EMXC vs. STXE

Last updated Aug 4, 2026

EMXC (iShares MSCI Emerging Markets ex China ETF) and STXE (Strive Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - EMXC tracks the MSCI Emerging Markets ex China Index while STXE tracks the Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, EMXC returned 23.89%/yr vs 24.25%/yr for STXE. Their correlation of 0.94 means they have usually moved in the same direction. EMXC charges 0.49%/yr vs 0.32%/yr for STXE.

Performance

EMXC vs. STXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets ex China ETF (EMXC) and Strive Emerging Markets Ex-China ETF (STXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMXC achieves a 28.12% return, which is significantly lower than STXE's 31.89% return.

EMXC

• 1D: 0.49%
• 1M: -4.55%
• 6M: 15.83%
• YTD: 28.12%
• 1Y: 51.73%
• 3Y*: 23.89%
• 5Y*: 10.90%
• 10Y*: —
• ALL TIME*: 9.40%

STXE

• 1D: 0.31%
• 1M: -4.78%
• 6M: 17.76%
• YTD: 31.89%
• 1Y: 56.83%
• 3Y*: 24.25%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.41%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
EMXC iShares MSCI Emerging Markets ex China ETF	$255.60M	$267.52M	$279.80M
STXE Strive Emerging Markets Ex-China ETF	$408.52K	$564.14K	$567.10K

EMXC vs. STXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMXC iShares MSCI Emerging Markets ex China ETF	28.12%	35.14%	2.68%	10.99%
STXE Strive Emerging Markets Ex-China ETF	31.89%	34.23%	2.09%	12.38%

Correlation

The correlation between EMXC and STXE is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023	0.94

The correlation between EMXC and STXE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

EMXC vs. STXE - Sectors Allocation Comparison

Sectors	EMXC	STXE
Technology	53.4%	40.3%
Financial Services	18.0%	15.7%
Industrials	6.5%	5.0%
Basic Materials	5.5%	6.2%
Consumer Cyclical	3.8%	1.4%
Energy	3.1%	3.5%
Communication Services	2.9%	3.2%
Consumer Defensive	2.4%	1.7%
Healthcare	1.8%	0.6%
Utilities	1.8%	1.1%
Real Estate	0.8%	0.4%

Return for Risk

EMXC vs. STXE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EMXC

EMXC Risk / Return Rank: 78
EMXC Sharpe Ratio Rank: 80
EMXC Sortino Ratio Rank: 73
EMXC Omega Ratio Rank: 81
EMXC Calmar Ratio Rank: 78
EMXC Martin Ratio Rank: 77

STXE

STXE Risk / Return Rank: 77
STXE Sharpe Ratio Rank: 80
STXE Sortino Ratio Rank: 72
STXE Omega Ratio Rank: 79
STXE Calmar Ratio Rank: 76
STXE Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMXC vs. STXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Strive Emerging Markets Ex-China ETF (STXE). 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	STXE	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.92	-0.03
Sortino ratio: Return per unit of downside risk	2.40	2.45	-0.05
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	2.82	2.80	+0.02
Martin ratio: Return relative to average drawdown	9.91	10.42	-0.51

EMXC vs. STXE - Sharpe Ratio Comparison

The current EMXC Sharpe Ratio is 1.88, which is comparable to the STXE Sharpe Ratio of 1.92. The chart below compares the historical Sharpe Ratios of EMXC and STXE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMXC vs. STXE - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, which is greater than STXE's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for EMXC and STXE.

Drawdown Indicators

	EMXC	STXE	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-20.38%	-22.43%
Max Drawdown (1Y) Largest decline over 1 year	-18.43%	-20.38%	+1.95%
Max Drawdown (3Y) Largest decline over 3 years	-19.12%	-20.38%	+1.26%
Max Drawdown (5Y) Largest decline over 5 years	-28.91%	—	—
Current Drawdown Current decline from peak	-13.07%	-14.32%	+1.25%
Average Drawdown Average peak-to-trough decline	-10.15%	-3.96%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	5.47%	-0.24%

Volatility

EMXC vs. STXE - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets ex China ETF (EMXC) is 10.77%, while Strive Emerging Markets Ex-China ETF (STXE) has a volatility of 12.86%. This indicates that EMXC experiences smaller price fluctuations and is considered to be less risky than STXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMXC	STXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.77%	12.86%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	25.82%	28.03%	-2.21%
Volatility (1Y) Calculated over the trailing 1-year period	27.64%	29.88%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.04%	20.16%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.50%	20.16%	+0.34%

EMXC vs. STXE - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is higher than STXE's 0.32% expense ratio.

Dividends

EMXC vs. STXE - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 2.08%, more than STXE's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMXC iShares MSCI Emerging Markets ex China ETF	2.08%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%
STXE Strive Emerging Markets Ex-China ETF	1.90%	2.66%	3.22%	1.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMXC and STXE in my portfolio?

With a correlation of 0.97, EMXC and STXE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EMXC or STXE?

STXE has higher volatility (12.86%) compared to EMXC (10.77%). In terms of maximum drawdown, EMXC dropped -42.81% vs STXE's -20.38%.

Which ETF is better, EMXC or STXE?

On 3-year performance, STXE leads with 24.25% vs 23.89% for EMXC. On fees, STXE is cheaper at 0.32% per year. On volatility, EMXC has been the lower-risk option at 10.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMXC or STXE?

Over the 3-year period, STXE has performed better with a 24.25% return vs 23.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMXC or STXE?

STXE is cheaper with a 0.32% expense ratio, compared with 0.49% for EMXC.

Which ETF pays a higher dividend yield, EMXC or STXE?

EMXC has the higher dividend yield at 2.08%, compared with 1.90% for STXE.

What is the main difference between EMXC and STXE?

EMXC tracks MSCI Emerging Markets ex China Index, while STXE tracks Bloomberg US 1000 Dividend Growth Index - Benchmark TR Gross. They also come from different issuers: iShares and Strive. Their fees differ too: 0.49% for EMXC and 0.32% for STXE.

Which has better risk-adjusted returns?

STXE currently has the higher Sharpe Ratio (1.92 vs 1.88), 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.