EMXC vs. XSTB.TO
EMXC (iShares MSCI Emerging Markets ex China ETF) and XSTB.TO (iShares ESG Aware Canadian Short Term Bond Index ETF) are both exchange-traded funds - EMXC is a Emerging Markets Equities fund tracking the MSCI Emerging Markets ex China Index, while XSTB.TO is a Canadian Government Bonds fund tracking the Morningstar Can 1-5Y Core Bd GR CAD. Both are passively managed. Over the past 5 years, EMXC returned 12.14%/yr vs -0.94%/yr for XSTB.TO. At a 0.03 correlation, their price movements are largely independent. EMXC charges 0.49%/yr vs 0.17%/yr for XSTB.TO.
Performance
EMXC vs. XSTB.TO - Performance Comparison
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Different Trading Currencies
EMXC is traded in USD, while XSTB.TO is traded in CAD. To make them comparable, the XSTB.TO values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, EMXC achieves a 37.25% return, which is significantly higher than XSTB.TO's -0.92% return.
EMXC
- 1D
- 0.55%
- 1M
- 2.60%
- YTD
- 37.25%
- 6M
- 42.23%
- 1Y
- 67.80%
- 3Y*
- 26.47%
- 5Y*
- 12.14%
- 10Y*
- —
XSTB.TO
- 1D
- -0.18%
- 1M
- -1.28%
- YTD
- -0.92%
- 6M
- -0.04%
- 1Y
- 0.29%
- 3Y*
- 3.19%
- 5Y*
- -0.94%
- 10Y*
- —
EMXC vs. XSTB.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 37.25% | 35.14% | 2.68% | 18.96% | -19.56% | 8.54% | 12.76% | 8.19% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | -0.92% | 8.56% | -2.94% | 7.42% | -9.64% | -1.07% | 7.50% | 3.77% |
Correlation
The correlation between EMXC and XSTB.TO is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2019 | 0.03 |
The correlation between EMXC and XSTB.TO shifts across timeframes, from 0.03 (all time) to 0.14 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMXC vs. XSTB.TO — Risk / Return Rank
EMXC
XSTB.TO
EMXC vs. XSTB.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets ex China ETF (EMXC) and iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO). 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 | XSTB.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.57 | ||
| Sortino ratioReturn per unit of downside risk | +3.06 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.03 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 0.24 | +4.32 |
| Martin ratioReturn relative to average drawdown | 17.51 | 0.55 | +16.97 |
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Drawdowns
EMXC vs. XSTB.TO - Drawdown Comparison
The maximum EMXC drawdown since its inception was -42.81%, which is greater than XSTB.TO's maximum drawdown of -18.31%. Use the drawdown chart below to compare losses from any high point for EMXC and XSTB.TO.
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Drawdown Indicators
| EMXC | XSTB.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.81% | -18.31% | -24.50% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -3.43% | -10.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.12% | -7.23% | -11.89% |
Max Drawdown (5Y)Largest decline over 5 years | -28.91% | -17.61% | -11.30% |
Current DrawdownCurrent decline from peak | -4.12% | -4.96% | +0.84% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -6.84% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.74% | 1.47% | +2.27% |
Volatility
EMXC vs. XSTB.TO - Volatility Comparison
iShares MSCI Emerging Markets ex China ETF (EMXC) has a higher volatility of 12.83% compared to iShares ESG Aware Canadian Short Term Bond Index ETF (XSTB.TO) at 1.12%. This indicates that EMXC's price experiences larger fluctuations and is considered to be riskier than XSTB.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC | XSTB.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.83% | 1.12% | +11.71% |
Volatility (6M)Calculated over the trailing 6-month period | 21.90% | 3.62% | +18.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.90% | 4.72% | +19.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.00% | 6.87% | +11.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.07% | 6.88% | +13.19% |
EMXC vs. XSTB.TO - Expense Ratio Comparison
EMXC has a 0.49% expense ratio, which is higher than XSTB.TO's 0.17% expense ratio.
Dividends
EMXC vs. XSTB.TO - Dividend Comparison
EMXC's dividend yield for the trailing twelve months is around 2.05%, less than XSTB.TO's 2.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
EMXC iShares MSCI Emerging Markets ex China ETF | 2.05% | 2.82% | 2.69% | 1.83% | 2.85% | 1.78% | 1.45% | 3.25% | 2.63% | 0.99% |
XSTB.TO iShares ESG Aware Canadian Short Term Bond Index ETF | 2.87% | 2.88% | 2.64% | 2.22% | 1.93% | 1.82% | 2.10% | 1.83% | 0.00% | 0.00% |
Frequently Asked Questions
EMXC and XSTB.TO have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSTB.TO is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSTB.TO is cheaper with a 0.17% expense ratio, compared with 0.49% for EMXC.
EMXC is categorized as Emerging Markets Equities, while XSTB.TO is Canadian Government Bonds. EMXC tracks MSCI Emerging Markets ex China Index, while XSTB.TO tracks Morningstar Can 1-5Y Core Bd GR CAD. Their fees differ too: 0.49% for EMXC and 0.17% for XSTB.TO.
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