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EMXC vs. VPL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMXC vs. VPL

Last updated Jun 24, 2026

EMXC (iShares MSCI Emerging Markets ex China ETF) and VPL (Vanguard FTSE Pacific ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 5 years, EMXC returned 12.43%/yr vs 9.86%/yr for VPL. A 0.80 correlation means they provide meaningful diversification when combined. EMXC charges 0.49%/yr vs 0.08%/yr for VPL.

Performance

EMXC vs. VPL - 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 FTSE Pacific ETF (VPL). 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 37.89% return, which is significantly higher than VPL's 25.73% return.

EMXC

1D
-6.44%
1M
4.83%
YTD
37.89%
6M
39.80%
1Y
67.97%
3Y*
27.65%
5Y*
12.43%
10Y*
—

VPL

1D
-5.86%
1M
1.56%
YTD
25.73%
6M
25.83%
1Y
47.86%
3Y*
22.03%
5Y*
9.86%
10Y*
10.76%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMXC vs. VPL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMXC
iShares MSCI Emerging Markets ex China ETF		37.89%35.14%2.68%18.96%-19.56%8.54%12.76%15.80%-12.96%7.16%
VPL
Vanguard FTSE Pacific ETF		25.73%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%10.34%

Correlation

The correlation between EMXC and VPL is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.86

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

0.81

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

0.84

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

0.80

The correlation between EMXC and VPL has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

EMXC vs. VPL - Sectors Allocation Comparison

Sectors
EMXC
VPL

Technology

52.4%
22.6%

Financial Services

17.4%
19.3%

Industrials

6.9%
20.5%

Basic Materials

6.0%
7.3%

Consumer Cyclical

4.1%
9.6%

Energy

3.4%
1.6%

Communication Services

3.0%
4.8%

Consumer Defensive

2.4%
3.5%

Utilities

1.9%
1.6%

Healthcare

1.8%
5.0%

Real Estate

0.8%
4.3%

Technology

EMXC
52.4%
VPL
22.6%

Financial Services

EMXC
17.4%
VPL
19.3%

Industrials

EMXC
6.9%
VPL
20.5%

Basic Materials

EMXC
6.0%
VPL
7.3%

Consumer Cyclical

EMXC
4.1%
VPL
9.6%

Energy

EMXC
3.4%
VPL
1.6%

Communication Services

EMXC
3.0%
VPL
4.8%

Consumer Defensive

EMXC
2.4%
VPL
3.5%

Utilities

EMXC
1.9%
VPL
1.6%

Healthcare

EMXC
1.8%
VPL
5.0%

Real Estate

EMXC
0.8%
VPL
4.3%

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

Vanguard FTSE Pacific ETF

Often compared with EMXC:
EMXC vs. XCEMEMXC vs. IEMGEMXC vs. VWOEMXC vs. EEMEMXC vs. SPEMEMXC vs. VEXCEMXC vs. VNM
Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. VXUSVPL vs. IPACVPL vs. VGKVPL vs. VEU

Return for Risk

EMXC vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMXC
EMXC Risk / Return Rank: 8585
Overall Rank
EMXC Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
EMXC Sortino Ratio Rank: 7777
Sortino Ratio Rank
EMXC Omega Ratio Rank: 8686
Omega Ratio Rank
EMXC Calmar Ratio Rank: 8787
Calmar Ratio Rank
EMXC Martin Ratio Rank: 8787
Martin Ratio Rank
VPL
VPL Risk / Return Rank: 7070
Overall Rank
VPL Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 6161
Sortino Ratio Rank
VPL Omega Ratio Rank: 7272
Omega Ratio Rank
VPL Calmar Ratio Rank: 7474
Calmar Ratio Rank
VPL Martin Ratio Rank: 7575
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. VPL - 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 FTSE Pacific ETF (VPL). 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.

EMXCVPLDifference
Sharpe ratioReturn per unit of total volatility
2.70
2.16

+0.54

Sortino ratioReturn per unit of downside risk
3.23
2.76

+0.48

Omega ratioGain probability vs. loss probability

1.50

1.40

+0.10

Calmar ratioReturn relative to maximum drawdown

4.74

3.61

+1.13

Martin ratioReturn relative to average drawdown

18.14

13.71

+4.42

EMXC vs. VPL - Sharpe Ratio Comparison

The current EMXC Sharpe Ratio is 2.70, which is comparable to the VPL Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of EMXC and VPL, 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. VPL - Drawdown Comparison

The maximum EMXC drawdown since its inception was -42.81%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for EMXC and VPL.

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Drawdown Indicators

EMXCVPLDifference

Max Drawdown

Largest peak-to-trough decline

-42.81%

-55.49%

+12.68%

Max Drawdown (1Y)

Largest decline over 1 year

-14.41%

-13.33%

-1.08%

Max Drawdown (3Y)

Largest decline over 3 years

-19.12%

-16.35%

-2.77%

Max Drawdown (5Y)

Largest decline over 5 years

-28.91%

-31.09%

+2.18%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.90%

—

Current Drawdown

Current decline from peak

-6.44%

-5.86%

-0.58%

Average Drawdown

Average peak-to-trough decline

-10.15%

-11.61%

+1.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.76%

3.50%

+0.26%

Volatility

EMXC vs. VPL - Volatility Comparison

iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 14.74% compared to Vanguard FTSE Pacific ETF (VPL) at 11.91%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMXCVPLDifference

Volatility (1M)

Calculated over the trailing 1-month period

14.74%

11.91%

+2.83%

Volatility (6M)

Calculated over the trailing 6-month period

23.44%

19.95%

+3.49%

Volatility (1Y)

Calculated over the trailing 1-year period

25.27%

22.25%

+3.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.40%

17.93%

+0.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.25%

17.52%

+2.73%

EMXC vs. VPL - Expense Ratio Comparison

EMXC has a 0.49% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

EMXC vs. VPL - Dividend Comparison

EMXC's dividend yield for the trailing twelve months is around 1.93%, less than VPL's 2.66% yield.

PositionTTM20252024202320222021202020192018201720162015
EMXC
iShares MSCI Emerging Markets ex China ETF		1.93%2.82%2.69%1.83%2.85%1.78%1.45%3.25%2.63%0.99%0.00%0.00%
VPL
Vanguard FTSE Pacific ETF		2.66%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

EMXC and VPL have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EMXC has higher volatility (14.74%) compared to VPL (11.91%). In terms of maximum drawdown, EMXC dropped -42.81% vs VPL's -55.49%.

On 5-year performance, EMXC leads with 12.43% vs 9.86% for VPL. On fees, VPL is cheaper at 0.08% per year. On volatility, VPL has been the lower-risk option at 11.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EMXC has performed better with a 12.43% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.49% for EMXC.

VPL has the higher dividend yield at 2.66%, compared with 1.93% for EMXC.

EMXC is categorized as Emerging Markets Equities, while VPL is Asia Pacific Equities. EMXC tracks MSCI Emerging Markets ex China Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.49% for EMXC and 0.08% for VPL.

EMXC currently has the higher Sharpe Ratio (2.70 vs 2.16), 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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