIXT's 1.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 2.13% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% |
NIXT Research Affiliates Deletions ETF | 1.35% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMXC and NIXT have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMXC has higher volatility (12.57%) compared to NIXT (5.00%). In terms of maximum drawdown, EMXC dropped -42.81% vs NIXT's -27.75%.
On 1-year performance, EMXC leads with 62.72% vs 31.07% for NIXT. On fees, NIXT is cheaper at 0.09% per year. On volatility, NIXT has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, EMXC has performed better with a 62.72% return vs 31.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.49% for EMXC.
EMXC has the higher dividend yield at 2.13%, compared with 1.35% for NIXT.
EMXC is categorized as Emerging Markets Equities, while NIXT is Mid Cap Value Equities. EMXC tracks MSCI Emerging Markets ex China Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: iShares and Research Affiliates. Their fees differ too: 0.49% for EMXC and 0.09% for NIXT.
EMXC currently has the higher Sharpe Ratio (2.71 vs 1.47), 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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