EMXC vs. SPOT
EMXC (iShares MSCI Emerging Markets ex China ETF) is Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while SPOT (Spotify Technology S.A.) is a stock. Over the past 5 years, EMXC returned 11.46%/yr vs 16.18%/yr for SPOT. At a 0.33 correlation, their price movements are largely independent.
Performance
EMXC vs. SPOT - 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 SPOT's -13.36% return.
EMXC
- 1D
- 2.43%
- 1M
- -1.88%
- YTD
- 32.33%
- 6M
- 36.39%
- 1Y
- 62.72%
- 3Y*
- 25.41%
- 5Y*
- 11.46%
- 10Y*
- —
SPOT
- 1D
- 1.24%
- 1M
- 20.42%
- YTD
- -13.36%
- 6M
- -12.09%
- 1Y
- -29.36%
- 3Y*
- 49.53%
- 5Y*
- 16.18%
- 10Y*
- —
EMXC vs. SPOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 32.33% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 15.80% | -14.02% |
SPOT Spotify Technology S.A. | -13.36% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -23.83% |
Correlation
The correlation between EMXC and SPOT is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2018 | 0.33 |
Over the past year, the correlation between EMXC and SPOT has dropped to 0.09 - well below their long-term average of 0.33, suggesting their price drivers have been diverging.
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Return for Risk
EMXC vs. SPOT — Risk / Return Rank
EMXC
SPOT
EMXC vs. SPOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Spotify Technology S.A. (SPOT). 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 | SPOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.37 | ||
| Sortino ratioReturn per unit of downside risk | +4.03 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 0.90 | +0.59 |
| Calmar ratioReturn relative to maximum drawdown | 4.37 | -0.63 | +5.00 |
| Martin ratioReturn relative to average drawdown | 17.27 | -1.10 | +18.37 |
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 | SPOT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.71 | -0.65 | +3.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.65 | 0.34 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.34 | +0.16 |
Drawdowns
EMXC vs. SPOT - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, smaller than the maximum SPOT drawdown of -80.51%. Use the drawdown chart below to compare losses from any high point for EMXC and SPOT.
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Drawdown Indicators
| EMXC | SPOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -80.51% | +37.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -46.80% | +32.39% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -46.80% | +27.68% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -76.39% | +47.48% |
Current DrawdownCurrent decline from peak | -7.55% | -35.16% | +27.61% |
Average DrawdownAverage peak-to-trough decline | -10.19% | -30.81% | +20.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 26.76% | -23.12% |
Volatility
EMXC vs. SPOT - Volatility Comparison
The current volatility for iShares MSCI Emerging Markets ex China ETF (EMXC) is 12.57%, while Spotify Technology S.A. (SPOT) has a volatility of 15.97%. This indicates that EMXC experiences smaller price fluctuations and is considered to be less risky than SPOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC | SPOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.57% | 15.97% | -3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 21.20% | 37.40% | -16.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.27% | 45.30% | -22.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.82% | 47.60% | -29.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 47.26% | -27.27% |
Dividends
EMXC vs. SPOT - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.13%, while SPOT has not paid dividends to shareholders.
| 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% |
SPOT Spotify Technology S.A. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMXC and SPOT have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (15.97%) compared to EMXC (12.57%). In terms of maximum drawdown, EMXC dropped -42.81% vs SPOT's -80.51%.
EMXC currently has the higher Sharpe Ratio (2.71 vs -0.65), 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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