EMXC vs. XC
EMXC (iShares MSCI Emerging Markets ex China ETF) and XC (WisdomTree Emerging Markets ex-China Fund) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while XC is a Emerging Markets Diversified fund tracking the WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, EMXC returned 27.65%/yr vs 10.32%/yr for XC. Their correlation of 0.90 suggests significant overlap in exposure. EMXC charges 0.49%/yr vs 0.32%/yr for XC.
Performance
EMXC vs. XC - Performance Comparison
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Returns By Period
In the year-to-date period, EMXC achieves a 37.89% return, which is significantly higher than XC's -1.97% return.
EMXC
- 1D
- -6.44%
- 1M
- 4.83%
- YTD
- 37.89%
- 6M
- 39.80%
- 1Y
- 67.97%
- 3Y*
- 27.65%
- 5Y*
- 12.43%
- 10Y*
- —
XC
- 1D
- -1.25%
- 1M
- 0.63%
- YTD
- -1.97%
- 6M
- -2.47%
- 1Y
- 7.06%
- 3Y*
- 10.32%
- 5Y*
- —
- 10Y*
- —
EMXC vs. XC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 37.89% | 35.14% | 2.68% | 18.96% | 2.04% |
XC WisdomTree Emerging Markets ex-China Fund | -1.97% | 18.19% | 5.49% | 21.31% | 1.58% |
Correlation
The correlation between EMXC and XC is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2022 | 0.90 |
The correlation between EMXC and XC shifts across timeframes, from 0.77 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMXC vs. XC — Risk / Return Rank
EMXC
XC
EMXC vs. XC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and WisdomTree Emerging Markets ex-China Fund (XC). 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 | XC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.23 | ||
| Sortino ratioReturn per unit of downside risk | +2.45 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.09 | +0.41 |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | 0.57 | +4.17 |
| Martin ratioReturn relative to average drawdown | 18.14 | 1.51 | +16.63 |
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Drawdowns
EMXC vs. XC - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, which is greater than XC's maximum drawdown of -20.97%. Use the drawdown chart below to compare losses from any high point for EMXC and XC.
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Drawdown Indicators
| EMXC | XC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -20.97% | -21.84% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -12.47% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -20.97% | +1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | — | — |
Current DrawdownCurrent decline from peak | -6.44% | -7.94% | +1.50% |
Average DrawdownAverage peak-to-trough decline | -10.15% | -4.17% | -5.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.76% | 4.69% | -0.93% |
Volatility
EMXC vs. XC - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 14.74% compared to WisdomTree Emerging Markets ex-China Fund (XC) at 5.04%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than XC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC | XC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.74% | 5.04% | +9.70% |
Volatility (6M)Calculated over the trailing 6-month period | 23.44% | 13.20% | +10.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.27% | 15.09% | +10.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 15.92% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.25% | 15.92% | +4.33% |
EMXC vs. XC - Expense Ratio Comparison
EMXC has a 0.49% expense ratio, which is higher than XC's 0.32% expense ratio.
Dividends
EMXC vs. XC - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 1.93%, less than XC's 12.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
XC WisdomTree Emerging Markets ex-China Fund | 12.22% | 11.74% | 1.49% | 1.42% | 0.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMXC and XC have a correlation of 0.77, 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 XC (5.04%). In terms of maximum drawdown, EMXC dropped -42.81% vs XC's -20.97%.
On 3-year performance, EMXC leads with 27.65% vs 10.32% for XC. On fees, XC is cheaper at 0.32% per year. On volatility, XC has been the lower-risk option at 5.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EMXC has performed better with a 27.65% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XC is cheaper with a 0.32% expense ratio, compared with 0.49% for EMXC.
XC has the higher dividend yield at 12.22%, compared with 1.93% for EMXC.
EMXC is categorized as Emerging Markets Equities, while XC is Emerging Markets Diversified. EMXC tracks MSCI Emerging Markets ex China Index, while XC tracks WisdomTree Emerging Markets ex-China Index - Benchmark TR Net. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.49% for EMXC and 0.32% for XC.
EMXC currently has the higher Sharpe Ratio (2.70 vs 0.47), 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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