EMXC vs. VEXC

Last updated Jun 6, 2026

EMXC (iShares MSCI Emerging Markets ex China ETF) and VEXC (Vanguard Emerging Markets Ex-China ETF) are both Emerging Markets Equities funds - EMXC tracks the MSCI Emerging Markets ex China Index while VEXC tracks the FTSE Emerging ex China Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. EMXC charges 0.49%/yr vs 0.07%/yr for VEXC.

Performance

EMXC vs. VEXC - Performance Comparison

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

Returns By Period

In the year-to-date period, EMXC achieves a 29.20% return, which is significantly higher than VEXC's 15.04% return.

EMXC

• 1D: -7.65%
• 1M: -3.20%
• YTD: 29.20%
• 6M: 33.10%
• 1Y: 59.75%
• 3Y*: 24.88%
• 5Y*: 10.70%
• 10Y*: —

VEXC

• 1D: -4.52%
• 1M: -3.28%
• YTD: 15.04%
• 6M: 17.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EMXC vs. VEXC - Yearly Performance Comparison

	2026 (YTD)	2025
EMXC iShares MSCI Emerging Markets ex China ETF	29.20%	8.39%
VEXC Vanguard Emerging Markets Ex-China ETF	15.04%	4.80%

Correlation

The correlation between EMXC and VEXC is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 3, 2025	0.93

Return for Risk

EMXC vs. VEXC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EMXC

EMXC Risk / Return Rank: 80
EMXC Sharpe Ratio Rank: 82
EMXC Sortino Ratio Rank: 71
EMXC Omega Ratio Rank: 82
EMXC Calmar Ratio Rank: 81
EMXC Martin Ratio Rank: 84

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. VEXC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and Vanguard Emerging Markets Ex-China ETF (VEXC). 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	VEXC	Difference
Sharpe ratio: Return per unit of total volatility	2.60	—	—
Sortino ratio: Return per unit of downside risk	3.16	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	4.17	—	—
Martin ratio: Return relative to average drawdown	16.60	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	EMXC	VEXC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	1.64	-1.16

Drawdowns

EMXC vs. VEXC - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, which is greater than VEXC's maximum drawdown of -12.42%. Use the drawdown chart below to compare losses from any high point for EMXC and VEXC.

Drawdown Indicators

	EMXC	VEXC	Difference
Max Drawdown Largest peak-to-trough decline	-42.81%	-12.42%	-30.39%
Max Drawdown (1Y) Largest decline over 1 year	-14.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.91%	—	—
Current Drawdown Current decline from peak	-9.75%	-5.45%	-4.30%
Average Drawdown Average peak-to-trough decline	-10.19%	-2.24%	-7.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	—	—

Volatility

Volatility by Period

	EMXC	VEXC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.09%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	19.63%	+3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.78%	19.63%	-1.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.98%	19.63%	+0.35%

EMXC vs. VEXC - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is higher than VEXC's 0.07% expense ratio.

Dividends

EMXC vs. VEXC - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 2.18%, more than VEXC's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
EMXC iShares MSCI Emerging Markets ex China ETF	2.18%	2.82%	2.69%	1.83%	2.85%	1.78%	1.45%	3.25%	2.63%	0.99%
VEXC Vanguard Emerging Markets Ex-China ETF	0.77%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EMXC and VEXC in my portfolio?

With a correlation of 0.93, EMXC and VEXC 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 ETF is better, EMXC or VEXC?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EMXC or VEXC?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.49% for EMXC.

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

EMXC has the higher dividend yield at 2.18%, compared with 0.77% for VEXC.

What is the main difference between EMXC and VEXC?

EMXC tracks MSCI Emerging Markets ex China Index, while VEXC tracks FTSE Emerging ex China Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.49% for EMXC and 0.07% for VEXC.